Hi Crypto Aficionado!

It was a historic week. 

El Salvador became the first country to recognize Bitcoin as a legal tender—Read more here.

Meanwhile, the market started bullishly but ended bearishly.

5 top coins that had the most gains

Solana

Solana, a blockchain with an ecosystem similar to Ethereum’s, had the highest gain among the top ten coins on the Coinmarketcap. 

It gained over 70% in the last week.

If you are in Africa, you can buy the coin on Binance.

Algorand 

Algorand is another coin that experienced a lot of gain in the last week. 

The coin gained over 93%.

As an African investor, you can buy this coin on Binance and if you are in South Africa, you can buy it on Kucoin.

Filecoin 

Filecoin, the native coin of the decentralized storage network, also had a good week.

It gained over 13%.

The coin is available on Binance.

Bitcoin 

Even though Bitcoin lost 5% of its value in the week, it generally saw a great week. 

It recovered from much of the losses it made in the previous week. 

It was also a great week for the first and largest coin in market cap after becoming a legal tender in El Salvador. 

You can buy Bitcoin on Localbitcoins, Paxful and Binance.

Ethereum

ETH, the native coin of the largest platform for decentralized applications, lost 6%.

However, this was a better week than the previous week.

You can buy the coin on Binance or Paxful.

I picked these coins because they performed the best among the coins on the top 30 on the Coinmarketcap.

5 emerging coins

Fantom

This is the native coin of a blockchain designed to compete with Ethereum as a platform that runs decentralized applications. 

It gains over 100%.

Solana 

The last few days, Solana has been the most-watched coin. 

The buzz created around it pushed it to gain about 70%

Fetch.ai 

This little-known coin happens to be among the best performing coins in the last seven days. 

It gained about 41%.

Cardano 

While Cardano lost 14% of its value, it still was among those that performed very well. 

The interest in Cardano was partly driven by the Alonzo upgrade that gives the blockchain smart contract capability.

Near Protocol
This is a little-known coin that powers a platform for decentralized applications that saw a huge surge. 
It gained slightly over 80%.
We picked these coins for this section because, in addition to having a great market week, they either attracted extraordinary attention, they are new or they have a new upgrade to their core protocol.

In the news

Crypto is not a currency.

The South African Central bank governor has said cryptocurrencies like Bitcoin don’t meet the standards required to be a currency.

Mr. Lesetja Kganyago, the central bank governor.

“One, it must be a generally accepted medium of exchange. Secondly, it must be accepted as a store of value. And thirdly, it must be a unit of account. A cryptocurrency is a store of value. It is a medium of exchange but is not generally accepted. It’s only accepted by those who are participating in it,” he said.

Read more here

South Africans warned about doing business with Binance

Last week South Africa’s regulator, The Financial Sector Conduct Authority (FSCA), warned the public about using Binance exchange because it was not formally registered to offer any financial services in the country. Read here.Binance responded to the report by stating that it complies with local regulations. Read here.

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