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This Week In Crypto – 8/1/22

Posted on August 1st, 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.

Crypto ATM Market Value to Hit $472 Million by 2027, According to New Report

A new report from Research and Markets estimates the Global Crypto ATM market value to hit $472 million by the year 2027, based on current interest and a compound annual growth rate of 59%. The United States currently has the majority of the global market share at around 88%, and the North American region has about 95% of all crypto ATMs. While the crypto market continues to fluctuate, it seems that crypto ATMs are an increasingly popular method to bring cryptocurrency to the masses, and will only continue to grow in the coming months. If you’d like to find a RockItCoin crypto ATM near you, visit https://rockitcoin.com/locations.

Cryptojacking Cyberattacks Have Risen 269% in the First Half of 2022

Cybersecurity firm SonicWall published their mid-year Cyber Threat Report for 2022, and it includes some interesting insights into the world of crypto cyber attacks. In the report, they noted that despite the large drop in cryptocurrency prices, the number of global cryptojacking events was up over 30% compared to the first half of 2021. However, there is some good news, as they later say, “by April, cryptojacking was already down by half from its peak, and in May it was even lower, resulting in a second quarter attack volume of just 21.6 million, less than half the amount seen in the preceding three months”. There seems to be an overall decline in cryptojacking events, but there’s much to learn from these statistics: keep your crypto safe!

Ethereum Founder Vitalik Buterin Says Facebook’s Metaverse Will “Misfire”

Vitalik Buterin, founder of Ethereum, said on Twitter Saturday that Facebook’s attempt at building the metaverse will “misfire” because “it’s far too early to know what people actually want”. The idea of the Metaverse is still in its infancy, and there is not yet a solid definition of what it is. While there are some successful attempts at Metaverse projects like Decentraland and The Sandbox, the use case of the Metaverse “is still not clear”, according to Buterin. Only time will tell if the metaverse is truly the next frontier for human interaction.