The Crypto world is very happening with new tweets popping around from influencers such as Elon Musk to new influential DeFi and Blockchain projects launches. Today, we are giving you the latest rundown with Bitcoin, Altcoins, and the crypto ecosystem.
Bitcoin price hits a 3-month low.
After Elon Musk’s tweet to restrict the use of Bitcoin to purchase Tesla cars, Bitcoin price saw a massive drop of 9%, the lowest since early February. However, the CEO of Tesla recently tweeted that the company has not sold any Bitcoin and is holding it until the cryptocurrency comes with a new environmentally-friendly way to do things.
This news prompted several Bitcoin holders to dump the coin, and environmentalists worldwide took this news with enthusiasm. Bitcoin is now being held accountable for its massive power consumption and will be forced to shift its operation to a more lucrative way.
Shiba Inu and DogeCoin
While Bitcoin saw a downfall from Elon Musk’s tweet, Altcoins such as DogeCoin and Shiba Inu saw massive growth. While competitors, these both coins have seen a surge of interest following tweets from Elon Musk. He posted jokingly about buying a Shiba Inu dog which led to its 300% growth immediately.
On the other hand, SpaceX, another company owned by Elon Musk, announced its plan to fund the next mission using DogeCoin entirely. He even polled about asking if the community wants Tesla to accept DogeCoin, which was posted days before he announced the company’s plan to restrict Bitcoin.
Other promising news
On the other hand, NFTs have seen excellent traction as more blockchain, and DeFi projects have started incorporating them with their platforms.
- Recently, FOMO Lab, a leading NFT marketplace, partnered up with PVLACE of 800 Mafia and Gunboi to launch their NFT collection, “For The Culture.”
- Exeedme, a Portugal-based gaming platform, has opened up its platform to the public. Earlier an invite-only play-to-earn ecosystem that rewarded users with XED and EXE is now open to everyone.
- DeFire, a decentralized smart order routing engine built on Cardano, recently raised $5 Million in its pre-IDO funding round.