What happened this September in the cryptocurrency world?

A bunch of cryptocurrency regulations worldwide

Image by jessica45 / Pixabay

A lot of DeFi and Ethereum

  • The Ethereum network has been very popular these days because of the profitable DeFi apps and tokens. This implies a high volume of users, and a high volume of users means higher transaction fees. To start September, the average transaction fee was 14.5 USD (new ATH), and the end of the month saw another peak, with +11 USD [Bitinfocharts].
  • Considering those scalability problems, the developers behind Ethereum have decided to launch in the next weeks the first phase of Ethereum 2.0: the Beacon Chain system. This will divide and distribute the data among the nodes, which won’t need the entire blockchain to work. Therefore, the network will be more efficient [Evan Van Ness].
  • The DeFi food harvest continues at crazy rates. Through the month, the projects BurgerSwap and BakerySwap were launched on Binance Smart Chain (BSC), providing new uses cases for Binance Coin (BNB); which, of course, increased its price.
Image by form / PxHere
  • Meanwhile, Nomi Chef, the Sushi Swap’s founder, sold $8 million worth of SUSHI tokens, leading to a panicked sell-off that sent the price tumbling more than 50%. But the protocol still sucked $1 million from Uniswap and, after some days, Nomi Chef came back with the money and an apology on Twitter.
  • The UNI tokens by Uniswap, one of the largest decentralized exchanges in the industry, were launched this month too. This can be excellent news for Ethereum and yield farmers as well since more liquidity (and rewards) will be attracted to the platform.

Some other interesting facts

  • The U.S Internal Revenue Service (IRS) is highly interested in people not avoiding their taxes, so, they were offering an amazing 625k bounty to anyone who could build a solution to break Monero (XMR) and Lightning Network (LN) privacy. Still, there’s a way to go for that [Department of the Treasury].
  • The crypto-exchange Bittrex closed its operations with few announcements in 14 countries, including Belarus, Egypt, Bosnia, Lebanon, Panama, Ukraine, and Venezuela.
Image by KryptoNatasha / Creative Commons
  • Who will be the first Central Bank (and country) to mint their own digital currency? China? The United States? Somewhere in the EU, maybe? Well, apparently not. The Sand Dollar will be available in The Bahamas starting in October this same year. Its main purpose is to include in the financial system the most distant islands on its archipelago [Bloomberg].
  • From $11.700 to $10.500, Bitcoin (BTC) has lost 10.26% in its price this month. Ethereum (ETH) lost 22.2%, XRP decreased 17.8%, Bitcoin Cash (BCH) -27.5%, Chainlink (LINK) -44.6% and Litecoin (LTC) -30.2%. Bearish month, to sum it up. Which means, maybe October will be bullish.



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