Your weekly dose of Crypto, Aug 29 – Sept 4

1. The total market cap is up by over 8% in the last 7 days and stood at $2.38 trillion. Bitcoin dominance is at 39.7% and Ethereum dominance is at 19.4%.
2. ETH has risen by over 20% in the last 7 days amidst NFT resurgence. Now, it’s only 10% down from its ATH. BTC’s one week support and resistance levels stood at $46k and $51k.
3. Among the altcoins, Fantom surged by over 120% in the last 7 days, following the announcement of a new 370 million incentive program for builders link.
4. SOL has claimed 7th position by market cap and has made a new ATH of $149.91. It’s price has tripled since the launch of Degenerate Ape Academy NFT Project. ADA has made a new ATH $3.09 as the network prepares for the Alonzo hard fork.
5. U.S. Department of Treasury wants to incorporate new crypto reporting requirements in an upcoming $3.5 Trillion Reconciliation Bill, according to a report. This would require American exchanges to report information about non-US users, that information could be exchanged with other countries to ensure crypto tax compliance link.
6. The amount of ETH burned has surpassed the amount of ETH minted in 24 hours(between Thursday and Friday) for the first time since EIP-1559, which allowed for transaction fees to be burned link.
7. Uniswap Labs is reportedly under investigation by SEC, which is seeking to obtain information about how investors use the DeFi platform and how it is marketed link.
8. BitConneeeeeeect has been sued by the SEC over its alleged $2 billion scam after three years. SEC is asking the US District Court to order the defendants to return all the money and pay a civil penalty link.
9. Binance NFT Marketplace in partnership with the State Hermitage Museum (St. Petersburg, Russia) has launched an NFT auction involving the digital reproductions of “The Madonna and Child” by Leonardo da Vinci and “Lilac Bush” by Vincent Van Gogh among others link.

PS: Since the post was getting removed by auto mod, I will add the links to the sources in the comments below.

Edit 1: added sources
Edit 2: Daily recaps are not allowed anymore, many people started doing this and it kinda got spammy tbh. Therefore, I’ll be doing weekly doses from now on.