Business
oi-Sneha Kulkarni
The worldwide crypto market valuation is now $2.08 trillion, down 2.72 percent from the previous day.
The overall crypto market volume over the last 24 hours has decreased by 0.77 percent to $111.70 billion. The overall volume of all stable coins is now $86.85 billion, accounting for 77.75 percent of the total 24-hour volume of the crypto market. Bitcoin is presently valued at $49,236.56.
El Salvador
El Salvador’s president, Nayib Bukele, who was a driving force behind the country’s adoption of Bitcoin (BTC), stated that residents will be able to convert their cryptocurrency to fiat currency as soon as Bitcoin is recognized as legal tender.
Bukele stated 4.5 million individuals in El Salvador would have the option of HODLing their Bitcoin or “withdraw[ing] it in cash at any of the 200 ATMs” once the country formally adopted the cryptocurrency as legal tender. According to El Salvador’s president, there will be 50 outlets with the ability to withdraw or deposit fiat, allowing residents to hold crypto or liquidate their salaries quickly.
VISA
With a $150,000 purchase of a CryptoPunk, the collection of digital artworks that pioneered the mainstream culture of the sector back in 2017, credit card giant Visa has made a big impression in the nonfungible token (NFT) arena.
Visa bought CryptoPunk 7610, a female figure with a mohawk, clown green eyes, and lipstick, which was claimed on June 23, 2017 and sold a month later for 0.6 Ether (ETH) ($114 at the time).
Ethereum
Geth, Ethereum’s most popular software client, has released a hotfix for a critical security flaw in its code.
According to a message on the release page, the patches were kept under wraps “to give node operators and downstream projects time to update their nodes and software.”
Tether
Tether, the world’s largest stablecoin, USDT, has resumed printing after a two-month hiatus that alarmed investors and generated speculation.
Tether has generated at least 2.3 billion USDT since August 1, bringing the token’s market cap to $65 billion, according to a Tether spokesman. The USDT is normally traded at $1 and is tied to the US dollar.
Paypal in the UK
PayPal is expanding its cryptocurrency service to the United Kingdom, allowing clients to purchase, sell, and store four different cryptocurrencies on the PayPal network. PayPal announced that users will be able to deal in Bitcoin, Ether , Litecoin, Bitcoin cash for as little as £1 ($1.40).
The launch marks PayPal’s first foray into the cryptocurrency market outside of the United States.
Upbit
Upbit, a cryptocurrency exchange, was the first to register with South Korea’s Financial Intelligence Unit (FIU) before the September deadline, according to the FIU website. According to local media on Friday, Doh Gyu-sang, vice chairman of the Financial Services Commission, anticipates one or two additional exchanges to register before the end of August.
Story first published: Tuesday, August 24, 2021, 21:23 [IST]