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Economic effects to expect from the adoption of Bitcoin (BTC) by Salvador

By
Dave Triplett
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0

After El Salvador’s decision to legally recognize two currencies in its territory, namely the dollar and the Bitcoin, we are witnessing the emergence of new monetary dynamics. In the coming years, El Salvador will be closely watched by economists as this country remains the first to test Bitcoin. The economy of El Salvador remains a rather unstable, inegalitarian and undiversified economy. In this, El Salvador has a certain comparative advantage in adopting several national currencies compared to developed countries. Nevertheless, the instability of Bitcoin remains a strong monetary constraint. Here we will try to assess the advantages or disadvantages of adopting Bitcoin as a national currency.

Focus on the economy of El Salvador.

Growth and inflation.

El Salvador remains a fairly unstable economy. With a GDP of $ 27 billion in 2019, El Salvador is the 103rd economy in the world. In addition, average annual inflation measured since 1966 is + 4.36% while average growth stands at + 0.67%, which is relatively low. The country has accumulated a strong stunted growth mainly due to its political situation at the end of the 20th century. In addition, over the last decade, there has been an extremely sharp decrease in inflation. For its part, public debt rose from 27% of GDP in 2000 to nearly 60% in 2017.

Nevertheless, according to the United States Census Bureau, nearly 2.2 million Salvadorans would live in the United States in 2019. That is to say, nearly a third of the population of El Salvador would immigrate to the United States. United . At the political level, the President is elected for 5 years while the 83 deputies of the assembly are elected for 3 years. The recent adoption of Bitcoin has propelled to the forefront of the global stage

The question of currency.

The national currency of El Salvador has been the US dollar since 2001. The US dollar notably replaced the Salvadoran colon, the country’s national currency between 1892 and 2001. The adoption of the dollar as the national currency has changed many monetary perspectives in the country.

Using the dollar as a national currency has two major consequences for an economy like that of El Salvador:

  • First, the use of the dollar allows El Salvador to retain its purchasing power to continue imports from the United States. The absence of a risk of collapse of the national currency allows the country to benefit from the stability of the American economy and an attractiveness for the export of its products.
  • Second, the use of the dollar as a national currency can pose serious limitations. El Salvador is first of all very dependent on the economic development of the United States. Then, the use of the dollar poses a problem of overvaluation of the currency. Indeed, the difference in economic performance between the United States and El Salvador causes an overvaluation of the dollar compared to the Salvadorian economy. This results in deflationary pressure on prices, which we have seen since the adoption of the dollar as the national currency.

In addition, the fact that the equivalent of a third of the population of El Salvador resides in the United States implies the presence of significant remittances. According to the Central Reserve Bank of El Salvador  , the total amount of transactions that have arrived in El Salvador (caregivers of immigrants to the United States) amounts to almost $ 6 billion, which is very significant. In fact, we can deduce that aid from the United States represents the equivalent of 22% of El Salvador’s GDP. It is obvious that the question of currency has a lot to do with it.

The question of international trade.

After a large deficit in the balance of payments after the 2008 crisis, El Salvador is now seeing its situation improving. El Salvador’s balance of inward and outward capital flows rose to +130 million dollars (surplus of 0.5% of GDP).

On the other hand, the trade balance, that is to say the difference between exports and imports, is structurally in deficit. The country mainly exports clothing and agricultural products, including coffee. But at the same time, the country imports a lot of consumer products and raw materials. In 2020, the trade balance was in deficit of 18.4% of GDP, or nearly $ 5 billion. The role of aid via Salvadoran emigrants in the United States thus remains a highly strategic economic stake for the country. Indeed, American aid makes it possible to close the trade deficit, thus generating a globally stable balance of payments, even in surplus.

ESTIMATE THE GAINS AND RISKS FOR EL SALVADOR.

Adoption of Bitcoin.

Nayib Bukele in particular specified that the objective of such a decision is “to allow financial inclusion to thousands of people who are outside the legal economy” . Indeed, according to data collected by the President, nearly ”  70% of the population does not have a bank account and works in the informal economy”. However, major opposition groups remain within the population, mainly fearing the high volatility of Bitcoin.

