Comes every saturday Hodler’s digest will help you keep track of every single important message that happened this week. The best (and worst) quotes, highlights of adoption and regulation, leading coins, predictions, and more – one week on Cointelegraph in one link.
Top Stories This Week
Bitcoin suddenly hits $ 60,000 as a new resistance struggle liquidates $ 850 million
A bout of overdue volatility has hit the crypto markets, pushing Bitcoin to highs $ 61,276.67 on Saturday.
Sudden pressure allowed BTC / USD to leave the company Price range of $ 50,000 in the early morning hours. That move had taken weeks, and the digital asset tried (and failed) repeatedly to crack above $ 60,000 for most of March.
Analyst Lex Moskovski said Bitcoin is now rising to a new all-time high, writing: “Being a bear is expensive.”
It is unclear how much staying power this rally has, however, and as we’ve seen over the past few months, erratic market moves don’t always last on weekends.
The favorable market conditions led to new all-time highs for Ether and Binance Coin on Saturday … and another altcoin also celebrated a comeback.
XRP tops $ 1 for the first time since 2018: what’s behind the new rally?
XRP has had a remarkable week, and in the past seven days the price has almost doubled. On Tuesday, the altcoin hit the $ 1 zone for the first time since March 2018, with the price rising steadily in the days that followed.
It is currently trading at around the next level of resistance $ 1.20and got some to target a macro sales wall from $ 2 that goes back to December 2017.
XRP has now regained the coveted position of the fourth largest cryptocurrency by market capitalization. The increase in trading volume could be related to Ripple unveiling a new acquisition designed to improve cross-border payment options.
There was also some positive legal news for Ripple this week. Ripple Labs has been granted access to the SEC’s documents expressing the agency’s interpretations or views on the subject of crypto assets.
Attorney representing Ripple CEO Brad Garlinghouse believes the SEC’s lawsuit may be “over” if he finds evidence that regulators have classified XRP as Bitcoin or Ether-like.
Speaking to Cointelegraph, David Schwartz, Chief Technology Officer of Ripple Labs, spoke urged US regulators To “look at the rest of the world,” America warns of falling behind on crypto and blockchain regulation.
Coinbase’s revenue for the first quarter is $ 1.8 billion ahead of Nasdaq listing
It’s been a week of positive statistics for the crypto sector. We saw Total market capitalization reached $ 2 trillionThat means the industry is now worth as much as Apple. There was a major milestone as 100 cryptocurrencies were secured their own market capitalization of $ 1 billion for the first time. It was also revealed that The crypto industry received more funding in the first quarter than all of last year.
Next week will also be an important one as Coinbase prepares for its stock market debut. And before the direct listing on Wednesday, we got a glimpse of the company’s finances – and showed that revenue had been hit $ 1.8 billion from January to March.
The stock market’s numbers appear to be very healthy indeed, no doubt due to the bull run that occurred in the first quarter. The net income was estimated at between $ 730 million and 800 dollars Millions for the period – with monthly active users exceeding now 6 million.
But not everyone cracks the champagne. Some analysts have warned that Coinbase’s $ 100 billion valuation is way too high.
David Trainer, CEO of investment research firm New Constructs, wrote in a statement to clients: “It is difficult to make a clear case that the company can justify the high expectations that go into its valuation given the increasing competition in a mature cryptocurrency trading market and the unsustainability of its current market share and margins.”
Paris Hilton publishes a surprisingly well-informed article on NFTs
Paris Hilton has written a passionate article about NFTs declaring that she sees them as “the future of the creative economy”.
The entrepreneur and former reality star appears to be aiming to position herself as an authority on the NFT space, at least for a mainstream audience, as she is poised to release a new drop soon.
Celebrating her role in digital art and fashion – not to mention bringing the trading card world into the 21st century – she wrote:
“Some of these applications can even change the way we live. What if we could use NFTs as security for physical items? Or to act for them? “
Hilton sold their first NFT in August 2020 before the 2021 Mania hit – an NFT that features a painting of her cat that she was sold for $ 17,000. She donated all of the proceeds to charity.
The couple get married on the Ethereum blockchain for $ 587 in transaction fees
Coinbase employees Rebecca Rose and Peter Kacherginsky got married using the Ethereum blockchain and gave the vows “for rich or poor” a whole new meaning.
In addition to a traditional Jewish wedding ceremony, Kacherginsky wrote an Ethereum smart contract called Tabaat, which issued symbolized NFTs, the “rings.”
The ceremony itself consisted of two transactions: the transfer of the NFT rings from the contract to Rose and Kacherginsky. It took a total of four minutes for the ceremony to be validated and carried out by the Ethereum network $ 50 in miners fees.
In contrast, the average physical wedding in the United States costs approximately $ 25,000.
The NFTs show an animation of two circles merging into one and were illustrated by artist Carl Johan Hasselrot.
Rose wrote on Twitter: “In contrast to physical objects, the blockchain is forever. It’s unstoppable, unstoppable, and doesn’t require permission from anyone. The way love should be What could be more romantic than that? “
Announcement of the week
Markets Pro delivers an ROI of up to 1,497% as a quant-style cryptanalysis arrives for every investor
A month has passed since then Cointelegraph Markets Pro started – offers every investor professional information on the crypto market.
New numbers this week showed that 41 of the 42 trading strategies tested by Markets Pro are currently outperforming Bitcoin’s investment returns, with 36 of them winning against an evenly weighted basket of the top 100 altcoins.
Subscribers are offered two main features. The first is the VORTECS ™ Scorewhich is derived from an algorithm that examines several different variables (including sentiment, tweet volume, price volatility, and trading volume) and compares them to historically similar market landscapes.
