Crypto This Week: G20 Agree to Strengthen Crypto Asset Monitoring; PlayStation Dives into NFT World?

What Happened in the Crypto Industry & NOBI During the Past Week?

Hi NOBI’s! Although the FTX-Alameda saga continues. But over the past week, a lot of positive sentiment has revived optimism from crypto fans. One comes from G20, who welcomed efforts to monitor crypto assets. Then, there is also Polygon (MATIC), which has set a new high record after officially collaborating with Nike. What else? We recap what’s been happening in the crypto industry during the past week!

1. Polygon (MATIC) Sets All-Time Record as Nike Partnership Is Inked

Unexpectedly, amid the crypto sector’s turbulence, Polygon Network succeeded in setting a new all-time high with 190.95 million unique addresses on November 14th. The huge milestone was made possible by the good news that US sports retail giant Nike has officially launched its own NFT marketplace. And what’s more intriguing is that. Swoosh, as the new platform will be known, will run on the Polygon infrastructure.

2. PlayStation Dives into Crypto World Through the NFT Gaming Market

Electronics company Sony, known for its PlayStation consoles, has just published a patent revealing plans to work on the NFT crypto sector and blockchain. The patent is titled “Tracking Unique In-Game Digital Assets Using Tokens on a Distributed Ledger.” In addition, the patent will also cover systems used to track the issuance, use, alteration, and transfer of in-game digital assets or assets created based on gameplay.

3. G20 Agree to Strengthen Crypto Asset Monitoring

President Joko Widodo officially closed Indonesia’s G20 Presidency in Bali on Wednesday (16/11/2022). One of the efforts agreed by the group of the world’s largest economies is to continue efforts to tighten the supervision of crypto assets. Even so, reportedly, no concrete agreement has been produced. So far, new leaders have agreed on a crypto regulatory review process that they hope will go well.

In the Leaders Summit document published recently, it is known that the G20 only used the word ‘welcome’, not yet expressing approval of several reports submitted by the FSB. The FSB proposal related to crypto regulation is carried out with the principle of ‘same activity, same risk, same regulation.’

4. Trading Volume Reaches $300 Million, ADA Ready to Skyrocket to $3?

The recent incident that occurred FTX-Alameda doesn’t seem to have had much of an impact on ADA’s price. The reason is this crypto asset is not listed on the exchange platform. As a result, experts continue to have bright predictions for this Ethereum competitor.

? #Cardano has had a rollercoaster of a ride in 2022, mainly frustrating loyal followers of the #8 market cap asset. Our latest user submitted insight touches on how whale behavior, realized profits/losses, & social volume will factor into $ADA's future. https://t.co/PnEyPj3uLI pic.twitter.com/sKYnIMmaro
— Santiment (@santimentfeed) November 11, 2022

Furthermore, Cardano has seen an increase in the number of wallets in its network. According to statistics from Cardano Blockchain Insights, as of November 7, there were 3,638,425 wallets on the decentralized finance (DeFi) network, and as of November 16, there were 3,690,261. Given the experts’ positive sentiment and bright forecasts, could Cardano’s price be bullish, and could ADA print the $3 mark soon? Let’s wait for it!

5. This Elon Musk Tweet Gives A Fresh Air to the Crypto Market

The performance of the crypto market began to rise on Wednesday morning (16/11/2022). A large number of crypto assets bounced back into the green, and investors started to accumulate again. Some analysts said that the positive sentiment that moved the market this time came from the figure of Elon Musk. Musk wrote in his tweet on Twitter that he believes Bitcoin will survive the crypto winter, even though it will experience a sideways phase for a long time.