{"id":50552,"date":"2021-10-02T12:10:41","date_gmt":"2021-10-02T09:10:41","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=50552"},"modified":"2025-09-02T18:46:10","modified_gmt":"2025-09-02T15:46:10","slug":"september-2021-in-figures-arbitrum-rally-dydx-hype-and-lightning-network-revival-after-el-salvadors-bitcoin-legalization","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/september-2021-in-figures-arbitrum-rally-dydx-hype-and-lightning-network-revival-after-el-salvadors-bitcoin-legalization\/","title":{"rendered":"September 2021 in figures: Arbitrum rally, dYdX hype, and Lightning Network revival after El Salvador\u2019s bitcoin legalization"},"content":{"rendered":"<div class=\"wp-block-monthly-reviews-top-blk review_top_blk\">\n<h2 class=\"wp-block-heading\"><strong>Key<\/strong><\/h2>\n<ul class=\"wp-block-list\">\n<li>Bitcoin failed to hold above $50,000, with the price correcting toward a strong support at $40,000.<\/li>\n<li>Since the London hard fork was activated on the Ethereum network, more than 400,000 ETH have been burned.<\/li>\n<li>Outflows of Ethereum from centralized platforms in favour of decentralized applications continue.<\/li>\n<li>The Lightning Network is gaining popularity amid Twitter\u2019s donations integration and payments in El Salvador.<\/li>\n<li>Ethereum miners posted record revenues, with their share of fees exceeding 40%.<\/li>\n<li>In the DeFi space, Ethereum Layer-2 solutions such as Arbitrum are gaining traction.<\/li>\n<li>GameFi tokens corrected, while NFT projects focused on infrastructure development with funding.<\/li>\n<li>The decentralised derivatives platform dYdX surpassed centralized exchanges in trading volume.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\"><strong>Leading assets dynamics<\/strong><\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1834\" height=\"878\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/BTC-55.png\" alt=\"September 2021 in figures: Arbitrum rally, dYdX hype and Lightning Network revival thanks to El Salvador\" class=\"wp-image-151588\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/BTC-55.png 1834w, https:\/\/u1f987.com\/wp-content\/uploads\/BTC-55-300x144.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/BTC-55-1024x490.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/BTC-55-768x368.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/BTC-55-1536x735.png 1536w\" sizes=\"auto, (max-width: 1834px) 100vw, 1834px\" \/><figcaption>Daily BTC\/USD chart on Bitstamp. Data: <a href=\"https:\/\/www.tradingview.com\/chart\/?symbol=BTCUSD\">TradingView<\/a>.<\/figcaption><\/figure>\n<ul class=\"wp-block-list\">\n<li>In September, bitcoin prices moved in a downtrend. Starting the month around $47,000, the price briefly hit a local high near $53,000, then retraced to below $40,000.<\/li>\n<li>The psychological level of $40,000, once a resistance, became support.<\/li>\n<li>For the month, the price fell by 7%.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"525\" height=\"443\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/BTC-kvartalnyj.png\" alt=\"Quarterly bitcoin graph\" class=\"wp-image-151589\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/BTC-kvartalnyj.png 525w, https:\/\/u1f987.com\/wp-content\/uploads\/BTC-kvartalnyj-300x253.png 300w\" sizes=\"auto, (max-width: 525px) 100vw, 525px\" \/><figcaption>Bitcoin quarterly dynamics. Data: <a href=\"https:\/\/www.bybt.com\/today\">Bybt<\/a>.<\/figcaption><\/figure>\n<p>Despite a negative September, in the third quarter Bitcoin rose by 25%. The year-end for the asset historically holds potential for upbeat momentum.<\/p>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1834\" height=\"878\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/ETH-45.png\" alt=\"September 2021 in figures: Arbitrum rally, dYdX hype and Lightning Network revival thanks to El Salvador\" class=\"wp-image-151590\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/ETH-45.png 1834w, https:\/\/u1f987.com\/wp-content\/uploads\/ETH-45-300x144.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/ETH-45-1024x490.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/ETH-45-768x368.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/ETH-45-1536x735.png 1536w\" sizes=\"auto, (max-width: 1834px) 100vw, 1834px\" \/><figcaption>Daily ETH\/USD chart on Bitstamp. Data: <a href=\"https:\/\/www.tradingview.com\/chart\/?symbol=BITSTAMP%3AETHUSD\">TradingView<\/a>.<\/figcaption><\/figure>\n<ul class=\"wp-block-list\">\n<li>Ethereum in September closely tracked Bitcoin.<\/li>\n<li>Starting the month at $3,430, the price briefly set a local high above $4,000, then corrected to around $2,650.<\/li>\n<li>For the month, Ether fell 12.5%. The quarter for Ethereum ended with a 36% gain.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"500\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/gainers-16-1024x500.png\" alt=\"Gainers &#038; Losers of the month\" class=\"wp-image-151673\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/gainers-16-1024x500.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/gainers-16-300x146.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/gainers-16-768x375.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/gainers-16-1536x750.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/gainers-16.png 1586w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Gainers &#038; Losers of the month. Data: <a href=\"https:\/\/messari.io\/screener\/monthly-gainers-(copy)-E99DF2E8\">Messari<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"503\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/losers-15-1024x503.png\" alt=\"Losers of the month by market cap\" class=\"wp-image-151674\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/losers-15-1024x503.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/losers-15-300x147.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/losers-15-768x377.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/losers-15-1536x754.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/losers-15.png 1586w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>In September, the best momentum was demonstrated by tokens from decentralised exchanges, smart-contract platforms and scaling solutions.<\/li>\n<li>Among mid-cap projects, the IDEX token stood out, alongside Gala, a project recently listed on Binance. Avalanche hit a new high and approached the top 10.<\/li>\n<li>Among mid-cap losers were Huobi\u2019s native HT token and the Smooth Love Potion (SLP) token from the Axie Infinity blockchain game.