Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,17 trillion. Bitcoin continues to trade at around $62,300. Ethereum experiences no changes and stagnates at around $2,400. XRP is down by 2%, Solana by 1%, and Dogecoin by 3%. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector decreased the total value of protocols (TVL) to around…
El Salvador
OTC Desk Outflows Surge after El Salvador Adopts Bitcoin as Legal Tender
El Salvador made headlines this week after it became the first country in the world to declare bitcoin as legal tender. The Central American country's congress passed the bitcoin bill proposed by President Nayib Bukele on Thursday by a "supermajority''. The BTC price rose shortly after the vote, climbing 5% to $34,239. Following the ratification of El Salvador's bill into law, volume outflows from bitcoin OTC desks, a solid indicator of institutional buy interest, have been surging. The data below…
4 years ago
El Salvador’s Passes the Bill to Take up BTC as a Legal Tender
The Salvadorian Congress garnered 62 out of 84 votes on Wednesday morning to become the first country to recognize bitcoin as a legal tender officially. President Nayib Bukele, who proposed the bill approved by Congress, is set to sign it later today. Making History According to El Salvador'sSalvador's proposed bill, its citizens can now pay bills and taxes in bitcoin. Exchanges within the country's borderline will not be subject to profit tax. Article 7 of the bill states that businesses…
4 years ago