#BUYtheDiP: Following the first article publlished on #Linkedin to wild applauses, and Retweet, all over the #Metaverses, Violène Vétillard from #ISFJ Paris school of Journalism, comes BAAAACK on the #ADMP Content network !
RISE OF THE PROTOCOLE !?!
Violène Vétillard: “ If the speculative bubble bursts, the price of the crypto -currency, (Also known as ‘crypto-asset’), will fall. It is therefore necessary to be reactive and follow its price closely.
Moreover,...it is the developers who decide on the number of tokens of a crypto in circulation. Satoshi Nakamoto, as per the protocol, decided to put 21 million bitcoin tokens on the market in 2009, a number that will be divided by two each year.
Currently, there are 19 million tokens on the market. The total amount of 21 millions, should be reached in 2140.
The speed of transactions
Some cryptocurrency transaction can take from 7 seconds to 16 minutes, on the Bitcoin’s Blockchain. However, there are delays that are added before a transaction is confirmed. This is because, being based on a blockchain, cryptocurrencies or crypto-assets, must be validated in each block before they can be spent.
As of 17 January 2022, bitcoin has exceeded 250,000 transactions in one day. Its global network being capable of processing 4-5 transactions per second. In addition, the revenue generated by centralized exchange platforms (Like Coinbase, CoinHouse, Binance,…) reached $23.4 billion in 2021.
According to a study by #Ipsos, by 2021, 8% of French people over 18 had invested in cryptocurrencies and 30% are considering doing so. KPMG estimates that this number could rise to around 12% by the end of 2022.
Cryptos making their way into the financial system
Since January the 1st, 2022… The cryptocurrency market has tripled in size to $3 trillion, slightly more than the valuation of the French CAC40 overall stock exchange, in November 2021.
Between them, Bitcoin and Ethereum account for 60% of the total market.
Bitcoin accounts for 42% of the total market and is worth over $1 trillion.
Ethereum accounts for 18% of the total market.
The other crypto-currencies are then estimated to be worth less than $5 billion. At the moment, a Bitcoin token (BTC) is worth about 42,000 euros, an Ethereum token (ETH) 3,000 euros and a Tether (USDT) 0.91 cents.
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A solution that attracts Emerging countries
In October 2021, C#Corner published its ranking of the countries with the most cryptocurrency holders.
Thus, India is in first place with 100 million people, the USA in second place with 27 million holders, then Russia (17 million), Niger (13 million) and Brazil with 10 million people.
It should be noted that El Salvador was the first country in the world to make Bitcoin a legal tender last September 2022.
—> The IMF does not look favourably on this initiative and recently asked the country to give it up out of concern for its integrity and financial stability.
The strong appetite for cryptocurrencies in emerging economies, can be explained by a number of factors.
Firstly, according to World Bank figures, more than 4 out of 10 adults are unbanked worldwide.
Secondly, national currencies in South America are sometimes subject to sharp devaluations or loss of value.
In Niger, the government has introduced rules that almost prohibit money exchange with foreign countries by imposing very high rates.
In Kenya, Centrafrique, Togo and Ghana many citizens have adopted Bitcoin.
Finally, the site usefultulips.org shows that over the last 7 days, transactions in Sub-Saharan Africa have exceeded those in No… (To be continued)
END.
Next week: Crypto-assets as a way of breaking out of isolation?
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Sources: cryptoast.fr / economie.gouv.fr / n26.com / La tribune / Tendance Trends / Le Monde / IG.com / forex québec / coingecko.com / futura-sciences.com /
ENJOYING THE NEW 'BEAR CYCLE' II: #CRYPTO-SAHARA CYCLE !?!