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Blockchain News: The Crypto Round-Up

Blockchain News: The Crypto Round-Up

Cryptocurrency is an extremely volatile market, and with the slightest change in investors’ behaviour, the crypto price could fluctuate. In recent weeks, the market has been making waves, with the price rising and falling in short durations. Although the price change isn’t drastic, it does make investors more reactive. 

There have been a few newsworthy stories lately. With huge adoption in places like South Africa, leading crypto CEO’s stepping down, and a few other game-changing moves which could lead to a spike in the Bitcoin price. 

The Cryptocurrency Price

We all know that cryptocurrency prices fluctuate more than fiat, and although it holds slightly more risk, it also has advantages. Like any investment option, the higher the risk, the bigger the potential return. This is why Bitcoin and other altcoins attract the attention of mostly the younger generation, with 31% of the crypto market being people ages 18 to 29. The rest of the cryptocurrency market comprises the following age groups: 21% of people ages 30 to 49, 8% of people ages 50 to 64 and 3% of people aged 65 or over.

Crypto New Round-Up

Part of making the right investment move in cryptocurrency is staying in the loop with what is happening in the market. By knowing what altcoins are gaining tracking, the regulations being implemented and the cryptocurrency price, you can make educated decisions on what moves to make to keep your profits increasing. 

Now for the most notable crypto news circling right now. 

Crypto round Up

South Africa Ranked As One Of The Largest Cryptocurrency Adopters

It is estimated that in South Africa, one of Africa’s most prosperous economies, 4.2 million people or 7.1% of the population, has invested in cryptocurrency, with Bitcoin being the most dominant. 

Although the statistics currently sit at 7.1%, it is expected that people within families and businesses could be sharing wallets. Experts predict that the actual percentage of the South African population using cryptocurrency is 18%. Based on the evidence of market growth, a Merchant Machine study predicts this number will grow to an astounding 23% by 2030. 

Here is a list of the top countries with cryptocurrency integration to help you grasp the numbers of people actively using cryptocurrency worldwide.

Top Countries

  • USA (46 million)
  • India (27 million)
  • Pakistan (26 million)
  • Nigeria (22 million)
  • Vietnam (20 million)

CEO Of Leading Crypto Market Maker Steps Down

Michael Moro, the appointed Chief Executive Officer (CEO) of leading Digital Currency Group, Genesis, has stepped down. 

Announced on Wednesday, the 17th of August, Genesis reported that the long-standing CEO would no longer be leading the show. In replacement of Michael Moro, the crypto group has appointed a stand-in Chief Executive Officer, Derar Islim, who will be carrying out the role in the interim. 

Genesis is dedicated to delivering operational excellence, which is why the company is doing due diligence to ensure the right CEO is appointed to replace Mr Moro, who joined Genesis in April 2015. 

After a year in his hired position, Michael Moro was promoted to CEO of Genesis, where he was positioned for six years. Moro is excited about the future and looks forward to watching the growth of the next phase. 

Derar Islim Interim CEO Genesis

Global Losses From Crypto Hack Up 60% This Year, But Scams Are Down.

Money attracts scammers no matter what field you are in, but with the increased anonymity provided by cryptocurrency, finding those critters can make it that much more difficult. That said, Crypto investors are urged to ensure all the best preventive security measures are being implemented. 

On the note of scammers and hackers, the crypto market has faced global losses from hacks in the crypto sector alone of up to 60%, but scamming rates have dropped. With people’s knowledge of digital currencies increasing, fewer and fewer scammers can pull off their elaborate schemes to pocket others’ profits. Still, on the other hand, more hackers have popped up, creating risk differently. 

In the last seven months of 2022, up to US$1.9 billion has been stolen through crypto hackers. Most of these hacks have been through decentralized finance (DeFi) protocols. 

Keep In the Crypto News Loop

Knowledge is power, and within the cryptocurrency field, it is no different. Be sure to pay attention to crypto news, Bitcoin prices, and up-and-coming options released in the market. A great place to stay on top of the cryptocurrency news is at The Bitcoin Strip, where the team of experts provides you with all the most vital information to make your next move worthwhile! 

 

Last updated by Jen Van Lier on August 18, 2022

About the editor

As website manager, Jen contributes reviews and updates to The Bitcoin Strip on a daily basis. Jen worked in the casino industry for 9 years before focusing on Bitcoin in 2016. She writes on subjects ranging from traditional slots all the way through to unique Bitcoin games, provable fairness and Ethereum smart contract gambling.

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