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<h3>Related crypto-currency listed equities<\/h3>\n<div class=\"wp-block-monthly-reviews-thirds-wrapper reviews_has_thirds\">\n<div class=\"wp-block-monthly-reviews-third review_third\">\n<p style=\"font-size:24px\"><strong>MicroStrategy (MSTR): <span style=\"color: #FA0021\">-17.3%<\/span><\/strong><\/p>\n<\/div>\n<div class=\"wp-block-monthly-reviews-third review_third\">\n<p style=\"font-size:24px\"><strong>Coinbase (COIN): <span style=\"color: #FA0021\">-12.6%<\/span><\/strong><\/p>\n<\/div>\n<div class=\"wp-block-monthly-reviews-third review_third\">\n<p style=\"font-size:24px\"><strong>Galaxy Digital (GLXY): <span style=\"color: #FA0021\">-2.6%<\/span><\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk has_stocks\">\n<h3>Performance of mining-related stocks<\/h3>\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<p style=\"font-size:24px\"><strong>Canaan (CAN): <span style=\"color: #FA0021\">-35.5%<\/span><\/strong><\/p>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<p style=\"font-size:24px\"><strong>Ebang International (EBON): <span style=\"color: #FA0021\">-24.9%<\/span><\/strong><\/p>\n<\/div>\n<\/div>\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<p style=\"font-size:24px\"><strong>Riot Blockchain (RIOT): <span style=\"color: #FA0021\">-31.3%<\/span><\/strong><\/p>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<p style=\"font-size:24px\"><strong>Hut 8 (HUT): <span style=\"color: #33B905\">+4.8%<\/span><\/strong><\/p>\n<\/div>\n<\/div>\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<p style=\"font-size:24px\"><strong>Marathon Digital (MARA): <span style=\"color: #FA0021\">-23%<\/span><\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<p>Stocks tied to crypto and mining posted negative momentum in September due to a close correlation with Bitcoin. Hut 8 was the exception.<\/p>\n<\/div>\n<h2 class=\"wp-block-heading\"><strong>Macroeconomic backdrop<\/strong><\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"463\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Fed-Funds-Target-Rate.png\" alt=\"September 2021 in figures: Arbitrum rally, dYdX hype and Lightning Network revival thanks to El Salvador\" class=\"wp-image-151600\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Fed-Funds-Target-Rate.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Fed-Funds-Target-Rate-300x136.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Fed-Funds-Target-Rate-768x347.png 768w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Data: <a href=\"https:\/\/www.zerohedge.com\/markets\/fomc-signals-taper-mmay-soon-be-warranted-dot-plot-shows-rate-hike-2022\">Zerohedge<\/a>.<\/figcaption><\/figure>\n<ul class=\"wp-block-list\">\n<li>Following the September 22 FOMC meeting, members presented new projections for key macroeconomic parameters.\u00a0<\/li>\n<li>The median projection for the federal funds rate at the end of 2023 stood at 1%, with 2024 expected at just 1.8%;<\/li>\n<li>Votes for and against the first rate hike in 2022 were evenly split.\u00a0<\/li>\n<li>Previous June projections had anticipated the first increase in the key rate in 2023.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"817\" height=\"476\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Target-Rate-Probabilities.png\" alt=\"September 2021 in figures: Arbitrum rally, dYdX hype and Lightning Network revival thanks to El Salvador\" class=\"wp-image-151601\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Target-Rate-Probabilities.png 817w, https:\/\/u1f987.com\/wp-content\/uploads\/Target-Rate-Probabilities-300x175.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Target-Rate-Probabilities-768x447.png 768w\" sizes=\"auto, (max-width: 817px) 100vw, 817px\" \/><figcaption>Data: CME FedWatch Tool.<\/figcaption><\/figure>\n<ul class=\"wp-block-list\">\n<li>Futures market priced in more than 75% probability of a first rate hike by the Fed in December 2022. Investors assign a one-in-three chance that the Fed will hike twice by then.<\/li>\n<li>Before the meeting, the probability of the first hike was around 55%.<\/li>\n<li>Surges in energy prices due to supply issues boosted inflation expectations and <a href=\"https:\/\/u1f987.com\/en\/news\/rising-u-s-treasury-yields-put-pressure-on-stocks-and-bitcoin\">led to a jump in long-term US government bond yields<\/a>.\u00a0<\/li>\n<li>Fed Chair Jerome Powell <a href=\"https:\/\/www.cnbc.com\/2021\/09\/27\/fed-officials-say-they-see-a-pullback-in-stimulus-even-with-inflation-cooling.html\">said<\/a> that conditions are in place to begin tapering emergency stimulus. The market consensus foresees ending QE at $120bn per month between November 2021 and June 2022.<\/li>\n<li>The start of the Fed\u2019s return to normal monetary conditions could stress financial markets. Under pressure, cryptoassets could come under pressure if they move in line with risk assets, as seen in March 2020.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\"><strong>Market mood, correlations and volatility<\/strong><\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"471\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/indeks-straha-i-zhadnosti-1-1024x471.png\" alt=\"Fear and Greed index dynamics\" class=\"wp-image-151605\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/indeks-straha-i-zhadnosti-1-1024x471.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/indeks-straha-i-zhadnosti-1-300x138.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/indeks-straha-i-zhadnosti-1-768x353.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/indeks-straha-i-zhadnosti-1.png 1091w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Fear &#038; Greed index. Data: <a href=\"https:\/\/alternative.me\/crypto\/fear-and-greed-index\/\">alternative.me<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"380\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/90-dnevnye-pokazateli-korrelyatsii-aktivov-1-1024x380.png\" alt=\"90-day asset correlation metrics\" class=\"wp-image-151606\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/90-dnevnye-pokazateli-korrelyatsii-aktivov-1-1024x380.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/90-dnevnye-pokazateli-korrelyatsii-aktivov-1-300x111.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/90-dnevnye-pokazateli-korrelyatsii-aktivov-1-768x285.