To be able to launch Bitcoin as a national currency, the President has planned to deploy a set of “chivo” distributors, in order to be able to exchange his bitcoins for dollars anywhere in the country. Chivo is the portfolio of El Salvador. Thus, on September 7, 2021, the President of El Salvador declared that the state held 550 Bitcoins, the equivalent of nearly 24 million euros just before the flash crash that followed.

Estimate the advantages and disadvantages.

An increase in remittances by Salvadorans in the United States would thus cause substantial gains, in particular in the event of a rise in Bitcoin. An average increase of 10% of Bitcoins held by resident Salvadorans could thus bring the country up to 1.1 point of GDP per year, considering that 50% of aid is paid in Bitcoins and kept for at least one year. Conversely, a drop of 10% would impact the national income in the same proportion. In addition, we do not count here the positive or negative impact of Bitcoin variations on internal payments.

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However, major drawbacks remain. As explained in our previous publications, Bitcoin concentrates an extreme volatility of its variations.

We consider the following parameters here, with a very strong diffusion of Bitcoin in the economy: 50% of transfers from the United States are made in Bitcoins, 25% of payments in the territory are made in Bitcoins. In addition, we calculate from the Inflation-GDP correlation for El Salvador the probable impact of the price variation on the GDP (correlation of + 60% over 15 and 20 years).

This model obviously does not correspond to a possible reality, but does inform us well about the nature of the risk and the possible gains of a strong adoption of Bitcoin in El Salvador. The balance of additional or lower growth generated by variations in Bitcoin allows us to succeed in our reasoning. Paradoxically, we observe that a Bitcoin following a too rapid rise would limit economic growth in El Salvador. Conversely, a measured decline Bitcoin would promote economic flexibility, but the risk of a stagflation crisis would become very significant if the fall in Bitcoin became large.

Conclusion

In short, the choice of El Salvador to adopt Bitcoin as its national currency is not an unreasonable choice, but a strategic one. El Salvador can thus succeed in boosting an essential element of its balance of payments (aid from the United States). In addition, the adoption of cryptocurrency would increase the overall speed of trade in the country. Nevertheless, a scenario modeled from a strong democratization of Bitcoin in the country shows the need for a certain stability of the currency. Indeed, strong annual variations in Bitcoin would lead, in the event of strong democratization, to crises of stagflation or repeated depression. However, structurally coupled to the dollar, Bitcoin can therefore remain a positive calculation for the country.

The shipping giant Amazon wants to make the delivery process more secure with Password

By
Edmund Hurtt
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0

The shipping giant Amazon wants to make the delivery process more secure. From now on, a one-time password is required for the delivery of parcels, which is requested by the parcel carrier.

• Amazon introduces password for parcel deliveries
• Password only for more expensive deliveries 
• In addition: Test of new express delivery

One-time password for Amazon deliveries

For more expensive deliveries, Amazon wants to design the shipping process a little differently with immediate effect in order to ensure more security when delivering parcels, as GIGA reports. If the delivery is carried out by an Amazon driver, he will need a password specially issued for the delivery in question. More precisely, it is a six-digit code that the recipient receives from Amazon during shipping. Alternatively, the code can also be viewed via the “My Orders” menu on your own Amazon account. In order to be able to receive the parcel, the customer has to read the one-time password out to the deliverer when it is handed over, who then cross-checks the code using his Amazon delivery app, as PC-Welt explains. (Also Read: Will Google remove the snapshot feature?)

Password only when ordering valuable items

This password query is only required for larger deliveries with a high order value. For small deliveries, Amazon will not use code authentication in the future either. Amazon has not disclosed exactly where the value limit is. In addition, the password is only used if the delivery person is an Amazon parcel carrier. For this reason, other shipping services such as DHL and Hermes do not require a password to receive parcels.

