Weekly Report 12/13–12/19

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 13 to December 19 according to MEXC Global, the hottest news in crypto world are:

The American Banker predicts that more than a third of banks will offer encryption within three years

On December 19, American Banker released its 2022 banking forecasts based on a survey of 175 senior executives. This includes C-level, regional and sector executives from global and community finance companies. Cryptocurrencies will play a bigger role in traditional banking next year, according to the report. Nearly 40% of respondents said they were likely to offer encryption to retail customers in the next year; About 10% of customers currently manage Bitcoin or other digital currencies in their customer accounts; On average, respondents said 4% of their consumer customers currently own some type of cryptocurrency; Sixty percent of survey participants said they expect cryptocurrency ownership by consumer customers to increase in 2022.

Ethereum Bridges TVL approaches $22.5 billion

Ethereum Bridges TVL currently stands at $22.49 billion, according to DuneAnalytics. Ronin Bridge ($6.089 billion), Avalanche Bridge ($5.919 billion), Polygon Bridges ($5.389 billion) and Arbitrum Bridges (22.84) are the top five $1 billion), Fantom Anyswap Bridge ($1.379 billion).

Zuckerberg: India can play an important role in building the metasverse

India has an important role to play in building the meta-universe due to its large number of creators and developers, Meta CEO Mark Zuckerberg has said. According to Zuckerberg, India already has one of the largest Spark AR developer communities and is on track to become the world’s largest app developer base by 2022. In addition, India’s online gaming market has grown significantly in the past few years as Meta has increased its investment in the country’s gaming sector.

The SEC has delayed its decision on Bitwise and Grayscale bitcoin ETF applications until February 2022

December 18th. According to The Block, The SEC has postponed its decision on the Bitwise Bitcoin ETP Trust and Grayscale Bitcoin Trust applications to February 1, 2022 and February 6, 2022.

Reddit co-founder has partnered with Polygon to launch a $200 million fund focused on Web3 and social media

Reddit co-founder Alexis Ohanian’s venture capital firm Seven Seven Six and Polygon have launched a $200 million fund, Focus on Web3 and social media projects. Polygon said the initiative will be used to explore better ways for humans to communicate online and will provide infrastructure for projects supported by the initiative. Ohanian co-founded news and content forum Reddit in 2005, which has been described as “America’s version of tieba”. He went on to set up Seven Seven Six, a venture capital firm, which raised $150 million for its first fund. Ohanian was also an early investor in Coinbase.

E-commerce giant Shopify has added casting and trading NFT services, now available to Shopify Plus merchants in the US

On December 17, e-commerce giant Shopify added a new service to foundry and trade NFT, launching a beta platform that is currently only available to Shopify Plus merchants in the US. Shopify has partnered with GigLabs, which specializes in NFT services on Flow chains. Currently, Shopify NFT platform supports casting NFT on ETH, Polygon, Near and other blockchains. The NFT Beta program is only available to Shopify Plus merchants located in the United States.

Ethereum’s top 1000 whale wallets hold over $500 million GALA

According to WhaleStats, Among the top 1000 Ethereum whale wallets, Gala Games (Gala) has accounted for 2.07% of the total holdings of tokens other than ETH. Worth about $520 million. Meanwhile, these whale wallets hold about $1.6 billion in SHIBs, $1.5 billion in FTT, $1.1 billion in USDT, $580 million in OKB, $170 million in MANA, and $160 million in SAND.

Data: $2.7 billion ETH options expire On December 31 with a maximum pain point of $2,560

On December 16, According to Deribit data, $2.7 billion of ETH options will hit the floor on December 31, accounting for 42 percent of total option holdings (OI), with a maximum pain point of $2,560.

