The video discusses the impact of Evergrande’s looming collapse on the crypto market, with Bitcoin, Ethereum, and Cardano falling by as much as nine percent in 24 hours. Evergrande’s shares began falling in August, raising concerns about market stability due to its massive debt. The uncertainty surrounding Evergrande’s situation has led investors to take risk off the table in various asset classes. Additionally, China’s clampdown on mining has seen fluctuations in mining difficulty, with ongoing increases in difficulty expected. The video also mentions the modern twist on the Mid-Autumn Festival celebrations in East Asia, with some opting for virtual gatherings in the metaverse due to the pandemic. The metaverse has become a way for people to connect and celebrate, with limited edition mooncake NFTs being snapped up. Some physical mooncakes offered in a Hong Kong mall by a vegetarian food retailer are also in high demand. Overall, the video highlights the current challenges and trends in the crypto market and the innovative ways people are adapting to celebrate traditional holidays.
