Gate.io Blog Daily Flash | The Central African Republic Regards Bitcoin as Fiat Currency_ NFT traded more than $1.5 billion last week

Daily Flash | The Central African Republic Regards Bitcoin as Fiat Currency_ NFT traded more than $1.5 billion last week

25 April 12:36

Today's Topic - The bill on Bitcoin as fiat currency in the Central African Republic has been approved

On April 25, Forbes reported that the national assembly of the Central African Republic had unanimously approved a bill, becoming the first country in Africa to adopt Bitcoin as the payment currency.

It is reported that the bill was initiated and submitted by Gourna Zacko, Minister of Digital Economy, Postal Services and Telecommunications, and Calixte Nganongo, Minister of Finance and Budget. It not only establishes the legal framework for the supervision of cryptocurrency, but also defines Bitcoin as an official currency of the country.

The application of fiat currency means accepting cryptocurrency as a legal means of payment established by specific legislation.

Today's Chart - NFT trading has been on a downward trend this year, but it exceeded $1.5 billion last week, higher than the Q1 average

According to Dapprader data, NFT trading has been in a downward trend this year. Therefore, the surge in NFT trading volume last week is good news. With the bearish signal in 2022, some people worry that it may be in the correction range.

Last week, the transaction volume of the NFT market exceeded $1.5 billion, of which the transaction volume of Moonbirds, an NFT project, reached $330 million (approximately 111000 ETH). In addition to Moonbirds, other NFT projects with large trading volume last week include Murakami.FlowersSeed (OpenSea trading volume reached 21486ETH, approximately $64 million), MutantApeYachtClub (OpenSea trading volume reached 17273ETH, approximately $51.3 million), BoredApeYachtClub (OpenSea trading volume reached 11100ETH, approximately $33 million), and BEANZOfficial (OpenSea trading volume reached 5900ETH, approximately $17.5 million).

In addition, in the 13 weeks of the first quarter of 2022, NFT's total sales have reached $12 billion, with an average weekly sales of approximately $923 million.

Today's Influencer - Musk: it would be nice to use Dogecoin as tip money

Shibetoshi Nakamoto, the founder of dogecoin, said on the social networking website that he hoped to add practical functions to dogecoin:

1. Improve the commercial application of Dogecoin;
2. Use Dogecoin as tip currency;
3. Build a bridge between Dogecoin and Ethereum and allow it to be used with Web3.

In this regard, Musk responded that the first point is positive, the second point is good, and the third point is not necessary.

Hot events last week - #Ethereum rate of return #Bitcoin rate of return, #Ukraine bans fiat currency from buying Bitcoin

Ethereum investors have a higher rate of return than Bitcoin investors

The Bahamas will allow citizens to pay taxes on digital assets

Goldman Sachs says Apple is a leader in developing metaverse technology

Ukraine implements martial law: prohibit the purchase of Bitcoin with fiat currency

Shiba Inu will provide ATM services in more parts of the United States

Author: Gate.io Observer Byron B.,Translator: Joy Z.
* This article represents only the views of the observers and does not constitute any investment suggestions.
*Gate.io reserves all rights to this article. Reposting the article will be permitted provided Gate.io is referenced. In all other cases, legal action will be taken due to copyright infringement.

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Daily Flash | The Central African Republic Regards Bitcoin as Fiat Currency_ NFT traded more than $1.5 billion last week

Daily Flash | The Central African Republic Regards Bitcoin as Fiat Currency_ NFT traded more than $1.5 billion last week

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