Bitcoin Corrects to $ 50k Levels, Ethereum ETFs Record Impressive Numbers, Chinese Traders Turn to Chia Mining By BTC Peers


© Reuters. Weekly Market Roundup: Bitcoin Corrects to $ 50k Levels, Ethereum ETFs Record Impressive Numbers, Chinese Traders Turn to Chia Mining

Bitcoin started the week on a negative note. The leading cryptocurrency fell below $ 50k for the week and has been struggling to hold the $ 50k benchmark. Interestingly, in the face of the collapse, Bitcoin transaction fees rose to over $ 50, with the number of unconfirmed transactions exceeding 100,000. For the first time since 2018, Bitcoin’s market dominance fell below 50%. Bitcoin received a surprise endorsement from Banco Popular. from China. The main bank described Bitcoin as an investment alternative. Meanwhile, Goldman Sachs (NYSE 🙂 included Bitcoin in its asset performance report to date. And unsurprisingly, the digital asset was at the top of the list, contrary to the popular narrative of people like billionaire Ray Dalio, who believe governments could kill Bitcoin to maintain their monopoly on money, the bank of Leading investment Morgan Stanley (NYSE 🙂 believes that government-backed digital currencies and Bitcoin could coexist. WeWork has joined the list of companies that accept Bitcoin and other cryptocurrencies as a form of payment. The American real estate company also noted that it would add digital assets to its balance sheet. First Foundation (NASDAQ 🙂 has entered into a strategic partnership with Bitcoin firm NYDIG. Venmo, a digital wallet app with over 60 million active users, has enabled the purchase of Bitcoin. and selling on their platform Nigerians are defying the Bitcoin ban by officials. Statistics reveal that p2p trading in cryptocurrency has risen 27% since the directive of the nation’s central banks. The United States General Services Administration (GSA) has continued to sell Bitcoin. On Friday, the agency auctioned $ 500k worth of Bitcoin. The battle for the true identity of Satoshi Nakamoto, the founder of Bitcoin, has continued to rage. This time, Dr. Craig Wright, an Australian-born entrepreneur and computer scientist, claims that he created the digital asset. And like others like him, he has moved to take legal action. Crypto Mom and SEC Commissioner Hester Peirce have been forced to admit that banning Bitcoin will be difficult. Ethereum posted a host of major milestones over the past week. First, the digital asset hit a new high of more than $ 2,600. This raised the value of the Ethereum staked on the ETH 2.0 share contract to over $ 10 billion. The number of active Ethereum addresses also increased to a new high of 771k. Meanwhile, the second largest cryptocurrency by market capitalization was able to settle $ 1.5 trillion in transactions in the first quarter of 2021. Rothschild Investment has increased its share of cryptocurrencies with a $ 4.75 million purchase of Grayscale’s Ethereum Trust. JPMorgan (NYSE 🙂 is buying Expert Blockchain and Ethereum developers, an indication that the company might be looking to implement crypto-based solutions. Three Ethereum ETFs that were previously approved by Canadian regulators finally went public on the Toronto Stock Exchange. Ethereum miners have started increasing the gas cap capacity. from 12.5 million to 15 million. Closing a report from Weiss Crypto Ratings states that Ethereum is still the boss and there may not be an Ethereum Killer anytime soon. Other news Right after the direct listing of COIN on Nasdaq Executives from the major US exchange, Coinbase, sold close to $ 5 billion in shares. South Korean regulators have created an inter-agency team to crack down on the use of f cryptocurrencies for illicit activities. Last week was a great one for the DOGE meme coin. Added as a paid option on Newegg. Balancer Labs is offering white hat hackers up to $ 2 million for reporting vulnerabilities in their recently released Balancer V2. Prior to its release on May 5, Uniswap V3 was released on all four. Ethereum testnets. The CEO of a Turkish exchange took around $ 2 billion belonging to cryptocurrency traders. The new fad for Chinese miners is no longer ASIC or GPU mining. They have turned to Chia mining, a new type of protocol that uses the storage capacity of the hard drive for its consensus mechanism. Following its stock token offering, Binance, the leading cryptocurrency exchange, is now under scrutiny from regulators. The objective is to try to define the regulations that can be applied to the new product. Continue reading on BTC Peers

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