Expect every Saturday Digest of Hodler will help you keep track of any important news that has happened this week. The best (and worst) quotes, accents for acceptance and regulation, leading coins, forecasts and much more – Cointelegraph week in one connection.
Top stories this week
Bitcoin bulls attack $ 57,000, and altcoins collect by the end of April
The sudden upward tide surprised traders as April drew to a close as Bitcoin organized a 10% rally in a matter of hours.
The highs of $ 58,448.34 helped erase recent losses ̵
Data from Bybt show that the price of BTC has fallen 1.98% last month. This is the first time that the world’s largest cryptocurrency has closed April in red since 2015.
A contributing factor to optimistic market activity may be related to the dramatic jump in revenue at MicroStrategy, a company that owns 91,000 BTC.
MicroStrategy CEO Michael Sailor said: “We will continue to acquire and own additional bitcoins as we seek to create additional value for shareholders.”
Ethereum’s market capitalization exceeds platinum’s for the first time
While bitcoin had lost its footing for most of the week, Ether went from strength to strength.
Cryptocurrency number 2 continues to break all-time highs – with the latest record of $ 2,879.75 set on Saturday.
Overall, 2021 promises to be crucial for the Ethereum blockchain as the long-awaited Eth2 upgrade takes shape. The network is set to break with its consensus algorithm for proof of performance and move to proof of bet, which is set to reduce costs and save energy.
IN $ 330 billion, Ether’s market capitalization has already surpassed industrial giants, including Procter & Gamble and PayPal – not to mention platinum. The digital asset is also a stone’s throw away from The Walt Disney Company and Bank of America.
Tesla recorded huge profits from bitcoin sales in the first quarter
Tesla sold some of its bitcoin holdings in the first quarter, earning a profit from $ 101 million as a result.
The electric vehicle maker said it bought $ 1.5 billion worth of bitcoin in February, and that sale accounted for about 10 percent of its cryptocurrency.
Crypto Twitter did not respond politely to the news, and comedian Dave Portnoy accused Elon Musk of taking advantage of a pump and dump created by his public statements in support of BTC.
Musk denied the allegations and said he had not sold any of them his Bitcoin. He also explained that Tesla had executed the transaction “essentially to prove the liquidity of bitcoins as an alternative to keeping money in the balance sheet.”
Musk, meanwhile continue to defend Dogecoin in his Twitter show – before he hosted Saturday Night Live on May 8.
Coinbase offers its customers awto purchase a crypto using PayPal
There have been a number of milestones this week when it comes to simplifying the process of buying a crypto … and using it as a payment method.
Coinbase has announced that US consumers will now be able to purchase digital assets using debit cards and bank accounts linked to their PayPal accounts – giving them a greater choice of digital assets than PayPal provides on its own.
Meanwhile, rival exchange Gemini has announced it is merging with Mastercard to launch a credit card that will allow crypto holders to spend digital assets and receive cashback rewards in the form of bitcoin.
Elsewhere, Binance announced that it will launch its own NFT market in June – complete with the “Premium Event” category, which is designed to attract big names.
And, if you feel hungry, Bubba Gump Shrimp’s seafood restaurants will begin accepting Bitcoin and other cryptocurrencies over the next 90 days.
Giving Block launches Crypto Giving Pledge to increase donation efforts
A leading crypto donation platform has launched a new initiative that aims to help the digital asset sector become the most charitable in the world.
The Giving Block has launched the Crypto Giving Pledge, which encourages investors to donate at least 1% of their holdings to charity each year and asks businesses in the area to contribute 1% of their revenue to such causes.
Users can join the initiative anonymously and without having to disclose their contributions. If everyone in the crypto donated 1% of their holdings to charities, they could collectively raise $ 20 billion.
In addition to raising money for “amazing causes that need critical support,” the organization’s co-founder also says it could erase the burden of crypto taxes on donors – and “put to bed the idea that crypto is bad.”
Winners and losers
At the end of the week Bitcoin is in $ 57,380.80, Ether at $ 2,880.41 and XRP at $ 1.56. The total market capitalization is at $ 2,212,553,216,270.