Bridgewater founder: Blockchain will revolutionize and Bitcoin has some value

Bridgewater Fund founder Ray Dalio said on December 16 that he believes in blockchain technology, which will bring a revolution, and has gained credibility. Dalio said bitcoin has been a remarkable achievement because it has worked and worked in a unique way since its invention. He said that while he is not a bitcoin expert, he sees some value in bitcoin as a small part of a portfolio. Bitcoin is like gold, even though gold is the blue-chip alternative to the accepted legal tender. “Bitcoin has other issues,” Dalio said. “If it becomes a threat to governments, it may be banned in some places, but not everywhere, when it becomes relatively attractive. I don’t think central banks or major institutions will hold large amounts of bitcoin.” He further added: “I hold a little bit money, because I think in the worst case, the portfolio should be started from the protection of its assets, and make sure it is diverse. The currency is almost young generation substitute for gold, it has no intrinsic value, but the estimate value, so it has some advantages.”

Fed Chairman Jerome Powell: I don’t see financial stability risks from cryptocurrencies at this time

BlockBeats news, December 16, Federal Reserve Chairman Powell said that cryptocurrencies are risky, cryptocurrencies are not supported by any, but currently do not see the financial stability risks posed by cryptocurrencies.

Thailand’s central bank will release a consultation document on the regulation of digital assets in January

The Bank of Thailand (BoT) plans to propose comprehensive legislation for the digital asset industry in January next year. The rules are designed to reduce risk in financial networks and provide better protection for investors. Sethaput Suthiwartnarueput, governor of the Bank of Thailand, said the institution would issue a consultation paper on the “financial outlook” in January 2022. The document will draw red lines for those dealing with Bitcoin and copycats. The Bank of Thailand will also work with the State Securities and Exchange Commission and the Ministry of Finance to ban digital assets as a means of payment within the country. Suthiwartnarueput also warned that while digital assets have the potential to thrive in the monetary system, they are currently highly volatile.

The bitcoin network has cleared $1.2 trillion in transactions this year

On December 14, according to Bitcoin Magazine, $1.2 trillion of transactions have been settled on the Bitcoin network this year. It is reported that this figure is about equal to the entire merchandise exports of Germany in 2020.

Musk: Dogecoin will be available to buy Tesla products in the future

Tesla CEO Elon Musk said on December 14 that dogecoin will be available to buy some Tesla products in the future.

Bank of America: Cryptocurrency will rebound if December FOMC is dovish

Crypto, tech and banking stocks will rebound if The Federal Open Market Committee (FOMC) is dovish in December, according to bank of America’s survey. Only 36% thought inflation was permanent and 55% thought it was temporary.

G20 presidency: CBDC must be issued, but there is no clear target

The central bank digital currency CBDC cannot be rejected and must be issued, according to representatives of G20 countries at the G20 presidency meeting in Indonesia, According to Indonesia’s Handelsblatt. Dody Budi Waluyo, assistant governor of Bank Indonesia, said the issuance of the central bank’s digital currency would also boost the development of digital currencies managed by the private sector. Dody Budi Waluyo said that from the central bank’s perspective, CBDCS should be issued by central banks, but currently G20 countries have not set a target for when to issue central bank digital currencies, as most countries are just getting into the field and there is no standardized central bank digital currency that can be connected across borders.

Russia’s central bank has banned mutual funds from investing in cryptocurrencies

On December 13, The Russian Central Bank issued an official statement on regulating investment opportunities for mutual investment funds, banning fund managers from buying cryptocurrencies and financial instruments whose value depends on the price of digital assets, Cointelegraph reported. The statement stressed that mutual funds are not allowed to offer cryptocurrency exposure to qualified or unqualified investors.

OpenSea transactions hit a record high of $13 billion on the NFT market

On December 13, according to the latest data, the total value of OpenSea transactions in the NFT market has exceeded $13 billion, hitting a record high. At the time of writing of this article, the total value was $13.02 billion, ranking first in the NFT market. In second place was Axie Infinity with $3.792 billion, followed by CryptoPunks with $2.3 billion. As the first NFT marketplace to be established on the Ethereum blockchain, OpenSea’s trading volume has surged over the past year along with the NFT boom, topping $10 billion on November 2 and $11 billion on November 18, On December 1, Opensea crossed the $12 billion mark, which means that in less than two months, Opensea transactions have grown by more than $3 billion.

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