The weeks go by so fast that sometimes you forget to count the time. It is difficult to accumulate the amount of information that appears on the web every day. We keep our eyes on the main news sources and monitor the market 24/7. Ethereum and Doge got all the attention this week. It all started because ETH beat the new ATH (last $3500).
After that, Kevin O’Leary, investor and star of the TV show Shark Tank, said in a comment to CNBC that Ethereum “will always be number two” after Bitcoin. But the silver currency community is already betting on the next ATH. Now the capitalization of the second cryptocurrency has reached $ 400 billion.
Bitcoin may remain the first currency, but ETH will always step on its heels, having huge advantages in the form of new financial instruments.
Also, due to more hype and Elon Musk, DOGE again pleases with a price increase. There were one thousand seven hundred fifty-seven tweets under #Dogearmy in the last hour. Everyone is waiting for an interview on SNL with the Tesla CEO. Therefore, the excitement around the meme cryptocurrency is only growing. Rumor has it that someone is betting on whether the guest will mention their favorite currency. By the way, Musk’s games did not end there. Today, he said that investing in cryptocurrency should be done with caution. At the same time, it is still full of speculation. Then he got into the car, leaving his admirers bewildered.
We turn to the top news of the week. Fasten your seat belt!
1. Vitalik Buterin became the youngest crypto billionaire (27-years-old) after lifting ETH above $3,000. Now, at the address of the founder of Ethereum, is 333,520 ETH worth $1.055 billion at the current exchange rate.
2. Venezuela will start paying benefits in petro cryptocurrency. This decision is aimed at combating hyperinflation, which in 2020 amounted to 2959.8%. Now the minimum wage in Venezuela has reached $ 3, which is useless for real residents. So to somehow get closer to a decent life, citizens have switched to the digital sphere, and of course, interest in the cryptocurrency industry has grown significantly.
3. For fun, a Tiktoker created the SCAM cryptocurrency, and an hour after the launch, the total capitalization of the asset was $70 million. The blogger just wanted to make fun of other useless coins on the crypto market, issued 10 trillion coins for $400, came up with the name “Simple Cool Automatic Money” (SCAM) and told a few friends about them.
In a few days, SCAM traveled a path that took other assets years. Lewis himself eventually took his idea more seriously: the blogger burned 99.5% of the emission, and on the site added further plans for the development of the currency: audit, mining of new tokens, development of the partner network.
4. eBay is exploring cryptocurrency payment options.
In a CNBC interview, eBay (NASDAQ: EBAY) CEO Jamie Iannone said the company is looking at payment options including cryptocurrency. Iannone also said the company is exploring opportunities on how to enable NFT sales on the eBay platform.
If eBay moves to offer cryptocurrency payments, it would follow PayPal, Square, Tesla, and others.
5. Recently, the American company Marathon launched its mining pool on the bitcoin network, which fully complies with US regulations. Today, the pool has officially begun censoring blocks, adding the first block to the blockchain, which contains a note of “compliance with the US Foreign Assets Control requirements.” Transactions related to the addresses of scammers, mixers and other services objectionable to the government will be excluded from such blocks.
So far, the pool has an insignificant capacity. Still, if desired, the US authorities will easily disconnect competitors who do not want to cooperate and clear the way for blocking “incorrect” transactions.
5. The Central Bank of Iran (CIB) has confirmed a ban on operations with cryptocurrencies mined outside the country. According to media reports, the decree specifies that organizations can only use digital assets obtained “through legal channels within Iran.” However, how exactly the central bank intends to control the flow of assets from abroad is unknown.
Stay tuned to our wallet, enjoy the usable interface and transaction security, and check back for updates and news on Twitter, Telegram, Facebook, Reddit, and LinkedIn. Let’s learn the cryptocurrency market together step by step!