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/90-dnevnye-pokazateli-korrelyatsii-aktivov-1.png 1206w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>90-day asset correlation metrics. Data: <a href=\"https:\/\/www.blockchaincenter.net\/cryptocurrency-correlation-study\/?timeframe=90days&#038;asset1=SP500&#038;asset2=BTC#correlationtable\">BlockchainCenter<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>Unlike August, September saw bearish sentiment dominate \u2014 as evidenced by the fear-and-greed index. It started the month at 30, rebounded briefly, but soon slid back into the \u201cfear\u201d zone, signalling rising investor pessimism. By September 30 it stood at 20. The September average was 45.3 (August 68.4); the low was 20, with the most frequent reading at 27.<\/li>\n<li>The price movement of Bitcoin and gold remained diverging, but the negative statistical correlation between the two assets eased for the second consecutive month (-0.1 vs -0.21 in August).<\/li>\n<li>In September Bitcoin correlated with the S&#038;P 500 and Dow Jones at 0.17, on par with each other.<\/li>\n<li>This linkage to traditional indices suggests Bitcoin\u2019s sensitivity to the state of the equity market.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"525\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Koeffitsient-volatilnosti-bitkoina-1024x525.png\" alt=\"Bitcoin historical volatility coefficient dynamics\" class=\"wp-image-151607\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Koeffitsient-volatilnosti-bitkoina-1024x525.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Koeffitsient-volatilnosti-bitkoina-1024x525.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Koeffitsient-volatilnosti-bitkoina-300x154.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Koeffitsient-volatilnosti-bitkoina-768x393.png 768w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Bitcoin price volatility coefficient dynamics. Data: <a href=\"https:\/\/satochi.co\/\">satochi.co<\/a>.<\/figcaption><\/figure>\n<p>In September, Bitcoin\u2019s historical volatility coefficient ranged from 3.26% to 3.96% as the month ended with a rising trend. Price volatility was notably lower than during prior bull runs.<\/p>\n<\/div>\n<h2 class=\"wp-block-heading\"><strong>On-chain data<\/strong><\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"942\" height=\"615\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/TSena-bitkoina-i-chislo-adresov-s-1000-BTC.-Dannye-Glassnode.-5.png\" alt=\"September 2021 in figures: Arbitrum rally, dYdX hype and Lightning Network revival thanks to El Salvador\" class=\"wp-image-151609\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/TSena-bitkoina-i-chislo-adresov-s-1000-BTC.-Dannye-Glassnode.-5.png 942w, https:\/\/u1f987.com\/wp-content\/uploads\/TSena-bitkoina-i-chislo-adresov-s-1000-BTC.-Dannye-Glassnode.-5-300x196.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/TSena-bitkoina-i-chislo-adresov-s-1000-BTC.-Dannye-Glassnode.-5-768x501.png 768w\" sizes=\"auto, (max-width: 942px) 100vw, 942px\" \/><figcaption>Bitcoin price and addresses with \u22651000 BTC. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=BTC&#038;category=Addresses&#038;m=addresses.Min1KCount&#038;s=1617341977&#038;u=1633066777&#038;zoom=182\">Glassnode<\/a>.<\/figcaption><\/figure>\n<ul class=\"wp-block-list\">\n<li>The number of addresses containing more than 1000 BTC continues to decline after peaking on February 6 at 2,486.<\/li>\n<li>After a local low on September 13 at 2,116, the metric began to recover. Large players may have used the China-news-driven correction to move BTC to hodlers.<\/li>\n<li>The current value of 2,171 is 12.6% below the February peak.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1017\" height=\"608\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/TSena-bitkoina-i-dinamika-balansov-tsentralizovannyh-birzh-tysyach-BTC.-Dannye-Glassnode-Yahoo-Finance.-3.png\" alt=\"Bitcoin price and balance dynamics on centralized exchanges\" class=\"wp-image-151611\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/TSena-bitkoina-i-dinamika-balansov-tsentralizovannyh-birzh-tysyach-BTC.-Dannye-Glassnode-Yahoo-Finance.-3.png 1017w, https:\/\/u1f987.com\/wp-content\/uploads\/TSena-bitkoina-i-dinamika-balansov-tsentralizovannyh-birzh-tysyach-BTC.-Dannye-Glassnode-Yahoo-Finance.-3-300x179.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/TSena-bitkoina-i-dinamika-balansov-tsentralizovannyh-birzh-tysyach-BTC.-Dannye-Glassnode-Yahoo-Finance.-3-768x459.png 768w\" sizes=\"auto, (max-width: 1017px) 100vw, 1017px\" \/><figcaption>Bitcoin price and centralised exchanges balances, thousands of BTC. Data: Glassnode, Yahoo Finance.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"590\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Total-Supply-Held-by-Short-Term-1024x590.jpg\" alt=\"Total Supply Held by Short-Term\" class=\"wp-image-151612\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Total-Supply-Held-by-Short-Term-1024x590.jpg 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Total-Supply-Held-by-Short-Term-300x173.jpg 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Total-Supply-Held-by-Short-Term-768x442.jpg 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Total-Supply-Held-by-Short-Term-1536x885.jpg 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Total-Supply-Held-by-Short-Term-2048x1179.jpg 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Dynamic of Bitcoin supply held by short-term holders. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=BTC&#038;category=Distribution&#038;m=supply.SthSum\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>Bitcoin supply on centralized exchanges fell to levels seen in August 2018.<\/li>\n<li>Outflows from custodial platforms accelerated over recent months \u2014 since July 26, the figure fell by 174,000 BTC (-6.6%).<\/li>\n<li>According to co\u2011founder of Glassnode Rafael Schultze-Kraff, after Bitcoin price peaked near $65,000, almost 2 million BTC moved from short-term holders to hodlers.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1017\" height=\"608\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/TSena-bitkoina-i-dinamika-balansov-tsentralizovannyh-birzh-tysyach-BTC.-Dannye-Glassnode-Yahoo-Finance.-3.png\" alt=\"Bitcoin price and centralised exchange balances\" class=\"wp-image-151611\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/TSena-bitkoina-i-dinamika-balansov-tsentralizovannyh-birzh-tysyach-BTC.-Dannye-Glassnode-Yahoo-Finance.-3.png 1017w, https:\/\/u1f987.com\/wp-content\/uploads\/TSena-bitkoina-i-dinamika-balansov-tsentralizovannyh-birzh-tysyach-BTC.-Dannye-Glassnode-Yahoo-Finance.-3-300x179.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/TSena-bitkoina-i-dinamika-balansov-tsentralizovannyh-birzh-tysyach-BTC.