This week had a significant milestone for Bitcoin (BTC) adoption – the first nation-state was officially onboarded onto the Bitcoin standard and began keeping BTC as a treasury reserve asset – yet Bitcoin still has a mountain to climb. At the same time, crypto markets experienced a significant correction that resulted in over USD 2.7bn in liquidations in one hour. However, Bitcoin’s fundamentals remain strong despite the recent move down, said the analysts, while countries like Ukraine continue to advance towards crypto legalization.
Meanwhile, Cardano (ADA) lost some of its momentum due to issues with the much-anticipated launch of smart contract functionality and then lost even more momentum when the launch came even closer. Despite that, it was a great week for solana (SOL) which doubled last week, while ethereum (ETH) reportedly decoupled from BTC. Also, Standard Chartered revealed its USD 26,000 – USD 35,000 price prediction for ETH, while also stating that BTC might rise to USD 175,000 in the long run.
Finally, Coinbase revealed spicy details from its skirmish with the US Securities and Exchange Commission, and even briefly “relisted” XRP. Mastercard doubled-down on its crypto strategy with CipherTrace acquisition, while Robinhood introduced new crypto features. And while the regulatory issues are still plaguing crypto exchanges in South Korea, Australian banks refuse to plead guilty to “bullying” allegations by local crypto firms.
This is how volatile this crypto week has been – just as volatile as these mood-swinging crypto jokes.
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Haha (laughs nervously).
Discover the new you.
What would we do without them?
Where’s the beef?
“From each according to his ability, to each according to his needs.”
Here we go again.
Crypto is simple. I suppose.
How to fight regulators 101.
This is fine.
This time it will be USD 1m for sure.
Sounds like a promising ICO. I’m in.
There will never be enough.
YOLO.
Obviously a security.
Ultrasound platforms.
Reject society, return to monke.
Unbank the banked.
It was all about ether rocks all along.
99% of traders don’t want you to know this secret.
Solid.
Have a good weekend everyone!