If you want to have your parcel received by a third person, the one-time password can also be passed on to neighbors or friends, for example. However, Amazon warns its customers not to give the code to the driver over the phone. According to Computer Bild, this is due to the fact that the password method is only used when ordering expensive items. (Must Read: Bitcoin (BTC) Price Forecast: Week ends in the red)

Amazon is testing new express delivery

In addition to password-based delivery, Amazon is also testing a new express delivery service, as reported by GIGA. Unlike Amazon Evening Express, this does not guarantee delivery on the same day, but it does provide specific information about the planned delivery of the parcel. As a customer, you are told that the delivery will arrive “by 7 pm today” or “by 12 pm tomorrow”. Amazon does not currently offer this option across the board. According to Computer Bild, however, they are continuously working on innovations to offer customers more convenience and a variety of ways in which they can receive their deliveries. (More News: Bitcoin (BTC) requires more precise regulation, says Cathie Wood, director of Ark Invest)

Bitcoin (BTC) Price Forecast: Week ends in the red

By
CT Forecast (Staff Writer)
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0

Since the rejection of $ 53,000 at the start of the week and the fall that followed, the market has struggled to recover from the flash crash and the bulls are kept their heads under water while the bears maintain the ascendancy. This Sunday, September 12, 2021, Bitcoin (BTC) once again passed an important milestone by closing its daily candle above the support level of the $ 46,000 area after hitting $ 44,742 on Binance at the lowest of the day. Buyers absolutely need to maintain this critical support for this new week.

Weekly closing under the sign of the bears

This week, the day that was supposed to be a bright day for Bitcoin (BTC) with its adoption as legal tender in El Salvador, was marked by the largest market price capitulation since May. 

Cryptocurrency’s worst day in four months was marked by its $ 330 billion in market capitalization soaring in just half a day. 

Since last Tuesday’s flash crash in which Bitcoin (BTC) lost more than $ 10,000 in a matter of hours, the price of virtual currency has remained stable, placing itself in the area below crucial moving average support at 200 days.

After falling from the $ 53,000 area to $ 42,843 on Binance, Bitcoin (BTC) immediately rebounded to its critical low area before consolidating around the 200-day average.

A range followed throughout the week between the $ 44,000 support and the $ 47,000 that the cryptocurrency failed to break.

This Sunday, September 12, 2021, Bitcoin (BTC) closes its last day of the week just above the 200-day moving average at $ 46,025 on Binance. The latest attempt by buyers this week to try to regain control after several days of bearish dominance.

However, the weekly close remains totally under the sign of the bears with a fall of more than 11% since the opening of the candle. Becoming the most bearish weekly candle since the market fell in May.


What to expect for September 13, 2021?

If Bitcoin (BTC) manages to maintain its course around $ 46,000 and hold its position above the 200-day moving average for the daily close of September 13, that could be the end of this correction and a probable retest of the $ 47,000 area which, if conquered, will begin the recovery of $ 50,000.

Conversely, if the bulls fail to defend their conquest of $ 46,000 and the cryptocurrency is rejected from this level, we risk revisiting the $ 44,000, then the $ 43,000 if this first support does not hold.

If a more severe correction from that point takes place this week, it could drop us all the way down to $ 38,000, which is the area of ​​the 61.8% Fibonacci retracement level from Bitcoin’s all-time high (BTC ).

Record: Bitcoin (BTC) reserve on exchanges at its lowest!

The accumulation of whales continues. The reserve of BTC on all exchanges reaches a new record, it is at its lowest for 3 years ! A new sign showing that the market is mostly bullish and that the price should soon show it in the medium term.

On-chain data continues to show that whales are accumulating steadily, long-term holders, and those holding older BTCs continue to accumulate, showing no signs of leaking from the market.

Again, the group that sold are those who had held BTC for 3-6 months and panicked the decline. A group that had accumulated BTC between 50,000 and the peak of Bitcoin.

For Bitcoin miners (BTC), on-chain data shows a return to accumulation after minimal sell-off during liquidation. The total outflows of miners to exchanges for sale have declined dramatically, while the supply of miners has increased.

So, the data continues to favor the bulls, strongly suggesting that this is a small jerk on the way for prices to rise in the coming months.

