Market Update (Week 45, 8/11/2021 – 14/11/2021)

Price, volume, and volatility indices all up. NYCCoin $NYC is set to launch, endorsed by NYC’s next mayor Eric Adams.

Key Takeaways

• Taproot, the long-anticipated Bitcoin upgrade, activated at block 709,632, opening the door for developers to integrate new features that will improve privacy, scalability, and security on the network.
• NewYorkCityCoin (NYCCoin) is set to launch, with the community-led proposal endorsed by New York City Mayor-elect Eric Adams.
• Miami Mayor Francis Suarez shared that the city would be giving a ‘Bitcoin yield as a dividend’ to residents by working with cryptocurrency exchanges to distribute digital wallets.
• Apple chief executive officer Tim Cook said he owns some crypto as ‘part of a diversified portfolio’.
• The general price index increased by +1.48%,and the volume and volatility indices also increased +11.11% and +58.10% respectively.
• Crypto.com has launched the mainnet of the Ethereum Virtual Machine (EVM) compatible network Cronos. It has surpassed 1,000,000 transactions.

Highlights

• Privacy browser Brave expands beyond Ethereum to Solana
• Crypto.com launches EVM-compatible network Cronos
• Number of SHIB holders surges more than 30% in a month
• Tim Cook says he bought crypto, but rejects Apple adding it to its portfolio for now
• New York coin launching this week with Mayor-elect Eric Adams’ blessing
• Bitcoin payments card are coming to Asia Pacific, courtesy of Mastercard
• Ethereum Name Service market cap hits $1 Billion—just days after ENS airdrop
• Four Bored Ape Yacht Club NFTs form Gorillaz-like music group
• Taproot, Bitcoin’s latest upgrade, is now live
• Miami City to disburse $21M in locally mined crypto to citizens
• Major central banks have printed $25 trillion since 2008, data shows
• Indian parliament to discuss crypto regulation with industry leaders next week

Notable events

Block.one has come up with a new plan on how to revitalize the EOS blockchain project and it begins with a substantial transfer of EOS tokens to Helios. (ref)

Stellar (XLM) is holding the newest round of Stellar Community Fund which allows developers from all over the world to build their Stellar-based projects. The deadline for the current round is on 21st November and 4 million XLM tokens will be distributed. (ref)

The inaugural Polkadot (DOT) parachain auction started on November 11th. Crowdloans have already raised over $1 billion in DOT tokens from 100,000 individuals. (ref)

Notable events

Loopring (LRC) has jumped sevenfold in price just this month, nearing a market valuation of $4 billion. Analysts attributed the price jump to speculation ranging from GameStop-related rumors to the project’s potential usefulness in metaverse development. (ref)

Ever since Universal Market Access (UMA) has been gearing to launch its ‘Across Protocol’, it has experienced a major surge in its price by a huge leap. While the protocol has been already launched, the upward momentum has not yet slowed. (ref)

Curve (CRV) Finance has blocked emissions to another DeFi protocol, Mochi, following an alleged attempt at a governance attack. According to Curve, Mochi minted its own native tokens in order to buy and lock large amounts of CVX. (ref)

Notable events

The Worldwide Asset eXchange (WAXP), has seen a tenfold increase in daily NFT transaction volume in the past 30 days. The significant growth has been driven by a surge in gaming activity with a dozen games generating over $1million in NFT trading volume alone during the last month. (ref)

Chiliz (CHZ) launches live in-game NFTs for fan token holders. There were also recent exchange listings for CHZ, as well as a rapidly expanding ecosystem of partners. (ref)

Decentraland (MANA) is among the top 3 most searched cryptos on CoinGecko. (ref)