The market value of cryptocurrencies continues to increase. According to CoinGecko, the cryptocurrency market cap is now worth more than $3 trillion. Launching from CNBC, Tuesday (11/9/2021), the value of a number of cryptocurrencies continues to increase. One of them is Ether, on Monday this cryptocurrency managed to reach its highest level with a value above US $ 4,700. Currently, Ether is still opening in the green and trading around US$ 4,785. Simultaneously, bitcoin is currently trading around $66,006.
Of course, the increase in the market value of these cryptocurrencies does not come for free. As we know, the market value of bitcoin and other cryptocurrencies is strongly influenced by current market sentiment. Therefore, a number of issues related to cryptocurrencies can affect the market value of the digital currency both positively and negatively. Here are 5 important crypto-related events in the past week that have successfully affected the market value of bitcoin cs: 1. NFT.NYC Conference To celebrate their love of NFT, more than 5,000 people attended the NFT.NYC conference in Manhattan last week. This event has started since November 1 yesterday and will end on Thursday. NFT fans, top crypto influencers, and a host of celebrities have made their way to the event. Of course this event is a positive value for the NFT market. Even during the event, there were at least 700,000 NFT traded.
2. Cryptocurrency 'Squid Game' The cryptocurrency inspired by the Netflix TV series "Squid Game" crashed after its founder cashed out the entire token. According to CoinMarketCap, the token, called SQUID, managed to hit a high of over $2,861 on November 1 before falling to near zero.
CoinMarketCap issued a warning that it received “many reports” that users were unable to sell tokens on Pancakeswap, a popular decentralized exchange.
3. Quentin Tarantino
On Tuesday last week, director Quentin Tarantino announced that he was planning to sell seven uncut scenes from "Pulp Fiction" as NFT. Each will also include a handwritten script from the film and audio commentary from Tarantino himself, which only NFT owners can view. Later this NFT will be auctioned on the OpenSea market. However, the launch date has not yet been announced
4. Salary In Bitcoin The mayor-elect of New York City, Eric Adams, plans to take his first three salaries in bitcoins. This he conveyed in a tweet on Thursday last week. “NYC will become the center of the cryptocurrency industry,” Adams wrote. On Wednesday, Adams also said in an interview with Bloomberg Radio that he wanted to have a "friendly competition" with Miami Mayor Francis Suarez, who is a big backer of bitcoin. "He has MiamiCoin which is doing really well, we're going to look in the direction of doing that," Adams told Bloomberg Radio, hinting that he's currently looking to create a coin for New York that's similar to Miami. 5. US$1.2 trillion infrastructure bill On Friday evening last week, the United States House of Representatives passed a bipartisan infrastructure bill worth US$ 1.2 trillion. While it includes a wide variety of provisions, the bill will also impact cryptocurrency holders and their taxes.