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This Week in Crypto – 9/6/22

Posted on September 6th, 2022 by RockItCoin

In RockItCoin’s effort to empower individuals in the cryptocurrency space, we have extracted top industry stories for your Weekly Digest. Cryptocurrency continues to dominate the news and here are some key happenings you should know.

Data Shows 62% of Bitcoin Wallets Have Not Sold for at Least a Year
Data from trading analysis platform TipRanks indicates that 62% of Bitcoin wallets have not sold in at least one year, and 32% have held for at least a month to a year. While the bear market continues into September, it is encouraging to see coin holders grin and bear it through tough times. It’s also important to note that almost 48% of Bitcoin owners are still in profit at the moment! With Bitcoin’s price constantly testing bottoms, it’s interesting to see how many people are still in profit.

Recent Study Finds California Is the US State Most Interested in Bitcoin and Ethereum
A recent report from CoinGecko analyzed web traffic and found that California was the state most interested in Bitcoin and Ethereum. Following behind the golden state was Illinois, New York, and Florida, along with many others. CEO and co-founder of CoinGecko Bobby Ong says it was “unsurprising” that California took the top spot since it is a technological hub.

OpenSea Announces It Will Only Support PoS NFTs Post-Merge
OpenSea, the world’s largest NFT marketplace, announced that it will exclusively support NFTs that run on Ethereum’s proof-of-stake blockchain once the Merge is complete. That being said, OpenSea will also cease support for NFTs on the proof-of-work Ethereum blockchain. In a tweet last week, OpenSea said that “While we don’t anticipate major issues, we also acknowledge this is a first! So we’re committed to monitoring, managing, and communicating throughout”. Hopefully everything goes well!

Learn more about the Merge in our blog: The Ethereum Merge, and What it Means for Crypto