FALI Crypto Weekly #1

FALI Crypto Weekly #1

Welcome to FALI's first issue of Crypto Week, we will briefly summarize the highlights of the past week, and bring you the most useful information about market fluctuations. In the first half of August, there is a lot of interesting information including both good and bad. Let's take a look at FALI's notable news from the past week.

Cryptocurrency Market 8/8 - 14/8

FALI can encapsulate the highlights of the past week with major fluctuations and events as follows:

- BTC stands firm in the face of bad news, altcoins keep growing: Up to now, BTC holds steady at around $24,251, up 5,69%. The trading volume in the past 24 hours reached $9.4 billion. Other cryptocurrencies especially like ETH have extremely strong growth, holding steady at $1922. Due to information about The Merge, many projects in the ETH ecosystem set new peaks, the market overview last week was colored "Green".

- The Merge comes from Ethereum: Ethereum has successfully tested The Merge on the third and final testnet. The Merge will deploy to the Mainnet ETH in a month (About 15 - 16 September), making the Proof-of-Stake dream of the world's second largest cryptocurrency more real than ever.

- Tornado Cash has been blacklisted by the US: This has led many projects on the Ethereum ecosystem to block Tornado Cash to avoid legal risks, causing users to question the "Decentralization" big question. In particular, large projects from ETH such as Uniswap, Aave, Balancer, etc. have even blocked users' wallets because they were related to Tornado Cash.

- Market sentiment has improved: According to data from the fear & Greed Index - Fear&Greed Index has returned to a more positive level, which shows that market sentiment has become more positive and has escaped from the previous extreme sentiment. , this is mainly from the rally of Bitcoin and Altcoins. Retail investors have returned to the market and gradually re-entered their positions.

- Binance's CZ claims to focus on Web3 instead of offering stock trading: During a talk at the latest GM podcast, CEO Changpeng Zhao (CZ) emphasized that Binance is a pure Web3 company and will focus more heavily on Web3 development. CZ also advised Web3 projects that they should focus on development instead of just calling for initial capital, users are the key element of the project, if only raising capital and stopping there, no one will dare to invest in the project, your project even if you raise initial capital up to tens of millions of dollars.

- Dogecoin and Shiba Inu escape the "meme coin" shadow: the two projects that started the meme coin trend in previous years have had significant growth, even Shiba Inu is planning to release the game and Dogecoin continues praised by Elon Musk for being easier to use and friendlier than BTC.

Above are the notable updates of the past week, hope that it will satisfy you. News is updated through many trusted news sources such as Coinmarketcap, Coin360, Binance, etc. Stay tuned to FALI for more news updates.

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