Tech

7 Important Crypto Moments In The Recent Past

The previous year was a record year for cryptos. We have seen a drastic rise in cryptos, particularly Bitcoin. The market cap for cryptos like Bitcoin in November went close to 3 T USD, which is huge money. It has reached a newer height taking crypto to the next level. Besides, we have also seen the sudden growth of tokens and other digital currencies getting decent houses in the market. We can see many more things coming in the recent past. It brings us to explore some of the best moments of the crypto world. If you minted to explore more such things in detail, visit the site https://bitqt-app.com.

1) BTC Exceeding the One Trillion USD Mark

On Feb 21, Bitcoin crossed the big-time mark of one trillion USD for the first time. To be precise, it happened on Feb 19 when the world saw the currency exceeding the market value to the said mark for the first time in its history. All thanks to the institutional investments from top companies and financial groups, it was easy for the currency to cover this milestone. These include companies like Square, Tesla, and MicroStrategy that brought BTC on their balance sheets.

2) NFT Exploding the Internet with Beeple Sale

Beeple is the artist called Mike Winkelmann who went ahead to sell his piece known as Everyday. It is regarded as the 5000 days as seen in NFT in March. It has a long history for many more reasons. The sale coming for the first time in the auction house made by Christie is known for its complete digital. Also, we see NFT-based artworks getting that whopping amount. Thanks to technologies like Blockchain that helped people grow that amount for the artist.

3) Elon Musk taking Doge to a New Height

In May, this man came to a live show making his debut on a live program. He talked about the currency known as Doge that started going on a spike once he spoke of it. On May 8, this man talked about it, and soon we saw a 73 percent jump in its value. However, the price was also seen retreating from the zenith claimed the reports of Coin Geko. The next time this man came on the show, the value went down by 29 percent. The event made the coin go up and down in the market.

4) El Salvador made BTC its Legal Tender

It was big news for BTC lovers as they could see a country in Latin America, El Salvador, making BTC their legal tender. It means you can now use Bitcoin for your daily transactions for procuring anything. The country has big plans to invest in Bitcoin City, where they will attract global icons to invest in their town in crypto. They will mine the currencies using the energy they harness from lava.

5) ETH 2.0 Game

Soon after the event, we saw something coming from the ETH domain. A new version came on the market, called ETH 2.0. The update came from London under the EIP 1559 law, which soon changed the transaction fees for many things dealt with this currency. We see ETH now working in PoS format, and the earlier version came together with ETH 2.0.

6) 600 M USD Worth of Currency Stolen

It was a record when we saw Defi hack taking place in August over its platform known as Poly Network. As per experts, it came as an issue that can help work as a code. Unfortunately, too many hackers not returning the stolen funds further caused a massive theft in crypto. Soon the theft made several similar losses coming through different hacks.

7) China Banning Bitcoin and Digital Assets Once Again

When Bitcoin came, the country showed hostility towards it and later to another crypto. However, China pulls away from its control on the digital currencies giving them the liberty to operate. So it went on for a few years, but in 2021 September, the central bank of China, known as PBOC, openly announced the ban on crypto mining and any trade. Soon the central bank came with its crypto-backed by the Chinese government. The ban made the US the number one Bitcoin hub for miners, which was not the case before the ban.

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