In RockItCoin’s effort to empower individuals in the cryptocurrency space, we have extracted top industry stories for your Weekly Digest. Cryptocurrency continues to dominate the news and here are some key happenings you should know.
Cryptocurrency is a digital currency that secures transactions through cryptography. Cryptocurrency is decentralized and operates without a regulating authority. This system is regarded as a “peer-to-peer” banking system and allows users to send and receive digital assets (payments) without a middle man.
In 2021, Non-Fungible Tokens (NFTs) exploded, creating a $40 billion market seemingly out of thin air. Most of these were pieces of digital art, which, thanks to NFT technology, could be owned for the first time.
“Be fearful when others are greedy and greedy when others are fearful.” Those famous words from Warren Buffet, who is widely considered to be one of the most successful investors of all time, form the basis of the Crypto Fear and Greed Index.
2021 may come to be known as the year of the meme coins. From January 2021 to May, Dogecoin (DOGE) went from being worth slightly less than a penny to almost 75¢, a gain of more than 7,000%. Not to be outdone, Shibu Inu (SHIB) rocketed nearly 70,000% from April 2021 to October.
For the last five months, the inflation rate in the U.S. has exceeded 5%. The last time inflation climbed this high was in 2008, but it fell below 5% after just three months in the heart of that recession. It’s been 30 years since the U.S. has endured such a prolonged period of high inflation.
Cryptocurrency as a whole is an industry that we continue to learn about. As providers of Bitcoin in Miami and beyond, we thought it would be useful to explain what exactly cryptocurrencies like Bitcoin, Litecoin, Ethereum and Bitcoin Cash are versus what they are not.
