Our weekly news roundup is here! Where we discuss the latest happenings in the crypto and blockchain space. This week's rundown suggests retail and institutional investors have turned to digital assets throughout the recent global pandemic. Young people's acceptance and enthusiasm for cryptocurrencies shows sure signs of mass adoption. Record high wallet-app-downloads have been reported. And lastly, An immoral pivot took by Crypto.com has left ICO stakeholders demanding retribution. Let’s jump into a closer look into this week in crypto!
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The Future of Finance
Knowledge around cryptocurrency in the younger generations (Generation Z and millennials, who make up 60% of the population), highlights the ongoing adoption of cryptocurrencies. According to recent studies, 60% of people aged 18-30 were familiar with cryptocurrencies such as Bitcoin and 20% of millennials in the UK have invested in digital assets. Read more.
Crypto's Going Mainstream
The largest number of crypto-wallet-app downloads has been reported, with a staggering 3.5 million-plus wallets obtained in July 2020. With an overall increase of 81% active users, this time last year shows major prospects for the acquisition of cryptocurrencies. “Cryptocurrency is becoming increasingly mainstream in emerging markets." Read more.
In Bitcoin We Trust
It's predicted, due to the economic fallout caused by the recent global pandemic COVID-19 has been the catalyst to the significant uptrend in digital assets. With millions out of work, a mammoth of insolvencies and government debts surpassing £2tn in the UK alone, it's no wonder people are turning to decentralized financial options such as Bitcoin. Could the sudden wave of fresh interest in Bitcoin from both Institutional and Retail investors lead to a major bull run? Read more.
Out of sight, Out of Mind
Hong Kong-based exchange, Crypo.com under fire as costumers and CDC Customer Alliance GbR (a customer rights organisation), unite after their recent ICO token cancellation. Out of the blue, Crypto.com informed ICO token investors, that MCO will expire towards the end of this year. "Under these conditions, MCO token holders may swap their MCOs at the swap rate of 27.6439 CRO per MCO token. This rate has been unilaterally defined by Crypto.com and could not be more unfavourable." Read more.
What did you think of this week's developments? Which story sparked your interest the most? See you next time for our weekly low down on crypto and blockchain growth. We look forward to discussing the week ahead.