The cryptocurrency market has been on a roll and bullish momentum appears to only be further escalated. Here are the top developments in the crypto sphere that took place in the past week:
- Bitcoin (BTC) finally crossed the strong resistance level of $60,000 and has stabilized in the region while Ethereum (ETH) established another all-time high at $2,199
- The cryptocurrency market surpassed a market capitalization of $2 trillion – a testament to the mammoth of a market it is destined to become
- Kraken, the fourth-largest cryptocurrency exchange has hinted towards going public in 2022 following Coinbase’s NASDAQ listing on the 14th of April
- The second oldest bank in the US, State Street, has entered the crypto market with its forex exchange, Currenex, providing infrastructure to a crypto trading platform
- Caruso properties, one of the largest privately-held real estate firms, has incorporated payment of rent in cryptocurrencies
- Celebrities like Paris Hilton and Lindsay Lohan has becoming increasingly interest in the NFT market as it takes off while Gucci and Playboy has also announced their debut in the field
- In the Ripple lawsuit, odds are tipping in the favor of Ripple Labs as the firm was granted access to the discovery documents of BTC and ETH while the SEC was denied access to the financial statements of Ripple Labs’ executives – all the while XRP skirts close of $1.50
In the global sphere,
- Asian market’s love-hate relationship with cryptocurrencies continues. After the alarm bells ringing in Thailand and Korea, they have reached Sri Lanka. The Sri Lankan Central Bank has warned the population about the risks of investing in cryptocurrencies.
- Vietnamese miners are panicking and selling off mining equipment in large quantities as a market crash is imminent.
- The Chinese government has launched a digital Yuan – e-Renminbi. The digital currency, if successful, may have the potential to overthrow the king of the market – Bitcoin.
- A Romanian public university, Lucian Blaga University of Sibiu, has announced to start accepting tuition payments in Elrond cryptocurrency in order to support the local project