Cryptos: 30,602
Exchanges: 790
Market Cap: $2,168,438,349,642.4
24h Vol: $50,225,074,316.9
Dominance: BTC: 53.4% - ETH: 17.5%

Coinnerd Weekly Wrap: November 06, 2021

By

Things to look forward to

Zuckerberg’s Metaverse Might Be a Big Platform for Cryptocurrency Use

The facts & timeline

  • With Zuckerberg’s plans to shift Facebook into the “Metaverse”, the future of cryptocurrency is looking even brighter. The metaverse aims to use virtual and augmented reality and take it to the next level paving the way for digital assets like crypto.
  • The founder’s letter of the metaverse itself states that has plans for crypto so this is not just speculation on our part. 

Valkyrie Bitcoin ETF Delays

The facts & timeline

  • The SEC (SECURITIES AND EXCHANGE COMMISSION) has postponed its decision on the approval of the  Valkyrie Bitcoin fund on their recent notice. The decision has been moved to January 7, 2022. 
  • For more information regarding Valkyrie Bitcoin ETF, refer to the SEC’s registration statement here.

Conclusion

This week in crypto is pretty exciting with its fair shares of ups and downs. One of the saddest news on this wrapup is the Squid Game currency turning out to be a scam and taking millions of dollars from unsuspecting victims. On the upside, Ethereum is still growing in value and has long gone past the $4500 and it continues to grow as well. 

We also have Mcdonalds offering its very own NFT with the McRib which is not only a clever marketing plan but also a good way of introducing the general public to the world of digital assets. Lastly, one of Australia’s largest banks, the Commonwealth Bank of Australia has partnered with leading crypto platforms and is now offering crypto services to its customers. The world of crypto is getting more and more interesting and with banks and companies backing it up, it’s only going to get bigger.

We hope this information will help you in your investment process, but this is not investment advice. Every investment carries risk, especially in this industry, so DYOR before making a decision.

ABOUT THE AUTHOR

Huy

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