By Franklin Smith
India recently introduced new bills to regulate the crypto market. That resulted in FUD and widespread panic, translating to a sharp decline led by dominant coins such as Bitcoin and Ethereum. However, let us find out what the global crypto market saw over the past week.
Bitcoin
El Salvador, the only nation that uses Bitcoin as a legal tender, plans to build an Oceanside BTC City near a volcano. The country seems to tighten its grip on Bitcoin, adding its holdings during the latest BTC crash.
Odell Beckham Jr., a Los Angeles Rams’ Football receiver, declared that he would receive his entire salary in BTC, thanks to his CashApp partnership. On the other side, Kazakhstan considered shifting to nuclear power to solve issues facing the nation’s power grid caused by increased Bitcoin miners. Keep in mind that crypto miners migrated to Kazakhstan after China banned cryptocurrency activities.
Crypto Business
Decentraland metaverse had its virtual real estate selling for a record high of $2.4 million. That had its token, MANA, reaching its ATH. Meanwhile, Fintech Company Stripe considers re-introducing blockchain services and crypto payments nearly three years after prohibiting BTC payments.
Coinbase, a blockchain service and crypto exchange platform, acquired Breadwallet, an open-source and free cryptocurrency wallet site. Moreover, League one club Monaco partnered with Chiliz, a leading blockchain provider in the entertainment and sports industry, to introduce Fan Tokens.
Altcoins
eToro, an Israel-based exchange, declared delisting two digital tokens, TRX and ADA, from United States clients. Meanwhile, Moonbeam announced winning the 2nd Parachain auction after losing the first one to Acala. Keep in mind Moonbeam community contributed to more than 35 million DOT to aid Moonbeam in securing the slot.
Solana, a crypto blockchain designed to ensure energy efficiency, recently released its Energy report detailing how its protocol impacted the crypto space. Solana network consumes less electricity than charging a smartphone.
Non-fungible Tokens (NFTs)
The OpenSea and Christies collection will be available for viewing starting December 1, featuring artists like Ash Thorp, GMUNK, Oseanworld, Recur, and Andre O’Shea. Meanwhile, Collins dictionary shows that NFT is the word of this year, pushing ‘crypto’ to the 2nd position.