ETH smashes records, Bitcoin’s brilliant quarter, PayPal’s big move
Every Saturday, theHodler Digest helps you stay on top of all the important news of the week. The best (and worst) quotes, regulatory decisions and highlights, key events, predictions and more – a week of Cointelegraph in one link.
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Best stories of the week
ETHreaches its all-time high and the price of ETHis rising.
Ether? Record height! Binance currency? Record height! Half-cadet? Record height! Bitcoin? Flat as a pancake!
Altcoins took the lead this week, with Ether breaking the $2,100 barrier for the first time – ahead of ATH at $2,036 , reached on the 20th. February was set. Oddly enough, coins belonging to the so-called Ethereum killer have also blossomed.
The price of ETH rose against bitcoin for the first time in 23 days on Thursday, shortly after credit giant Visa announced the trial launch of a program that will allow its partners to use the Ethereum blockchain to process fiat currency transactions.
Traders are now extremely bullish on Ether’s prospects and expect further growth in the near term, with $2,500 on the horizon. Of particular interest is the pricing activity we can expect in June and July, when a significant enhancement proposal called EIP-1559 will be introduced to overhaul Ethereum’s existing pricing structure.
The celebratory mood that followed the world-famous ETH summits was tempered by the petrol crisis. The cost to use this blockchain has increased by 77% in recent days, resulting in an average user fee of $22.97 for this blockchain.
AprilBull Day? Bitcoin just had its best March and its best first quarter in eight years.
Bitcoin may currently be struggling to find its footing above $60,000 , but at least we can acknowledge the cryptocurrency’s strong performance so far this year.
Despite March being a historically bad month – with losses in six of the last nine years – BTC posted a 29.84% gain for the 31-day period. Even better, we are now heading towards April, where BTC has only dropped twice since 2013.
Bitcoin also gained 103%in the first quarter of the year, covering the period from January to March, its best performance in eight years.
Traditionally, the 2. The quarter was the strongest period of the year for bitcoin – only two years had negative returns, both less than 10%. The bulls will now be looking to outperform 159% gains between April and June 2019.
As for other encouraging developments, BTC has closed six consecutive green monthly bands for the first time since April 2013, and if history repeats itself, we could see more parabolic gains this year.
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PayPal begins allowing U.S. customers to pay in bitcoin at merchants around the world.
Bitcoin’s recovery from $55,000 , was likely helped by PayPal’s announcement that the crypto is now accepted as a medium of exchange by millions of merchants around the world.
A new feature, Checkout with Crypto, allows US customers to seamlessly use their digital assets to make purchases. PayPal also supports Ether, Litecoin and Bitcoin Cash.
Cryptocurrencies will be converted to fiat once the deal is done, and the payments giant says this will create stability of value and not incur additional transaction fees.
PayPal CEO Dan Schulman said: The activation of cryptocurrencies in companies around the world is the next chapter in the widespread and massive adoption of digital currencies.
One drawback is that the U.S. Internal Revenue Service (IRS) considers cryptocurrencies to be property, not currency. This means that even spending on bitcoins that have increased in value can be treated as a taxable event.
Coinbase plans a direct listing on April 14,
The U.S. Securities and Exchange Commission has given Coinbase its blessing to make its exchange debut, and the exchange has confirmed that it will do so on the 14th. April’s coming. It is traded on the Nasdaq Global Select Market under the symbol COIN.
Coinbase was supposed to go public in March, but reportedly delayed its plans after paying $6.5 million in a settlement with the Commodity Futures Trading Commission.
Crypto analyst Filbfilb says a direct listing could cause increased volatility in the bitcoin price, especially if Coinbase suffers an immediate sell-off like Deliveroo did in its failed London IPO.
In addition, Messari produced a report concluding that the coin base effect – the common view that new chip quotes on an exchange tend to outperform quotes on other exchanges – is true.
Michael Jordan and Will Smith are participating in a $305 million funding round for Dapper Labs, the NBAshotmaker .
Dapper Labs raised $305 million in an initial funding round – which would value the company at $2.6 billion today.
The company that brought CryptoKitties and NBA Top Shot to life wants to go beyond American basketball and extend the same magic to other sports franchises.
Moreover, intrepid Cardano developers have found a way to store unencrypted smuggling tokens, even though the blockchain does not yet support smart contracts. Meanwhile, The Weeknd announced that he would be releasing his first NFTvia Nifty Gateway, featuring new music and a limited edition.
Nifty Gateway also announced that it plans to become carbon negative in the near future by counting its emissions and purchasing double the number of carbon offsets each month.
The madness behind the NFT seems to have reached a height of parody after NBC’s popular sketch show Saturday Night Liveturned to the intrepid token in a skit featuring Kate McKinnon as Janet Yellen, U.S. Treasury Secretary
Announcement of the week
Markets Pro offers up to 1.497% return on investment as quantum crypto analysis goes to everyinvestor.
One month has passed since the launch of Cointelegraph Markets Pro and every investor has received professional crypto analysis information on the market.
This week, new data showed that 41 of the 42 trading strategies tested by Markets Pro now outperform bitcoin in terms of return on investment, with 36 of them outperforming a uniformly weighted basket of the top 100 altcoins.
