Weekly Report 11/29–12/05

MEXC Global
5 min readDec 5, 2021

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 of November 29 to December 5, according to MEXC Global, the hottest news in crypto world are:

The average bitcoin transaction size (7D MA) reached a near three-month high

On December 5th, the average bitcoin transaction size (7D MA) just hit a three-month high of 710.561, according to Glassnode data.

Musk: NFT is another form of the dollar

NFT is another form of the dollar, Musk said on December 5 in response to a tweet from the founder of Dogecoin that “cryptocurrency has changed since 2013 and become riddled with fraud.”

Ethereum trading platform inflows (7D MA) hit a near one-month high

On December 5th, according to Glassnode data, ethereum trading platform inflows (7D MA) reached 10,565.304 ETH, the highest in nearly a month.

Elon Musk once again mocked Web3 on social media

On December 4, Elon Musk once again mocked Web3 on social media. The picture published this time implies that Web3 supporters like to promote the concept of Web3, decentralized organization (DAO) and other cryptographic fields to others on all occasions.

Stats: Ethereum DeFi lost over $2.93 billion to hacking, Solana DeFi lost just $16,000

According to Data cited by Joe McCann, blockchain developer, ethereum DeFi has lost more than $2.93 billion due to hacker attacks, and BSC DeFi has lost more than $650 million due to hacker attacks. Solana DeFi lost just $16,000 to the hack. Meanwhile, there have been 108 attacks on the Ethereum chain, 45 attacks on the BSC chain and only three attacks on Solana.

Goldman Sachs and other Wall Street banks are exploring ways to lend in bitcoin

Goldman Sachs and several other Wall Street banks are experimenting with three-way buybacks to explore ways to lend institutional cash against Bitcoin, CoinDesk reported On Dec. 3. This experiment could lay the foundation for future cryptocurrency prime brokerage services.

$106M worth of Metaverse land sold last week: DappRadar

Undoubtedly, Metaverse land is the next big hit in the NFT space. Outputting record sales numbers and constantly increasing NFT prices, virtual worlds are the new top commodity in the crypto space.

The number of ETH addresses fell to 6,296, the lowest in four years

According to BlockBeats, on December 3rd, according to Glassnode data, the current amount of coins held in ethereum network is over 1,000 and the number of ETH addresses has dropped to 6,296, the lowest in four years.

The SEC has rejected WisdomTree’s application for a spot Bitcoin ETF

On December 3, the SEC rejected WisdomTree’s application for a spot Bitcoin ETF. The SEC said the spot Bitcoin ETF failed to meet its obligations under the Securities Exchange Act and the Commission’s rules of business to demonstrate that its proposal complied with national securities exchanges’ rules “designed to prevent fraudulent and manipulative conduct” and “protect investors and the public interest.”

India: There will be no ban on cryptocurrencies and seBI will step up regulation

New Delhi: India said on December 3 that it will ban cryptocurrencies and that the Securities and Exchange Board of India will step up regulation of them.

Vitalik Buterin releases an updated roadmap for the Ethereum Beacon chain

On December 3, Ethereum founder Vitalik Buterin celebrated the birth of his beacon chain in a post on social media, announcing an updated roadmap that shows where ethereum protocol development is now and where it will go in the future.

China’s central bank proposes to monitor metaverse and NFTs

The metaverse and NFTs are in the crosshairs of the People’s Bank of China, which wants to track the with Anti-Money Laundering tools.

Coinbase will launch Coinbase Cloud, aiming to be the first company to do so

On Dec. 2, Forbes reported that Coinbase will launch Coinbase Cloud, its own Cloud service, aiming to follow e-commerce giant Amazon into new business areas. In January, the exchange announced it was acquiring Bison Trails, a leading blockchain infrastructure platform, with co-founders Joe Lallouz and Aaron Henshaw becoming the new heads of Coinbase Cloud.

Binance may withdraw its crypto license application from the Monetary Authority of Singapore

Binance, a cryptocurrency exchange platform, may withdraw its application to the Monetary Authority of Singapore for a digital currency payment license and move its global headquarters to another location, the Business Times reported On December 2.

Uniswap accounted for nearly 80% of total ethereum DEX volume

On December 2, Uniswap accounted for 79% of total transaction volume on Ethereum DEX, according to Dune Analytics.

SEC chairman: Institutional investors want progress on crypto custody

Gary Gensler, chairman of the US Securities and Exchange Commission, said in an interview on December 1 that many cryptocurrency entrepreneurs are trying to avoid regulation. Institutional investors want to make progress in cryptocurrencies custody. Most cryptocurrencies are mainly used to raise capital. Many crypto decentralized financial platforms are not truly decentralized, and SEC Chairman Gensler reiterated his call for crypto trading platforms to register as required by the SEC.

At present, DeFi lock-up volume in the whole network exceeds 276 billion US dollars, a record high

According to Data from DeFi LIama, the current DeFi lock-up volume reached 276.65 billion US dollars, a record high. Currently, the top five public chains are ETH ($181.77 billion), BSC ($19.59 billion), Solana ($14.79 billion), Avalanche ($13.81 billion), and Terra ($11.67 billion).

Bitcoin transaction fees are down by over 50% this year

Transaction fees have dropped this year, after a spike earlier this summer.

UK digital services tax targets crypto exchanges

Britain’s crypto exchanges will be levied with a 2% tax which is likely to be passed on to investors warned CryptoUK.

Finance and Economics: Zhao Changpeng tops the Chinese rich list with a fortune of $90 billion

Zhao Changpeng, CEO of Binance, a crypto trading platform, has topped the Chinese rich list with a net worth of $90 billion, Caijing magazine reported on Nov. 30. Zhao Changpeng, Binance’s founder and CEO, owns 30 percent of Binance and is now worth $90 billion, based on the platform’s latest valuation of $300 billion, according to Forbes. Zhong Shanshan, chairman of Nongfu Spring, has become the richest Chinese in The World, with a net worth of 424.4 billion yuan.

CZ is launching a bonus event that will give away a custom DOGE Tesla and $50,000 in Dogecoin

On November 29, CZ launched a rewards campaign that will give winning Twitter users a customized DOGE Tesla or $50,000 in Dogecoin. To participate, users need to follow Musk and the official TWITTER accounts of CZ and Binance and tweet which of the two prizes they would like to win, including the hashtags #DOGEorTesla and #Binance, and have a Binance KYC account. Finally, Binance officials will select the winning user from those who meet the criteria (one from each of the dogecoin and Tesla groups).

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