One established fact in the crypto market is that most people are now dumping the assets that they used to trade to purchase digital assets. This is not surprising going by how digital assets have recorded sporadic rises in the last few months. Despite the seeming volatility in the crypto market, traders are still coming into the market to scoop up the little profits that they can during this period. To establish this, a new report has claimed that the average volume of crypto transaction carried out in South Korea has upstaged the average volume stocks trading volume in the country.
The surge was a result of the recent Bitcoin surge
In the report compiled by the famous crypto platform, CoinMarketCap said that the cumulative total volume of transactions carried out in the big 4 crypto exchange was about $14.6 billion. In comparison, stock exchanges were said to have carried out a total of $14.5 billion in terms of transactions. CoinMarketCap has pointed out that the recent surge in volume resulted from the all-time high price that Bitcoin posted over the weekend.
The leading digital assets surmounted all odds and volatility to create a new all-time high figure of above $61,000. However, the joy was short-lived as the digital asset gave the bears a decline under the new all-time price. However, it should be noted that most analyses on CoinMakrtCap are always subject to change due to certain inflation-related factors.
Elon Musk and Tesla CFO floats new nicknames
In another news, Elon Musk has announced that both himself and the CFO of the car-making company, Tesla, would now be known by entirely different nicknames. The CEO of Tesla’s romance with Bitcoin is a relationship that would not go sour anytime soon, judging by this new update. In the statement, Elon Musk pointed out that while he would henceforth be addressed as the technoking of Tesla, the CFO of the car-making enterprise would be adorned and referred to as the master of coin. The filing made available to the US SEC pointed out that even though both individuals have changed their names, they would continue to act as CEO and CFO, respectively.
While no other tweet has been made to buttress why both men decided to change names, many speculations and rumors have started to go round as regards the feat. Tesla has also been an integral factor in the recent rise of the leading digital assets after a massive $1.5 billion investment in the asset. Even though the digital asset has seen volatility in recent days, it has overcome that to give investors hope for profit.