The review of the week’s top news allows you to stay on top of the market. And at Lumi, we want our users’ assets to grow. To keep up with the market, you need to do more than just read the “daily” tweets. Pay more attention to detailed study of the market, turn on notifications for primary news feeds and price updates. For example, last night, the whole world was celebrating a new all-time high – ETH broke $2,000. Surprisingly, you might not have seen this news this morning since the same Twitter feed is filled with recent news every second. In today’s world, the flow of information is too fast, and trends change even quicker. Now we will sift through all the information garbage and tell you about the main events in the world of cryptocurrencies.
1. ETH is worth $2k. It would seem to be self-sufficient news, but there is something to add. With the growth of the second cryptocurrency, the transaction cost also increased. According to Bitinfocharts.com, transaction fees overall jumped 77%, with the average transaction value in Ethereum rising from $ 12.96 to $ 22.97.
2. Visa will use the USDC stablecoin for transactions on its payment network. Visa has launched a pilot program with payment and crypto platform Crypto.com, and plans to offer this option to more partners later this year.
“We see increasing demand from consumers across the world to be able to access, hold and use digital currencies and we’re seeing demand from our clients to be able to build products that provide that access for consumers,” Cuy Sheffield, head of crypto at Visa, said.
By the way, over the past week, Visa shares have grown significantly, which can be seen in the chart below.
3. Mogo, a digital payments and financial technology company in Canada, launched first Bitcoin cashback mortgage. “Unlike traditional reward programs, bitcoin rewards have the unique characteristic of being an asset class that can rise in value over time – $3,100 invested in bitcoin 5 years ago would be worth over $350,000 today,” continued David Feller. The company believes that cryptocurrency assets have a huge potential that needs to be developed. The country of maple syrup takes 10th place in Google trends for the bitcoin query.
4. Let’s talk about Bitcoin. In recent weeks, the first cryptocurrency has been marking time, fueling even more interest from traders and investors. For the third week, an incredible jump is expected from Bitcoin, but so far, the price is holding around $55-59k. Let’s also remember the miners. In March, Bitcoin miners earned a record $1.5 billion. At the same time, after another recalculation, the complexity of Bitcoin mining increased to a new maximum of 23.14 Tons. The average hashrate for 14 days increased from 156 EH/s to 165 EH/s — an increase of 9 EH / s corresponds to 90,000 AntMiner S19 Pro devices from Bitmain. Despite the lack of crazy news about Bitcoin, you can recall three high-profile statements of opinion leaders about Bitcoin.
On Thursday, bitcoin’s main opponent on Twitter, Peter Schiff, wrote, “I was wrong about Bitcoin.” With this tweet, he ended an era of jokes about his pessimistic attitude to the first cryptocurrency. A little sad because now we will not see the memes and snarky remarks of BTC holders.
The second statement was from Billionaire Mike Novogratz. The CEO of Galaxy Digital said that Bitcoin by capitalization would soon approach gold as big Wall Street players enter the crypto space. The current market capitalization of gold is $10.9 trillion, and Bitcoin is anchored at $1.1 trillion. And the last, Willy Woo: “You’d be crazy to sell Bitcoin right now. 2021 is the year of “crazy bullishness” for Bitcoin as the current price rally enters its final explosive phase,” says blockchain analyst Willy Woo.
5. PayPal now allows users to pay for purchases with crypto (BTC, ETH, LTC) if the user has sufficient funds in a particular crypto to pay. PayPal is not the first payment app to offer support for cryptocurrency. In 2018, its competitor, Square, launched support for Bitcoin on the Cash App. New features could significantly boost the use of digital assets in everyday commerce.
6. Goldman Sachs will provide its clients with a full range of investment tools in Bitcoin and other digital assets. Earlier, Morgan Stanley announced similar plans. Thus, the clients of the two leading investment banks in the world will soon have access to cryptocurrencies. Soon, clients of two of the world’s preeminent investment banks – Goldman and Morgan Stanley – will have access to a nascent asset class. A new era is on the way.
7. A user lost 17.1 BTC due to an app downloaded from the App Store. In February 2020, a user decided to check the balance of their BTC wallet and downloaded an app with an icon similar to the Trezor logo. By entering his seed phrase in the app, he instantly lost the cryptocurrency. It is important to note that the Trezor hardware wallet does not have an iOS app. The victim said that he was disappointed in Apple and the App Store, which is positioned as a secure app store.
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!