-Dannye-Glassnode-Yahoo-Finance.-3-768x459.png 768w\" sizes=\"auto, (max-width: 1017px) 100vw, 1017px\" \/><figcaption>Bitcoin price and centralised exchanges balances, thousands of BTC. Data: Glassnode, Yahoo Finance.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"590\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Total-Supply-Held-by-Short-Term-1024x590.jpg\" alt=\"Total Supply Held by Short-Term\" class=\"wp-image-151612\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Total-Supply-Held-by-Short-Term-1024x590.jpg 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Total-Supply-Held-by-Short-Term-300x173.jpg 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Total-Supply-Held-by-Short-Term-768x442.jpg 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Total-Supply-Held-by-Short-Term-1536x885.jpg 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Total-Supply-Held-by-Short-Term-2048x1179.jpg 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Dynamic of Bitcoin supply held by short-term holders. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=BTC&#038;category=Distribution&#038;m=supply.SthSum\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>TVL in DeFi rose slightly versus the prior month; viewing a 30-day window, it fell about 3%.<\/li>\n<li>Curve Finance led TVL at $14.14 billion, ahead of lending protocol Aave at $13.55 billion.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"928\" height=\"508\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-stoimosti-sredstv-zablokirovannyh-v-DeFi-sektore-2.png\" alt=\"DeFi TVL dynamics\" class=\"wp-image-151632\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-stoimosti-sredstv-zablokirovannyh-v-DeFi-sektore-2.png 928w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-stoimosti-sredstv-zablokirovannyh-v-DeFi-sektore-2-300x164.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-stoimosti-sredstv-zablokirovannyh-v-DeFi-sektore-2-768x420.png 768w\" sizes=\"auto, (max-width: 928px) 100vw, 928px\" \/><figcaption>Value of assets locked in DeFi. Data: <a href=\"https:\/\/defillama.com\/chains\">DeFi Llama<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"871\" height=\"558\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Top-5-DeFi-proektov-na-baze-Ethereum-po-stoimosti-zablokirovannyh-sredstv.png\" alt=\"Top 5 DeFi projects by locked value on Ethereum\" class=\"wp-image-151633\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Top-5-DeFi-proektov-na-baze-Ethereum-po-stoimosti-zablokirovannyh-sredstv.png 871w, https:\/\/u1f987.com\/wp-content\/uploads\/Top-5-DeFi-proektov-na-baze-Ethereum-po-stoimosti-zablokirovannyh-sredstv-300x192.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Top-5-DeFi-proektov-na-baze-Ethereum-po-stoimosti-zablokirovannyh-sredstv-768x492.png 768w\" sizes=\"auto, (max-width: 871px) 100vw, 871px\" \/><figcaption>Top-5 DeFi projects by TVL on Ethereum, $bn. Data: <a href=\"https:\/\/defillama.com\/protocols\">DeFi Llama<\/a> as of 01.10.2021.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>Compared to the previous month, September\u2019s TVL in DeFi rose slightly; looking at a 30-day window, it fell by about 3%.<\/li>\n<li>Curve Finance led TVL at $14.14 billion; its closest competitor, Aave, stood at $13.55 billion.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"506\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Top-20-monet-DeFi-proektov-po-rynochnoj-kapitalizatsii..png\" alt=\"Top-20 DeFi coins by market cap\" class=\"wp-image-151634\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Top-20-monet-DeFi-proektov-po-rynochnoj-kapitalizatsii..png 741w, https:\/\/u1f987.com\/wp-content\/uploads\/Top-20-monet-DeFi-proektov-po-rynochnoj-kapitalizatsii.-300x203.png 300w\" sizes=\"auto, (max-width: 741px) 100vw, 741px\" \/><figcaption>Top-20 DeFi coins by market capitalization. Data: <a href=\"https:\/\/messari.io\/screener\/defi-assets-(copy)-563C5306\">Messari<\/a> (as of 01.10.2021).<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"756\" height=\"503\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Krupnejshie-L2-resheniya-po-obemu-zablokirovannyh-sredstv.png\" alt=\"Largest L2 solutions by locked value\" class=\"wp-image-151638\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Krupnejshie-L2-resheniya-po-obemu-zablokirovannyh-sredstv.png 756w, https:\/\/u1f987.com\/wp-content\/uploads\/Krupnejshie-L2-resheniya-po-obemu-zablokirovannyh-sredstv-300x200.png 300w\" sizes=\"auto, (max-width: 756px) 100vw, 756px\" \/><figcaption>Largest L2 solutions by locked value. Data: <a href=\"https:\/\/l2beat.com\/\">L2 Beat<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>Ethereum continues to dominate DeFi. Its share rose by nearly $10 billion over the month. Worth more than $120 billion is locked in Ethereum-based apps and wrapped assets \u2014 accounting for over 70% of total TVL.<\/li>\n<li>With Avalanche Foundation launching a DeFi development fund and a private token sale of $230 million, TVL across Avalanche\u2019s native chain surged by 76% to $3.84 billion.<\/li>\n<li>Solana soared 185% as it overtook Dogecoin and Polkadot by market cap in early September. The surge is attributed to rapid NFT and DeFi growth on Solana.<\/li>\n<li>In the second-layer (L2) space, Arbitrum leads with a TVL of $1.42 billion, well ahead of dYdX, Optimism and others; it commands about 60% of the market.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\"><strong>DEX<\/strong><\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"550\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/DEX-13-1024x550.png\" alt=\"September 2021 in figures: Arbitrum rally, dYdX hype and Lightning Network revival thanks to El Salvador\" class=\"wp-image-151639\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/DEX-13-1024x550.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/DEX-13-300x161.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/DEX-13-768x412.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/DEX-13-1536x825.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/DEX-13.png 1700w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Trading volumes on Ethereum-based exchanges, $bn. Data: <a href=\"https:\/\/duneanalytics.com\/hagaetc\/dex-metrics\">Dune Analytics<\/a>.<\/figcaption><\/figure>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>In September, decentralized exchanges saw $76 billion in volume.<\/li>\n<li>Unchanged leaders on the spot market were Uniswap ($51.6bn), SushiSwap ($11bn) and Curve ($4bn).