Last Week in Review: Will bullish April live up to expectations, and why’s Doge on Twitter?
The highlights from last week’s headline grabbers. All the important news, numbers and events from the world of crypto in one place.
News from the block
🧡 Bitcoin enters historically strong month in April
- April has in the past been a strong month for Bitcoin and US stocks, with the leading cryptocurrency showing historic average returns of 17% this time of year.
- Recent gains in US stocks are expected to positively affect cryptocurrencies, with analysts optimistic that this bullish trend will continue into April.
- Ready to invest in crypto? HERE are 5 tips to get you started.
💰 The US government sold their bag of seized Bitcoin
- The US government sold 9,861 of the 50,000 Bitcoin seized from the Silk Road marketplace, netting $215.5 million in the process, as reported by Forbes.
- The per-coin sale price was $21,877, and did not seem to negatively impact Bitcoin’s price, as some investors feared it would. The market leader gained 2.43% on the day of the transaction.
- The sale is part of the case against James Zhong, who illegally obtained over 50,000 Bitcoin from the Silk Road marketplace.
🐶 Twitter replaces blue-bird logo with shiba inu associated with Dogecoin
- Twitter changed its iconic blue bird logo to the Dogecoin logo.
- Elon Musk provided no explanation, but some speculate it was meant as a belated April fool’s joke.
- Dogecoin’s value jumped from $0.079 to $0.094 on the news, marking the coin’s highest value since November last year.
🪲 Ethereum doubles bug bounty as Shanghai (Shapella) approaches
- The Ethereum Foundation has doubled the maximum bug bounty to $500,000 for identifying vulnerabilities related to the upcoming Ethereum blockchain upgrade, Shapella, also known as Shanghai-Capella.
- Shapella is set to be released 12 April, which will enable validator staking withdrawals.
- The increase in reward is part of the last testing efforts before the upgrade. Bug bounties incentivise developers to identify and report security vulnerabilities in software systems.
🇨🇳 Change of heart for China?
- Chinese banks have expressed interest in offering financial services to digital currency companies in Hong Kong.
- Some institutions have reportedly visited the offices of digital currency firms to offer their banking services.
- Hong Kong’s extensive plans to allow international crypto firms to set up regional offices have encouraged the crypto industry to look into setting up shop in the region.
What’s the difference between Avalanche and Ethereum?
- Avalanche is part of the newer breed of blockchains that followed Solana.
- The founders promise a cheaper, faster and more scalable network than the network’s peers.
- Let’s break down the similarities and differences between Avalanche and Ethereum 👉 HERE.
Crunching the numbers
🌶️ 10% – The percentage of so-called “hot money” stored in Bitcoin. This is typical of prior bottom formation periods, says Glassnode. Hot money is a term for investors that buy and sell short-term, the opposite of HODLing.
💥 128 – The number of years since the founding of Credit Suisse, the Swiss bank that was recently bought by competitor UBS after the bank came close to bankruptcy in March. Protestors gathered outside the venue where the final board member meeting was held earlier this week.
💵 $500,000 – The reward Ethereum has promised developers for identifying vulnerabilities related to the upcoming Ethereum blockchain upgrade.
📈 30% – The increase in the price of Dogecoin after Twitter replaced its blue-bird logo with a picture of the Dogecoin mascot.
The crypto time capsule
Simply no way…
What is tokenisation?
- A token is a digital representation of a physical asset. It’s the same as owning the real thing, but the proof of you owning it lies not in your safe but is recorded on a blockchain.
- What’s the connection between tokenisation and Avalanche? Find out HERE.