This week has been the most eventful since mid-May, marking the sudden return of volatility via a crashing fall in Bitcoin (BTC). A decline that represents a market correction one would expect after almost 7 weeks of uptrend. However, if one relies on the on-chain data, the elements remain in favor of the continuation to the rise after this momentary halt. The short-term chart may look scary, but the general trend undoubtedly suggests a rise in price in the weeks and months to come.

Bitcoin price prediction for September 2021.

In the beginning price at 47160 Dollars. Maximum price $59699, minimum price $46361. The average for the month $51877. Bitcoin price forecast at the end of the month $54289, change for September 15.1%.

BTC to USD predictions for October 2021.

In the beginning price at 54289 Dollars. Maximum price $63155, minimum price $48479. The average for the month $56237. Bitcoin price forecast at the end of the month $59023, change for October 8.7%.

Bitcoin price prediction for November 2021.

In the beginning price at 59023 Dollars. Maximum price $71930, minimum price $59023. The average for the month $64300. Bitcoin price forecast at the end of the month $67224, change for November 13.9%.

BTC to USD predictions for December 2021.

In the beginning price at 67224 Dollars. Maximum price $83439, minimum price $67224. The average for the month $73967. Bitcoin price forecast at the end of the month $77980, change for December 16.0%.

Bitcoin price prediction for January 2022.

In the beginning price at 77980 Dollars. Maximum price $78434, minimum price $68172. The average for the month $74472. Bitcoin price forecast at the end of the month $73303, change for January -6.0%.

What Your Parents Never Told You About Ultimate Guide to Travel in The USA

By
Ismael Brooks
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0
What Your Parents Never Told You About Ultimate Guide to Travel in The USA
What Your Parents Never Told You About Ultimate Guide to Travel in The USA

As we continue to progress through the Covid-19 pandemic, more and more people are beginning to travel again. Being inside for the majority of 2020 and a lot of 2021, many around the US are ready to be out and about and experience life again. It was hard to stay so distant from friends and loved ones for over a year, so now many are planning trips with groups. While it has become more safe with the vaccine continuing to aid in the pandemic, it is also still important to think ahead before traveling. Things have gotten better in terms of virus cases, but we are not totally back to normal, and that applies to vacationing too. There are some important tips to remember if you plan on traveling this year. So if you are ready to learn more about how to safely have fun while on vacation, read on to discover your ultimate guide to travel in the US in 2021.  (Also Read: That’s why Amazon doesn’t have to win the streaming battle)

Plan Ahead

One of the most important things to remember for travel in 2021 is to plan ahead. It used to be the norm to just choose a location and hit the road the same day. But it is better to think ahead in the time we are in, so that you are prepared for whatever may lay ahead. This will ensure that you and your group have the most fun possible, and can feel as close to a normal vacation as possible.

Read Up on Local Regulations

During the pandemic, many states created and are still enforcing their own laws regarding Covid-19 procedures. This even applies to cities within the same state, as some cities just a few towns over may require different precautions than another. So if you are traveling out of state, or even to a different region within your state, check out the local laws so that you are prepared to possibly mask up and socially distance yourself.

Will Google remove the snapshot feature?

By
Stella Mason
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0

The snapshot function in the Google app and the Google Assistant gives users an overview of personal information relating to their day. For some users, the snapshot buttons have now disappeared, leading to speculation as to whether the function will be removed.

• Snapshot: Newsfeed function about personal content
• Reaching this function is too cumbersome for some
• Snapshot buttons disappear for some users

Snapshot function

Snapshot is a newsfeed function that can be used both in the Google app and in the Google Assistant. However, it is not about external news from the Internet, but about a clear presentation of your own day, i.e. which appointments are due today, what is the weather like today or which things need to be done urgently today.

Too hidden to be used?

