Crypto Weekly Roundup: ‘Bitcoin City,’ FUD In India, ‘NFT’ Word Of The Year, And More

Recently, a new bill was introduced in Parliament that would regulate all cryptocurrency in India. This has led to widespread panic and fear, which in turn has resulted in a sharp fall of top cryptos such as BTC and ETH. Let’s learn more about this, and other interesting events that took place in the crypto and blockchain markets over the past week.

Bitcoin

El Salvador is the country that first legalized Bitcoin as a currency.

Odell Beckham Jr. is the new Los Angeles Rams wide receiver. He has made it clear that he will receive his full salary in Bitcoin as a result of his partnership with CashApp.

Kazakhstan may turn to nuclear power in order to address problems with the power grid following the influx of Bitcoin miners to the country.

Business

A parcel of virtual real property in Decentraland has been sold for record $2.4million, causing the MANA token’s all-time high to rise shortly after the sale.

Nearly three years after they closed their Bitcoin payment option, Fintech company Stripe is looking at reintroducing blockchain integration and cryptocurrency transactions.

Coinbase, a crypto exchange and blockchain services company, has acquired BRD Wallet. This is a free and open source crypto wallet platform.

AS Monaco, a French football league team, has teamed up with Chiliz (a leading blockchain service provider in sports and entertainment) to launch $ASM Fan Tokens at Socios.com.

Altcoins

eToro, a crypto exchange based in Israel, has announced it will remove the two cryptocurrencies, ADA, and TRX from its US listings.

Moonbeam, which had lost the first Parachain auction to Acala has announced it has won the second Parachain auction thanks to a highly successful crowd loan campaign. Moonbeam received over 35 million DOT ($1.4 billion) from its community to help it secure the slot.

Solana, a high performance blockchain that is designed to save energy, published its Energy Use Report recently. It detailed how the design decisions made for its blockchain protocol had an impact on crypto industry.

Regulation

Former presidential candidate Hilary Clinton warned about the dangers of allowing new technologies such as cryptocurrencies to be unregulated. She stated that regulation was needed to protect crypto markets from manipulation by nations like Russia and China.

A LocalCircles survey found that 71% of Indians are skeptical or uncertain about cryptocurrencies. One in two Indians is against legalization of crypto in the country.

Andrew Bailey, Bank of England Governor, has called El Salvador’s decision to adopt Bitcoin as legal tender “concerning” and added that its volatility could catch out citizens of the country.

NFT

The Christies and OpenSea collections are open for viewing starting 1 December. They will include artists like Recur, Oseanworld and GMUNK as well as Ash Thorp and other notables.

Collins dictionary says that “NFT” has been named the new word for the year, after “crypto” was moved to the second position.

Disclaimer: This article is intended for informational purposes only. This article is not intended to be used for legal, tax, investment or financial advice.

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https://cryptodaily.co.uk/2021/11/crypto-weekly-roundup-bitcoin-city-fud-in-india-nft-word-of-the-year-and-more