Month in Review — August 2021

Welcome to Month in Review, where the team behind STASIS and EURS shares our updates from the past month and some thoughts on key events and issues in the cryptocurrency and stablecoin space.

The Month in Review is distributed each month initially as a newsletter. You can sign up to receive it here.

Another September — another market race

The sweltering heat is over in most regions, but it has returned to markets. August saw the uplift in investors’ mood as the rates of cryptocurrencies now aim to take over the previous all-time highs.

Last month, institutions were buying Bitcoin like it’s bull market again. The hype is getting real as more industry heavyweights join the queue. BTC reserves on derivatives exchanges have dropped to levels last seen before the May price crash. According to the latest filing with the U.S. Securities and Exchange Commission, business intelligence company MicroStrategy acquired $177 million worth of bitcoins in the third fiscal quarter.

Another vital point was a change of heart from the search giant Google that started running Bitcoin and crypto ads — thus, lifting the ban on advertisements for cryptocurrencies imposed over three years since March 2018. This is a vital sign of ongoing adoption.

Bitcoin price reached a three-month high, testing $ 50,000. At the same time, Ethereum has risen in price by 35%, and Cardano and Solana have renewed all-time highs. Amid the outflow of ETH from centralized exchanges, the value of funds in the DeFi protocols on Ethereum reached a record $120 billion.

Moreover, the latest survey shows that one in ten people in the U.S. is investing in crypto assets these days. According to a report conducted by CNBC, 11% of adults in the USA are interested in investing in cryptocurrencies.

UK residents are enjoying a new gateway into digital assets: starting August, they can buy, hold and sell cryptocurrencies through PayPal for the first time, marking a vital milestone for the company, which began offering digital asset services less than one year ago.

According to a new law, German-based institutional funds will allocate up to 20% of their overall portfolios in Bitcoin (BTC) and other cryptocurrencies. Those funds manage around 1,8 trillion Euros and can only be accessed by local institutional investors like insurers or pension firms.

Autumn will unravel a new page in the history of STASIS, a season of change for the better. We will be happy to tell you that September will be full of pleasant surprises and incoming partnerships!

Project news

STASIS x Anyswap

Check the most transparent stablecoin on AnyswapNetwork V3!

EURS is now available on Ethereum, Binance Smart Chain, Polygon, and Fantom chains at http://stable.anyswap.exchange.

Immerse into a convenient cross-chain swap experience in DeFi!

Worth Reading & Watching

In August 2021, insights of STASIS CEO Gregory Klumov were published in global media.

• ValueWalk quoted: Every time the market starts to show signs of relief, many analysts naturally tend to say that the next few months may result in massive cash inflows into the cryptocurrency sector from myriad sources. I wouldn’t be so optimistic. That “to buy the dip” mentality was rather an argument during the late spring. This might be the right time to go back to transparent stablecoins and to wait for how the start of the autumn unfolds.
• Crowdfund Insider also stated that “Since the country is in the world’s top 10 economies, such a milestone will clearly drive the continued adoption of digital assets in Europe and beyond. Summer closes with a rapid but expected surge in the crypto market. While the institutional infrastructure experiences numerous cash injections from large financial investors (for example, Solana and Paxos fundraised for the further development, and Circle is getting ready for IPO), the retail infrastructure continues to connect new markets — thereby establishing simple channels for individuals to allocate funds into the digital asset market.”

What’s Coming Next?

Thanks for reading this letter and staying with us!

August? will mark a new milestone in STASIS project development. We have long been working to establish EURS on alternative blockchains, transforming it into a multichain solution. New announcements are close.

Subscribe to Weekly Stablecoin Digest to stay updated on what’s coming in the crypto world, and read our “Month in Review” to read the 4-week summary of our achievements!

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