As the month progresses ahead, the crypto market is dropping down all of a sudden. In fact, the investors need to be confident with trading as there are mixed sentiments from different regions across the world. So, let’s check out the latest news regarding blockchain technology and what’s happening in the crypto market. Visit cryptoaclass.com if you want to know how to buy or sell bitcoins in different cities of the world.
#1 Bitcoin and Ether lose their value as the crypto prices go down suddenly
As the week draws to an end, a slowdown is observed in the crypto market. While the value of Bitcoin went down by 1%, a loss was also recorded with Ether. With a slight drop of 3.41%, the current trading value of Ether is as much as $4,479. However, with the value fluctuating marginally across the entire week, the price of Ether has been $4,000.
As per a well-known price tracker, there was also a drop in the trading values of Polygon, Shiba Inu, Polkadot, Dogecoin, and Cardano. Even when the price change was minimal in the case of altcoins, the crypto charts turned red.
As compared to other coins, Ripple, Tether, and USD Coin have emerged as gainers in the crypto market. In the forthcoming period of 24 hours, the investors may have to proceed with range-bound trading. On the other side, the financial regulator of Thailand has recommended the bank keep itself away from directly engaging with the crypto market.
#2 Whatsapp launches a pilot program for some time with crypto features
Whatsapp has now announced a program that is under trial to test how users can send and receive money using cryptocurrency. While Novi is supporting the new feature, Meta has launched a digital wallet service. The initiative will help to transfer money instantly across the locations of the US. However, only a few people can access the wallet for a limited period. Later, the number of individuals who can use the wallet may be increased depending on the overall experience.
It was way back in 2020 when the developers thought about the unique feature. The prime objective of introducing the feature is to send money with ease and similar to when people send messages instantly. But, the best part of the feature is that hidden charges will not be imposed when someone withdraws, sends, or receives money. On the other hand, Paxos Trust, based in New York, has issued U.S Pax Dollar, which is known as a stable coin. As per the launch, the users have to add money to the Novi account with the help of the app. Once added, the sum of money will be converted automatically into US dollars.
The users have to gain access to the WhatsApp Novi feature for using feature. They will first have to set up an account using the app. A bit later, they will have to select the payment feature through the paperclip icon and move ahead accordingly.
The good news is that there’s no limit set for making payments because no fees will be levied for any transaction.
#3 Luxury Travel Industry moves ahead with blockchain technology
As the number of crypto millionaires increases day by day, the interest prevails to pace ahead with new experiences. Way ahead, those who are eager to fulfill their traveling desires are using cryptocurrencies for personalized services. Considering more than 50 percent of the market potential, the tourism market moves on with the adoption of crypto even today.
Apart from facilitating transactions, blockchain technology will enable us to come up with loyalty programs. Additionally, as the industry embraces emerging technologies, it will help to tokenize the physical assets. In fact, blockchain technology will convert the most popular destinations into digital avatars.
Recently, Lynkey, the global platform, came up with a project for offering NFT solutions of more than $8 million for the tourism industry. Further ahead, as the project aims to digitize the properties at numerous destinations, the smart contracts will drive everything ahead.
According to Lynkey, Dinis Guarda, the company is transforming the travel industry through a platform based on blockchain technology. The move will empower the entire ecosystem to develop reward solutions at the places of interest. At the root level, the NFT and the blockchain technology will resolve the issues ahead. A consolidated marketplace will serve to be a solution for the issues.
Apart from everything else, with the progress of blockchain technology, the interest in digital securities has increased from the real estate sector and the tourism sector. The immense potential will enable professionals to present new business models that can lower operational costs and increase the availability of liquid assets.