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These little cryptocurrencies have suddenly skyrocketed as Bitcoin and Ethereum prices plummeted.

 


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With the old one …

The top 10 cryptocurrencies measured by CoinMarketCap are changing again, with the Ethereum Challenger avalanche on the latest coins. Both meme-based Dogecoin and Shiba Inu are out, but crypto.com’s Kuro may soon be on top flight.

Ethereum rivals Avalanche and crypto.com black prices have skyrocketed as Dogecoin and Shiba Inu … [+] it fell.

CryptoCodex

Avalanche avax tokens have risen almost 40% last week alone as traders want to be the next Solana or Cardano. The rise of Ethereum’s rivals dominated the debate between the crypto communities this year, with many dissatisfied with the obvious shortcomings of Ethereum, but in terms of decentralized finance (DeFi) or non-fungible tokens (NFT). There are no myriad alternative blockchains that could get much in market share.

Despite the latest Bitcoin Ganbit weekend news in El Salvador, Bitcoin prices have fallen this morning, away from $ 60,000 per Bitcoin level (see below for details). Ethereum itself is down about 4%, but Solana is the only riser in the top 10 in the last 24 hours of trading.

Read this now: A coin worth $ 0.00004893 highlights the wild decimal frontier of cryptography

Bitcoin Fortress in El Salvador

President El Salvador Nayib Bukele at the Closing Ceremony of the Latin Bitcoin Conference … [+] (LaBitConf) At Mizata Beach on weekends

AFP via Getty Images

Shining City of the Chain: El Salvador, a Central American country that made history when Bitcoin was adopted as one of the national currencies in September, was partially funded by a billion dollar Bitcoin bond. We are planning to build a “bitcoin city” powered by a volcano. The actual “Bitcoin Citadel” is circular, boasting airports, residential and commercial areas, and features a central square designed in the shape of Bitcoin.

Importance: El Salvador to promote investment in the country when influential politicians and world leaders are becoming more and more critical of the effects of unregulated, uncontrolled cryptocurrencies. We are doubling the bet of using Bitcoin. Former U.S. President Hillary Clinton, who hopefully served as Secretary of State under President Barack Obama last week, warned that rising bitcoins and cryptocurrencies could undermine the status of the US dollar’s reserve currency. .. But not everyone else is against Bitcoin and crypto. Two US mayors, Eric Adams of New York and Francis Suarez of Miami, both support the adoption of Bitcoin.

Bond’s villain: President Nayib Bukele, who promotes El Salvador’s Bitcoin, apparently jokingly declared El Salvador’s “dictator” in September, planning on-stage at the culmination of a week of Bitcoin promotion. To the city founded by King Alexander the Great, who revealed and appreciated the plan. To fund the project, El Salvador will issue $ 1 billion in “Bitcoin Bonds” from early 2022. This was announced by Blockstream Chief Strategy Officer Samson Mou speaking with Bukele. Mr. Buquere said the city has no property, income or capital gains taxes, but is covered by sales tax and money raised from bonds. At Mizata’s beach resort, “Invest here and make all the money you want,” said Bukele, all white and backwards in a baseball cap. “This is a completely ecological city that is functioning and energized by volcanoes.”

Conclusion: El Salvador is completely devoted to full “bitcoinization” and the crypto community, who have long argued that “good money drives out the bad,” will test the hypothesis for the first time.

Read this now: The strange rise of “Bitcoin Citadel”

last week

Watch out for these cryptocurrencies and crypto-related events this week …

US President Joe Biden will name the Federal Reserve Chairman candidate in the coming days. Current Chair Jerome Powell and Federal Reserve Board Lael Brainard are the leading candidates.

The World Trade Organization General Council will meet in Geneva prior to the 12th Ministerial Meeting next week. Increasing reliance on global digital commerce and China’s influence are on the agenda. Bloomberg has an introductory book.

This weekend is Thanksgiving holiday in the United States. Traditionally a big time for Bitcoin and cryptocurrency prices, the traditional American market has closed for a few days and families are keen to spread good words about blockchain-based assets.

Read this now: Why Bitcoin is the best weapon society has against inflation and wealth inequality

Sources

1/ https://Google.com/

2/ https://www.forbes.com/sites/billybambrough/2021/11/22/cryptocodex-as-the-price-of-bitcoin-and-etheruem-plummet-these-small-cryptocurrencies-are-suddenly-soaring/

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