National Basketball Association and crypto industry
The popularity of cryptocurrencies made the crypto money such as Bitcoin, Ethereum, Litecoin, part of everyday life. Several years ago, people had limited knowledge of digital currencies. However, little-by-little cryptocurrencies penetrated all spheres from real estate to the National Basketball Association. The crypto industry is developing, and as a result, it is even possible to pay for NBA tickets by crypto transactions.
Cryptocurrency is changing the way people are paying their bills, etc. One of the latest examples of how cryptocurrencies are used on a regular basis comes from the NBA. The National Basketball Association is famous not only in the U.S. and abroad. It means that NBA fans are closely monitoring the situation not to miss any new trends.
The Sacramento Kings became the first club in the history of the NBA to develop a crypto token. The purpose of this token is to offer rewards for its fans. The name is Kings Token. According to the plan, this crypto token will become available from October 25.
This team showed interest in cryptocurrencies five years ago. In 2014, it became the first NBA team to accept crypto transactions. The fans of Sacramento Kings have the opportunity to pay for the tickets by Bitcoin.
In 2018, this NBA team reached another milestone as it is the first team that decided to start crypto mining. It is worth mentioning that Kings created a special program called MiningForGood. The purpose of this program is to donate funds to charity.
Such programs help to increase awareness about the crypto industry.
Crypto industry on Tuesday
Bitcoin is the number one digital currency in terms of market capitalization. On Tuesday, Bitcoin strengthened its position on the market. This is good news for Bitcoin especially after taking into consideration that price fell to $7,700 on Monday. This was the worst result since the beginning of the month.
Right now, Bitcoin’s price is $8,100. The next goal to break the resistance level above $8,500.
Another cryptocurrency that improved its position is Ethereum. It was able to overcome the resistance above $175 and $180 levels. At the moment, Ethereum’s price is $180.