The leading cryptocurrency has been consistently positively correlated with the Nasdaq since late November, unlike in previous years where it would routinely turn negative, meaning they moved in opposite directions.
The largest cryptocurrency, bitcoin, was down more than 10% on the day, falling to an 18-month low of $23,750. It is down by around 50% so far this year. Smaller coin ether fell over 15% to $1,210.
The world's largest cryptocurrency fell as much as 7.8% to $20,289, its lowest since December 2020. It has lost around 28% since Friday and more than half of its value this year. It has slumped about 70% from its record high of $69,000 in November.
"The UAE has adopted elaborate regulation as well as established a dedicated regulatory body. The country has already issued licences for more than 30 exchanges to be set up," says Guy Burton.
To take advantage of the growing crypto market in the region, Bluechip Group of Companies launched recently ‘Bluechip Token’ and ‘Acre N Yard’ in the UAE market.
India’s stricter digital lending rules have disrupted card services of foreign-backed fin-tech firms and jeopardised loan offerings of Amazon, prompting companies
The digital banking platform's primary shareholders ADQ and Alpha Dhabi, one of the fast-growing investment holding companies in the Middle East, own 65%. Additionally, Etisalat holds 25%, and the First Abu Dhabi Bank holds 10%.
The digital currency fever has swept the world today, and numerous promising projects have been launched in the Arab world, allowing the Arab world to keep up with the digital revolution and position itself at the forefront of leading global projects.
The native token of MContent is currently trading at a Market Cap of over $100 million on more than six centralised and decentralised exchanges & the platform plans to fund 100 global projects by the end of 2022. MContent has announced the