Comes every Saturday, Hodler’s Digest helps you keep up with every major news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more – a week on Cointelegraph in one link.
Top stories this week
Bitcoin bulls attack $ 57,000, and altcoins rally as April draws to a close
A sudden soaring surge surprised traders as April drew to a close, with Bitcoin one 10% rally in a few hours.
Highs of $ 58,448.34 helped wipe out recent losses, but not quite.
Data from Bybt shows that the price of BTC has fallen 1.98% last month. That is the first time that the world’s largest cryptocurrency has closed the month of April in the red since 2015.
One factor contributing to the optimistic market activity may have been linked to an astonishing revenue increase at MicroStrategy, a company that owns 91,000 BTC.
MicroStrategy CEO Michael Saylor said: “We will continue to acquire and hold additional Bitcoin as we seek to create additional shareholder value.”
Ethereum’s market capitalization is higher than platinum for the first time
While Bitcoin had lost its footing for most of the week, Ether has been getting stronger and stronger.
The No. 2 cryptocurrency continues to break new all-time highs – with the latest record of $ 2,879.75 on Saturday.
All in all, 2021 promises to be a pivotal year for the Ethereum blockchain as the highly anticipated Eth2 upgrade takes shape. The network will say goodbye to its proof-of-work consensus algorithm and shift to proof-of-stake, which is set to cut costs and conserve energy.
Bee $ 330 billionEther’s market cap is now larger than the industry giants including Procter & Gamble and PayPal – not to mention platinum. The digital asset is also moments from catching up with The Walt Disney Company and Bank of America.
Tesla makes huge gains from Bitcoin sales in the first quarter
Tesla sold some of its Bitcoin holdings in the first quarter, making a profit of $ 101 million as result.
The electric vehicle manufacturer announced that it had purchased $ 1.5 billion worth of Bitcoin in February, and these sales amount to about 10% of its crypto supply.
Crypto Twitter did not respond kindly to the news, with comedian Dave Portnoy accusing Elon Musk of taking advantage of a pump-and-dump designed by his public statements in support of BTC.
Musk rejected these claims, saying he has not sold any of them to be Bitcoin. He also explained that Tesla was conducting this transaction “essentially to prove Bitcoin’s liquidity as an alternative to holding cash on its balance sheet.”
Meanwhile, Musk has continued to defend Dogecoin on his Twitter feed – for him as hosting Saturday Night Live on May 8.
Coinbase offers customers away to buy crypto with PayPal
This week saw a series of milestones when it comes to simplifying cryptocurrency buying … and using it as a payment method.
Coinbase has announced that users in the US can now purchase digital assets with debit cards and bank accounts associated with their PayPal profiles, giving them a wider choice of digital assets than PayPal alone offers.
Meanwhile, rival exchange Gemini has announced that it is partnering with Mastercard to release a credit card that will allow crypto holders to receive cash back rewards in the form of Bitcoin.
Elsewhere, Binance announced that it was launching its own NFT marketplace in June – complete with a “Premium Event” category designed to attract big names.
And, if you are hungry, Bubba Gump Shrimp’s seafood restaurants are set to accept Bitcoin and other cryptocurrencies for the next 90 days.
The Giving Block launches “Crypto Giving Pledge” to ramp up donation efforts
A leading crypto donation platform has launched a new initiative designed to help the digital assets industry become the most charitable in the world.
The Giving Block has launched a “Crypto Giving Pledge” that encourages investors to pledge at least 1% of their assets to charities each year and asks companies in this space to contribute 1% of their earnings to similar causes.
Users can participate in the initiative anonymously and are not required to make their contributions public. If everyone donated 1% of their cryptocurrency assets to charity, they could collectively raise $ 20 billion.
In addition to raising money for “ great causes that are in urgent need of support, ” the organization’s co-founder also says it could ease the tax burden on cryptocurrencies for donors – and confuse “ the idea that crypto is bad ”. send.
Winners and Losers
At the end of the week, Bitcoin is up $ 57,380.31, Ether at $ 2,880.41 and XRP on $ 1.56. The total market capitalization has run out $ 2,212,553,216,270.
