Cryptocurrency News Review: Week of 05/09/2021 – 05/16/2021
During this week, we were able to see how cryptocurrency gains decreased momentarily after the big gains from Bitcoin three weeks ago, followed by Ethereum’s gains, followed by Dogecoin’s gains, Ethereum’s Classic’s gains, and then the decrease. In this week, we are seeing the ADA token and Polygon increasing in value.
We are also seeing increased adoption happening through surveys allowing the cryptocurrency communities the ability to see how far cryptocurrency is going. There was a previous survey indicating that 4 in 10 of millenials were looking to use cryptocurrency in the future. In a survey this week, we are able to see that there are millions of consumers looking to use cryptocurrencies in the near future.
We saw the city of Tokyo looking to become one of the crypto capitals of the world as it is looking to allow for increased adoption of cryptocurrency. We covered the manner in which Miami and Las Vegas are among the cryptocurrency cities that can lead to greater adoption. Tokyo is a leader in innovation and technology whether this affects video games, automobiles, movies, or other social aspects. We will see if Tokyo leads innovation in the Asian sector as Seoul is also attempting to integrate cryptocurrency projects into every day life.
Writing about cities around the world, MoneyGram which is one of the money transfering services that allow individuals to send money to recipients around the world is looking to allow for cryptocurrency use. The company along with a cryptocurrency app company are looking to allow individuals to use their cryptocurrency holdings to convert to cash. This is an interesting move signifying that cryptocurrencies are affecting money transfer companies.
We were able to see the NFT market looking to possibly create video game memorabilia that can be used within other video games. We are able to see that the collectibles market whether it be art or trading cards has increased in value through NFTs on the block chain. Ethereum, Algorand, are among the different cryptocurrencies that allow for NFT’s on the block chain.
Cryptocurrency is interesting when they are voluntary. Remember to research and learn about cryptocurrency prior to investing. This is not investment advice.