Weekly Report 12/06–12/12

MEXC Global
8 min readDec 12, 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 December 06 to December 12, according to MEXC Global, the hottest news in crypto world are:

Ethereum has reached an all-time high in market value

On December 12, according to Glassnode data, ETH has achieved a market capitalization of $224,064,904,941.23, a record high.

Bitcoin network difficulty increased by 8.33% to 24.2TB

BlockBeats news, December 11, according to the Master data on the Ouke cloud chain, the Bitcoin network at 18:02 today, the block height 713665 in difficulty adjustment, the whole network difficulty increased by 8.33% to 24.2T, a new high for the second half of the year, But it is still below the all-time high of 25.05T reached in mid-May. In recent weeks, the average block production time was shortened to 8.85 minutes.

Yield Guild Games Southeast Asia raised $15 million, led by Animoca Brands

YGG’s subDAOYield Guild Games Southeast Asia (YGG SEA) has announced the completion of a $15 million financing round. The round was led by Crypto.com Capital, Animoca Brands, MindWorks Ventures, Poloniex, Jump Capital and BRI Ventures, Bukalapak and United Overseas Bank Venture Management joined. YGG SEA will initially focus on Indonesia, Vietnam, Singapore and Thailand before expanding across Southeast Asia. This round of funding will help the company provide targeted products to the gaming community in the region.

BM, FOUNDER of EOS: It’s time to reinvent the EOS brand, with a renewed vision and purpose

On December 11, EOS founder BM (Daniel Larimer) spoke to the community, saying that it is time to rebrand EOS. Not only will EOS change its name, but it will also re-establish a new vision and new goals that can inspire community members to engage. EOS is the largest DAO..

Bloomberg analysts: There are 78 listed crypto funds in the world, with a total size of $66 billion

According to Data cited by Bloomberg analyst Eric Balchunas on December 10, there are currently 78 listed crypto funds globally, double the number in 2020. Currently, there are more than 40 ETF registrations pending in the United States alone. Etfs, he says, will be “generation 5.0” attached to digital assets.

CCTV financial channel: the transaction of “real estate” in the universe broke out, with the transaction volume exceeding $100 million in a week

BlockBeats news, on December 10, according to CCTV financial channel reported that the recent transaction of the “real estate” of the universe is hot, with the transaction volume exceeding 100 million DOLLARS within a week. Among them, THE SANDBOX platform’s transaction volume exceeded $86 million in THE past 7 days, making it THE largest metasexe-related platform in terms of transaction volume. CCTV’s financial channel stressed that, like other virtual assets, the “real estate” in the meta-universe also has security risks. If the meta-universe declines, or enthusiasm in the market fades, or regulatory policies are adjusted, it may bring huge downward pressure to the price

South Korea proposes to ban withdrawals from CEX platforms to non-KYC wallets

According to CoinGape News, South Korea plans to ban all anonymous virtual currency transactions in order to prevent money laundering and illegal activities. Regulators have proposed new rules, Users will be banned from withdrawing money from CEX Korea to non-KYC wallets such as MetaMask from March 2022. South Korean regulators said that in future, when CEX platforms transfer virtual assets such as Bitcoin or Ethereum, they will have to keep records of “who sent and who received”, and trans

ConsenSys: OpenSea accounted for 97% of NFT market volume in Q3 2021

ConsenSys reports that OpenSea accounted for 97% of NFT market transactions in q3 2021, following a record August, The platform accounted for $3.16 billion of the total $3.25 billion in SALES in the NFT market, and more than 6,000 NFT collections on OpenSea experienced at least one transaction, including purchase, sale, or foundry.

Bill Gates: In the next two or three years most virtual conferences will move to the metasverse

On December 10, Bill Gates announced his 2021 year-end review. 2021 gives us a preview of a more digital future, he says. Digitalization is here to stay, but the technologies humans use will continue to get better over time. Gates predicts that the metasomes will revolutionize office work.

The International Monetary Fund has urged the world to jointly regulate cryptocurrencies

On December 10, the International Monetary Fund (IMF) urged all countries to work together to address the impact of the surge in cryptocurrencies and other new forms of financial assets, as reserve banks lowered expectations that they would soon offer their own digital currencies. The IMF said a global approach was needed to regulate emerging technologies and needed to include rules similar to those for fiat currencies.

CryptoPunk #4156 traded for $10.48 million at 2,500 ETH, the highest dollar transaction in the series

CryptoPunk #4156 was traded at 2500 ETH on December 10 for $10.48 million, setting a record for the NFT series. According to the CryptoPunks official website data show that after the completion of this transaction, the total sales of NFT series reached 611,143 ETH, the total transaction amount is about 1.77 billion US dollars, if calculated according to ETH transaction volume, CryptoPunk #4156 ranks the third in this series. It lags behind CryptoPunks #3100 and #7804, whose NFT transaction volume is 4200 ETH.

Social giant WhatsApp has been testing cryptocurrency transfers on its platform for select users in the US

According to The head of Novi Wallet, social giant WhatsApp has begun testing cryptocurrency transfers within its chat interface for select users in the US.

Bitcoin’s share of market capitalization fell to 40.37%

On December 9th, according to Tradingview data, bitcoin’s share of market capitalization fell to 40.37%, the lowest in two months.

Elon Mask: We sent “People” to the moon

BlockBeats news, On December 9, Elon Mask posted a picture on social media that seems to mention ConstitutionDAO (PEOPLE). In 1969, NASA sent a man to the moon on a computer with four kilobytes of memory. But now that eight gigabytes of memory is common, Chrome still runs out of memory when it opens too many tabs. However, Mask replaced “Send Humans to moon” with “Put People to The moon” in The original picture.