<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"208\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/dydx-1024x208.png\" alt=\"Trading volume in the dYdX L2 protocol\" class=\"wp-image-151640\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/dydx-1024x208.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/dydx-300x61.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/dydx-768x156.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/dydx-1536x312.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/dydx.png 1886w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Trading volume in the dYdX L2 protocol, $bn. Data: <a href=\"https:\/\/metabase.dydx.exchange\/public\/dashboard\/5fa0ea31-27f7-4cd2-8bb0-bc24473ccaa3\">Metabase<\/a>.<\/figcaption><\/figure>\n<ul class=\"wp-block-list\">\n<li>Meanwhile, dYdX gained momentum in the derivatives arena, using an Ethereum-based Layer-2 protocol. On September 27\u201328, daily volume on this platform exceeded the combined total of all other DEX platforms and even some major centralized exchanges like Coinbase \u2014 around $9 billion.<\/li>\n<li>Open interest (total outstanding positions) surpassed $500 million by month-end.<\/li>\n<li>The activity on the platform was linked to the earlier announced airdrop of the dYdX token for early users (7.5% of the issuance). Simultaneously, the project launched liquidity mining with a token-based incentive for trading turnover.<\/li>\n<li>In September, dYdX peaked at $27.8. The token joined the lists of many popular exchanges including Binance, Huobi and OKEx.<\/li>\n<li>Interest in the project, and in DEXs generally, was boosted by fresh China policy developments. The refusal by Huobi, Binance, and Gate to register new Chinese users positively affected the popularity of decentralised protocols, including dYdX.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\"><strong>Stablecoins<\/strong><\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"570\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/stejblkoiny-6-1024x570.png\" alt=\"September 2021 in figures: Arbitrum rally, dYdX hype and Lightning Network revival thanks to El Salvador\" class=\"wp-image-151641\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/stejblkoiny-6-1024x570.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/stejblkoiny-6-300x167.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/stejblkoiny-6-768x427.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/stejblkoiny-6-1536x855.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/stejblkoiny-6.png 1651w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Market capitalisation of stablecoins, $bn. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=USDT&#038;category=&#038;m=market.MarketcapUsd\">Glassnode<\/a>.<\/figcaption><\/figure>\n<ul class=\"wp-block-list\">\n<li>In September, the aggregate market cap of stablecoins surpassed $120 billion.<\/li>\n<li>Among projects, the leader remains USDT from Tether, with a total supply of about $65 billion.<\/li>\n<li>The Centre consortium resumed USDC issuance, with market cap surpassing $30 billion for the first time.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\"><strong>NFT<\/strong><\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"808\" height=\"358\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/OpenSea-5.png\" alt=\"OpenSea trading volume\" class=\"wp-image-151643\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/OpenSea-5.png 808w, https:\/\/u1f987.com\/wp-content\/uploads\/OpenSea-5-300x133.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/OpenSea-5-768x340.png 768w\" sizes=\"auto, (max-width: 808px) 100vw, 808px\" \/><figcaption>OpenSea NFT marketplace trading volume, $bn. Data: <a href=\"https:\/\/dune.xyz\/rchen8\/opensea\">Dune Analytics<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"885\" height=\"427\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Obemy-NFT-proektov.png\" alt=\"Largest NFT projects by trading volume\" class=\"wp-image-151644\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Obemy-NFT-proektov.png 885w, https:\/\/u1f987.com\/wp-content\/uploads\/Obemy-NFT-proektov-300x145.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Obemy-NFT-proektov-768x371.png 768w\" sizes=\"auto, (max-width: 885px) 100vw, 885px\" \/><figcaption>Top NFT projects by trading volume, $mln. Data: <a href=\"https:\/\/cryptoslam.io\/\">cryptoslam<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>In September, turnover for many NFT projects declined, including Axie Infinity (-57%), ArtBlocks (-57%) and CryptoPunks (-66%).<\/li>\n<li>GameFi tokens followed the trend and corrected throughout the month. Axie Infinity\u2019s native token AXS rose 5%, but most others posted double-digit losses.<\/li>\n<li>Overall trading volume on leading NFT marketplace OpenSea remained broadly unchanged, with September\u2019s total nearing $3 billion.<\/li>\n<li>In September, cryptocurrency exchange FTX <a href=\"#AOPEN_25\">launched<\/a> its own marketplace. Other notable events included the <a href=\"#AOPEN_26\">sale<\/a> of the Bored Ape Yacht Club on Sotheby\u2019s for $24 million, forecast to fetch $14\u201316 million, the tokenised artwork auction on Binance by <a href=\"https:\/\/t.me\/forklog\/21292\">the Hermitage<\/a>, and the revelation of Snoop Dogg\u2019s NFT collection worth over $17 million.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\"><strong>Activity of major players<\/strong><\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"968\" height=\"539\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-otkrytogo-interesa-po-bitkoin-fyuchersam-na-CME.-Dannye-CFTC-2.png\" alt=\"Open interest in Bitcoin futures on CME\" class=\"wp-image-151646\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-otkrytogo-interesa-po-bitkoin-fyuchersam-na-CME.-Dannye-CFTC-2.png 968w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-otkrytogo-interesa-po-bitkoin-fyuchersam-na-CME.-Dannye-CFTC-2-300x167.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-otkrytogo-interesa-po-bitkoin-fyuchersam-na-CME.-Dannye-CFTC-2-768x428.png 768w\" sizes=\"auto, (max-width: 968px) 100vw, 968px\" \/><figcaption>Open interest in Bitcoin futures on CME. Data: <a href=\"https:\/\/www.cftc.gov\/MarketReports\/CommitmentsofTraders\/index.htm\">CFTC<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"908\" height=\"532\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-pozitsij-krupnyh-igrokov-institucionalov-Commercial-na-CME.-Dannye-CFTC-1.png\" alt=\"Position dynamics of major institutional players on CME\" class=\"wp-image-151647\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-pozitsij-krupnyh-igrokov-institucionalov-Commercial-na-CME.