Express Crypto News: 60-Second Recap, August 25th 2023

Last week in crypto, data from a Saint Petersburg Exchange and the Russian Trading System emerged showing that more than half of Russian citizens want to store their money in a central bank digital currency. 

WorldCoin, which experienced a 40% spike in it’s launch week, perhaps due to it’s controversial requirement to provide an eye-scan to claim, has lost its initial popularity and dropped nearly 10% in the last few days. 

With Donald Trump’s return to Twitter and posting of his mugshot, NFTs have seen a surge. Trump Digital Trading Card NFT shot up 42% in floor price, and Trump Digital Cards Series 2 soared 3617% in trading volume.

Bitcoin supply in exchanges is nearing 6-year lows, data shows that just 5.8% of the entire Bitcoin supply is currently held by exchanges. Several theories have emerged as to why, one driving element behind it being investors’ preference for long term holding strategies and a consistent input from affluent individuals and institutions, with an average of 57,000+ $100,000 transactions each week.

Forbes has reported that Oman has invested $1.1 billion in Bitcoin mining infrastructure. Citing excitement to be part of the growing cryptocurrency market, and a desire to be known for the central hub of mining cryptocurrency worldwide. Global response has been positive, predicting this move to help Oman’s economy by providing new jobs, and raising their presence as a modern country open to new ideas and technologies.

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