The crypto market has now seen some light of hope and the prices of some major cryptocurrencies grew to a great extent. In the second week of September Bitcoin was trading over $52,000, which was a good deal after its crackdown in May 2021. Let us see the top September crypto news that took place in the second week of this month. There have been many crypto news, Twitter handles. There you can find cryptocurrency news in India as well.
September Crypto News: Bitcoin Traded Over $52,000
The value of digital currencies continued to be in white on September 7. The digital currency market capitalization globally witnessed an increase of 1.12% to $2.37 trillion over the last week. We will also discuss the cryptocurrency news Cardano, and cryptocurrency news Solana.
The present volume of all stablecoins is $127.86 billion which constitutes 77.97% of the complete crypto space. If we talk about the Bitcoin price news, then the value of Bitcoin presently is $45,344.00 and Bitcoin’s dominance on the cryptocurrency market today is 41.63%, which is an increase of 0.64%. BTC has emerged to a greater height after the crypto crash news in May.
Price (as of 11.09.2021 at the time of writing)
Ahead Of Adoption, El Salvador Congress Backs 150 USD Millions For BTC
Another important September crypto news includes El Salvador accepting BTC officially now. The El Salvador Congress accepted a law to formulate a fund of $15 million to allow conversions BTC to USD before the planned adoption in the Central American country of the digital currency as a legal tender in the upcoming week.
With 14 votes against and 64 votes in favor, Congress accepted the funds as El Salvador, which already uses the USD, adopted BTC officially on September 7, 2021. This Central American country will be the first nation across the globe to use digital currency as a legal tender.
Money for the purpose of the new fund will be redirected from the present budget of the finance minister and will be looked after by the State Development Bank of the country according to lawmakers. According to a document published by the Congress,
“The purpose of this law is to financially support the alternatives that the state provides, without prejudice to private initiatives, that allow the user to carry out the automatic and instantaneous convertibility of bitcoin to the United States dollar.”
Researchers From IIT Jodhpur Enables Blockchain Protocol More Effective For IoT Applications
Researchers from the IIT (Indian Institute of Technology) Jodhpur have formulated an improvised interpretation of a blockchain technology that is lighter computationally and both time and energy efficient enabling its application for conduct secure communications in IoT networks.
To make the IoT platforms more safe, researchers recommend the use of blockchain technology to operate the IoT platforms.
Blockchain is a technology which is being used as a gateway for safe digital transactions of digital currencies such as Ethereum, Bitcoin, and many more. However, the major drawbacks are energy efficiency and time delays of presently used Blockchain protocols restricting its use for IoT platforms.
As per the September crypto news, the second week of September has witnessed a lot of important events happening in the crypto space. Some major digital currencies experienced a rise in their practice, while El Salvador has accepted BTC as their official legal tender. The crypto space is expected to undergo more alterations in the near future. The cryptocurrency news today is indeed very happening.