The number of ETH addresses exceeded 6.34 million, hitting a record high

On December 8, according to Glassnode data, the number of ethereum network addresses holding more than 0.1 ETH reached 6,344,589, a record high.

The Australian government is set to launch a wholesale payment system overhaul that will bring cryptocurrencies under regulation

Australia’s government on Wednesday will announce the biggest overhaul of its payment system in 25 years, with new regulations that will broaden the definition of services and products subject to regulation, Treasurer Josh Frydenberg said. Make cryptocurrencies and digital assets regulated.

Visa launches crypto advisory service for traditional banking institutions

Visa has officially launched a global crypto advisory service to help financial institutions grow their crypto related businesses, CoinDesk reported. Cuy Sheffield, head of cryptocurrency at Visa, said Visa plays a key role in helping traditional banks interact with the crypto ecosystem, and that every traditional banking institution should lay out a strategy for the crypto industry. Visa’s cryptography advisory team will provide guidance on cryptography for traditional banking institutions and help banks build their own cryptography departments.

The third largest bitcoin whale bought another 388 BTCS and has bought more than 10,000 BTCS since November

The third largest bitcoin whale, which bought 2,702 BTCS yesterday, bought another 388 BTCS today for $50,600, according to CryptoQuant analyst VentureFounder. The total investment is about $19.5 million. In addition, since the market downturn in November, The Whale Wallet has bought 11,207 BTCS, or about $567 million at current prices. Some have pointed out that the transaction may be cold wallet behavior on exchanges like Robinhood, but VentureFounder believes that this volume and trading pattern is not like exchange platform behavior and is very different from other cold wallet transactions.

Data: Crypto Whale bought nearly 100 billion ShiBs worth nearly $3.8 million

WhaleStats, a whale resource monitoring platform, discovered that a BSC on-chain crypto whale purchased 99,999,999,999 ShiBs (worth nearly $3.8 million) on the afternoon of December 7. The high purchase volume makes this account number two on WhaleStats.

Russia’s central bank opposes the provision of cryptocurrency-related financial services in the country

Russia’s Central bank said on December 7 that it opposes the provision of cryptocurrency-related financial services in the country, believing that such products are risky and not conducive to the interests of Russian investors. According to a recently released statement, the country’s financial enterprises have put forward proposals to allow cryptocurrency investment in the Russian Federation. In response to the recommendations, the Russian Central bank said: “We consider that services provided by financial institutions related to crypto assets and derivatives operations of such assets are not in the interests of investors in financial markets and are highly risky.” Therefore, the proposal of members of the financial sector to authorize the provision of crypto-related services was rejected.

Nasdaq Stockholm trading platform launched physically supported BTC and ETH trading platform trading notes

On December 7, Nasdaq Stockholm announced that 21Shares has listed physically supported Bitcoin and Ethereum exchange Traded Notes (ETN) on the exchange. As an unsecured debt security that tracks stocks on major trading platforms and the underlying index of trades, the investment vehicles with Bitcoin (BTC) and Ethereum (ETH) as underlying assets represent a new frontier for trading platforms to trade notes.

Tether issues 1 billion USDT in Tron (authorized but not yet issued)

On December 7th, according to Whale Alert data, stablecoin publisher Tether issued 1 billion USDT in Tron Tether CTO Paolo Ardoino added that this is an authorized but unissued transaction, meaning the additional offering will be used for the next distribution request and on-chain interaction.

Ethereum miners have earned more than bitcoin miners for seven months in a row

On December 7th, Ethereum miners outearned bitcoin miners for The seventh consecutive month, according to The Block Research. Bitcoin miners took in $1.69 billion last month, down 2% from the previous month. Ethereum miners, by contrast, earned $1.99 billion, up 11.8 percent from October, when their overall income was 1.18 times that of Bitcoin miners.

Grayscale: 26% of U.S. bitcoin holders in 2021, up from 23% in 2020.

Investors are embracing bitcoin and are less concerned about systemic risks such as cyberattacks, volatility and regulation than in previous years, according to a new Grayscale survey. Grayscale found that the percentage of Americans who own Bitcoin increased from 23 percent in 2020 to 26 percent in 2021. In the past 12 months, more than half (55%) of investors surveyed were first-time investors in Bitcoin and consider it a long-term investment that fits the overall investment strategy.

Vitalik Buterin launches “Blockchain for Big Blocks” roadmap

On December 7, Vitalik Buterin released the “Big Block Chain” roadmap, which mainly includes the following four points:

1. Add a Layer 2 pledge, which has low resource requirements and can therefore perform distributed block verification. Transactions in a block are divided into 100 buckets, each with a Merkle or Verkle tree state root behind it. Each secondary pledgee is randomly assigned to one of the buckets. A block will only be accepted if signed by at least two-thirds of the verifiers assigned to each bucket.

2. Introduce proof of fraud or ZK-SNARK, allowing users to directly (and cheaply) check block validity. Zk-snarks can be directly encrypted to prove block validity; Proof of fraud is a simpler scheme where if a block has an invalid bucket, anyone can broadcast proof of fraud for that bucket. This provides another layer of security on top of randomly assigned validators.

3. Introduce data availability sampling to allow users to check block availability. By using DAS checking, light clients can verify that a block has been published simply by downloading some randomly selected blocks.

4. Add secondary trading channels to prevent censorship.

--

--

MEXC Global

Founded in 2018, MEXC Global is a centralized exchange that employs a high-performance mega-transaction matching technology. Visit us at https://www.mexc.com/