Top cryptocurrency news on September 7: Major stories on Bitcoin, WazirX and El Salvador

© Saurav Mukherjee Top cryptocurrency news on September 7: Major stories on Bitcoin, WazirX and El Salvador

Market BuzzBitcoin trading over $52,000

Cryptocurrency prices continue to be in the green on September 7. The global cryptocurrency market cap is $2.37 trillion, a 1.12 percent increase over the last day, while the total crypto market volume over the last 24 hours is $139.49 billion, which makes a 17.85 percent increase. The volume of all stable coins is now $107.57 billion – 77.12 percent of the total crypto market 24-hour volume. Bitcoin’s price is currently $52,607.67 and its dominance is currently 41.76 percent, an increase of 0.13 percent over the day. Read here.

Big StoryEl Salvador Congress backs $150 million fund for Bitcoin ahead of adoption

El Salvador’s Congress has approved a law to create a $150 million fund to facilitate conversions from Bitcoin to US dollars ahead of its planned adoption of the cryptocurrency as legal tender on September 7.  The Central American country will be the first in the world to use the cryptocurrency as legal tender. Money for this will redirected from the finance ministry’s current budget and administered by the state development bank of El Salvador (BANDESAL), lawmakers said. (Reuters)

Corporate WatchWazirX sees 2,648 percent growth in user sign-ups from tier II & III cities

WazirX said it recorded 2,648 percent growth in user sign-ups from tier-II and -III Indian cities. Based on a report by Razorpay, WazirX said tier-II and -III cities drove almost 55 percent of the total user sign-ups on its platform in 2021, thereby overtaking tier-I cities that demonstrated a sign-up growth of 2,375 percent. Influx of cheaper and faster internet clubbed with continuously-lowered smartphone prices and the COVID-19 pandemic and lockdown have led to rapid internet penetration in the semi-urban cities and rural towns of India, it added. (PTI)

What’s New?IIT Jodhpur researchers make blockchain protocol more efficient for IoT applications

Researchers at IIT Jodhpur have developed an improvised version of blockchain tech that is energy and time-efficient, allowing its application for making secure communication in IoT networks. The results of the research have been published in a prestigious international journal “IEEE Transactions” on Computational Social Systems. The IoT platform will enable integration of data for seamless functioning of smart cities, smart homes, smart industries, smart transportation etc. (PTI)