#36

Welcome to the Coinlabzz Weekly . In this edition we’re highlighting top stories around the world you might have missed over the week. Let’s jump in!

FTX Crypto Exchange grew a whooping 1,000% in 2021

FTX remains one of the strongest exchanges to date, with astronomical numbers to prove their growth and merit. Revenue jumped from $90m in 2020 to $1.2b in 2021. Oh, baloney. I don’t believe that!  Not only that, but during last year CEO Sam Bankman-Fried,  , who has been overseeing FTX expansion has  also acquired  around 15 smaller companies to expand FTX global footprint.

Golden furred Bored Ape #5383 sold for a whopping 777 ETH last week.

As crypto winter rages on and most other NFTs struggle to survive. BAYC NFT sells for 777 Eth, worth US$1.4 million.

Here is this same golden Ape for FREE.

It has been the 2nd lowest crypto weekly trading volume all year. 

 Either investors are just waiting it out on the side-lines or they’re out sipping margaritas on the beach to close out the summer.

Big brands are exploring the NFT marketplace. 

Dune Dashboard reveals that NIKE is taking the lead in NFT. Numbers don’t lie! (or they lie less)

Macro Economics

• Oh lordy, lordy, Russia has completely shut off its Nord Stream 1 pipeline supplying gas for three days. Translation: Not great news for Europe facing an energy crisis.

• On top of that, Europe is facing its worst drought in at least 500 years. Drought is also declared in China. Apart from the obvious impact on boats (less weight can be loaded due to shallow rivers making logistics more expensive), dry rivers are also hitting the energy sector, which, wait a minute, yes you are right  – is already in crisis. Hydroelectric power has dropped by a significant 20% .

• And, for heaven’s sake Inflation around the world keeps rising ,  UK’s inflation projected to breach 18% in January (dear my, I better buy more BTC), Turkish Inflation now near a whopping 80%, and Argentina’s annual inflation rate hovering around 70%) . Not the numbers you want to see!

• To wrap it up. China the world’s largest producer of goods, from smartphones to steel, autos to aircraft carriers showing signs that is heading for a recession.

That’s all for today folks. If you liked it, please like the post, share or even subscribe to get 1 crypto market update per week. This would mean a lot for our little start up blog Coinlabzz.com