Cryptocurrency News

Elon Musk – Bitcoin, Doge & Shib Will Be The Official Money Of Mars.

In a recent podcast, Tesla CEO Elon Musk stated that he does not completely comprehend Ethereum blockchain-based smart contracts. When certain pre-programmed circumstances are satisfied, smart contracts have the capacity to self-execute. “I don’t know whether Mars would have a cryptocurrency as a thing,” Elon Musk said, according to Forbes. “I don’t know if Mars would have a cryptocurrency as a thing, but definitely it seems possible, but it would be kind of a localized thing on Mars.”

While on the other hand, the year 2021 is drawing to a close, yet cryptocurrency values are continuing to tumble. The price of major cryptocurrencies has continued to fall ahead of the expiration of a $6 billion crypto options contract earlier on Friday. At 8.38 a.m., the worldwide crypto market cap was $2.18 trillion, with trading volume down 6.19 percent to $95.92 billion.

The market has its own rhythm, which is more apparent now than ever before. Bitcoin’s (BTC) price was above $50,000 just two days ago, but it now trades at $46,733.63, down 1.16 percent, and continues to fall. Ethereum (ETH) has dropped 0.80 percent to $3,715.94.

Elon Musk - Bitcoin, Doge & Shib Will Be The Official Money Of Mars.
Bitcoin Price Chart – Source: CoinMarketCap

“Bitcoin has had a retracement following the plunge and is presently trading below $47,000. The market continues to expect the options contract to expire on December 31.

“Smart contract platform tokens, such as ALGO and NEAR, have soared, with only NEAR now sustaining its pace,” says Gaurav Dahake, CEO of Bitbns, a cryptocurrency exchange.

Cardano (ADA) is down 1.83 percent at $1.32 USD, while Algorand, dubbed the “Ethereum killer,” is down 1.58 percent at $1.67 in an otherwise gloomy market, bringing its market value to $10,626,962,258.

Binance Coin (BNB) is down 0.11 percent at $515.28, while Solana (SOL) is up 0.75% at $172.21, among other significant coins.

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