Lenda - Aug 26, 2022 - 3 mins read

Lendaview Weekly #13

The Rundown Powered By Arcane Research

•    It’s been a rough week in the market, with BTC breaking its strong uptrend momentum after a steep correction on Friday down towards $21,000, ending the week seeing losses of 11%. (Read article)
•    Ethereum saw weekly inflows totaling US$3m and has seen a turn-around in sentiment. Since mid-June, as there has been improving clarity on the Merge, Ethereum has seen a 9-week run of inflows totaling US$162m.
•    We’ve explored website traffic for 35 of the largest crypto exchanges globally, finding that U.S. traders are by far the most active participants in the market, representing 14.33% of all crypto exchange visits, while Binance is the most frequently visited crypto exchange by a landslide. (Read article)
•    Transaction fees are plummeting to levels not seen in more than two years, and now make up only 1% of miner revenues. (Read article)

A Deep Bite

First Mover Asia: Bear Market? Taxes? Crypto’s Allure in India Grows, KuCoin Survey Finds; Bitcoin Continues Holding Pattern Over $21K

Despite regulatory hurdles that Indians face to invest in or trade crypto, they remain upbeat about investing in digital assets and the sector’s outlook, a recent KuCoin survey has found.
About 15% of the population aged 18-60 as of June either hold or have traded crypto in the past six months, the survey showed. More than half of those who were holding crypto plan to increase their crypto investments over the next six months.
The KuCoin report follows months of drama about crypto taxes and regulation in India, and amid continued surging demand for cryptos and related services. More here

Weekly Bites

FTX grew revenue by 1,000% during the crypto craze, leaked financials show

FTX saw explosive growth last year, driven by its global trading business, according to audited financials seen by CNBC. The exchange took revenue from below $90 million in 2020 to more than $1 billion last year as cryptocurrencies hit an all-time high. More here

Singapore Court Grants Approval to 3AC Liquidators for Fund Probe

The probe will give greater insight into all financial records related to 3AC that are held in Singapore, including real estate, bank accounts, and cryptocurrencies. More here

Crypto, Stocks Edge Higher as Jackson Hole Inches Closer

Both crypto and equities markets have taken a breather as investors wait cautiously for central bankers to gather at Jackson Hole. The market is spilt on what the outcome of September’s Federal Open Market Committee may be. More here

Bank of Finland governor says digital euro could facilitate pan-European services to consumers

In a novel address at the University of California, Berkley published on Wednesday, Olli Rehn, governor of the Bank of Finland, touted the possibility of a digital euro centralized bank digital currency (CBDC) functioning in tandem with private fintech solutions to facilitate the cross-border payment of services across Europe. More here

Find an Ethereum Bug Before the Merge? You Could Earn a $1M Reward

The Ethereum Foundation has boosted its rewards for bugs discovered in code related to the upcoming merge. “Critical bugs” disclosed to the network’s developers could net a bug bounty of up to $1 million, up from $250,000. More here

Juggernauts Binance & Mastercard Join Forces For Crypto Payment At Over 90 Million Merchants

The two worlds collide, Web2 meets Web3. Binance meets Mastercard. The biggest crypto exchange and one of the largest credit card platforms join forces to let people make purchases in crypto at over 90 million merchants worldwide. More here

Uniswap Community Votes to Create First-time Foundation

Uniswap community members have voted to create the Uniswap Foundation, an organization that will support decentralized growth and the long-term sustainability of their namesake protocol. The Uniswap Foundation will focus entirely on supporting the decentralized exchange’s native digital asset. More here

MTV adds best metaverse performance to its award categories

The K-Pop Group BTS, Ariana Grande, and Justin Bieber are among the six metaverse musical acts nominated. MTV hopes the inclusion of a metaverse category will boost views of the show. More here

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