Crypto weekly wrap: Binance hack, inflation fears keep volatility high

The biggest news of the crypto world this week was that roughly $100 million of Binance Coin was stolen by hacking. It has sent the price of Binance down by 4 per cent

The volatility in the cryptocurrency markets stayed high in the past week due to high inflation and fluctuations in the US Dollar. However, following the UK government's U-turn on the tax cuts, the major digital tokens have been trading in the green. 

"The volatility has broadly increased in recent weeks as the market participants reacted to the rising inflation and fluctuations in the US dollar," Edul Patel, co-founder and CEO of crypto investment platform Mudrex, said.

"There was a major policy u-turn from the newly formed UK government, which decided to roll back the proposed tax cuts, that had sent