Among the top 100 cryptocurrencies are the top three altcoin gainers of the week Phantom, Polygon and UN. The only altcoin loser is Forehead.
To learn more about crypto pricing, read Market analysis from Cointelegraph.
Most memorable quotes
“After the current lawsuit, Ripple will go public. The current CEO wants to do that. Chris wants to do that.”
Yoshitaka Kitao, CEO of the SBI Group
“Facebook bought 0 bitcoin for a total price of $ 0 in a strategic business move to have fun by staying poor.”
“If you sold #Bitcoin because Facebook didn’t buy one in Q1 and you also think you are GMI, then I have some unfortunate news for you.”
Travis Kling, CEO of Ikigai
“HMRC suspects an increasing amount of hidden wealth is slipping through its fingers thanks to the rise of cryptocurrencies.”
David Jones, UHY Hacker Young director
“With blockchain analysis, we say again and again that all this activity is in this ledger forever, and if you did something bad 10 years ago, you could be caught and arrested for it today.”
Sarah Meiklejohn, computer scientist
“Rather than investing in cryptocurrency stuff, I want to focus on the extreme life extension technologies because when you die, you can’t enjoy your life.”
Roger See, Founder of Bitcoin.com
“This recent recovery in Altcoin Market Cap is much sharper than the recovery after returning in February.”
Forecast of the week
Ether always comes second to Bitcoin, says Shark Tank’s Kevin O’Leary
Despite ETH further strengthening against BTC this week, Shark cage star Kevin O’Leary still believes Bitcoin will remain at the top of the crypto rankings.
Speaking to CNBC, he stated, “Bitcoin will always be the gold, Ethereum will always be the silver.”
The Shark cage star said he owned crypto since 2017 and announced last month that he would allocate 3% of his wallet to Bitcoin.
Earlier, however, he called digital assets ‘crypto crap’ and Bitcoin ‘not real currency’.
FUD of the week
DeFi has been hacking and exploiting a total of $ 285 million since 2019, Messari reports
The rising popularity of decentralized finance since 2019 has made the emerging market segment a target for hackers and opportunistic profiteers.
Crypto research firm Messari says DeFi protocols have lost more than $ 284 million to hacks and other exploit attacks since 2019.
Nearly half of the DeFi hacks covered in the Messari report were flash loan attacks, while others took advantage of temporary defects in prize oracle feeds.
County in New Jersey to earn 250% profit from seized cryptocurrencies in 2018
US prosecutors have sold crypto that they seized in 2018.
The digital assets, seized during a drug visit, were initially estimated at $ 57,000. Three years later they have made a profit from it $ 141,000.
Monmouth County Prosecutor Christopher Gramiccioni said the county is the first state-level agency to complete the forfeiture and liquidation of cryptocurrency assets.
“This will serve as an effective template for state law enforcement agencies in the cryptocurrency market – a place where we can expect the proceeds of crime to remain hidden,” he added.
Binance could face heavy fines on stock tokens, the German regulator warns
Binance’s attempts to bridge traditional markets with the cryptocurrency space through fractional stock tokens have caught the attention of Germany’s financial regulator.
BaFin has warned that the world’s largest crypto exchange could face heavy fines for launching security tracking tokens without an associated investor prospectus.
Binance launched fractional stock tokens for Apple, MicroStrategy and Microsoft on Monday, adding tokens for Coinbase and Tesla.
The exchange told Cointelegraph: “Binance takes its compliance obligations very seriously and is committed to following the requirements of local regulators wherever we operate. We will work with regulators to answer any questions. “
Best Cointelegraph Features
Roger Ver’s Next Life: Cryonics Meets Crypto
With a fortune he vaguely refers to as being in the billions, the Bitcoin Cash proponent plans to shift his investment focus to cryonics over the next decade in hopes of improving experimental technology.
100 Fascinating Facts About Cryptos Past 100 Days
A $ 100 investment in DOGE 100 days ago would be worth $ 2,742 now, while the same investment in BTC today would be worth $ 130.
Biden’s Capital Gains Tax Plan To Take Crypto From The Moon To Earth?
More taxes can cause volatility in the short term, “but in the long term you may see more demand for DeFi applications and other collateral cases.”