Take a look at some of the top 10 news that have happened in the last 2 weeks.
- Ethereum breaks All time High
- Ripple XRP crosses $1
- Paypal Crypto Payments Launch
- VISA uses USDC to settle transactions
- Meitu pumps additional $10M into BTC and ETH
- Full Decentralisation of Cardano (ADA)
- Elon Musk endorsing DeFi
- Crypto 2 Million market cap
- Hedge fund gets exposure to crypto through Grayscale Bitcoin Trust
- Rare CryptoPunks NFTs to be auctioned by Christie’s
ETH breached its All-Time-High on 2 April 2021, hitting a Year to Date (YTD) gains of around 180%.
Many in the crypto community believe that one of the factors partly responsible for this price surge is because of Billionaire investor and Shark tank star Mark Cuban’s favourable comments towards Ethereum.
View live ETH price here 👀.
Despite the ongoing U.S. Securities and Exchange Commission’s (SEC) lawsuit, the crypto managed to climb to it’s highest level since March 2018. This price rally is speculated to be because of the continued support of the XRP community, also known as the XRP Army, in trading. The token XRP is still far off from reaching its All Time High of $3.30, which was recorded in January 2018.
Curious how much XRP is today? 👉 Check here.
An increasing number of traditional financial companies are making their foray into the cryptocurrency space. Paypal is one of the first payment providers to enable US users to use their cryptocurrency holdings to purchase goods from its millions of online merchants globally.
Some of the cryptocurrencies accepted include BTC, ETH, BCH and LTC.
VISA is now the First Major Payments Network to support transactions using the stablecoin USDC. USDC is a stablecoin pegged to the US dollar, every unit of the crypto in circulation is backed up by $1 held in reserve. This is it's pilot venture onto transaction settlements using crypto and is also a strategic move as they are eyeing Central Bank Digital Currencies (CBDCs) to be eventually integrated into the payments ecosystem.
With this upgrade, Visa’s partners can now settle their obligations with the company directly in USDC.
Chinese app developer Meitu mentioned that it purchased an additional 175.6 bitcoin for $10 million bringing its total holdings of the cryptocurrency to over 940 coins. On top of its previous buys into Bitcoin and Ethereum, Meitu now owns around $100 million worth of these two cryptos as part of its treasury.
On Mar 31, the Cardano network achieved full decentralisation, leaving block production solely to its network of 1,800 community pools. This is a monumental achievement for the blockchain as diversifying the block production provides security benefits as it lessens the rist of bad actors taking control of the network.
Decentralisation is the ultimate goal of IOHK, developer of Cardano. They believe that tackling elements like block production, governance and network need to be met first in order to be truly decentralised. With block production achieved, the next steps are to deal with the other two elements.
👉 Take a look at ADA’s price
Elon Musk has endorsed Bitcoin before, with many believing his simple change in Twitter profile led to the pump in BTC price of around 10% in under 30 minutes. The Tesla CEO also tweeted about DOGE several times which were also speculated to be linked to the pumps observed then.
Recently, on 25 March 2021 his tweet centered around support for the whole DeFi ecosystem with Musk tweeting “Don’t defy DeFi.”
Following Bitcoin’s rise to 1 trillion market cap on Feb 19, making it more valuable than both Visa and Mastercard — the entire crypto market set a new record by topping 2 trillion on Apr 6 2021.
Since the beginning of 2021, momentum in the crypto market has really begun to pick up. With more institutional investors like Square and and Tesla flocking to the space, Bitcoin and Ethereum prices have also skyrocketed to new highs.
U.S-based alternative investment management firm Millenium made has gotten exposure to cryptocurrencies, via Grayscale Investments’ bitcoin trust. The amount involved is unknown at present, as both companies have refused to comment on the investment.
Nine rare non-fungible tokens, from a Larva Labs collection, known as CryptoPunks, will be up for bidding world-leading auction house Christie's during their 21st Century Evening Sale.
These nine rare digital collectibles are from mints below 1,000, meaning that they were among some of the company’s earliest creations.
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All opinions expressed here by Coinhako.com are intended for educational purposes, taken from the research and experiences of the writers of the platform, and should not be taken as investment or financial advice.