-Dannye-CFTC-1.png 908w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-pozitsij-krupnyh-igrokov-institucionalov-Commercial-na-CME.-Dannye-CFTC-1-300x176.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-pozitsij-krupnyh-igrokov-institucionalov-Commercial-na-CME.-Dannye-CFTC-1-768x450.png 768w\" sizes=\"auto, (max-width: 908px) 100vw, 908px\" \/><figcaption>Long and short positions of hedge funds (non-commercial) on CME. Data: <a href=\"https:\/\/www.cftc.gov\/MarketReports\/CommitmentsofTraders\/index.htm\">CFTC<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>Open interest in Bitcoin futures on CME continued a downward trend. The overall number of traders is gradually shrinking.<\/li>\n<li>As before, among major players Non-Commercial positions are mostly shorts, while Nonreportable and Commercial categories are biased towards longs. Notably, the number of long positions among commercial traders surpassed shorts.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"494\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Otkrytyj-interes-po-mikrofyuchersam-na-bitkoin-CME-1024x494.png\" alt=\"Open interest in microfutures\" class=\"wp-image-151648\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Otkrytyj-interes-po-mikrofyuchersam-na-bitkoin-CME-1024x494.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Otkrytyj-interes-po-mikrofyuchersam-na-bitkoin-CME-300x145.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Otkrytyj-interes-po-mikrofyuchersam-na-bitkoin-CME-768x371.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Otkrytyj-interes-po-mikrofyuchersam-na-bitkoin-CME.png 1040w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Open interest in Bitcoin microfutures on CME. Data: <a href=\"https:\/\/www.cftc.gov\/MarketReports\/CommitmentsofTraders\/index.htm\">CFTC<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"767\" height=\"503\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-pozitsij-po-mikrofyuchersam-krupnyh-igrokov-kategorii-Commercial-na-birzhe-CME.-Dannye-CFTC.-1.png\" alt=\"Position dynamics of major institutional players on CME (Commercial)\" class=\"wp-image-151649\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-pozitsij-po-mikrofyuchersam-krupnyh-igrokov-kategorii-Commercial-na-birzhe-CME.-Dannye-CFTC.-1.png 767w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-pozitsij-po-mikrofyuchersam-krupnyh-igrokov-kategorii-Commercial-na-birzhe-CME.-Dannye-CFTC.-1-300x197.png 300w\" sizes=\"auto, (max-width: 767px) 100vw, 767px\" \/><figcaption>Dynamics of Commercial traders\u2019 positions in Bitcoin microfutures on CME. Data: <a href=\"https:\/\/www.cftc.gov\/MarketReports\/CommitmentsofTraders\/index.htm\">CFTC<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>More accessible microfutures for investors show a different picture \u2014 open interest is rising gradually, as is the number of traders.<\/li>\n<li>However, across all participant categories, short positions remain dominant, signalling bearish sentiment.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"853\" height=\"512\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Otkrytyj-interes-po-Ethereum-fyuchersam-na-CME-1.png\" alt=\"Open interest in Ethereum futures on CME\" class=\"wp-image-151650\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Otkrytyj-interes-po-Ethereum-fyuchersam-na-CME-1.png 853w, https:\/\/u1f987.com\/wp-content\/uploads\/Otkrytyj-interes-po-Ethereum-fyuchersam-na-CME-1-300x180.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Otkrytyj-interes-po-Ethereum-fyuchersam-na-CME-1-768x461.png 768w\" sizes=\"auto, (max-width: 853px) 100vw, 853px\" \/><figcaption>Open interest in Ethereum futures on CME. Data: <a href=\"https:\/\/www.cftc.gov\/MarketReports\/CommitmentsofTraders\/index.htm\">CFTC<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"877\" height=\"390\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-pozitsij-krupnyh-igrokov-kategorii-Commercial-po-Ethereum-fyuchersam.png\" alt=\"Position dynamics of major institutional players in Ethereum futures\" class=\"wp-image-151651\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-pozitsij-krupnyh-igrokov-kategorii-Commercial-po-Ethereum-fyuchersam.png 877w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-pozitsij-krupnyh-igrokov-kategorii-Commercial-po-Ethereum-fyuchersam-300x133.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dinamika-pozitsij-krupnyh-igrokov-kategorii-Commercial-po-Ethereum-fyuchersam-768x342.png 768w\" sizes=\"auto, (max-width: 877px) 100vw, 877px\" \/><figcaption>Position dynamics of Commercial traders in Ethereum futures. Data: <a href=\"https:\/\/www.cftc.gov\/MarketReports\/CommitmentsofTraders\/index.htm\">CFTC<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>Ethereum futures show a more positive picture with open interest rising, while Shorts remain dominant in many categories.<\/li>\n<li>Longs among Non-Commercial and especially Commercial participants are more prevalent than Shorts, indicating a more nuanced sentiment.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"671\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Krupnejshie-publichnye-kompanii-uderzhivayushhie-v-rezervah-bitkoin.-Dannye-Bitcoin-Treasuries.-1024x671.png\" alt=\"Largest public companies holding bitcoin as reserves\" class=\"wp-image-151652\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Krupnejshie-publichnye-kompanii-uderzhivayushhie-v-rezervah-bitkoin.-Dannye-Bitcoin-Treasuries.-1024x671.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Krupnejshie-publichnye-kompanii-uderzhivayushhie-v-rezervah-bitkoin.-Dannye-Bitcoin-Treasuries.-300x197.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Krupnejshie-publichnye-kompanii-uderzhivayushhie-v-rezervah-bitkoin.-Dannye-Bitcoin-Treasuries.-768x503.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Krupnejshie-publichnye-kompanii-uderzhivayushhie-v-rezervah-bitkoin.-Dannye-Bitcoin-Treasuries..png 1062w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Largest public companies holding Bitcoin in reserve. Data: <a href=\"https:\/\/www.buybitcoinworldwide.com\/treasuries\/\">Bitcoin Treasuries<\/a>.<\/figcaption><\/figure>\n<ul class=\"wp-block-list\">\n<li>MicroStrategy\u2019s BTC reserves increased by 8.5% in September \u2014 from 105,085 BTC to 114,042 BTC.<\/li>\n<li>Marathon Digital Holdings\u2019 reserves grew by 15.75% \u2014 from 5,784 BTC to 6,695 BTC.