The Crypto Rollercoaster
- Rebecca C
What a weekend for cryptocurrency!
If you are invested in crypto then you should have seen the incredible bull-run that many cryptos saw over the past few days.
As we all know cryptocurrency has its ups and downs. Similarly to the stock market, there can be many influencing factors that cause peaks and troughs in the market value of cryptocurrencies. The past year has been record-breaking for the crypto industry as a whole.
In the current market, there are 11,710 different types of crypto (accurate as of 07/09/21).
It is no surprise that more coins and tokens are being created on nearly a daily basis. These digital currencies are taking the world by storm!
Whilst Bitcoin has not yet surpassed its all-time high from earlier this year it continues to have a strong community backing. Awareness and adoption of Bitcoin and other cryptocurrencies is continuing to increase. Countries, businesses, and individuals are increasing their knowledge of crypto and are looking to incorporate it into their profiles.
For example, as of today, 7th of September 2021, El Salvador have officially become the first country to have Bitcoin as a legal tender.
Furthermore, companies like Amazon, Twitter, and Twitch (to name a few!) are looking at ways that they can integrate cryptocurrency payments.
To blow your minds here is an interesting fact from this weekend's incredible crypto market - “99% of Ethereum holders are currently in profit”
If that doesn’t show how far cryptocurrency has come recently I don’t know what will. Ethereum is quickly growing and has a strong community and is currently the 2nd most popular crypto after Bitcoin.
Another notable cryptocurrency that has recently been on an incredible rollercoaster high is Cardano!
On Coin Market Cap, Cardano is the 3rd most popular cryptocurrency in the current market. Users have seen ADA almost double within the space of a month.
While there are still many across the world who are unsure of cryptocurrency due to its volatility and fluctuating market, it is undeniable that the market has become incredibly strong in the past year or two and will only continue to strengthen as it becomes adopted by more countries and businesses worldwide.
Here at AutoCoinCars we saw the potential in cryptocurrency many years ago and built our marketplace as a platform for cryptocurrency customers to be able to spend their digital assets on a real-world, physical item.
If you are interested in learning more about how you can buy a car with crypto you can contact us today.
*All stats and facts in this article are accurate as of 11:00 am 07/09/21