Initially, some users complained that the app could not be personalized. In the beginning, as SmartDroid reports, it was not possible to set permanent settings about which information should be displayed in the snapshot newsfeed. In 2020 the update came to personalize the information appearing in Snapshot. It is also said that Google has moved the Discover Feed function to the fore instead of Snapshot. In contrast to Snapshot, the Discover Feed function only shows content from the Internet and no personal information. In addition, the function is too difficult to achieve, according to SmartDroid. To do this, you first have to open the Discover Feed, the Google Assistant or the Google App and then press the Snapshot button.

Also Read:

Snapshot has disappeared from some users

For many, the question arises whether the snapshot function will be removed from Google. For some users, the buttons that lead to the snapshot function have disappeared from both the Google app and the Google Assistant, according to SmartDroid. It is not yet known whether this is a bug or a test phase. In any case, there is no official statement from Google yet. It remains to be seen whether the buttons that lead to the function come back or the function is otherwise integrated or even removed.

Do you think Solana Cryptocurrency (SOL) can be a “Ethereum Killer”

By
Naomi Glover
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0

The Solana cryptocurrency (SOL) has seen its value increased considerably. She has just hit an all-time high since a comedian and TV host changed her profile picture on Twitter . Is it a coincidence? Not really ! Added to this is the fact that NFTs are increasingly popular with players in the cryptocurrency sector.

Steve Harvey contributes to the growth of Solana (SOL)

SOL is one of the hottest cryptocurrencies in recent times. Its value has risen markedly from a price of around $ 37 a month ago to an all-time high of nearly $ 197 today, according to data from CoinGecko.

Several situations have contributed to the increase in the value of cryptocurrency . Comedian and television host Steve Harvey has also participated in this growth, notably thanks to the NFT ‘ ‘ Solana Summer ”.

Today, the famous animator changed his Twitter profile picture to that of an NFT from the Solana Monkey Business collection . This is not the first time that he has taken a close interest in NFTs or the world of cryptocurrency. Last May, he joined forces with the Rarible marketplace in order to sell his own NFTs for the benefit of a charity run by his Steve and Marjorie Harvey Foundation.

The Ethereum blockchain at the heart of attention

The NFT Solana Monkey Business collection consists of 5000 randomly generated monkey images . It should be noted that collections of profile photos like CryptoPunks and the Bored Ape Yacht Club are in great demand lately.

CryptoPunks and Bored Apes are NFTs based on the Ethereum blockchain which is by far the most widely used platform for designing NFTs. As proof, in August, the OpenSea marketplace recorded an NFT trading volume of more than $ 3.4 billion on Ethereum and the majority of the most used NFT projects are based on this blockchain.

And the ‘ Ethereum killer’ makes an appearance

Even though Ethereum (ETH) is a cryptocurrency that has gained tremendous popularity in recent times, it is far from the only digital asset that has enjoyed a buzz. Indeed, Solana (SOL) is establishing itself more and more as one of its competitors, which makes experts say that this asset is an “  Ethereum killer  ”. Its main advantage is that its blockchain is more energy efficient than Ethereum . In addition, it is able to process a greater volume of transactions, and this, with reduced fees.

According to data released by Solanalysis , NFT Collector’s Coins on Solana (SOL) have generated more than $ 94 million in the past week. The Solana Monkey Business collection reached a volume of $ 6.2 million in just 7 days, placing it third on the list of hottest projects.

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In our introduction, we mentioned that famous host Steve Harvey has changed his profile picture in favor of the Solana cryptocurrency (SOL). He is not the only one to have done it this way. Rapper and YouTuber KSI has also changed the avatar of his Twitter account . He used a Solana Monkey Business NFT .

The Solana cryptocurrency (SOL) is gaining more and more popularity thanks to the intervention of several players in the world of finance and other fields. Personalities like Steve Harvey are trying as best they can to bring their contribution to the building.

Binance to support Cardano smart contract upgrade and its Alonzo hard fork

By
Edmund Hurtt
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0

The Binance platform has announced its support for the upgrade of Cardano’s smart contract functionality and the Alonzo hard fork, scheduled for the night of September 12-13. All Cardano deposits and withdrawals (ADA) will be halted during the event, however users will be able to exchange the cryptocurrency as part of transaction operations.

