Cryptocurrencies today: price of the main digital currencies this August 5, 2022

The cryptocurrencies they are an innovative digital asset that have experienced monumental growth in recent times due to several elements that contribute to it, including that some governments have decided to give them a opportunity as legal tender; however, they have also suffered setbacks that have cast doubt on their viability, such as the most recent episode known as the “crypto winter”.

Despite this panorama, more and more people have begun to acquire cryptocurrencies in order to invest in something “safe” and “reliable” both in the short and long term, despite the extreme levels of volatility that it constantly suffers.

For this reason, we bring you the quote of the most outstanding cryptocurrencies right now.

The bitcoin It is trading this day at $23,289.31, which implies a change of 2.91% in the last hours.

The second most popular cryptocurrency on the market, ethereum, has shown a movement of 7.71% in the last 24 hours, so its value stands at $1,732.25.

On Tether USis trading at 1 dollars, so in the last day it had a movement of -0.01%.

For its part, BNB has a value of 315.19 dollars, with a change of 1.44%, while the litecoin it does the same with 62.4 dollars after a variation of 4.27%.

Finally, the doecoinone of the cryptocurrencies that Elon Musk himself has promoted, has a value of 0.07 dollars after presenting a change of 3.57% in the last 24 hours.

Crypto winter: the latest cryptocurrency crisis

Characteristics of some cryptocurrencies. (Illustration: Anayeli Tapia)

In the first weeks of May 2022, cryptocurrencies revealed that, no matter how hard they try, they cannot escape the speculative appetiteafter the so-called “crypto winter” or “cryptocrash” plunged several digital currencies such as the bitcoin, ethereum and LUNA from Terra, situation that left many investors in the street.

It is called “crypto winter” when prices unexpectedly fall and no improvement is seen or forecast for the next six months.

This last episode was driven by several elements: inflation in the world and the proposal to ban the use and extraction of these in Russia, currently in conflict with Ukraine.

This unsettling term further alludes not only to the sharp decline in cryptocurrencies, but also to declining trading volume and months of market stagnation, a phenomenon that is not new either, since it was only in 2018 that a similar event was experienced.

However, the taste in the mouth left by the most recent crisis differs from what was experienced four years ago, since this cryptocrash has affected all cryptocurrencies in a domino effect and not just a few, so the fear that the negative effects may persist longer are latent.

The latest crisis led bitcoin to unexpectedly drop 77% of its value, until reaching the barrier of 28,000 dollars; while others like Ethereum lost 30.88% of its value in that month. The ripple effect also affected Terra’s stablecoin, LUNA, which fell more than 100% going from $118 to $0.09, a blow from which it still cannot be recovered.

Despite the current scenario, there are still those who hope that cryptocurrencies will recover, while others, with the same faith, have invested in them taking advantage of the recent disaster that has also left others without savings.

Elon Musk’s hand

Tesla CEO Elon Musk. (Photo: REUTERS/Aly Song)

The popularity of cryptocurrencies has not occurred organically, it has been driven by various personalities, highlighting that of the millionaire Elon Musk.

Since mid-2020, the founding owner of Tesla has made positive comments about cryptocurrencies through his Twitter account, mainly from bitcoin and dogecoin.

Elon Musk began by making positive and hilarious tweets about bitcoin and the following year he announced that Tesla would accept this cryptocurrency to buy his electric cars, which lasted only a short time due to the millionaire’s environmental concerns about mining bitcoin.

That same year, in 2021, electric vehicle company invested 1.5 billion dollars in bitcoin. Earlier this year he told the United States Securities and Exchange Commission that had almost 2 billion dollars in bitcoin.

Elon Musk’s good comments about dogecoin started long before bitcoin, in 2019, when he tweeted that it could become your favorite cryptocurrency and calling it “great”.

The SpaceX founder’s tweets about dogecoin returned with more intensity in 2021, around the same time he was posting about bitcoin, for example, tweeting that he would eat a McDonalds “Happy Meal” on TV if the fast-service chain accepted dogecoin. , that she would buy some of these cryptocurrencies for her son and take her to the moon, literally.

In early 2022, Elon Musk did the same as with bitcoin and announced that Tesla would accept dogecoinbut with some restrictions.

Every time Elon Musk made comments about cryptocurrencies they increased their pricealthough not in all cases they managed to stay, especially dogecoin.

The importance of Elon Musk around these cryptocurrencies is such that before any of his movements, not necessarily related to digital currencies, they came to boost their value.

At the end of April 2022 and after several weeks of negotiation, Twitter accepted the businessman’s offer to buy the social network for 44 billion dollarswhich caused bitcoin, dogecoin and other cryptocurrencies such as memecoin and luna, will increase their price.

A cryptocurrency was even born, still in beta, called “Elon buys twitter” (Elon buys Twitter)this after Elon Musk’s intention to acquire the social network was published, which also increased its cost.

Cryptocurrencies in Latin America

A representation of cryptocurrencies. (PHOTO: REUTERS/Dado Ruvic/Illustration/File Photo)

Cryptocurrencies in Argentina: Despite the fact that digital currencies have not been legalized in Argentina, their popularity has been increasing after decades of financial instability that citizens have had to face, becoming one of the Latin American nations with the greatest presence of cryptocurrencies. Along this line, President Alberto Fernández has suggested its use to combat inflation.

In addition to bitcoin, another of the most popular cryptocurrencies is LUNA, a token with which it is traded in the Terra system and that can be purchased from the Tienda Crypto platform. This cryptocurrency has managed to have a historical maximum of up to 119.18 dollars.

Cryptocurrencies in Mexico: The Bank of Mexico (Banxico) has determined that none of the institutions that participate in the national financial system may use or must allow operations of any kind through this means of payment. However, the country is ranked 14th out of 27 nations that own digital currencies, surpassing Venezuela and Colombia, with around 13 million users in 2021, according to a Finder study.

In Mexican territory, businessman Ricardo Salinas Pliego, one of the richest in the country, has shown interest in cryptocurrencies and has assured that several of his businesses will accept bitcoin in the future, including his bank, including one of his most popular stores. does.

Cryptocurrencies in Peru: The Central Reserve Bank of Peru (BCR) has made it clear that its mission is not to be the first or the second central bank to regulate the use of cryptocurrencies, due to the instability that characterizes them. However, days ago the president of the (BCR) assured that the BCR was working on its own digital currency project.

Cryptocurrencies in Colombia: In the South American nation there are more than 500 sites where it is allowed to pay with cryptocurrencies. In December 2021, it became the third country in the world with the highest growth of bitcoin owners, only surpassed by Russia and Norway, according to Finder.

Cryptocurrencies in Central America: in the government of The Saviorhas given him his vote of confidence and on June 9, 2021 became the first country to legalize bitcoin as legal tender. In addition, President Nayib Bukele announced his intention to create the first Bitcoin City in Conchagua and it would be financed through tokenized bitcoin-backed bonds.


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