With the last month of summer at our doorstep, Crypto Winter has started to thaw – the global crypto market cap went back to $1.09 trillion in over a month. Although it is a slow recovery, the market seems to be going back on track. Bitcoin is stabilizing around $23 thousand for more than two weeks now and Ethereum is on the top of trending coins, followed by Optimism. Increasing interests by governments, most recently by the US Federal Reserve has made investors turn their eyes back on crypto trading. However, the International Monetary Fund has warned that the crypto Bear Market could affect the global traditional economy. It has been clear that it is the other way around.
In the UK, deputy governor Sir Jon Cunliffe stated that regulatory works are on the go, even though, as he puts it, the crypto market is still showing no signs of recovery. He added that there are lessons to be learned from the crypto winter as this industry is here to stay. The British NFT project is also in the works, despite the internal political turmoil with a series of resignations and the Bear Market, as the country aims to become a leader in the crypto sector. As if all that wasn’t enough, the British army’s social media were hacked by crypto scammers this month.
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