Among the top 100 cryptocurrencies are the first three profits of altcoin for the week phantom,, Polygon and UN. The only loser of altcoin is Forehead.
For more information on crypto pricing, be sure to read Cointelegraph market analysis.
Most memorable quotes
“After the present case, Ripple will become public. The current CEO wants to do that. Chris wants to do that. “
Yoshitaka Kitao, Executive Director of SBI Group
“Facebook bought 0 bitcoins for a total price of $ 0 in a strategic corporate move to have fun staying poor.”
“If you sold #Bitcoin because Facebook didn’t buy one in the first quarter and you also think you’re GMI, I have some unfortunate news for you.”
Travis Kling, CEO of Ikigai
“HMRC suspects that more and more hidden wealth is slipping through its fingers due to the rise of cryptocurrencies.”
David Jones, Directed by UHY Hacker Young
“With blockchain analysis, what we say over and over again is that all this activity is forever in this book, and if you did something wrong 10 years ago, you could be caught and arrested for it today.”
Sarah Maclejon, computer scientist
“Instead of investing in cryptocurrency, I want to focus on extreme life extension technologies, because if you die, you can no longer enjoy your life.”
Roger See, Founder of Bitcoin.com
“This recent recovery in Altcoin’s market capitalization is much sharper than the recovery after a follow-up in February.”
Forecast of the week
Ether will always be second only to bitcoins, he says Shark tank Kevin O’Leary
Although ETH strengthened further against BTC this week, Shark aquarium star Kevin O’Leary still believes that bitcoin will remain at the top of the crypto rankings.
Speaking to CNBC, he said: “Bitcoin will always be gold, Ethereum will always be silver.”
The Shark aquarium star said he has owned crypto since 2017, announcing last month that he would distribute 3% of his portfolio in bitcoin.
Before that, however, he referred to digital assets as “crypto nonsense” and bitcoins as “non-real currency.”
FUD of the week
DeFi hacks and exploits totale $ 285 million as of 2019, Mesari reports
The growing popularity of decentralized financing since 2019, the emerging market segment has become a target for hackers and opportunistic profits.
Crypto-research company Messari says DeFi protocols have lost more than $ 284 million from hacks and other exploit attacks since 2019.
Almost half of the DeFi hacks covered in the Messari report are quick loan attacks, while others take advantage of temporary flaws in oracle price issues.
County in New Jersey realized 250% profit from seized crypto in 2018.
U.S. prosecutors have sold off the cryptocurrency they confiscated in 2018.
The digital assets seized during the drug bust were initially valued at $ 57,000. Three years later, they also generated a profit from $ 141,000.
Monmouth County Attorney Christopher Gramichoni said the county was the first state-level agency to complete the seizure and liquidation of cryptocurrency assets.
“This will serve as an effective template for state law enforcement in the cryptocurrency market – a place where we can expect the proceeds of crime to continue to be concealed,” he added.
Binance could face heavy fines for shares, warns the German regulator
Binance’s attempts to link traditional markets to the cryptocurrency space through fractionated share tokens have caught the attention of Germany’s financial regulator.
BaFin has warned that the world’s largest cryptocurrency exchange could face heavy fines for issuing security tracking tokens without an accompanying investment prospectus.
Binance released factional shares for Apple, MicroStrategy and Microsoft on Monday, adding tokens to Coinbase and Tesla.
The exchange told Cointelegraph: “Binance takes its compliance obligations very seriously and is committed to following the requirements of the local regulator wherever we work. We will work with regulators to answer any questions they may have. “
Best coin telegraph functions
Roger Ver’s next life: Cryonics meets crypto
With a condition he vaguely calls billions, the Bitcoin Cash supporter intends to shift his investment focus to cryonics over the next decade in hopes of improving experimental technology.
100 fascinating facts about the last 100 days of crypto
An investment of $ 100 in DOGE 100 days ago will now cost $ 2,742, while the same investment in BTC today will cost $ 130.
Biden’s capital gains tax plan to pull crypto to Earth from the moon?
More taxes can lead to short-term volatility, “but in the long run you may see more demand for DeFi applications and other secured uses.”