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\"><strong>Major venture rounds<\/strong><\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk has_ventures\">\n<div class=\"wp-block-monthly-reviews-thirds-wrapper reviews_has_thirds\">\n<div class=\"wp-block-monthly-reviews-third review_third\">\n<p style=\"font-size:24px\"><strong>$680 mln<\/strong><\/p>\n<p>NFT fantasy football platform <strong>Sorare<\/strong>. Valued at $4.3 billion.<\/p>\n<\/div>\n<div class=\"wp-block-monthly-reviews-third review_third\">\n<p style=\"font-size:24px\"><strong>$431 mln<\/strong><\/p>\n<p>Genesis Digital Assets.<\/p>\n<\/div>\n<div class=\"wp-block-monthly-reviews-third review_third\">\n<p style=\"font-size:24px\"><strong>$250 mln<\/strong><\/p>\n<p><strong>Dapper Labs<\/strong>, behind NBA Top Shot and the Flow blockchain.<\/p>\n<\/div>\n<\/div>\n<div class=\"wp-block-monthly-reviews-thirds-wrapper reviews_has_thirds\">\n<div class=\"wp-block-monthly-reviews-third review_third\">\n<p style=\"font-size:24px\"><strong>$200 mln<\/strong><\/p>\n<p>social network <strong>DeSo<\/strong> from the BitCloud creator and the Basis stablecoin.<\/p>\n<\/div>\n<div class=\"wp-block-monthly-reviews-third review_third\">\n<p style=\"font-size:24px\"><strong>$155 mln<\/strong><\/p>\n<p>infrastructure company <strong>Blockdaemon<\/strong>.<\/p>\n<\/div>\n<div class=\"wp-block-monthly-reviews-third review_third\">\n<p style=\"font-size:24px\"><strong>$130 mln<\/strong><\/p>\n<p>open banking startup <strong>TrueLayer<\/strong>.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<h2 class=\"wp-block-heading\"><strong>Regulatory milestones in September<\/strong><\/h2>\n<div class=\"reviews_has_halves stretch\">\n<div class=\"review_half\">\n<div class=\"review_single_blk has_region\">\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-81141\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Frame-1.png\" alt=\"Regulatory milestones\" width=\"106\" height=\"80\"><\/p>\n<ul>\n<li>The Bank of Russia urged <span class=\"tooltip\" data-descr=\"block cards and accounts tied to bitcoin exchangers\">to block<\/span> cards and accounts used for bitcoin exchanges and <span class=\"tooltip\" data-descr=\"restrict access of unqualified investors to Bitcoin\">took a stance against access for unqualified investors to Bitcoin.<\/span><\/li>\n<li>The U.S. Treasury <a href=\"https:\/\/home.treasury.gov\/news\/press-releases\/sm1000\">imposed<\/a> sanctions on the Bitcoin exchangers Suex, with offices in Moscow and Saint Petersburg.<\/li>\n<li>The government <strong>confirmed<\/strong> plans to launch a digital ruble by 2030.<\/li>\n<\/ul>\n<\/div>\n<div class=\"review_single_blk has_region has_top_divider\">\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignleft size-full wp-image-116085\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Frame.png\" alt=\"September 2021 regulatory milestones\" width=\"105\" height=\"79\"><\/p>\n<ul>\n<li>Ukraine <strong>adopted<\/strong> a law on virtual assets and <strong>proposed<\/strong> a tax regime for crypto-operations. A detailed <strong>analysis of the document<\/strong>.<\/li>\n<li>Lawmakers <strong>explained<\/strong> the status of mining in the country.<\/li>\n<li>Zelenskiy <strong>emphasised<\/strong> the importance of launching a legal crypto market for Ukraine.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<div class=\"review_half\">\n<div class=\"review_single_blk has_region\">\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignleft size-full wp-image-81142\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Group-1.png\" alt=\"Regulatory milestones\" width=\"105\" height=\"79\"><\/p>\n<ul>\n<li>The U.S. Treasury <strong>said<\/strong> that developing a tax framework for crypto transactions is a priority.<\/li>\n<li>Fed Chair Jerome Powell <strong>stated<\/strong> that the U.S. does not plan to ban cryptocurrencies as China did.<\/li>\n<li>Congress <strong>retained<\/strong> crypto-reporting tax provisions in the second infrastructure bill worth $3.5 trillion.<\/li>\n<li>Texas <strong>brought<\/strong> digital assets into the legal framework.<\/li>\n<li>The defence budget bill <strong>included<\/strong> a crypto clause.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"review_single_blk has_map review_2_map\">\n<p><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Group-2644-14.png\" alt=\"Regulatory milestones and sanctions map\" width=\"2350\" height=\"1182\"><\/p>\n<div class=\"country_blk\" data-blk=\"1\"><strong>El Salvador<\/strong> <a href=\"https:\/\/u1f987.com\/en\/news\/el-salvador-legalises-bitcoin-as-government-buys-550-btc\">legalised<\/a> Bitcoin. The government bought 700 BTC in September.<\/div>\n<div class=\"country_blk\" data-blk=\"2\">In <strong>Panama<\/strong> <a href=\"https:\/\/u1f987.com\/en\/news\/panama-introduces-bill-to-regulate-cryptocurrencies\">introduced<\/a> a bill to regulate cryptocurrencies.<\/div>\n<div class=\"country_blk\" data-blk=\"3\">President <strong>Turkey<\/strong> <a href=\"https:\/\/u1f987.com\/en\/news\/erdogan-says-turkey-is-waging-a-separate-war-against-cryptocurrencies\">announced<\/a> a crackdown on crypto.<\/div>\n<div class=\"country_blk\" data-blk=\"4\"><strong>China<\/strong> <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-slips-below-42000-as-china-tightens-crypto-trading-regulation\">crashed<\/a> Bitcoin and signalled a crackdown on crypto trading and mining. FTX <a href=\"https:\/\/u1f987.com\/en\/news\/ftx-moved-its-headquarters-from-hong-kong-to-the-bahamas\">moved<\/a> its HQ from Hong Kong to the Bahamas.<\/div>\n<div class=\"country_blk\" data-blk=\"5\">In <strong>Slovenia<\/strong> <a href=\"https:\/\/u1f987.com\/en\/news\/slovenia-weighs-10-income-tax-on-cryptocurrency-transactions\">to tax<\/a> crypto transactions at 10%.<\/div>\n<div class=\"country_blk\" data-blk=\"6\">Nigeria\u2019s regulator <a href=\"https:\/\/u1f987.com\/en\/news\/nigerias-financial-regulator-to-regulate-cryptocurrencies\">will tackle<\/a> cryptocurrency regulation.<\/div>\n<div class=\"country_blk\" data-blk=\"7\">In <strong>South Korea<\/strong> 40 of 60 Bitcoin exchanges <a href=\"https:\/\/u1f987.com\/en\/news\/media-40-of-south-koreas-60-crypto-exchanges-to-close-due-to-regulators-requirements\">will close<\/a> due to regulator demands.<\/div>\n<div class=\"country_blk\" data-blk=\"8\">In Uzbekistan\u2019s central bank <a href=\"https:\/\/u1f987.com\/en\/news\/uzbekistans-central-bank-rules-out-use-of-cryptocurrencies-as-a-means-of-payment\">banned<\/a> crypto as a payment method.<\/div>\n<div class=\"country_blk\" data-blk=\"9\">Estonia\u2019s Prime Minister <strong>stated<\/strong> there is no plan to legalise Bitcoin in the country.