Action plan when upgrading

Binance, the world’s largest cryptocurrency exchange by daily trading volume, intends to support the upgrade of Cardano’s smart contracts (ADA) and its Alonzo hard fork, according to an announcement posted on the official website of Binance. On September 12, around 9:44 p.m. GMT, the exchange will suspend ADA withdrawals and deposits.

It should be noted that ADA trading will continue throughout the hard fork. This event will not result in the creation of new tokens, Binance reports. ADA users are urged to ensure that they complete deposit processing before the time of the aforementioned interruption, writes crypto-news-flash.com.

Then Binance will reopen ADA deposits and withdrawals “as soon as the upgraded network is deemed stable.” As soon as this happens, ADA holders will be notified.

Upgrading Cardano

Since the middle of the year, the third-generation blockchain project has started to gradually integrate parts of Alonzo’s updates. Ultimately, their goal was to bring smart contract functionality into the Cardano network. They would also signify a step forward compared to the Goguen era which made it possible to create decentralized applications (DApps) on the blockchain. (Also Read:Vitalik Buterin proposes to transfer NFT from Ethereum to L2 solution)

First, blockchain operators IOHK launched Alonzo Blue, which offered smart contracts to a limited number of tech insiders. Then Alonzo White and Alonzo Purple followed. In addition to the ability to create DeFi, the updates made it possible to issue ERC-20 tokens on the Cardano blockchain.

Despite all the advances, previous delays in implementing its plans are shaking investor confidence in Cardano. Some time ago, part of the crypto community bet that Cardano’s planned launch of smart contracts would never happen. It seems that these doubts are now dispelled, as ADA currently ranks third among cryptocurrencies in terms of market capitalization. Cardano has even been dubbed the “Ethereum Killer” as the project plans to have similar capabilities to the Ethereum network soon.

Learn more about ADA

We have previously reported that Cardano has partnered with Coinfirm to perform anti-money laundering related analysis. Weiss Crypto responded that this action would turn the network into a censored area and go against the whole meaning of decentralization. Cardano founder Charles Hoskinson, however, insisted the move was necessary to further the massive spread of ADA. (Read More: Solana (SOL) Price Prediction: Ripple left behind, Solana in the fast lane)

On September 7, like all cryptocurrencies, ADA saw a price drop of $ 2.3. Now the currency is trying to regain its position and at the time of writing this article is trading at $ 2.5.

Whether it’s worth buying Cardano now or waiting for the upgrade is up to you to decide, but you should carefully study the news to which cryptocurrencies are reacting before investing.

Vitalik Buterin proposes to transfer NFT from Ethereum to L2 solution

By
Dave Triplett
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0

Cryptomillionaire and one of Ethereum (ETH) co-founders Vitalik Buterin shared on Twitter the idea of ​​moving the non-fungible token (NFT) ecosystem to a secondary Layer 2 (L2) protocol. According to him, this should help reduce gas consumption and commissions on the Ethereum mainnet.

As Solana strives to achieve transaction speeds and fees hitherto inaccessible to the second most capitalized cryptocurrency, one of ETH’s co-founders, Vitalik Buterin, struggles to find a capable solution, at least to long term, to make the network that he created function properly.

Layer 2 to reduce costs

According to Buterin, an organized transfer of the NFT ecosystem to Layer 2 would significantly reduce the commission in Ethereum. 

L2 is a secondary protocol built on top of an existing blockchain system. To put it simply, we are talking about a mechanism for scaling the Ethereum network that was not originally built into its structure. (Also Read: Solana (SOL) Price Prediction: Ripple left behind, Solana in the fast lane)

“We need to scale NFT to the L2 ecosystem to reduce costs. However, to do it “correctly” requires good standards of portability between platforms, so that the ecosystem is not tied to the particular L2, ” Buterin said.

Significant disadvantages 

To remedy the situation, according to the ETH co-founder, the transition from NFT to a single platform needs to be coordinated, but even this solution has significant drawbacks:

“All suitable Ethereum Virtual Machine (EVM) platforms have backdoors and centralized sequence management. It is therefore too risky to link an entire ecosystem of non-fungible tokens to just one of these platforms.