Two main features are offered to subscribers. The first of these is the VORTECS™Score, which is derived from an algorithm that looks at many different variables (including sentiment, tweet volume, price volatility and trading volume) and compares them to historically similar market patterns.
And the second is NewsQuakes™: Warnings about events that have historically had a significant impact on the price of an asset over the next 24 hours.
Cointelegraph Markets Pro is available exclusively to subscribers on a monthly basis for $99 per month or annually with two months free included.
Winners and losers
At the end of the week, Bitcoin stands at $59,699.22, Ether at $2,111.64 and XRP at $0.63. Total market capitalization is 1,965,398 828,338.
Among the top 100 crypto-currencies, the top three altcoins of the week are Holo, BitTorrent and Helium. This week’s top 3 altgoists are: Voyager Token, SwissBorg and Pundi X.
For more information on crypto currency prices, be sure to read Cointelegraph’s market analysis.
Most memorable quotes
I expect Ethereum to continue to grow in the second quarter. Bitcoin will outperform bitcoin in the second quarter.
Newcomer, Crypto Trader
Is Theta really worth all the jokes? I’m not sure, because it’s too early to tell. I want to see how well their spine works.
Marie Tatibue, Marketing Manager, Gate.io
SpaceX will put a literal Dogecoin on the literal moon.
Elon Musk, CEO of Tesla and TechnoKing
Bitcoin is currently between the prices of 2013 and 2017.
PlanB, designer of theflow model
Tether-Winky, Buy Dipsey, Laa Laa, Poor Little Man.
I think bitcoin is on the inevitable path to having the same market capitalization and then a higher market capitalization than gold.
Mike Novogratz, managing director of Galaxy Digital
We are working closely with the company’s teams to consider how we can offer high net worth individuals thoughtful and appropriate access to the ecosystem, and we plan to do so in the near future.
Mary Rich, head of digital assets at Goldman Sachs
This is the first time you can use cryptocurrencies seamlessly like a credit or debit card in your PayPal wallet.
Part of the problem with bitcoin is that 90% of it is not made in the US. 90% of it is made in countries with dirty energy. Therefore, it is considered a dirty occupation.
Francis Suarez, Mayor of Miami
A BTD will be worth a Lambo in 2022 and a Bugatti in 2023 :. CEO of Kraken
After previously claiming that bitcoin will be worth infinitely more in the future (Passim Digest), the Kraken CEO triumphantly returns to the week’s prediction.
In an interview with Bloomberg, Jesse Powell sought to suggest an alternative way to measure bitcoin’s value in dollars – by comparing future price movements to those of expensive sports cars… which could also have a dollar value.
Powell said that a bitcoin worth a Tesla Model 3 now could be worth ….. by the end of the year. could be worth a Lambo and a Bugatti by 2023.
He added: There could be 10 times as many dollars per year, so it is very difficult to measure bitcoin against the dollar.
FUD of the week
The iPhone user accused Apple of stealing $600,000 worth of bitcoins through a fake app.
A fraudulent cryptocurrency app in Apple’s App Store has reportedly scammed 17.1 BTC from an unsuspecting user.
Philip Christodoulou thought he had downloaded the official Trezor software because it had many five-star reviews. Little knew that the company did not currently offer such an application.
Christodoulou says his money was stolen. Then his cryptocurrency was worth $600,000, today it’s worth $1 million.
The Washington Post reports that he has since filed a complaint with the FBI, but it appears that the victim is primarily targeting the tech giant: They abused the trust I had in them. Apple doesn’t deserve to get away with this.
Trezor spokeswoman Kristina Mazankova told Cointelegraph that the company has been fighting fraudulent apps for years, but has never received a response from Apple or Google.
Oops, the 100% bitcoin hodl outperformed the altcoin basket 170% in 2017.
А, 2017. A crazy time when there was a blow to the head in the middle of the ICO boom.
Again, CNBC’s recommended investment portfolio at the time, which consisted of 30% bitcoin and 70% allcoin.
In four years, those who invested $10,000 back then will now have $52,300. If they had just bought bitcoins and hacked them, they would have over $140,000dollars now.
StatsBTC, which analyzed the figures, noted: Allocations of 30% of #BTC represent 75% of earnings.
South Korean government earns $10.5 million from four years of criminal bitcoin trading.
South Korean prosecutors eventually sold the shipment of bitcoins they seized from the criminal in 2017, and it is worth $10.5 million more than at the time of his arrest.
This is believed to be the first time authorities have sold seized bitcoins – and at the time of seizure, the cryptocurrency’s value was only .238,000.
In late March, the South Korean government enacted sweeping crypto-currency laws for the first time, increasing pressure on exchanges and virtual asset providers to use trading accounts under their real names and report their activities to Korea’s financial intelligence agency.
Best coin features
A new era for content monetisation? Blockchain techs can pay you
Current content monetization systems are considered dysfunctional, but some blockchain solutions claim to hold the key to solving the problems.
DeFi Idiot Defense with Kava CEO Brian Kerr
According to Kerr, the main reason decentralized financing hasn’t reached the general public yet is that 93% of homeowners will never touch their own keys.
Here’s how to make – and lose – a fortune with NFT.
This year, the rise of non-fungal tokens, or NFTs, has been nothing short of incredible. Since mid-February, searches for NFT on Google have increased by more than 600%.
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