This week was merge week. Ethereum carried out the long-awaited upgrade to Proof-of-Stake without a hitch. However, there was no unexpected influx of funds either. On Thursday, the day of the merge, the price of Ethereum plunged 8% to below $1,500.
Ethereum’s hash rate was consistent despite negative predictions a day before the merge.
The following Thursday, Buterin confirmed the news that the network’s transition to proof-of-stake (PoS) was complete.
Read our insights on the merge here.
Fidelity Set To Offer Bitcoin Trading To Its Users
In 2018, Fidelity, one of the world’s largest asset managers, launched the Bitcoin fund, which allowed institutional investors and hedge funds to trade bitcoin. Within a few months, the bitcoin index fund received $125 million in investments. According to reports, the financial behemoth is considering letting over 34 million private investors purchase bitcoin through its online brokerage.
Read our detailed coverage here.
Customers may also invest in commission-free ETFs, like the Fidelity Crypto Industry, Digital Payments ETF, and the Fidelity Metaverse ETF. Fidelity is notable for being the first brokerage firm to offer an immersive educational experience in the metaverse. The Fidelity Stack, their virtual workplace in Decentraland, is a fun, gamified environment where users can enhance their financial skills.
22nd World Blockchain Summit to be held in Dubai
The World Blockchain Summit will be held on October 17-18, 2022, in Atlantis, located on The Palm in Dubai, UAE. It is considered one of the world’s most elite crypto and blockchain ecosystem conferences.
This highly anticipated event attracts the world’s leading crypto influencers, legislators, big government delegations, journalists, family offices, HNIs, and other chosen investors.
Global technology companies will present their most recent breakthroughs to allow businesses and organizations to embrace blockchain and crypto solutions. This conference is consistent with Dubai’s objective of becoming a worldwide Web3 center, a leader, and a provider of digital asset regulatory frameworks. The meeting will also include presentations from Dubai government authorities.
So, that’s all for this week. Stay tuned for updates!
