Ethereum price drop before merger, South Africa etc.

In this format we want to discuss current crypto news and tell you what is happening in cryptocurrency. This means you are always up to date when it comes to cryptocurrencies, NFTs and DeFi.

To this day, Ethereum Merge is still a big topic in crypto news. We also look at some interesting statistics from South Africa and give a look at the upcoming MTV VMAs where the Borde Apes NFTs play a big role.

Crypto News #1: Sell the News Before the Ethereum Merge

The upcoming Ethereum merger is still the big topic in the market. The consensus mechanism in the entire network must be changed to proof-of-stake. The Beacon chain is merged with the Ethereum mainnet. You can find more information about Ethereum Merge here!

ETH course 1 day
Ethereum price in the last 24 hours, source: Coinmarketcap

Today, Friday, we saw stronger losses in the Ether lane. Ethereum dropped from $1,700 to a price of just $1,650 within hours. These losses clearly show the phenomenon of “Sell the News!” As the merger approaches, it appears that some investors are selling more ether. There are also some uncertainties about the smooth completion of the merger.

Crypto news #2: South Africans have 10% crypto

Cryptocurrencies are much more widespread in many regions of the world than in Germany and Europe. This includes above all the African continent, where an extremely large number of people use cryptocurrencies as an alternative to traditional bank accounts. South Africa is one of the most progressive countries in Africa.

There are now new statistics that in the African country, about 10% of the population already own cryptocurrencies. These are higher proportions than in many Western countries. Most investors own Bitcoin by 5%. Ethereum and Dogecoin follow with 2% each.

South Africa Bitcoin

Nevertheless, the share is slightly lower than the global average of 15%. When it comes to cryptocurrencies, Africa remains an interesting growth market due to the population structure and high economic growth in many regions.

Crypto News #3: MTV Video Music Awards with Bored Ape NFTs

MTV’s Video Music Awards (VMA) is an institution among the music industry’s awards ceremonies. NFTs have long since made their way into the music industry. An important feature is the video of the two rap legends Eminem and Snoop Dogg. Their video for the track “From the D 2 The LBC” prominently features the NFTs of the two rappers from the famous “Bord Ape Yacht Club” collection.

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At the VMAs, the video and thus also the world-famous and popular NFT collection play an important role. With this, the popularity of NFTs should continue to rise in the mainstream. It’s another important step in raising awareness of Bored Apes and NFTs in general. The show takes place on Sunday 28/08/2022.

What can we take away from today?

What we can take away from today’s crypto news: Ethereum Merge remains the most interesting topic in the market and the Ether rate needs to be closely monitored. Moreover, the popularity of cryptocurrencies and NFTs based on blockchain is increasing in many areas of life.

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