No part of the NFT ecosystem, or even the entire NFT ecosystem, is a closed world; they will have to interact with other parts of Ethereum. ”

In an attempt to find a solution to the problem and make Ethereum work, Vitalik Buterin wrote an article in which he shared his already ready solutions with the community. (Also Read: After El Salvador, Ukraine to legalize Bitcoin (BTC), price forecast 2021)

Users quickly joined the conversation and even offered the crypto billionaire their own solutions to network problems. So it is possible that very soon we will see another big Ethereum leap. Both technically and in terms of price.

B21 partners with Yield Guild Games to create Limited Edition Crypto Cards for their early supporters

By
Naomi Glover
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0

B21, a global crypto investment platform today announced a partnership with Yield Guild Games (YGG), a decentralized gaming startup to give crypto cards exclusively to YGG Founder’s Coin owners.

The YGG Founders’ Coin are 300 exclusive NFTs which were given to the earliest supporters of the project. According to Gabby Dizon, co-founder of YGG, “The mission of YGG is simple, to onboard millions of players from around the world into the “play-to-earn” revolution.” 

B21 supports YGG in their vision of becoming the gateway to the metaverse and wanted to reward the early supporters with a FREE Crypto Credit Card! B21 airdropped 300 Founder’s Card NFTs on Polygon chain, to these early supporters which can be redeemed against a special YGG Founder’s Card. We chose Polygon network for the airdrop to give a smooth experience to the users.

These founder cards are secured credit cards that allow users to cash-out their crypto on their everyday spends and subscribe to services like Netflix, Spotify, etc.

“I’ve been personally using the B21 crypto card for the last couple of weeks and have been very impressed at how I can spend crypto. We are excited to partner with B21 for giving Founder’s Card so our community can spend their Crypto without any hassle across the world. The YGG Founder’s Card is just the first step for us to provide utility and cool airdrops to the Founder’s Coins holders”, Gabby Dizon, co-founder of Yield Guild Games.

Being the ONLY card provider in the Asian market,  B21 has witnessed huge demand for their crypto cards. B21 creates a frictionless user experience by enabling users to top-up their card directly from their B21 account. It’s as simple as transferring crypto  from one wallet to another.

Speaking about the partnership, Nitin Agarwal, co-founder and CEO of B21, said,

“The gaming audience constitutes a large part of the crypto ecosystem and is more enthusiastic to adopt cryptos. With this partnership, we want to give this community an easy way to spend their cryptos. The YGG team has built a great product and this is a testament to them being backed by one of the major investors.  We support their community completely and believe this partnership is just the beginning of something great for our communities.”

About YGG:

YGG is a play-to-earn gaming guild, bringing players together to earn via blockchain-based economies. The decentralized gaming startup recently raised $4.6 million in a funding round led by venture capital firm Andreessen Horowitz (a16z) to expand the play-to-earn gaming and its community of gamers.

About B21:

B21 is a mobile-first platform that provides an easy way to invest, earn, and spend crypto. Using the B21 platform, it is simple to create your personal portfolio of cryptos and stake with just a few clicks. With a variety of features and options to expand on the possibilities available through cryptocurrency usage, B21 is working on setting a new standard for investing, earning, and spending cryptocurrencies.

Solana (SOL) Price Prediction: Ripple left behind, Solana in the fast lane

By
CT Forecast (Staff Writer)
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0

While the majority of the crypto market is recovering from the recent setback, Solana is once again booming with a fireworks display. (Also Read: Solana (SOL) Price Prediction: Why 500 dollars by 2022?)

