Weekly Report (11 July – 17 July 22) | What Happened This Week In Crypto

This Report will provide you with some important and quick news about cryptocurrencies that happened around the world.

1) On-Chain Data Indicates Bitcoin Miners Could Be About To Dump

As noted by an expert in a post on CryptoQuant, the BTC miner reserve has declined over the last day. The “miner reserve” is a statistic that measures the current total amount of Bitcoin saved in the wallets of all miners…[continue reading]

2) A Celsius Bankruptcy Might Increase Bitcoin Mining Difficulties

Since the cryptocurrency market fell below $30,000, Bitcoin miners have encountered increasing profitability challenges. The Trust Project is an international coalition of news companies tasked with developing transparency standards…[continue reading]

3) Putin Modifies Law To Expand Russia’s Ban On Crypto Payments

Anatoly Aksakov, a member of the Russian State Duma, presented the amendment on June 7; it prohibits the use of security tokens, utility tokens, and non-fungible tokens (NFTs) as payment for products and services in the nation…[continue reading]

4) JPMorgan Analysts Are Worried About The Lower Cost Of Bitcoin Mining

JPMorgan analysts led by Nikolaos Panigirtzoglou are worried that the cost of creating one Bitcoin ($BTC) has fallen from approximately $24,000 at the beginning of June to under $13,000, which may be bad for the price of the cryptocurrency due to increased selling pressure…[continue reading]

5) CryptoPunk Sells For $2.6 Million As The Floor Prices Of Major NFT Brands Rise

Despite the enormous decline in the NFT market, CryptoPunk 4464’s price of $2.6 million indicates that top NFT projects are still attracting significant interest. Despite a significant fall in trading volume in the nonfungible token (NFT) market as a whole, a single CryptoPunk was sold for a staggering 2,500 Ether (ETH), or well over $2.6 million…[continue reading]