The country will be the first to recognise the crypto-currency as legal tender from September 7.
Alexis Ohanian has partnered with the Solana Foundation to invest $100 million to build social-media projects on the solana blockchain.
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Since Binance doesn't allow for US Dollar deposits and trading, most of the volume on the exchange occurs against stablecoin pairs such as BTC/USDT, BTC/USDC, and BTC/BUSD (BUSD is Binance's native stablecoin). One other factor to note is that although Binance does have more volume than any other exchange, that volume is spread across a much larger pool of cryptocurrencies than other exchanges such as Coinbase and Kraken. Therefore, it's always important to look at the specific asset you're interested in trading in order to determine how liquid (or illiquid) it is.
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A look at recent charts shows that Safemoon has been on a downtrend since early November. Safemoon has also not been doing very well since its last all-time high around April 21, 2021. Despite rising in mid-May, the next time Safemoon saw bullish growth was at the end of October.
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Previous PostPrevious What algorithm is adopted to protect the security of Blockchain?
It’s always hard to know exactly what is driving crypto prices given the opacity of the market and a certain rather large player whose name rhymes with weather, but we think it’s probably partly related to the same market madness that drove GameStop to da moon, as well as to a desire for an alternative to central bank-issued money due to worries about the government overreach (by means of Covid restrictions), and also endorsements from chief executives at the likes of PayPal, Tesla and Twitter/Square.
Musk has been a long-time advocate of cryptocurrencies and the Tesla decision was felt across the market, with other digital tokens going down in price.
"Brian's work for Binance.US has been invaluable and we hope he will continue to be an integral part of the crypto industry’s growth, advocating for regulations that move our industry forward," Zhao Tweeted on Friday.
Cryptocurrency can be mined by people by using computers. By mining cryptocurrency, people are rewarded small amounts of Bitcoin or another crypto for doing so.
Ethereum Dropped After Setting Another New All-Time High. Here’s What Investors Should Do Next
Though both assets posted a quick recovery, the event has made a significant impact on the market. Bitcoin retraced by 7.4% a few hours after making a new all-time high at $67,000.