Weekly Market Highlights #6: 1st August - 7th August

Aug 08, 2022

The crypto market cap has tapped the $1.1Trillion

✨Over the past week, the crypto market increased ~$10B (from ~$1090B to ~$1100B) of its total capitalization

✨In the past few days, Bitcoin has remained relatively still. The primary crypto had jumped to over $24,6K (multi-week high)

The following few days saw bitcoin dipping below $23K. However, the asset ultimately settled around that level and remained there.

✨More fluctuations, as expected to a large extent, come from several altcoins.

✅BSCS is currently trading at ~$0,0174, up ~7.5% from its 7-day all-time low of $0,0162

✅ETH jumped to $1,7K. This is the highest ETH has been in just over a week.

✅DOT, AVAX, ETC have gained the most, up by about 5-6% daily. From the mid-cap alts, NEAR and FIL have increased the most.

✨Bitcoin Fear and Greed Index is 30 - Fear, lower than the beginning of the week (33)

✨Dominance:

✅BTC: 40.4%

✅ETH: 18.9%

Binance Unveils First-Ever Soulbound Token on BNB Chain

The world’s largest crypto exchange – Binance – has announced that it is all set to issue Binance Account Bound (BAB), the first-ever Soulbound Token (SBT) built on the BNB Smart Chain. BAB will initially be introduced as a pilot project and will only be accessible through the Binance app.

An opt-in feature will enable only those Binance users in compliance with Know-your-customer (KYC) to mint their BAB directly on their wallets while using the platform.

The BAB token is the first-ever Soulbound Token issued on the BNB Smart Chain that focuses on addressing identity issues in the decentralized society. It is a non-transferable and non-financialized token.

Soulbound

The concept of SBT was first introduced by Ethereum Founder Vitalik Buterin along with E. Glen Weyl and Puja Ohlhaver

Soulbound is a new token standard that could potentially form an essential building block for the Decentralized Society or DeSoc.

Recap Of The Highlights At Blockchain Global Day 2022

Recap Of The Highlights At Blockchain Global Day 2022

⭐️ On July 29th, one of the biggest technology events of the year - Blockchain Global Day (BGD) 2022 was successfully organized.

⭐️ With support from BSCStation - Sun Sponsor of this event. BGD 2022 aim to raise community awareness about Blockchain, sharing a comprehensive picture of blockchain technology for all aspects of the economy in Vietnam and international.

💥Highlights of this event💥

✅ Experts in the field and the world's top VCs attended this event with sharing the importance of Blockchain

✅ Two seminars on how to integrate Blockchain into Global technology trends

✅ The participants experienced the games and the high-tech space, and hundreds of Blockchain projects

✅ Gave many valuable gifts to participants

✅ Many fascinating entertainment activities such as the Con-Verse Cosplay contest, a Game Show match and a music night also received lots of subscriptions

Meta enables Instagram NFT integration in over 100 countries

💫A Meta newsroom post updated on Thursday shows that the Mark Zuckerberg-led company has begun its nonfungible token (NFT) expansion across 100 countries, Asia-Pacific, the Middle East, and the Americas. This includes adding support for wallet connections with Coinbase Wallet and Dapper and the ability to post digital collectibles minted on the Flow blockchain. The initial rollout targets the popular social media app Instagram.

🔗Flow is a layer-1 blockchain with its namesake FLOW token acting as tender for network participation, transactions and governance.

☄️Along with the metaverse, digital assets appear to have become one of Meta's core components for expansion. CEO Mark Zuckerberg said he was unfazed by the whopping $2.8 billion loss in the company's Metaverse division and that there was an opportunity to make "hundreds of billions," or even "trillions," of dollars as the sector matures.

After Four Years, Japan Brings Back Its First Crypto ATM

⛩The Japanese digital asset exchange Gaia will bring back cryptocurrency ATMs in Japan, installing such machines in Tokyo and Osaka.

⛩Japan Takes a Step Toward the Crypto Universe

🏧Gaia will install ATMs in Tokyo and Osaka. Initially, the machines will support four of the largest digital assets by market capitalization: Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), and Litecoin (LTC).

The company plans to deploy 50 crypto ATMs in the next 12 months, while their number should increase to 130 in the next three years.

🗺Concerning the number of cryptocurrency ATMs, it is worth pointing out that the United States of America ranks as the global leader. The country has almost 34,000 machines or around ten devices per 100,000 citizens. Canada takes the second spot with nearly 2,500 crypto ATMs.

☄️Interestingly, due to its small area, the special administrative region of China – Hong Kong – has the biggest density of automated teller machines.

British Soccer Club Oxford City to Embrace Bitcoin Payments

⚽️One of the oldest soccer clubs in the UK – Oxford City – will reportedly allow fans to purchase match tickets, food in bitcoin instead of fiat currency. The initiative will see the light of day following a multi-year partnership between the team and the digital asset exchange CoinCorner.

🏴󠁧󠁢󠁥󠁮󠁧󠁿Oxford City's Director of Football – Justin Merritt – noted Bitcoin is vital for the team to "operate as a self-sustaining club" and reflect on its long-term strategies.

"People don't need to engage with our new technology, but we believe in time paying via bitcoin will become the new normal in English football," Merritt stated.

🤵‍♂️Daniel Scott – Chief Executive Officer of CoinCorner – who believes other soccer teams will follow Oxford City's crypto path:

"We believe this move will set the trend across non-league and Football League divisions as digital currency establishes itself as the new normal for sports fans and eventgoers across the UK."

Almost 7% of People in Spain Have Invested in Crypto, Regulator Says

💪The National Securities Market Commission (CNMV) 's top Spanish regulator estimated that 6.8% of Spain's adult population had invested part of their wealth in cryptocurrencies. Most of them were from the high-income bracket

🗒Per the results, 6.8% have already bought bitcoin or altcoins

Young, educated, well-paid individuals are much more likely to be crypto investors. Almost 36% of the people aged 35 to 44 admitted being such, while only 7% of those between 55 and 70 have done the same.

Touching upon education, 43.3% of the crypto investors have university diplomas, while 28% lack that level of scholarship.

💪Like other countries, most HODLers receive solid salaries and stable jobs. The CNMV found out that 41% of those with paychecks over 3,000 euro have entered crypto's ecosystem, while 10.7% of the Spanish earning less than 1,000 euro have allocated some funds in the market.

📣 Stay tuned! The market's highlights will be updated by BSCStation.😎

About BSCStation

BSCStation - The fully decentralized protocol for launching new ideas. An all-in-one Incubation Hub with a full-stack Defi platform across all main blockchain networks. We provide exclusive services including IDO/INO Launchpad, Yield farming, NFT Auction, Marketplace, and BSCSwap

BSCStation operates on top of the all main blockchain networks and is designed to offer maximum value to consumers and institutions.

BSCStation platform uses the Sharing Economy Model for the purpose of profit-sharing, helping users to access DeFi platforms in the easiest, safest, and most cost-effective way. BSCStation is the most convenient bridge to connect users and application products on all main blockchain networks.

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