<\/div>\n<div class=\"country_blk\" data-blk=\"10\">Dubai\u2019s regulator <strong>approved<\/strong> crypto trading in its free zone.<\/div>\n<div class=\"country_blk\" data-blk=\"11\">Singapore <strong>warned<\/strong> investors about Binance without a license \u2014 the exchange <span class=\"tooltip\" data-descr=\"local restrictions\">will restrict<\/span> operations for local users from 26 October.<\/div>\n<\/div>\n<h2 class=\"wp-block-heading\"><strong>Significant September events<\/strong><\/h2>\n<div class=\"reviews_has_halves stretch has_articles\">\n<div class=\"review_half\">\n<div class=\"review_article_blk\">\n<div class=\"review_article_image\" style=\"background-image: url(https:\/\/u1f987.com\/wp-content\/uploads\/Twitter-min.png);\"><strong><a href=\"https:\/\/u1f987.com\/en\/news\/twitter-enables-bitcoin-tips-for-creators-via-lightning-network\">Twitter integrated bitcoin donations<\/a><\/strong><\/div>\n<p>Twitter\u2019s iOS app users gained the ability to receive donations via the Lightning Network. To work, a profile must be linked with a service such as CashApp.<\/p>\n<\/div>\n<\/div>\n<div class=\"review_half\">\n<div class=\"review_article_blk\">\n<div class=\"review_article_image\" style=\"background-image: url(https:\/\/u1f987.com\/wp-content\/uploads\/Changpeng-min.png);\"><strong><a href=\"https:\/\/u1f987.com\/en\/news\/changpeng-zhao-binance-abandons-its-decentralised-business-model\">Binance abandons decentralised model, US unit to pursue an IPO<\/a><\/strong><\/div>\n<p>CEO Changpeng Zhao said that a decentralised organisation of a global business hinders regulatory approval in jurisdictions with clear licencing regimes. The company <span class=\"tooltip\" data-descr=\"will abandon the model\">will abandon<\/span> this governance model. The US arm <span class=\"tooltip\" data-descr=\"will conduct\">will conduct<\/span> an IPO in the next three years.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"reviews_has_halves stretch has_articles\">\n<div class=\"review_half\">\n<div class=\"review_article_blk\">\n<div class=\"review_article_image\" style=\"background-image: url(https:\/\/u1f987.com\/wp-content\/uploads\/bitcoin-softforks.jpg);\"><strong><a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-core-22-0-released-with-taproot-support\">Bitcoin Core 22.0 released with Taproot support<\/a><\/strong><\/div>\n<p>Bitcoin developers <span class=\"tooltip\" data-descr=\"have released\">released<\/span> a new node software version 22.0. It includes support for the upcoming Taproot upgrade scheduled for November 2021.<\/p>\n<\/div>\n<\/div>\n<div class=\"review_half\">\n<div class=\"review_article_blk\">\n<div class=\"review_article_image\" style=\"background-image: url(https:\/\/u1f987.com\/wp-content\/uploads\/solana-min.png);\"><strong><a href=\"https:\/\/u1f987.com\/en\/news\/on-solana-on-chain-activity-stalls-after-a-technical-outage\">Solana network halted for 16 hours due to spam attack<\/a><\/strong><\/div>\n<p>On 14 September, in the beta mainnet, Solana experienced a technical issue \u2014 the blockchain stopped producing new blocks. Validators subsequently completed a restart after updating node software to version 1.6.25. The SOL price was not materially affected. Later developers <a href=\"https:\/\/u1f987.com\/en\/news\/solana-developers-identify-cause-of-major-outage\">stated<\/a> the outage was caused by a DoS attack.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<h2 class=\"wp-block-heading\"><strong>Quotes of the month<\/strong><\/h2>\n<div class=\"review_single_blk has_quote s\">\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Mask-Group-61.png\" alt=\"Mask Group\" width=\"166\" height=\"166\">\u201cThis is a completely different era. It is not worth comparing the situation to a bubble. In 2017 the bubble swelled and burst, but over the next three years people built the industry.\u201d<strong>Anatoly Yakovenko<\/strong><em>SOL founder<\/em><\/p>\n<\/div>\n<div class=\"review_single_blk has_quote s\">\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Mask-Group-62.png\" alt=\"Mask Group\" width=\"166\" height=\"166\">\u201cIn the coming years many countries will start to use cryptocurrency as part of monetary policy, either as part of reserves or for settlements with monetary regulators of other countries, or simply, as El Salvador did, make it a national currency.\u201d<strong>Charles Hoskinson<\/strong><em>Co-founder of Cardano<\/em><\/p>\n<\/div>\n<div class=\"review_single_blk has_quote s\">\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Mask-Group-63.png\" alt=\"Mask Group\" width=\"166\" height=\"166\">\u201cI think, ultimately, if Bitcoin does really succeed, regulators will kill it or try to. And I think they will, because there are opportunities.\u201d<strong>Ray Dalio<\/strong><em>Founder of Bridgewater Associates<\/em><\/p>\n<\/div>\n<div class=\"review_single_blk has_quote s\">\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Mask-Group-64.png\" alt=\"Mask Group\" width=\"166\" height=\"166\">\u201cStablecoins work like chips in a Wild West casino.\u201d<strong>Gary Gensler<\/strong><em>Chair, SEC<\/em><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Despite September\u2019s market correction, Ethereum miners posted record profits. The month also saw Arbitrum\u2019s rise in popularity and a new phase for the Lightning Network after Bitcoin was legalised in El Salvador. This and more in the latest analytics report.<\/p>\n<p>Sponsored by quppy.com, a payments system that supports crypto and fiat.<\/p>\n","protected":false},"author":1,"featured_media":50553,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"4","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[1144],"tags":[1335,1740,1337,325],"class_list":["post-50552","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-longreads","tag-arbitrum-arb","tag-bitcoin-industry-in-numbers","tag-dydx","tag-lightning-network"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"1","layout_type":"4","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/50552","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=50552"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/50552\/revisions"}],"predecessor-version":[{"id":50554,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/50552\/revisions\/50554"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/50553"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=50552"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=50552"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=50552"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}