EddieJayonCrypto
20 Mar 22
• Fantom is looking like it will do well even after such high-level exits• Portugal is a crypto safe haven and attracting talent and refugees• El Salvador is experiencing a slow adoption of Bitcoin use• India is about to hit everyone with their 30% tax on crypto starting April 1Sometimes there is mo...
• Fantom is looking like it will do well even after such high-level exits• Portugal is a crypto safe haven and attracting talent and refugees• El Salvador is experiencing a slow adoption of Bitcoin use• India is about to hit everyone with their 30% tax on crypto starting April 1Sometimes there is more going on over the weekend than one might think. Here is what's on my mind today.1. Remember when I said Fantom would have to show me they are more than the high-level exits that occurred? Well, it looks like they may be doing just that. Smart contracts are booming on the Layer 1 network. They also announced their partnership with Poloniex and support from crypo.com and Wormhole protocol. They also revealed a roadmap to implement upgrades to improve security, storage, and network performance. 2. A few weeks ago, I had mention Portugal has become quite the haven for crypto. Fast-forward and we are seeing many Ukrainians darting to Portugal where they can leverage their crypto. People are also jumping the border from Spain into Portugal because there are no capital gains taxes there. There are also a lot of $1B+ market cap. Crypto projects, like NEAR, are located there, and they are hiring. Portugal is looking like a modern-day melting pot of crypto talent from around the world. 3. Bitcoin adoption in El Salvador is not taking off the way they thought. Then again, time is on their side and there is a little bit of a learning curve. Only 15% of the enterprises in El Salvador have even performed a Bitcoin transaction, as per a recent report. Frankly, I was not expecting a fast adoption. That said, I do expect it to pick up and continue at a steady clip as more people become familiar with the processes and utility. 4. April first is going to be a huge day in India as they will be implementing their 30% tax on crypto transactions. There is a reason why they are experiencing a brain drain and this is a huge one. Talent is leaving the country and headed to places like the United States, Portugal and other countries where crypto jobs are growing, and acceptance is on the upswing.