Crypto Scoop: Bitcoin Soars Past $60,000 Resistance!

Here are the highlights of this week's crypto scoop:

• Bitcoin breaks past $60,000 resistance
• Nigerian CBDC is set to roll out in a couple of days
• Cardano slips to 5th Largest Cryptocurrency

Bitcoin Breaks Past $60,000 resistance

After several months of waiting, Bitcoin has finally returned to $60,000. Bitcoin has had multiple price variations since reaching its all-time high of $64,000, most of which have been bearish. On the other hand, Bitcoin remained tenacious, breaking through barriers as crypto devotees rallied behind it. Even though bitcoin's price has been trending downward over the past several months, various cryptocurrency adoption policies have been implemented, further strengthening bitcoin. The adoption of bitcoin as legal tender in El Salvador and the adoption of bitcoin policies in Cuba that legitimize and recognize bitcoin are examples of such policies.

These policies have further increased public awareness of bitcoin's potential, and it's no wonder that thanks to the recent bitcoin surge, the cryptocurrency is now back at $60,000, much closer to its prior high.

Nigerian CBDC is set to roll out in a couple of days.

The Governor of the Nigerian Central Bank has indicated that the much-anticipated CBDC will be launched in a few days. The governor of the Central Bank of Nigeria, Godwin Emefiele, announced that the digital currency, e-naira, will be the first of its kind in Africa. Nigeria will be among the first African countries to embrace digitalization. Emefiele refuted prior reports that the CBDC's launch had been delayed. The CBDC's launch has been approved by a Nigerian court. It is envisaged that the Nigerian CBDC's introduction will aid in the acceleration of remittance inflows and financial inclusion in the country.

The Central Bank, on the other hand, is yet to provide more information on the restriction on banks supporting crypto transactions. After the introduction of the Nigerian CBDC, the CBN can always reconsider its stance on cryptocurrencies. While the CBDC is being built up, an official website for the e-naira has been set up, with the slogan "Same Naira. More Possibilities." To make crypto transactions easier, the website, which is also available on Google Play and App Store, has included an e-naira wallet.

Cardano slips to 5th Largest Cryptocurrency.

Cardano's price rocketed to a new all-time high a few weeks ago, propelling it to the third-largest cryptocurrency by market cap. However, while other cryptocurrencies, like bitcoin, have seen price gains, Cardano has only seen a downward trend. As a result, Cardano has dropped from third to fifth place in terms of cryptocurrency market capitalization.

Cardano ADA has gone down roughly 18 percent in the previous few weeks, despite substantial advances during the last several months. On the other hand, Cardano may soon reclaim its old position, if not even a new ATH, thanks to the new modifications that are in the works.

Read also: Crypto Scoop: Cardano Becomes The Third-Largest Cryptocurrency

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