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Bitcoin’s dismal closing, Tesla’s crypto sale, Ether’s jaw-dropping wave

Comes every Saturday, Hodler’s Digest will help you track every single important news that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and more – a week on the Cointelegraph in one link.

Top stories this week

Bitcoin bulls attack $ 57,000, and altcoins rally when April ends

A sudden bullish rise surprised traders as April neared its end, with Bitcoin staged a 10% rally in a matter of hours.

Highs of $ 58,448.34 helped erase recent losses ̵

1; but not completely.

Data from Bybt show that BTC’s price fell 1.98% last month. This is the first time the world’s largest cryptocurrency has closed April in red since 2015.

A contributing factor to optimistic market activity may have been linked to an astonishing increase in revenue 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 value for shareholders.”

Ethereum’s market value exceeds platinum for the first time

While Bitcoin had lost its footing most of the week, Ether has gone from strength to strength.

Nr. 2-cryptocurrency continues to break new full-time highs – with the latest record of $ 2,879.75 set on Saturday.

Overall, 2021 promises to be a crucial year for the Ethereum blockchain as the long-awaited Eth2 upgrade takes shape. The network is set to differentiate itself from its proof-of-work consensus algorithm and switch to proof-of-stake, which is set to reduce costs and save energy.

On $ 330 billion, Ether’s market coverage has now exceeded industry giants including Procter & Gamble and PayPal – not to mention platinum. The digital asset is also a stone’s throw away from overtaking The Walt Disney Company and Bank of America.

Tesla posts huge profits from Bitcoin sales in Q1

Tesla sold part of its Bitcoin holdings in the first quarter with a profit of $ 101 million as a result.

The manufacturer of electric cars announced that it had collected Bitcoin worth 1.5 billion. Dollars in February, and this sale amounts to approx. 10% of its cryptostash.

Crypto Twitter did not respond kindly to the news, with comedian Dave Portnoy accusing Elon Musk of profiting from a pump-and-dump constructed by his public statements supporting BTC.

Musk denied those allegations, saying he had not sold any of them his Bitcoin. He also explained that Tesla completed this transaction “essentially to prove Bitcoin’s liquidity as an alternative to keeping cash in balance.”

Meanwhile, Musk has continued to become Dogecoin champion on his Twitter feed – in front of him as a host Saturday Night Live The 8th of may.

Coinbase offers customers away to buy crypto using PayPal

There were a number of milestones this week when it comes to simplifying the process of buying crypto … and using it as a payment method.

Coinbase announced that users in the US will now be able to purchase digital assets using debit cards and bank accounts linked to their PayPal profiles – giving them a wider range of digital assets than PayPal alone provides.

Meanwhile, rival exchange Gemini announced that it is teaming up with Mastercard to release a credit card that will allow crypto holders to use digital assets and 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 name signings.

And, if you feel hungry, Bubba Gump Shrimp’s seafood restaurants will start accepting Bitcoin and other cryptocurrencies in the next 90 days.

Giving Block launches “Crypto Giving Pledge” to increase donation efforts

A leading crypto-donation platform has launched a new initiative designed to help the digital assets sector become the most charitable in the world.

Giving Block has launched a “Crypto Giving Pledge” that encourages investors to pledge at least 1% of their holdings to charities each year and asks companies in this space to contribute 1% of their income to similar causes.

Users can sign up for the initiative anonymously and without having to disclose their contributions. If everyone in crypto donated 1% of their holdings to charities, they could raise a total of $ 20 billion.

In addition to raising money for “amazing causes in critical need of support,” the organization’s co-founder also says this can erase crypto-tax burdens on donors – and “put this idea that crypto is bad.”

Winners and losers

At the end of the week, Bitcoin is at $ 57,380.31, Ether at $ 2,880.41 and XRP by $ 1.56. The total market value is on $ 2,212,553,216,270.

Among the top 100 cryptocurrencies are this week’s top three altcoin winners phantom, Polygon and UN. The only loser of altcoin is Forehead.

