Weekly Report 11/22–11/28

The MEXC Weekly Report is a recap on some of the biggest news in the blockchain world, in the Around the Blockchain Universe segment.

For the week November22 to November28:

The number of addresses holding more than 10BTC reached 148,466, a four-month high

On November 28th, according to Glassnode data, the number of bitcoins held above 10 BTC reached 148,466, the highest in four months

ConstitutionDAO (PEOPLE) broke through $0.15 and trading volume exceeded $200 million in 24 hours

BlockBeats news, November 27, according to Uniswap data shows that ConstitutionDAO native Token PEOPLE broke through $0.15, now quoted $0.15, up 367% in 24 hours.

According to platform data, ConstitutionDAO (PEOPLE) traded $98.08 million in 24 hours on Uniswap and $138 million in 24 hours on OKEx.

Google cybersecurity report: 86% of cloud platform breaches were for cryptocurrency mining

Of the 50 Google Cloud platforms (GCP) hacked, 86% were used for cryptocurrency mining, which typically consumes a lot of computing resources and storage space, according to a new data report released by Google’s cybersecurity action group on November 27. Other hacks include phishing scams and ransomware.

Bitcoin overtakes Paypal on value transferred, sets sights on Mastercard

Blockdata’s report titled When might the Bitcoin network process volumes like Mastercard and Visa? points out that the Bitcoin network processed about $489 billion per quarter in 2021, which is greater than Paypal’s $302 billion. After just 12 years in existence, Bitcoin processes about 27% of Mastercard’s $1.8 trillion per quarter, and 15% of Visa’s $3.2 trillion.

Russians transact $5B in crypto each year, Bank of Russia says

Citing estimations reported by major local banks in July 2021, the Bank of Russia suggested that the total annual volumes of crypto transactions of the Russian population amount to 350 billion rubles, or $5 billion.Though Russia has become a global leader in the crypto market, the Bank of Russia is still skeptical about Bitcoin.

Third-Largest Bitcoin Whale Bought $375 Million Worth of BTC in 11 Days

In a matter of two weeks, one of the largest BTC whales has accumulated more than 6,600 coins as the price of the asset has declined by more than 10% in the same timeframe.According to VentureFounder, this whale now has their highest wallet balance in four months when they were accumulating at prices around $30,000.

Ethereum Has Burned 1 Million ETH Since August Hard Fork

Since EIP-1559 went into effect, over $4 billion in transaction fees have been destroyed by the Ethereum network.

Office of the Comptroller of the Currency: Banks need regulatory approval to carry out crypto services

The Office of the Comptroller of the Currency (OCC) said banks should notify regulators before they start crypto businesses that they can do so with regulatory approval.

Metaverse Gaming, NFTs Could Account for 10% of Luxury Market by 2030: Morgan Stanley

Metaverse gaming and non-fungible tokens could represent a revenue opportunity of 50 billion euros for the luxury market by 2030, Morgan Stanley said. That would be 10% of the total addressable market.

Uzbekistan allows residents to trade cryptocurrencies on local exchange platforms

According to Bitcoin News, uzbekistan’s National Project Management Agency (NAPM) recently revised its rules relating to local cryptocurrency transactions. Under the new rules, Uzbek residents will be able to buy, sell and exchange crypto assets in the country in exchange for local currency. It is also possible to exchange cryptocurrencies for foreign fiat currencies.

More digital banks will be licensed to operate in Saudi Arabia

Saudi Arabia’s Central bank Governor Fahd al-Mubarak said at the Financial Stability Forum on Thursday that the country is capable of shifting to digital currencies. “The current currency exchange policy in the Gulf is very similar to digital transactions and relies heavily on the U.S. dollar. So we have the ability to move to digital currencies at the regional level,” he said.

ABGA Asia Blockchain Games Alliance was established

ABGA (Asia Blockchain Gaming Alliance) has officially launched in Singapore. Its founding members include Huobi Ventures, KuCoin, Polygon, Yield Guild Games(YGG), The9 Limited (The9), Spark Digital Capital, and more. In addition, the alliance also has Media and community partners such as Media Publishares, Cointelegraph China, Blockcast.cc, etc.

The total market value of meta-universe related crypto assets exceeds $48 billion

According to CoinMarketCap, the total market value of crypto-assets related to the metaverse currently exceeds $48.85 billion.

Japan’s biggest banks and about 70 Japanese companies will join forces to begin experimenting with digital currencies

A new digital currency backed by bank deposits will have a trial run in Japan as early as this year, thanks to a joint effort by the country’s banking giants and about 70 other companies, the Nikkei business Daily reported On Nov 24. The scheme is run by the Digital Currency Forum, whose members include Bank of Mitsubishi UFJ, Sumitomo Mitsui Banking And Mizuho Bank, as well as Japan Post Bank and Nippon Telegraph and Telephone Group.

U.S. banking regulators will provide detailed information in 2022 on how banks will be allowed to engage in cryptocurrency activities

The US banking regulator has announced that it will provide clearer information by 2022 on which cryptocurrency activities banks are legally allowed to conduct.

Elon Musk responds to Binance: Doge holders who use Binance should be protected

On November 23, Elon Musk tweeted in response to Binance’s announcement that Doge owners who use Binance should be protected from mistakes that are not their fault

Market Report: The fintech blockchain market is expected to grow by $9.34 billion by 2025

The fintech blockchain market value is expected to grow by $9.34 billion from 2020 to 2025, with a CAGR of more than 63%, according to a report on the fintech blockchain market on November 22. Segmented by component (platform and services) and geography (North America, Europe, Asia Pacific, South America and MEA), North America will be the leading region, accounting for 44% of market growth during the forecast period; The United States and Canada are the major markets for north American fintech blockchain.

Stats: Solana currently has more than twice as many active developers as ETH

Solana currently has more than 200 active developers, more than double the number of ETH active developers, according to Santiment. Elrond, Algorand, Terra, Avalanche and Fantom rank 3rd to 7th in terms of the number of active developers on public chains.

BTC trading platform balances continued to decline to a three-year low

On November 22, according to Glassnode data, the BTC trading platform balance continued to decline, reaching a three-year low of 2,424,806.176 BTC.

Australian regulators are working with lawmakers on digital currency rules

Australia’s regulator said on Monday it is working with lawmakers to develop rules for digital currencies, Reuters reported, but warned that many crypto assets remain unregulated and require investors to invest “on their own” in such products. The regulator also said it is working with lawmakers who have proposed amending the law to allow decentralized autonomous organizations (DAOs) managed by AI rather than boards, as well as licensing regimes for cryptocurrency trading platforms.

Jpmorgan: the NFT market has reached $7 billion

BlockBeats news, on November 22, JPMORGAN Chase statistics show that the market size of NFT field has risen from nearly $1 billion in July to $7 billion now. “By creating markets for illiquid assets such as digital art, collectibles, music and games, the NFT sector is sure to continue to grow strongly in the coming years as it helps solve the problem of injecting liquidity into natural illiquid assets”.

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