This week, Bitcoin has gone from $46,000 to nearly $50. With adoption booming, enthusiasts expect much more.
There are only 11 days left before the BTC becomes the official currency of El Salvador, which will inevitably bring more than 6 million to the pool of people who accept cryptocurrency as a form of payment.
Chainalysis, however, published a study on Wednesday showing that bitcoin had been on the rise long before the “Bitcoin Law.” According to the analysis, the global adoption of cryptocurrencies has risen by 2300% in the last 2 years.
Meanwhile, the director of the Central Bank denies that Brazil can follow in El Salvador’s footsteps and calls bitcoin “speculative”. There is, however, no intention to prohibit the use of BTC in the country, which is already positive.
Economy Minister Paulo Guedes, in turn, has his eye on another currency, a completely new project. How about mixing the real ‘Bolivarian’ with the decaying Argentine peso? For over a decade Guedes has been defending a single currency for Mercosur.
What is your opinion about this? Leave it in the comments section below this article.
Games and NFTs on Bitcoin and other news of the week
The non-fungible token market is bringing new people into the cryptocurrency market, and Glassnode has the data to back it up.
The OpenSea NFTs marketplace alone has traded over $1 billion dollars and may close the month of August with a volume of $2 billion. This amount is more relevant than the entire volume of bitcoin in Brazil in the month of July.
Adoption is also growing with this new craze and Bitcoin is not turning a blind eye to this trend. The Bitcoin sidechain called Liquid, developed by Blockstream, is embracing NFTs and play-to-earn games (gaming dynamics popularized with Axie Infinity).
As Bitcoin pioneer Adam Back posted on Twitter, it’s now possible to earn satoshis on the Lightning Network just by playing blockchain games. The potential of these technologies to bring new people to the market is already being seen.
Be sure to read other important news about cryptocurrencies that came out this week:
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