Bitcoin has indeed been attempting to regain momentum after being rejected near $39,000 earlier this week, owing to a diminishing dollar. Although Bitcoin continues to be volatile on the downside, there has been a general increase in interest in blockchain technology adoption.
India has unveiled a novel taxation system for crypto assets while Nestcoin, a Nigerian crypto startup, has received money from tennis star Serena Williams and other venture capitalists.
Ukraine is betting on cryptocurrencies
Given the nation’s lack of investment prospects outside of real estate, Ukraine has seen tremendous growth in the decentralized financial sector, with daily crypto transactions worth $150 million. With its lower tax rates, minimal paperwork, and rapidly growing tech economy,
Ukraine has aspired to become a crypto hub of the world since before the Russian recession.
The Ukrainian cofounder of NEAR Protocol has expressed concerns that people will be forced to move their money to safer areas.
Ukraine’s deputy minister of digital transformation noted that the country will persist crypto-friendly and also that the implementation of specialized legislation will encourage foreign exchanges to invest in the Ukrainian industry.
Continued Capital Inflows
Nestcoin, a Nigerian cryptocurrency startup, has raised $6.45 million in a pre-seed funding round led by VC firms Scattered Global and Alter Global. The funding round included Serena Ventures, Alameda Research, 4DX Ventures, etc.
Frameworks for new NFTs Emerge
Grammy-winning musician John Legend is the latest celebrity to join the crypto community, announcing plans to introduce OurSong, a non-fungible token (NFT) marketplace focused on music.
Through access to private chat rooms and unreleased music, the app allows users to create NFTs and monetize superfan communities. Users don’t need to have external cryptocurrency wallets to use OurSong, and they can establish NFTs directly from their mobile.
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