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What Happened in the Crypto Industry & NOBI During the Past Week?

Hi NOBI’s! We finally arrived at the end of November. In the midst of the widespread ‘contagion effect’ after the FTX collapse, the crypto market keeps performing well. It is proven by a number of crypto assets that are in the green zone, with DASH & BNB leading the highest spike on NOBI. Not only that, Saudi Arabia’s NFT sales also skyrocketed. What is the catalyst? We recap what’s been happening in the crypto industry during the past week!

1. El Salvador Preps New Law, Gearing Up to be Crypto Paradise?

Despite the turmoil surrounding crypto markets, some remain hopeful for the future of the space. Including El Salvador, that just quadrupled its ‘bet’ in the industry. This first country to declare Bitcoin as a legal tender is currently working on a Digital Asset Issuance Act. Later on, this law will be useful to facilitate operations with any kind of crypto assets.

According to a document posted on the official website of the National Assembly of El Salvador, the law will be tasked with regulating the operation of the transfer of all kinds of digital assets, seeking to “promote the development of an efficient digital asset market as well as protect the interests of the acquirer.”

2. DASH & BNB Lead Uptrend on NOBI

The prices of the top crypto assets have entered the green zone over the past week. With DASH and BNB leading the biggest upward trend on NOBI, up 13.67% and 9.59% respectively. Currently, crypto assets have not yet received a permit to be used as a means of payment in Indonesia. However, crypto assets are included in the commodity futures exchange. So, it doesn’t matter as long as it is used as an investment or as a commodity traded by market participants.

3. Saudi Arabia’s NFT Sales Soars Following Win Over Argentina

The number of sales for the Saudi Arabia-themed non-fungible token (NFT) collection, “The Saudis”, scored a 387% increase on Tuesday, November 22, 2022. This increase was thanks to the country’s remarkable 2 – 1 win against Argentina, in the 2022 World Cup. Who would have thought, Saudi Arabia managed to beat Argentina, which is considered one of the best football teams in the world.

4. Billionaire Investor Bill Ackman Says ‘Crypto is Here to Stay’

Bill Ackman, a billionaire investor and CEO and Founder of hedge fund management firm Pershing Square Capital Management, in a thread he posted on Twitter on November 21, expressed his opinion that cryptocurrencies will still exist despite the recent challenges.

take any of the above as an investment recommendation. All of the above said, I think crypto is here to stay and with proper oversight and regulation, it has the potential to greatly benefit society and grow the global economy. All legitimate participants in the crypto ecosystem

— Bill Ackman (@BillAckman) November 20, 2022

Citing from Cointelegraph on Tuesday (11/22/2022), Bill Ackman expressed his optimism for the crypto industry in the midst of an increasingly volatile crypto market after the FTX collapse. His belief is based on the majority of the community working hard to regain trust in the industry after the riots that occurred.

5. BlockBali 2022 is Back, NOBI Attending this Conference in Bali!

The BlockBali 2022 conference is an activity that connects global blockchain experts, governments, and Indonesian business leaders such as Sandiaga Uno, Jerry Sambuaga, Lawrence Samantha, and many other figures from Indonesia and the world. This conference discussed opportunities in the field of blockchain and crypto in Indonesia, as well as Indonesia’s future to become the largest blockchain market in ASEAN.

That wraps up for Crypto This Week. We’ll see you at the next one!

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