Crypto Weekly News: Bullish Market, Crypto Adoption & More!!
The first one is current market conditions. The second one is crypto adoption by companies and the third one is crypto adoption by countries so starting with the current market conditions. The month of august has been an incredible month for us frequent investors bitcoin raised approximately 30 percent in the last month and right now is fighting to surpass the 50k dollars bear in mind, guys that im recording this on friday, so probably or hopefully by the time You watch this. Video bitcoin will have surpassed the 50k and we will have established a new floor now here at vidi ventures. We dont want to see the trends, but we want to understand why these strengths are happening and what does this mean? So what were seeing is that bitcoin reserves are trending down, actually coinbase bitcoin reserves dropped to the lowest level since december 2017.. This basically means that bitcoin wells see that the market is recovering and may start a new bull run and they are taking their bitcoins from centralized exchanges and keeping them in their wallets where they are more secure. But bitcoin is not the only coin that has been increasing during this month. Actually weve seen a higher run in alcons ethereum increased approximately 50 percent in the last month, and other coins such as cardano and solan, have raised even more. I mean solana even raised 300 percent from its lows like from 30 to 120. This is incredible gains for those that were invested in solana.
The thing is that this is happening, because institutions are actually investing into outcomes. They are not only investing in bitcoin, but actually they are going into ethereum solana, cardano and light fun, and these are extremely bullish. News, like we have two big movements here: bitcoin wells, moving out of exchanges and investment funds getting into outcomes. This means that these people that have so much information they are actually seeing that the market is trending upwards and they think that their money is going to be better invested into these coins than in dollars. Finally, regarding the market weve seen that the volume in exchanges has broken the one trillion dollars for the first time since may, this is also big news, as it means that more people more transactions are happening in the market. All these news are a clear sign of our recovery of the market and the setting of a new bullish trend. However, we never know what will actually happen. Maybe tomorrow there could be this huge drop and all this analysis would mean nothing, but here at block dispensers, we see the big picture. We know that we are so early and you guys watching this video. You are early too, you are invested into not only infrastructures, but actually the decentralized applications that are being built on these infrastructures. This is so early like investment funds are not even invested there. So just imagine what will happen once these funds start pouring money into these projects like the games, we will see we cant even imagine so bear this in mind guys, even if tomorrow theres a huge drop, dont see it as a risk or bad news, but see It as an opportunity, because long term, the bully strength is intact in five ten years.
I can assure you you will be way way better than you are now, even if, today, the market drops 40, 50 or 60. So now lets go into the news regarding big corporations getting into crypto. The first news we want to talk about is paypal launching its crypto trading service in the uk. As you may remember, paypal already launched this service in the u.s in october last year, but from now on, the uk people will be able to buy, sell and hold crypto through paypal. Now this is a huge step as the company, its expanding its trip to business. To other countries, and from now on, the people from the uk will be able to use coins such as bitcoin, ethereum, litecoin and bitcoin cash, with the great advantage that the companies that they are paying to, they wont even realize they are being paid with cryptos. Basically, what will happen here is that paypal we lack as an intermediary as they will receive the crypto coins and they will pay the merchants with a stable coins with fiat. Now this is another step for paypal getting into the blockchain space. We all know that people is one of the most prominent companies in the crypto space, as they already have their specialized branch in order to invest in crypto startups and they even acquired recently the crypto security firm curve, another big company that has been reaching the headlines In newspapers is visa, especially as in the last week of august they bought the nft crypto pack, as we can see here in the cnbc visa jumps into the nfp craze buying a crypto bank for 150 000.
But the thing is that maybe this is not that crazy. What most people dont know or didnt realize is that visa also released their white paper in where they show how they can help their current business partners get into the nft space how they can bring? The current establishments into the blockchain space through nfps, so what visa is doing here, is getting recognition in both the blockchain, the decentralized and decentralized space, so maybe its not that crazy, maybe actually visa, is doing a really really good marketing strategy here. Finally, we have twitter that, on the 2nd of september mentioned that maybe bitcoin will be available as a payment option for streamers, so people will be able to pay with the bitcoin to their favorite twitter stars, and this is a another trend that that seems to be Peaking traction, and even though twitter may be the first, we could see this happen in many many other platforms like this, such as patreon, for example. What were basically seeing here is that more and more traditional companies, although they are more technological companies, are getting into the crypto space, because this strength is unstoppable. Now. Finally, regarding countrys adoption, we have two big news this week, the first one regarding cuba, as from now on cuba, will recognize and regulate cryptocurrency as since the trump administration, and also now violent increased pressure on cubas government regarding embargo rules, so its become harder for the Cuban citizens to actually use us dollars for purchases thats.
Why? Right now the cuban government is experimenting with cryptocurrencies, as crypto savvy coupons could use this money to evade government regulations. This way cuba joins in the list of latin american countries, including paraguay, mexico and panama, that are starting to experiment with crypto, and the second huge news that we have is that el salvador, the legislative assembly of el salvador, passed the legislation to create a 150 million Dollar, bitcoin trust that will support the development of crypto infrastructure and services across the country and will help the citizens of the country to convert their bitcoin into united states dollars and vice versa. This comes just one week before the bitcoin law is said to take effect in the country. This just shows that more and more countries are getting into freedom, and this is an unstoppable trend that will keep gaining traction. Finally, even though no news i want to share one last bit of information that me as a blockchain freak, i find extremely interesting so recently the lloyd showed their 2021 global blockchain survey and its a really really interesting pdf that you will be able to download here. I will actually provide the link in the description down below where you can actually see uh how this trend is evolving and how the lloyd is saying that, basically, all companies from the old system should meet trade and start integrating blockchain into their infrastructure like they have To evolve into this this new world, i i thought like this was a very, very interesting survey, so i would suggest you guys to to check it out and well, if youd like this weekly recap, please guys, let us know in the comments remember to subscribe to The channel and follow us on telegram and lets see each other.