In recent years, people have become very enthusiastic about digital currency. With this in mind, Facebook is preparing to market its digital currency. According to media reports, Facebook may launch its cryptocurrency DEM this year. If Facebook manages to bring its digital currency, competition in the cryptocurrency market will increase. Facebook had previously planned to launch a digital currency in 2019. But then the company’s plan did not succeed.
Facebook’s cryptocurrency DIEM is the new start of the day. In 2019, Facebook has named its digital coin Tula. But this time several major changes have been made to the company’s name. E-commerce transactions can also be done using DIEM.
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Bitcoin prices will drop after Elon Musk’s tweet
Bitcoin prices have been falling since the tweet by Tesla CEO and billionaire Elon Musk. Referring to the environment, Tesla said it would not accept bitcoin. Since then, Bitcoin prices have seen a drop. Apart from Bitcoin, cryptocurrencies like Dogquin and Ethereum are also falling.
Bitcoin will compete with Dogquin
Facebook’s digital currency will directly compete with older cryptocurrencies such as Bitcoin and Dogcoin. The digital currency market is currently dominated by cryptocurrencies such as Bitcoin and Dogcoin. In such a situation, it is not easy to place a Facebook coin in this market.
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