RIYADH: Bitcoin continued its downward momentum on Tuesday and fell by 0.74 percent to $47,406.05 at 6:18 p.m. Riyadh time while the second most-traded cryptocurrency, Ether traded at $3,396.13, up by 7.05 percent, according to data from CoinDesk.
Meanwhile, Nigeria joined the ranks of many countries planning to launch their digital currencies. The country’s central bank has selected Bitt Inc. as its technology partner to help create its digital currency called eNaira by the end of the year.
The new digital currency, which will complement banknotes in circulation, is expected to boost cross-border trade and financial inclusion, make transactions more efficient, and improve monetary policy, according to the regulator.
“Given the huge explosion in the use of digital payments and the rise of the digital economy, the Central Bank of Nigeria’s decision follows a clear global trend with more than 85 percent of central banks now considering embracing digital currencies,” the central bank said.
Nigel Green, CEO, and founder of deVere Group expects the already booming non-fungible tokens market to see a massive increase in volume over the next 12 months as more and more major investors begin to accumulate.
His predictions came after Visa announced its purchase of “CryptoPunk,” one of the thousands of NFT-based tokens, for nearly $150,000 worth of Ethereum, and as Marvel Entertainment begins to unveil its first official NFTs in the form of Spider-Man’s “digital figurines.”
Like in most fields, a survey has ignited the debate about gender ratio in the NFT space as well. According to the survey, men invest in cryptocurrency twice as many as women.
It also shows that women lag behind men in crypto investment rates, just as they have historically struggled to keep pace with men in more traditional investment sectors, CNBC reported.
