The Weekly Wrap – Kintsugi, M&A, NFTs

Dec 24, 2021 - 2 min read

1. Ethereum launches Kintsugi Testnet

The Facts:

  • In anticipation of the merger of chains, Ethereum developers have released a “longer-lived public testnet”.
  • While ETH2 isn’t ready quite yet, the testnet serves as sneak peek into how the network may soon function.

Why it’s important:

  • One year after the launch of the beacon chain, the community is looking forward to faster and cheaper transactions, as promised by the developers.
  • More than ETH 8.8 million have been deposited into the ETH2 contract, representing approximately 7% of the current circulating supply. That number is expected to grow substantially until the merger of chain. Although, it remains to be seen when the actual merger will take place.
2. Crypto M&A activity 2021

The Facts:

  • With the end of 2021 nearing, The Block Research reports a surge in M&A transactions of nearly 130%.
  • The approximate $6.1 billion in M&A volume was driven by more than 197 transactions.
  • Not only have crypto native companies acquired market players to further expand their offering, but also traditional companies have made selective acquisitions to position themselves in the growing market.

Why it’s important:

  • The growth experienced not only by crypto currencies, but by centralized companies supporting the ecosystem, has opened doors for new features and releases.
  • There is high demand from investors to allocate funds in what is one of the most promising industries. Let’s see if this trend continues in 2022.

You don’t own “web3”.

criticizing the centralized nature of web3

3. The year of NFTs?

The Facts:

  • Nonfungible tokens took over the mainstream in 2021.
  • We’ve seen everything from CryptoPunks to Beeple, from Celebrities to athletes and even auction houses like Christie’s and Sotheby’s actively promoting the sale of NFTs.
  • The market is approaching the $17 billion mark with OpenSea being the marketplace responsible for the most transactions processed.

Why it’s important:

  • Endorsements have boosted the awareness not only for NFTs but for the entire crypto market, with the Metaverse adding a new dimension for digital assets.
  • Like every trend, there are different phases. NFTs reached their trading volume high in August. Nevertheless, there has been a steady release of new projects, continuously adding on to the growing market.

Number of the week

1 year total crypto market cap growth

In other news

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