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Nonfungible tokens, or NFTs, are yet another type of cryptocurrency, denoting that it is a one-of-a-kind asset and cannot be replaced. A Bitcoin, for example, is fungible, meaning you can exchange one for another and get precisely the identical thing. However, a one-of-a-kind trade card, on the other hand, cannot be duplicated. You’d get something altogether different if you swapped it for a different card.
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Plenty of altcoins have also taken a beating. Dogecoin erased the breakneck gains of the week and then some, nearly halving its price after a meteoric climb last weekend. XRP is down 35% week-over-week, Stellar is down 30% and Polkadot is down 25% since last week.
A resolution published in the Official Gazette said the Central Bank will set rules for such currencies and determine how to license providers of related services within Cuba.
SafeMoon’s Facebook page states: “Remember, getting to the moon takes time and the longer you hold the more tokens you pick up.”
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It follows recent crashes brought on by Tesla making a u-turn on accepting Bitcoin as payment for its products and China clamping down on initial coin offerings, block exchanges and warned against speculative trading.
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When the spectre of restrictive regulation hovers over the cryptocurrency markets, steep drops invariably occur. If it happens to concern China or the US, brace yourself if you’re an investor—the market never stops trading, and what took months to build can crumble to nothing in an afternoon.
Former Reserve Bank of India (RBI) deputy governor R Gandhi on Tuesday made a case for treating and regulating crypto as a separate asset class with a view to enabling governments around the world to effectively deal with illegal activities associated with virtual currencies.
El Salvador's move to adopt Bitcoin is the first time Bitcoin has been adopted as a legal tender in a sovereign nation.
Bitcoin price hits new record high - why is Bitcoin up today? Cryptocurrency prices of Bitcoin, ETH and Shiba Inu (Image credit: Getty Images/Canva Pro)
Mr Musk has served as a key for driving up the prices for other major meme coins this year, including Dogecoin and Shiba Inu.
Our data aggregators include CoinMarketCap, Coinpaprika, TradingView, CryptoCompare and IntoTheBlock.
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