What’s Happening in Crypto: Ethereum’s Merge is Paying Off!

It was another pretty rough week for the market since coin prices need some love 🥺. But, on the bright side, the US Dollar also performed quite strongly. So if you had funded a USD Savings plan last week, you’d be sitting on some sweet gains right now 😋. 

Done saving? Great! Let’s check out the news from this week. 

Checking in On Ethereum 💪

One of the reasons for the Ethereum Merge was to make ETH a deflationary asset. This means that Ethereum’s developers wanted to gradually reduce the amount of the coin in circulation so that it naturally becomes more scarce 📈. 

This week, ETH finally achieved that. This means that more ETH tokens are being burned than are being created 🔥. The laws of economics state that scarcer assets tend to rise in value over time. Could this be a good time to buy ETH

A Digital Dollar Might Be Coming 💵

This week, the New York Federal Reserve announced a test program to explore a central bank digital currency (CBDC) 👏. The program will work towards testing a possible digital dollar, and it will include big names like Citibank, Mastercard, Wells Fargo, and more. 

For a long time, China has been leading the world in CBDC development. Now, the United States just might be getting ready to take that crown 🇺🇸. Interesting times ahead, people!

One Bitcoin A Day 😉

Nayib Bukele, the President of El Salvador, announced this week that his country is buying 1 BTC every day 😀. The country already has over 2,300 BTC, and they’re eating up as much as they can.

Even with the current market condition, some of the biggest crypto buyers are still committed 😤. El Salvador already made BTC legal tender, and they’re not backing down now!

Ronaldo Follows Messi’s Moves ⚽

Last week, Lionel Messi got into the NFT game by investing in Sorare – one of the most popular marketplaces. Well, Cristiano Ronaldo saw that and said, “Hold my beer 🍺.”  

This week, CR7 launched his first NFT collection. The collection is part of a multi-year partnership, and it’s launching just in time for the World Cup!  🏆

Who Bought Steve Jobs Shoes? 🤔

Speaking of NFTs, an NFT of Steve Jobs’ Birkenstocks sandals sold this week for a staggering $218,000 🤯. 

The NFT was put on auction and was expected to sell for about $80,000. It featured a digital representation of Steve’s sandals, as well as his actual footprint 🦶. Talk about attention to detail.

Disclaimer: All content in this article is general information and is not the opinion or perspective of any particular individual or entity. Nothing in the article is professional and/or financial advice. Evaluate all information properly before making decisions.


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