For more information on cryptocurrencies, be sure to read on Cointelegraphs market analysis.

Most memorable offer

“Following the current lawsuit, Ripple will be released. The current CEO wants to do that. Chris will do it. ”

Yoshitaka Kitao, SBI Group CEO

“Facebook has bought 0 bitcoin for a total price of $ 0 in a strategic business move to have fun staying poor.”

Texan Hodl

“If you sold #Bitcoin because Facebook did not buy anything in Q1 and you also think you are GMI, I have some unfortunate news for you.”

Travis Kling, Ikigai CEO

“HMRC suspects an increasing amount of hidden wealth is slipping through its fingers thanks to the rise in cryptocurrencies.”

David Jones, UHY Hacker Young Instructor

“With blockchain analysis, what we say over and over again is that all this activity is on 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

“Instead of investing in cryptocurrency stuff, I want to focus on the extreme technologies for life extension, because if you die, you can no longer enjoy your life.”

Roger See, Founder of Bitcoin.com

“This recent recovery in the Altcoin Market Cap is much sharper than the post-retrace recovery in February.”

Rekt Capital

This week’s prediction

Ether always comes in second place after Bitcoin, he says Shark Tank’s Kevin O’Leary

Despite further strengthening ETH against BTC this week, Shark Tank star Kevin O’Leary still believes Bitcoin remains at the top of cryptocurrency rankings.

Speaking to CNBC, he declared: “Bitcoin will always be gold, Ethereum will always be silver.”

That Shark Tank star said he had owned crypto since 2017 and announced last month that he would allocate 3% of his portfolio to Bitcoin.

However, he has previously referred to digital assets as “cryptocurrency” and Bitcoin as “not a real currency.”

Week FUD

DeFi hacks and exploits a total of $ 285 million since 2019, Messari reports

The growing popularity of decentralized finance since 2019 has seen the new market segment become a target for hackers and opportunistic profiteers.

Crypto research firm Messari says DeFi protocols have lost more than $ 284 million to hacks and other exploitation attacks since 2019.

Nearly half of the DeFi hacks covered by the Messari report were flash loan attacks, while others exploited temporary shortcomings in prisorakel feeds.

County in New Jersey earns 250% profit from crypto seized in 2018

Prosecutors in the US have sold crypto, they confiscated in 2018.

The digital assets seized during a drug bust were initially valued at $ 57,000. Three years later and they have generated a profit on $ 141,000.

Monmouth County Prosecutor Christopher Gramiccioni said the county is the first state body to complete the forfeiture and liquidation of cryptocurrency assets.

“This will serve as an effective template for government law enforcement agencies in the cryptocurrency market – a place where we can expect revenue from crime to continue to be hidden,” he added.

Binance could face large fines due to the share token, warns the German regulator

Binance’s attempts to bridge traditional markets with the cryptocurrency area through fractional share tokens have brought to the attention of Germany’s financial regulator.

BaFin has warned that the world’s largest cryptocurrency exchange could face heavy fines for launching security-tracking tokens without an accompanying investor prospect.

Binance launched the fractional stock token for Apple, MicroStrategy and Microsoft on Monday, adding tokens to Coinbase and Tesla.

The exchange told Cointelegraph: “Binance takes its compliance obligations very seriously and is committed to complying with local regulatory requirements, no matter where we operate. We will work with regulators to resolve any issues they may have. ”

Best Cointelegraph Features

Roger Verse next life: Cryonics meets crypto

With a fortune he vaguely refers to as being in the billions, the Bitcoin Cash spokesman intends to shift his investment focus to cryonics in the next decade in hopes of improving the experimental technology.

100 fascinating facts about cryptos last 100 days

A $ 100 investment in DOGE 100 days ago would now be worth $ 2,742, while the same investment in BTC would be worth $ 130 today.

The city’s tax plan for capital gains should pull crypto down to earth from the moon?

More taxes may cause short-term volatility, “but in the long run you may see more demand for DeFi applications and other cases of collateral.”

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