Despite having spent a relatively quiet week in the crypto market, today we bring you a summary of the news that you should keep in mind to start the week.
Top crypto news of the week
$ 1 billion worth of Bitcoin options expired
In last Thursday’s crypto summary, we reported on how the Open Interest of Bitcoin options had reached a record value of $ 2.14 billion for the week.
We also talked about what the impact of the expiration of $ 1 billion in Bitcoin options could be. This happened on Friday and we anticipated a possible increase in volatility.
Nonetheless, the price of Bitcoin remained fairly stable through Saturday, despite 89,100 options contracts expiring the day before and a hacker mining $ 150 million worth of cryptocurrency from KuCoin.
Is Bitcoin losing popularity?
According to data from Google Trends, the current interest in Bitcoin does not compare anywhere near its peak in 2017. Which is a curious finding and therefore one of the most prominent crypto news of the week.
The global economic context makes us think that the general public could be more interested and curious about Bitcoin and crypto. However, Google data tells us otherwise.
In fact, not even DeFi has managed to pique the interest of the general public.
The community finally has a Bitcoin ETF!
Yes, we also had a hard time believing it. After so much fighting, the crypto market can finally access a Bitcoin ETF but… No thanks to the SEC.
As expected, the news of the Bitcoin ETF approved by the Bermuda Stock Exchange (BSX) gave a lot to talk about during the week.
Accordingly, according to the explanatory document, the approved ETF will cover a portfolio of cryptocurrencies and blockchain-based assets. In this way, the Bitcoin ETF should be active and trading on BSX by the end of this year. However, no further details have been provided.
DeFi and Ethereum, a complicated relationship
During this week, as expected, the DeFi sector continued to show its determination to grow and during this week it reached the historical maximum of the total blocked (TVL) of $ 11.97 billion.
One of the latest key catalysts for the sector has been the launch of the UNI token by Uniswap. In fact, Uniswap is currently ranked number one by TVL, according to DeFi Pulse.
And, as we reported this week, according to data from Dune Analytics, Uniswap users have claimed $ 616 million in UNI tokens.
Despite this, Ethereum’s average transaction fee has dropped to levels we haven’t seen since the beginning of August. Specifically, according to data from BitInfoCharts, Ethereum’s average transaction fee was $ 2,248 yesterday.
Christie’s to auction a work of art
On October 7, a work of art inscribed with hundreds of thousands of digits of hexadecimal code will be auctioned in New York, some of which are highlighted in gold. The artwork is part of a set of 40 works that have the original digits of the v0.1.0 historical code that launched Bitcoin hand-engraved.
In addition, said work is associated with a non-fungible token (NFT) that will serve as a guarantee of authenticity and will be a digital representation of the physical painting.
Binance web domain is blacklisted in Russia
During the week Binance reported that the Russian telecommunications regulator Roskomnadzor added the website to the registry of platforms that spread prohibited information.
Therefore, with the inclusion of the Binance domain to this list, the website is blocked for all users who wish to access it from that country.
However, the Russian crypto market will be able to use VPN to access your account without problem.
NVIDIA RTX 3090 was the topic of conversation in the crypto community
This week NVIDIA announced the release of the new and powerful GeForce RTX 3090 version with which Ethereum can be mined. According to experts, the power of this new NVIDIA surpasses all schemes and makes it the best option for mining Ethereum.