The price of the top cryptocurrency tends to weaken on Saturday, October 15, 2022. Even the price of Bitcoin (BTC) is struggling in the red.
Based on Coinmarketcap data, on the morning of Saturday 15 October 2022, the cryptocurrency with the largest market capitalization, Bitcoin (BTC) is moving in the red. The price of Bitcoin is down 2.63 percent in the last 24 hours. Over the past week, the price of bitcoin has fallen by 2.03 percent. Now, the price of bitcoin is at $19189.16 or about Rs 296.95 million (assuming the US dollar against the rupee is in the range of 15,475).
Likewise the price of Ethereum. The price of Ethereum (ETH) has lost 2.02 percent in the last 24 hours. In the past week, the price of Ethereum fell 2.65 percent. The price of Ethereum is currently at $1,299.62, or about 20.10 million rupees.
Then, the price of the binance coin (BNB) fell by 2.4 percent in the past 24 hours. Over the past week, the price of BNB has dropped by 4.41 percent. Now, the price of BNB is at a position of $269.87.
The price of XRP has shrunk by 2.42 percent in the past 24 hours. In the past week, the price of XRP has fallen by 5.73 percent. XRP is currently priced at $0.4868.
Similarly, the price of Cardano (ADA) is down 4.95 percent in the last 24 hours. Last week, the price of Cardano fell by 13.49 percent. Now, the price of Cardano is at the position of $0.3675.
Solana (SOL) price is down 5.43 percent in the last 24 hours. Over the past week, solana’s price has been reduced by 8.95 percent. Currently, solana is priced at $30.02.
The price of Dogecoin (DOGE) is down 3.54 percent in the last 24 hours. In the past week, the price of Dogecoin fell by 5.99 percent. Now, the price of Dogecoin is 0.05876 USD.
Stable currencies like Tether (USDT) have been in the green in the last 24 hours. Over the past week, USDT price has been in the red. The price of USDT is currently 1.00 USD.
The price of the US Dollar (USDC) decreased by 0.01 percent in the last 24 hours. Similarly, over the past week, the US dollar has fallen by 0.01 percent. Now, the USDC price is in the position of 1 USD.
On the other hand, the price of Binance USD (BUSD) increased by 0.02 percent in the past 24 hours. Over the past week, the price of BUSD increased by 0.03 percent. The US dollar is currently trading at $1.00.
Disclaimer: Every investment decision is in the hands of the reader. Study and analysis before buying and selling cryptocurrencies. Konespusaha is not responsible for profits and losses resulting from investment decisions.
Previously, Blockchain Tron signed an agreement with the Dominican government to issue a national fan token to promote Caribbean island heritage and tourism, according to an announcement on October 7, 2022.
According to the agreement, the Tron protocol is “the designated national blockchain infrastructure of the island nation.”
The regulations issued on the same day indicate that the original digital token of the Tron network has been granted “legal status,” which means that the token is now allowed to be used as a medium of exchange in the country.
Governments can now accept Tron governance tokens such as TRX, BTT and JST, as well as stablecoins pegged to the US dollar on Tron’s TRC20 protocol such as USDT and USDD, as payments for public services including tax payments.
Private companies can also accept these cryptocurrencies as payments where the necessary infrastructure for transactions is available. With endorsement, Tron will also issue Dominican Currency (DMC), a blockchain-based token to help boost Dominica’s global excitement for its natural heritage and tourist attractions,” according to the government.
In Dominica, the exchange rate between the native Tron token and the East Caribbean Dollar (XCD) will be freely determined by the market, while the exchange between the token and XCD will not be subject to capital gains tax, the regulation says.
Previously, Bank of England Governor Andrew Bailey recently warned and offered his views on Bitcoin and cryptocurrencies. Transfer this into a future posts podcast.
His warning came after the cryptocurrency market crash, which has lost nearly $500 billion in market capitalization this month, or about IDR 7,288 trillion. Bitcoin, the largest cryptocurrency, has fallen more than 25 percent in the past 30 days.
Although Bailey acknowledges the importance of the blockchain, the technology that underpins cryptocurrencies, Bailey is not convinced by bitcoin as a payment method. He added that the British central bank is planning its own digital currency.
“In terms of payments, I don’t think it would be crypto in the bitcoin sense of the term. I don’t think it’s really a practical way to pay,” said Bailey, quoting Bitcoin.com, written on Saturday (28/5/2022).
“What I think needs to be determined is, if we are more likely to live in a world of digital currencies than older methods of payment, what form digital currency, digital use, will be exactly. Which is the accepted standard.”
He also admits that he does not own cryptocurrencies as his investment asset. He feels that Bitcoin supporters will not like him because according to him, Bitcoin has no intrinsic value.
“It can have an extrinsic value in the sense that people want to have it. People collect all kinds of things but they have no intrinsic value,” he said.
Bailey has never been a fan of Bitcoin or cryptocurrency. Last month, he said, cryptocurrency created “opportunities for really criminal criminals.”
In March of last year, he said that cryptocurrencies were dangerous. Later in November, Bailey raised concerns about El Salvador’s adoption of bitcoin as legal tender alongside the US dollar.