After the stormy swell in the crypto ocean, the market situation seems to be gradually calming down. Bitcoin, for example, was able to stop its downward trend for the time being after the digital store of value had previously suffered losses of up to 15 percent. At the time of going to press, the crypto currency is trading up at $ 46,258. Stocks for 14,534% profit? If you had bought Sartorius in 2009, you would have 1,017,380 euros in your depot today! Now top analyst Gelfarth reveals: These 3 stocks will be the new Sartorius, so you have another chance at these profits! You can find out which stocks are involved in the free special report. (Also Read: Salvador bought 400 Bitcoin (BTC) and is ready to legalize cryptocurrency , price forecast and more)

Bitcoin price in the week view

A somewhat more positive picture emerges in the altcoin sector. The ten most valuable cryptocurrencies in terms of market capitalization all recorded gains of between 3.8 and 8.37 percent. The absolute winner of the day goes by the name of Solana. Once again, it must be said. Because the course of the self-proclaimed Ethereum competitor has had an impressive rally since the crash. In the past 24 hours, the SOL course has increased by a full 30 percent. A few hours ago, the high-speed blockchain project even hit a new all-time high at $ 214.96. At press time, Solana is trading at $ 206.30.

Solana course over the course of the week

The upward journey from Solana has been going on for over a month. While the SOL price was just under 40 US dollars at the beginning of August, the value of the cryptocurrency has risen by 435 percent since then. With the continuous increase, the Ethereum competitor gradually managed to move up more and more in the top 10 ranking. With the recent outbreak, Solana has now displaced the “bank coin” Ripple from sixth place. There is now a nearly $ 10 billion discrepancy between SOL and XRP’s market capitalization. Incidentally, there is a similar lead over positions five and four. For this, however, another course fireworks of the same extent would be necessary.

Lido staking protocol now also supports Solana

The basis for the ongoing price increases of the Ethereum competitor are based on a series of events that repeatedly caused new outbreaks. For example, Solana grew by 40 percent in mid-August when the NFT project of the “Degenerate Apes Academy” was launched. It was a digital map collection, similar to the CryptoKitties, which users could create themselves for a fee of 6 SOL. Apart from that, the DeFi ecosystem in the Solana network has been booming in the past few weeks and has enjoyed increasing investment interest. The headlines were made by the 70 million US dollar funding from the DeFi exchange “MangoMarkets”, which is based on Solana.

In addition, there is now more news. Because as the US medium The Block reports , the staking protocol Lido Finance is said to have given its users the opportunity to stake Solana in addition to Ethereum and Terra. For the inclusion of their SOL, users receive a synthetic equivalent in the form of “stSol”, which can then be used for further return options within the decentralized finance.

What is Solana (SOL)

Solana is a cryptocurrency based on blockchain technology that Anatoly Yakovenko founded in 2017. It seeks to provide solutions to the traditional problems that the Bitcoin and Ethereum blockchain are facing in today’s time.

Furthermore, the Solana network uses proof of history consensus. This technology enables the network to create records that can be used to track and prove historical events. 

The Solana network has its own native cryptocurrency: SOL token. As a result, the network uses this token as a reward to all its community members on the platform. For all the interested traders and investors, the token is available at cryptocurrency exchanges such as Binance, OKEx, and VCC Exchange to name a few.

Regarding the Solana technology team, the crew is backed with professional experience from top organizations around the world. These organizations include Apple, Qualcomm, Intel, Google, Microsoft, Twitter, Dropbox, and more. With this, we can say that Solana is really competitive in creating groundbreaking technologies.

Solana (SOL) Market Position

Solana is one of the most talked-about digital assets in the crypto world lately. This is because of the extraordinary performance that the crypto has delivered in the past months of the year. For this reason, the crypto was able to maintain its position along with top cryptocurrencies in CoinGecko.

To be specific, crypto has a market capitalization of over $54,066,327,191 with a 24-hour trading volume of almost $9,164,166,672. This is a market position that could attract investors around the world.

Now that you already have an idea about what SOL cryptocurrency is, do you think SOL is a good investment this year? If you are already excited to know, come, and together let us check this SOL price analysis and price prediction article.

Conclusion

SOL has a bright future ahead of it in 2021. With the ongoing developments happening within the SOL ecosystem, as well as in the overall crypto market, we may see SOL reach new heights.

Bullish SOL price prediction 2021 is $379. As said above, it may even reach $400 if investors have decided that SOL is a good investment in 2021, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

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