Weekly Nutbox Report #2

Hello folks. the cryptocurrency world last week can be said to have been mixed with joys and sorrows.

Bitcoin and Ethereum are leading the rise, and bring the energy to all altcoins. $BNB has increased by 18.1% in seven days, $DOT has increased by 21.3%, and even $TRX, which normally would not see any price changes, has also increased by 21.1%. These good news made coin holders a little relieved; it seems that the days of all crypto prices being cut in half since this spring has finally passed.

However, the incident of PolyNetwork being hacked in the middle of the week surprised everybody within the decentralized financial world. Network security is always an important issue in the online world. In particular, it is rumored that the hack was an insider's job, which has really cast a shadow over DeFi, a decentralized financial management system.

I hope and appreciate that people who work hard for Web3.0, blockchain and decentralized finance will work ever harder, so that us, as the ordinary crypto world citizens would have some peace of mind, and not worrying about having our assets stolen.

Back to the news of our Nutbox projects. The price of $PNUT took off quickly from Tuesday, but had lost her momentum during the weekend and returned to the level at the beginning of the week. If you look at Bitcoin or Ethereum, you can basically find a similar trend.

I don't know if it is related to the hacking incident mentioned above, but this year we have gone through so many situations that led to the price drop. It would post no surprise any more, right?

Nutbox mining by delegation pool lost around 200,000 delegated power two weeks ago; however, the number quickly rebounded. On the day of August 15th, not only recovered all the loss , it also exceeded another 3,000 points.

During the three days from August 13th to August 15th, the energy of the upsurge decreased; this may be the bottle net of the current total delegated power. However, I think the upcoming Walnut project will become another force to push over the current ceiling in the remaining days of August.

Nutboxes' Walnut project is a decentralized platform, which provides an opportunity for anyone to create their own staking pools just like $PNUT DeFi. Users do not need to have any Web 3.0 or blockchain programming experience to create their own decentralized staking pool.

The Nutbox team used the last week to conduct internal tests on Walnut's network; after solving some technical issues, it is expected to deploy the Testnet this week.

The Nutbox team will hold an AMA event on Telegram on August 18th this week to share with you the current status of the Nutbox and the upcoming Walnut project.