Cryptocurrencies brace for winter, virtual Adidas and a bitcoin city

Cryptocurrencies brace for winter, virtual Adidas and a bitcoin city

Cryptocurrencies brace for winter, virtual Adidas and a bitcoin city

Information about Cryptocurrencies brace for winter, virtual Adidas and a bitcoin city

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By Lisa Pauline Mattackal and Medha Singh
(Reuters) – Cryptocurrencies survived one of the largest market shocks since the earliest days of the pandemic last week, with El Salvador a notable dip buyer, while investors decided not to share Adidas’ excitement over a foray into the buzzy metaverse.
El Salvador’s plans to build the world’s first “Bitcoin City” https://www.reuters.com/markets/rates-bonds/el-salvador-plans-first-bitcoin-city-backed-by-bitcoin-bonds-2021-11-21 and Adidas’s entry were the bright spots for digital assets in a week that saw major cryptocurrencies clobbered by fears over the new coronavirus variant Omicron.
Bitcoin was down 0.5% on Monday and has lost about 17% of its value from a record $69,000 over the past 19 days. But rival currency ether and tokens linked to the metaverse and decentralized finance applications have fared better.
Adidas’s move made waves …

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