From recent bitcoin and ethereum price swings to Lugano, Switzerland’s adoption of crypto legal tender to Michael Jordan’s HEIR NFT drop, Ross Mac of Maconomics breaks down the latest cryptocurrency headlines in this episode of the Crypto Minute on Friday, March 4.
Transcript:
You got the greatest basketball playing ever, dropping his first NFT line, while another country is adopting BItcoin as legal tender.
It’s your boy Ross Mac and this is what cryptocurrency investors are watching on Friday, March 4.
First, the crypto market tumbled overnight, shedding nearly $100 billion as the Russian-Ukrainian conflict continues. Ethereum and Bitcoin have dropped 5% and 4%, respectively. Specifically, ETH has dipped below the $3k level. Let’s see if we get some support over the weeked.
Michael Jordan’s HEIR dropped its first NFTs. HEIR’s 6 Rings NFTs were inspired by Jordan’s six NBA championships with the Chicago Bulls. The platform sold a little over 5,000 NFTs and the buyers became “funding fans.”
Lugano, Switzerland formed a partnership with Tether to establish Bitcoin, Tether and Lugano’s LVGA points as legal tender in the city in a move that echoes that El Salvador did. Michele Foletti, the mayor of Lugano, explained that the move was de facto legalization since the Swiss franc will remain legal tender. So, citizens will be able to use crypto for their taxes as well as their everyday transactions.
It’s your boy Ross Mac and that was the Crypto Minute on TheStreet.
TheStreet’s Crypto Minute is brought to you by Blockchain.com.
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