It’s been a stellar week for the digital coin Ether as its price hit an all-time high of over $3400 on Tuesday, extending its rally with gains of more than 300% this year. The coin has quadrupled in value since the start of 2021 and some experts believe there’s more to come. Ethereum is the world’s second-largest cryptocurrency and has seen a growth of over 320% from the beginning of the year compared to Bitcoin’s 98% – which is still very impressive.
The Shark Tank legend, Mark Cuban, brings light to the Dogecoin phenomenon and it being “the craziest thing ever,” urges Ellen to allow it in the show’s fan shop. Still holding the number one position as the most popular day-time talk show in the U.S., Ellen Degeneres caught the attention of her millions of viewers […]
TIME Magazine and WeWork join the digital currency trend by enabling crypto payment options for their services, alongside other industry giants like PayPal, Venmo and Tesla. Could these companies be the influencers cryptocurrency needs to gain worldwide recognition?
Central banks have been looking into issuing their own central bank digital currencies (CBDC) and the UK has their eyes set on one of their own. China has been in the lead among major economies for years as they have already started extensive testing on a pilot last year. But now the UK is hot on their heels with ideas for their own CBDC. Of Course, a lot more planning and research is involved when structuring a new digital version of a major economy’s currency. And the UK is doing all the necessary research to ensure a smooth-running operation.
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Turkey has now announced that they are introducing a ban on payments using cryptocurrency. The Bitcoin price has dropped somewhat since the announcement and currently sits at around $56k, down from an all-time high of above $63k last week. The Central Bank of the Republic of Turkey (CBRT) has warned that cryptocurrencies or other crypto assets will be prohibited as a form of payment, both directly and indirectly, for the purchase of goods and services within the country. This ban will come into effect on the 30th of April, 2021.
Jesse Powell, CEO of Kraken, which is the fourth largest cryptocurrency exchange in the world in terms of volume, fears that a “crackdown” on cryptocurrencies is imminent. There have been some recent warnings from various officials about the use of cryptocurrencies for money laundering and the financing of terrorist organizations. U.S. Treasury Secretary Janet Yellen, and European Central Bank President Christine Lagarde, have brought these concerns to light.
Tomorrow, on April 14, 2021, the US-based crypto exchange Coinbase will be going public with its much anticipated IPO. The crypto market is preparing anxiously for this event as the Bitcoin price has reached nearly $62,000 over the last week and the total cryptocurrency market capitalization has exceeded $2 trillion. The company has been showing incredible results throughout the first quarter of 2021 with an estimated profit of $730 million to $800 million. This shows double their profits for the entire 2020 which was $322 million in a total revenue of %193 billion.
Monday 5 April 2021 will go down in history as the day when the total market capitalization of the digital asset industry peaked at over $2 trillion. This is an all-time high for the crypto market and reflects the recent increase in investment demands from major companies in both the institutional and retail sectors. Bitcoin has managed to hold a $1 trillion market cap for an entire week which has helped to lead the surge in the overall crypto market value.
Visa has announced the development of a pilot program that would allow its users to settle transactions with cryptocurrencies by utilizing Ethereum blockchain. As large corporations start exploring the use and benefits of cryptos within their industries, we could see blockchain technology becoming a big part of everyday life in terms of trade and commerce.
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