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El Salvador defies IMF, continues Bitcoin purchases amid market downtrend

El Salvador's Bitcoin holdings grow to $504 million, challenging IMF directives amid sharp price declines.

CryptoSlate

Mar 10

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Happy Monday!

Welcome to today's CryptoSlate newsletter! In a bold move, El Salvador continues to defy IMF directives by expanding its Bitcoin holdings to over $504 million, despite a sharp market downturn. As the crypto sector navigates new challenges, stablecoins are emerging as a key area of growth, with significant potential for integration into traditional finance by 2025. In the U.S., Utah has made a notable shift in its crypto legislation, advancing crypto rights while dropping plans for a state Bitcoin reserve.

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The global crypto market cap is $2.66 trillion, with a 24-hour volume of $127.92 billion. The price of Bitcoin is $80,358.52, and BTC market dominance is 60.4%. The price of Ethereum is $2,023.34, and ETH market dominance is 9.2%. The best-performing sector is Art, which gained 22%. The Crypto Fear & Greed Index is currently Extreme Fear (20).