๐Ÿš€El Salvador Is Now A Bitcoin Hodler

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๐Ÿš€El Salvador Is Now A Bitcoin Hodler

Another day, another dollar, Geckos!

 

Nayib Bukele, President of El Salvador, stated that his government had purchased its first 200 Bitcoin (BTC) ahead of the Sept. 7 implementation of a new law recognizing Bitcoin as legal tender.


The BTC acquisition, worth around $10.36 million, is part of a new $150 million Bitcoin fund passed by El Salvador's Congress last week.


"Our brokers will be buying a lot more as the deadline approaches," Bukele added, referring to the Sept. 7 due date to implement the new legislation fully.


In today's news, FTX announces native NFT marketplace, Ethereum L2 scaling solutions TVL crosses $1 billion, and DeFi Ted announces the shut down of Cover and Ruler.


Read on!


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24h Hot Searches Worldwide ๐Ÿ‘€

  • Solana                                 (+26.6%)

  • Fantom                               (+24.9%)

  • Sunny Agregator              (+159.7%)

  • Solanium                             (+0.1%)

  • Star Atlas                            (-14.4%)

  • Binance Coin                      (-4.9%)

  • RioDeFi                               (+16.8%)

Sam Wants More NFT

 

Major cryptocurrency exchange FTX has announced its new native NFT marketplace amid the sector's parabolic expansion.


Currently, the NFT platform is only available to users in the United States to mint and trade NFTs across the Ethereum and Solana (SOL) blockchains.


Deposits and withdrawals are also anticipated to be available in the coming weeks, allowing users to deposit external NFTs onto the platform.

 

Cointelegraph

Ethereum L2 Hits $1B TVL

 

According to L2 ecosystem tracker L2Beat, the second-layer scaling solutions on Ethereum (ETH) are booming, with over $1 billion locked up in scaling protocols.


Scaling solutions allow decentralized apps (dapps) to minimize network congestion by utilizing a variety of technologies.


Half of the top 10 protocols by value locked are based on ZK-rollups, with a total of $547.56 million locked.

 

Decrypt

Cover and Ruler Shutting Down

 

"DeFi Ted," the lead contributor to the Cover (COVER) and Ruler (RULER) protocol, announced that the protocol would be shut down shortly, citing a mass developer exit as the primary cause.


The Ethereum-based DeFi insurance marketplace allowed users to stake Cover tokens as collateral and receive insurance reimbursements if their assets in other DeFi protocols were hacked or rug-pulled.


The protocol has pledged to distribute the remaining treasury assets to token holders and has urged all token holders to withdraw their holdings as soon as possible.

 

Cointelegraph


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Derivatives


 Derivatives are financial instruments whose value is derived from an underlying asset (e.g. Crude Oil, Gold, Bitcoin etc). Compared to spot markets where the underlying asset changes ownership, in derivatives markets, traders trade contracts rather than the actual assets.

 

Learn about other Crypto terms here

NFT of the Day ๐Ÿ–ผ️

Unholy Communion

Artist: Swampbaron

Gallery: Foundation

 

almighty ///godhead\\\grant us passage through the deprecated halls of your splendor!

 

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