And the second is NewsQuakes ™: Alerts about events that had a significant impact on the price of an asset in the next 24 hours.
Cointelegraph Markets Pro is available exclusively to subscribers monthly at $ 99 per month or annually with two months off.
Winner and Loser
At the end of the week, Bitcoin is at $ 60,531.89, Ether at $ 2,165.46 and XRP at $ 1.31. The total market capitalization is 2,054,795,567,223 USD.
Among the top 100 cryptocurrencies are the top three altcoin winners of the week Bitcoin gold, KuCoin token and XRP. The top three altcoin losers of the week are Klaytn, Holo and Dent.
For more information on crypto pricing, see Market analysis by Cointelegraph.
The most memorable quotes
“It is fascinating to see that ETH has exceeded BTC by 250% since it was founded. It only fell below its original price in BTC for the first 5 months of its existence in 2015. “
Raoul Pal, Co-founder of Real Vision
“The pandemic, quite frankly, has been a catalyst for institutional adoption, especially for Bitcoin and the narrative or use case surrounding digital gold.”
Tom Jessop, Loyalty
“Industries around the world economy are starting to decarbonise their businesses. We can do the same in crypto. We have the opportunity to decarbonise the industry. “
Crypto Climate Accord
“We need the United States to be a leader here. We need to adjust to this and make sure we use this technology to continue to be a world leader. “
Anthony Pompliano, Co-founder of Morgan Creek Digital
“Even though I’m a pro-crypto-pro-bitcoin maximalist, I wonder if Bitcoin should also be seen as a Chinese financial weapon against the US at this point in time.”
Peter Thiel, PayPal co-founder
“I don’t use crypto to buy fiat. I don’t use crypto to buy houses. I just want to keep crypto. And I have no plans to convert my crypto to cash in the future.”
Changpeng Zhao, CEO of Binance
“It’s not for nothing that $ XRP has technically taken all the necessary steps to be bullish. After the stock market delistings and write-offs by most CT firms, the market remained essentially short from both a positional and lateral standpoint. That can go much higher. “
Galloping Clark, Crypto derivatives trader
“If you look at gold as a market cap of $ 10 trillion, bitcoin accounts for about 10% of that, and if we believe bitcoin is a 100 times better version, then it’s pretty safe to say it’s a big one Chances are that Bitcoin will win a lot of gold and market share and more. “
Yassine Elmandjra, Analyst at Ark Invest
Forecast of the week
Ark Invest and JPMorgan expect Bitcoin to be between $ 130,000 and $ 470,000
JPMorgan Chase expects Bitcoin to be hit $ 130,000Ark Invest expects the market valuation of BTC to outperform that of gold.
Both funds’ bullish macro forecast revolves around the scarcity of Bitcoin, which has increased its popularity as a safe haven.
Bloomberg Intelligence also has high hopes when it comes to the second quarter of 2021. This week it was predicted that the second quarter would be more likely to see another surge to $ 80,000 than a capitulatory move to $ 40,000.
FUD of the week
Bitcoin to zero? Not while this Redditor has to spend $ 187,000
There have long been Doomsday predictions that Bitcoin prices will go to zero, but one person has sworn that it won’t, not on their watch.
Reddit user u / Substantial-Ad-5012 wrote: “Bitcoin will never go to zero in my life. Because I am ready and able to buy all Bitcoin ever mined for a cent each. “
In the unlikely event that Bitcoin actually gets noticed $ 0.01would only cost it $ 187,000 to pick up every coin in circulation – without taking into account the fact that up to 20% of all Bitcoin are inaccessible.
You are not alone. Binance CEO Changpeng Zhao told his supporters last March that they shouldn’t worry about BTC hitting zero. “As long as I have a dime left, it won’t happen,” he wrote.
Paxful rejects reports of customer data leaks
Recently, an anonymous online source was discovered trying to sell private customer and employee data allegedly from Crypto Exchange Paxful.
However, a company spokesman has told Cointelegraph that no customer data has been compromised.
The spokesman stated that Paxful was not a victim of a data breach, adding: “The employee information the person claims to have was illegally obtained from a third party that Paxful previously used. Paxful terminated its contract with this supplier in September 2020. “
The person who tried to sell the information claimed to have phone numbers, names and addresses, and other private information of the users – and the “dump” reportedly had more than 4.8 million entries.
Ledger faces a class action lawsuit from victims of phishing scams
Ledger and Shopify were involved in a class action lawsuit over a serious data breach that stole the personal information of 270,000 hard wallet customers between April and June 2020.
Phishing scam victims John Chu and Edward Baton filed a lawsuit against the crypto wallet provider and its e-commerce partner Shopify in California on Tuesday.
Plaintiffs alleged that the companies “negligently allowed the data breach, ruthlessly ignored it and then deliberately tried to cover it up”.
The data was stolen when fraudulent Shopify employees accessed the company’s ecommerce and marketing database for Ledger. The hackers then sold the data on the dark Internet.
“Had Ledger acted responsibly during this time, much of that loss could have been avoided,” they claim.
Chu lost $ 267,000 worth of Bitcoin and Ether, and Baton lost $ 75,000 worth of Stellar to phishing scams that embodied correspondence between the companies.
Best Cointelegraph properties
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I don’t own myself: The XRP price hike defies the SEC’s containment of crypto
Since the beginning of April, XRP’s price spike has been helped by high tweet volumes nearing relative highs.
Crypto endangered after Facebook leak: this is how hackers can exploit data
Attacks on digital asset exchanges and trading platforms have decreased dramatically in recent years, but data leaks still leave users vulnerable.