The masses ❤️ crypto again.

The recent disconnect between institutions and retail investors in their outlook seems to be narrowing.

Re-sharing below the latest edition of #Web3 Weekly, my regular newsletter about decentralization. This installment covers Aug. 1–7, 2021. If you’d like to get #Web3 Weekly in your inbox every Sunday, please subscribe here.

The mainstream is back, baby.

I’ve recently lamented the masses’ chilly attitude toward crypto compared to the bullishness of big institutions. But now that seems to be changing.

The most obvious signs are exploding trading volumes and prices of late, led by a second straight week of big gains for bitcoin. The token topped $45,000 this morning for the first time since mid-May, good for a weekly return of 7%.

Digging deeper, it took only four months for the number of crypto users worldwide to double, topping 221 million people, according to new research from analyst Kevin Wang. And Square reported that its users bought an eye-popping $2.7 billion in bitcoin in the second quarter.

Heck, Google even relaxed its longstanding ban on crypto ads on Wednesday. This puts them more in line with the approach of cable television, where spots from the likes of Grayscale and eToro have become a staple of financial newscasts this year. So expect to see similar promos popping up soon in your search results as well.

On to the week’s other news:

That’s it for now. As ever, a quick disclaimer: This newsletter is intended for informational purposes only, not as investment advice. For the latter, please DYOR and consult appropriate financial professionals to make the most suitable choices for your particular needs.

Thanks for spending some time with the newsletter today! A full revision history of it, including earlier drafts, is available here if you’re interested. If you’d like to get updates like this in your inbox every Sunday, please join our email list here.

Head of Content & Writer Development at Capsule Social. Also publish the newsletter #Web3Weekly. Former reporter for WSJ, Washington Post, and Vice.