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The last two million Bitcoins (BTC) are left to be mined
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The last two million Bitcoins (BTC) are left to be mined

created Simon petersApril 4 2022

Bitcoin saw prices rebound last week, but the latter gains have stopped. Cryptocurrencies started their trading week below $ 47, peaking Monday at $ 000 on eToro. However, his performance suffered for the rest of the week, falling below $ 47 on Friday. However, it rebounded a bit over the weekend and is currently selling for around $ 635.

Ethereum meanwhile, it continued to gain steadily throughout the week, despite a huge retreat on Friday. The cryptocurrency started trading week around $ 3250, rising to $ 3370 on Thursday. However, on Friday, the token dropped significantly, reaching just $ 3192. However, it recovered quickly over the weekend and is currently trading well above $ 3450.

Cryptocurrency markets appear to have followed a similar path over the past month as stocks hit by geopolitical tensions and rising interest rates. Last month's rebound is encouraging, but the tokens are still operating to a fairly limited extent, looking for more positive indicators to bolster the price.

Investors will enjoy the live news that operators have stablecoinssuch as Terra, are still buying large volumes of tokens, but otherwise the market is still in a period of uncertainty in the face of global events.

19 million bitcoin was mined

On April Fool's Day, the 19 millionth bitcoin was created, and with it the countdown to mining the last two million tokens began. While this is an important milestone, there is little indication that it will have a powerful impact on the market. Bitcoin mining is designed such that the more you create, the harder it is to create more. The fact that we are approaching the last million remaining means that the process will be slower than in the last decade for the token growth. However, real systemic change occurs when the network goes through what is known as "halving". Then the extraction process becomes essentially twice as difficult or half as satisfactory. Another bitcoin halving is scheduled for 2024. Will this ultimately affect the price of bitcoin, time will tell. The cryptocurrency is designed to be deflationary in nature, with scarcity and the difficult processes of creating new tokens.

The founder of Ethereum praises bitcoin's "maximalism"

Founder of Ethereum, Vitalik Buterin, published an essay on Friday praising the positive aspects of so-called "bitcoin maximalism," but the publication time of the post, which took place on April Fool's Day, made observers question its veracity.

The post details the ethos of bitcoin maximalism - which fundamentally debunks the profitability of other cryptocurrencies and resists bitcoin's shifts. Created by Buterin, Ethereum is usually the biggest target of bitcoin's "maxims". The timing of the post's publication made observers question its credibility as it was posted on April 1. However, the text seems to take a serious look at some of the issues cryptocurrency grapples with today, including bad heroes and negative associations, while defending bitcoin's maximalism as a movement that embraces both the rich and the poor. Ultimately, Buterin advocates bitcoin to remain essentially "just money", rather than proposing to change its use cases. Ultimately, it is being promoted as an alternative global digital currency.

WWE will launch the NFT

WWE has signed a deal with Fanatics, the sports platform, to launch the deal NFT with trading cards on the Candy Digital platform. However, it looks like the cards will not be available any time soon.

The wrestling organization already has a license for trading cards, which will not expire for several years, but due to copyright issues, the cards will not be made available to fans in the near future.

Last year, a variety of sportswear appeared, ranging from soccer teams in Europe to the stars of the US NFL and franchise. The WWE agreement will also cover licensed merchandise and other e-commerce initiatives.

Candy Digital is not a well-known NFT platform, but both Fanatics and WWE have a significant brand presence in this space, which could help it continue to grow into a competitor in a market that has experienced operator growth in the last 12 months.

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About the Author
Simon peters
eToro analyst. A graduate of the Faculty of Mechanical Engineering at Brunel University in London. He is CFA UK Level 4 certified in Investment Management.