Introduction:
The world of cryptocurrency is constantly evolving, and keeping up with the latest developments can be challenging. Every week brings new stories, and it can be difficult to know which ones to pay attention to. In this article, we will highlight five of the biggest stories from the past week, from the Arbitrum airdrop to the Coinbase perps. We will provide insight into each story and offer our take on what it means for the cryptocurrency industry.
Arbitrum Airdrop
One of the most exciting stories from the past week was the Arbitrum airdrop. The Arbitrum network is a Layer 2 scaling solution for Ethereum, which aims to improve transaction speeds and reduce gas fees. To encourage users to adopt the network, Arbitrum launched an airdrop of their native token, ARB, to Ethereum users who had used certain DeFi protocols.
Solana Outage
Another major story from the past week was the outage of the Solana blockchain network. Solana is a popular blockchain platform that has seen significant growth in recent months, but on Tuesday, September 14, the network experienced a 17-hour outage. The cause of the outage was a flood of transactions, which overwhelmed the network and caused it to grind to a halt.
Coinbase Perps
Coinbase, one of the largest cryptocurrency exchanges in the world, made headlines this week with the launch of perpetual futures contracts. Perpetual futures contracts are a type of derivative that allows traders to speculate on the price of an asset without actually owning it. The launch of perpetual futures contracts on Coinbase has been seen as a significant step for the exchange, as it continues to expand its offerings.
Bitcoin ETFs
The Securities and Exchange Commission (SEC) has once again delayed a decision on whether to approve a Bitcoin exchange-traded fund (ETF). The SEC has been hesitant to approve a Bitcoin ETF, citing concerns over market manipulation and investor protection. However, the delay has frustrated many in the industry, who believe that a Bitcoin ETF would bring more institutional investors into the cryptocurrency market.
NFT Sales
Non-fungible tokens (NFTs) have continued to make headlines in the past week, with several high-profile sales taking place. The most notable of these was the sale of a rare CryptoPunk NFT for $69 million, making it one of the most expensive NFT sales to date. The continued popularity of NFTs has led some to speculate that they could become a major asset class in the future.
Conclusion:
The past week has been filled with significant developments in the world of cryptocurrency. From major airdrops to new product launches, there has been no shortage of exciting news. However, it is important to remember that the cryptocurrency industry is still in its early stages, and there are many challenges that need to be addressed. As the industry continues to evolve, it will be fascinating to see how these developments play out and what they mean for the future of cryptocurrency.
