The Crypto market had a tough week which led to a return to the 2 trillion dollars mark. The biggest cryptocurrencies had a drop of around 15% while Solana is still holding strong. In the meantime, the industry’s fundamentals are still growing. This week’s example is the launch of Cardano Alonzo hard fork.
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Crypto Adoption
El Salvador officially adopted Bitcoin as legal tender on Tuesday. Salvadorians can now pay everything, from food to taxes, with the world’s most famous cryptocurrency. President Nayib Bukele also confirmed that El Salvador’s government bought 150 Bitcoins during the market selloff.
Regulation
Ukraine legalizes and regulates cryptocurrencies. Ukrainian parliament adopted a law that originates from 2020. which sets ground rules for crypto adoption. Will Ukraine be the next country to make Bitcoin a legal tender?
Cardano
Cardano launched Alonzo hard fork yesterday, September 12th. Alonzo hard fork brings the functionality of smart contracts to the Cardano network which allows developers to create their own smart contracts. Read more in the article What Is Cardano Alonzo Hard Fork And Why Is It Important?.
NFT
NFT project Bored Ape Yacht Club sold the collection of 101 tokenized apes for $24 million which doubled the $12 million estimations. The NFT industry continues its growth.
