What happened this November in the cryptocurrency world? (2021)

The community baptized the past month with the name of “Moonvenber”. Let’s take a look at the most important events in terms of market, regulation, security, and some curiosities in the world of Bitcoin and cryptocurrencies.

On the markets

  • The first days of last month were characterized by record highs in several cryptocurrencies. On November 10, Bitcoin (BTC) reached its latest ATH. The cryptocurrency surpassed $68,000 (CoinMarketCap). However, the rest of the month underwent correction and its lowest price was $53,500 on Nov. 28.
  • Although the following weeks the market turned red, the Bitcoin price closed at $57,000 at the end of the month. This drop and recovery are likely due to the emergence of a new COVID-19 variant originated in South Africa, called Omicron.
  • Doctors who initially reported the appearance of the new variant also indicated that its symptoms are much milder than expected. This caused the cryptocurrency market to recover 180 billion in market capitalization.
  • Among those who took advantage of the cryptocurrency’s falling price was El Salvador, a nation that currently has 1,000 BTC in its possession.
  • The Omicron (OMIC) token — belonging to a DeFi platform — increased in value by 1000% just because its name matches that of the new COVID-19 variant.

Regulations on cryptos

  • India seeks to categorize the frequent use of cryptocurrencies as a means of payment, with some exceptions, in its new bill. In 2016, the government position was betting on a total ban on all related activities, such as mining, holding, buying, and selling. That’s changed now.
  • The U.S. Securities and Exchange Commission (SEC), began investigating the largest Bitcoin mining company in the country. On November 15, Marathon Digital Holdings reported that it received a subpoena from the regulator, while it issued $500 million in debt notes and its shares fell 25%. This fall also dragged down other major companies in the cryptocurrency mining sector.
  • The European Union (EU) moved towards discussion with the European Parliament for the approval of the MiCA and DORA bills. The MiCA (Regulation on cryptoasset markets) and DORA (Digital Operational Resilience Act) seek to regulate bitcoin exchanges, as well as ICOs and set guidelines on who can issue cryptocurrencies.
  • In Latin America, prosecutors in Colombia and Honduras announced that they will work together to curb the advance of drug trafficking using cryptocurrency technology. According to authorities, the main countries affected by these crimes are Panama, Mexico, and the United States, in addition to Honduras and Colombia.

Hacks and scams

  • One of the main means used by hackers this month to steal cryptocurrencies was the technology company Google. Earlier this month, a computer security firm reported that nearly $500,000 was stolen through Google Ads.

Hackers chose about 11 cryptocurrency wallets to create fake ads and steal users’ information. At the end of the month, Google’s cybersecurity team also indicated that some cloud services have been compromised for cryptocurrency mining, ransomware, and identity theft.

  • On November 3, the RobinHood trading platform suffered a major security breach and its users’ data ended up in the hands of criminals. Later, cyber attackers put the personal information of 7 million users on the darknet up for sale. This number of affected users was much higher than the number declared by the platform.
  • The DeFi platform MonoxFinance was also affected by a security breach in its smart contracts. This resulted in the loss of $31 million in Ethereum and Polygon.
  • The creator of the HodLife token, who used the WiFi network of the Costa del Sol luxury hotels in Malaga to steal €500,000 from thousands of users, was arrested.

Other News

  • According to the Central Bank of Russia, about 5 billion dollars (350 billion Russian rubles) are traded in the country annually. Russian cryptocurrency investors are among the most active in the market and their number continues to grow.
  • With the imminent release of the long-awaited movie Spiderman: No Way Home, AMC Theaters, one of the most important movie chains in the United States and Europe, decided to give away one NFT with each ticket. The chain decided to give away 86,000 NFTs for official club members who buy a ticket for the premiere. However, this campaign could be affected by the massive collapse of the cinemas’ websites, due to the high demand for the film.
  • Disney launched its own NFT collection at $60 each.
  • FC Barcelona is the club with the most NFTs sold in Chiliz, with 600,000 pieces distributed in two hours. Argentina’s national soccer team also took an interest in technology and launched its NFT collection on the Ethernity Chain.
  • Serj Tankian of System of a Down, and Roger Kupelian, part of the creators of the Lord of the Rings visual effects, have also joined the wave and will offer 21 visual and sound NFTs in December.
  • The SandBox started its first P2E event for gamers to explore the Boxel universe for the first time. This is a platform for creating games with NFTs.

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Originally published at https://blog.alfa.cash on December 1, 2021.

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