The crypto world continues to stabilize its market position in these past few days. In fact, more crypto assets are seen to be walking on the greener path along with the bulls. Through this, we can say that the crypto space is almost back on its feet from its bearish dip in the previous months of the year.
However, do you even wonder what is the reason behind the surge of the crypto market lately?
In this CryptoNewsLand article, we will discuss most of the highlights that happened in the crypto world in the past seven days. So, without further ado, here is the hottest news in the crypto world that you might have missed this week.
Untamed Isles, Star Atlas, Illuvium: New NFT Games Soon
While NFT gaming hit Axie Infinity is continuing its market dominance, an array of GameFi projects are starting to contest its position.
Upcoming GameFi platforms include Untamed Isles, Star Atlas, and Illuvium.
Untamed Isles is a monster hunting and taming, turn-based massively multiplayer online role-playing game (MMORPG). The game chose imaginary islands that popped out of nowhere as the setting. According to its website, the game will have an open early access this December 2021.
Read more Here : Untamed Isles, Star Atlas, Illuvium: New NFT Games Soon
El Salvador to Launch Bitcoin City, $1B Bitcoin Bond
El Salvador recently unveiled its plants to launch what it calls Bitcoin City. According to a Twitter post, this cryptocurrency metropolitan area will be located in La Unión, an eastern municipality of the country.
Read more Here : El Salvador to Launch Bitcoin City, $1B Bitcoin Bond
Square Releases Crypto Exchange tbDEX Whitepaper
Financial services platform Square recently announced its soon-coming decentralized cryptocurrency exchange tbDEX. Jack Dorsey, Twitter and Square CEO, wrote a tweet about the announcement.
Read more Here : Square Releases Crypto Exchange tbDEX Whitepaper
Ripple Submits Crypto Regulation Proposal Amid New Bill
US-based Ripple recently submitted a new proposal in conjunction with the Eliminate Barriers to Innovation Act (H.R. 1602). Specifically, Ripple proposes that the government would form a working group regarding crypto regulations.
This group will be composed of government entities such as the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). Also, Ripple proposes to include private companies in the fintech sector.
Read more Here : Ripple Submits Crypto Regulation Proposal Amid New Bill
Bitcoin Lightning Network Surges, Thanks to El Salvador
The Bitcoin Lightning Network capacity has reached a new all-time high (ATH) of 3,225 BTC. According to Arcane Research, the surge is due to El Salvador’s adoption of Bitcoin as a legal tender alongside the US dollar.
Read more Here : Bitcoin Lightning Network Surges, Thanks to El Salvador
Crypto Market Suffers Huge Crash. Here’s Why.
The crypto market is met with a bloody Tuesday, as most cryptocurrencies are experiencing a massive dip. Despite being coined “Moonvember”, the month has left even top assets like Bitcoin and Ethereum reeling from the roller-coaster crash.
Recently, US President Joe Biden signed the new infrastructure bill requiring tax reporting for brokers. Unfortunately, this affects US-based cryptocurrency exchanges. This way, cryptocurrency traders who live in the US will need to pay their taxes based on gains due to crypto trading.
Read more Here : Crypto Market Suffers Huge Crash. Here’s Why.