Major Coins Turn Red Amid Global Cryptocurrency Market Fumble
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- Everyone from Coinbase to FTX tried to get the attention of NFL fans.
- El Salvador’s adoption of Bitcoin as legal money is also on the table.
Despite reports that Ukraine is considering legalizing cryptocurrency and the possibility of conflict breaking out between Russia and Ukraine, the global crypto market has continued to trade downward. The global cryptocurrency market capitalization had fallen 2.66 percent to $1.82 trillion. Moreover, with a total value of $61.88 billion, the crypto trading volume was down 29.31%.
UAE Plans to Offer Licenses
According to a report by Bloomberg, the United Arab Emirates (UAE) plans to offer licenses to virtual asset service providers in the first quarter of 2022. In related news, Bit2Me has become the first Spanish crypto service provider to be granted a license by the Central Bank of Spain.
According to CoinMarketCap statistics, the price of BTC, the world’s oldest cryptocurrency, fell by 1.3 percent to $40,140.08. The second-largest cryptocurrency by market value, ETH, fell by 3.02 percent to $2,814.13. Dogecoin (DOGE) was trading at $0.1415, up 0.35 percent.
Everyone from Coinbase to FTX tried to get the attention of NFL fans with their advertising during the Super Bowl last weekend. However, the question remains as to which advertisement was the more effective. Well, there seems to be a lack of preparedness among certain companies, as the Coinbase website crashed amid huge visitors.
El Salvador’s adoption of Bitcoin as legal money is also on the table. When three senators in Washington sent a bill to President Nayib Bukele, he strongly objected. Many argue about whether or not the United States should be involved in the Central American nation’s extreme policies and whether or not they should be intervening at all.
Cryptocurrency
