PRICE CHANGE: WTD/YTD
- BTC ($44,515): -23% / +53%
- ETH ($1,400): -29% / +90%
- XRP ($0.41): -25% / +87%
- UNI ($22): -26% / +349%
- Crypto Market Cap ($1.4T): -23% / +79%
- BTC Dominance: 61%
STABLECOIN MARKET CAP CHANGE: WTD/YTD
- Tether ($35.1B): +2% / +67%
- USDC ($8.8B): +14% / +128%
THIS WEEK IN CRYPTO
- Coinbase filed for its S-1 and intends to list on Nasdaq under ticker "COIN". Q4 2020 rev was as big as all of 2019. In 2020 Coinbase generated $1.3 billion in revenue off its almost 3 million monthly transacting users. Link.
- Digital artist Mike Winkelmann, aka Beeple, made NFT history with his piece called "Crossroads", which sold for $6.6 million on the secondary market via Nifty Gateway. Beeple is also launching an auction for his piece titled "Everydays: the first 5000 Days" on Christie's. The listing has already received over 130 bids with the latest bid over $3 million. Link.
- Anchorage raised an $80 million Series C led by GIC with investment from Lux, a16z, and Blockchain Capital. Anchorage plans to bring on institutional clients like Tesla and Square and add more crypto assets to the 38 it already supports. Link.
- An analysis by crypto.com shows that the number of crypto users has almost doubled in a year to more than 106 million users. Link.
- Robinhood Crypto has gained 6 million new crypto customers in 2021 so far. The average transaction size is around $500. Link.
- Logan Paul sold $3.5 million in crypto art in less than 24 hours. Paul worked with Bondly, a Polkadot project, to create his own line of Pokemon-inspired NFTs. Link.
- On-chain stablecoin volume passed $360 billion for the first time, dominated by Tether (64% of volume), USDC (19%) and DAI (10%). Link.
- The ECB wants veto power on the launch of stablecoins such as Facebook's Diem in the eurozone. Link.
- The price of bitcoin fell to $48,000 this week as derivatives positions worth $6 billion were forced to liquidate by crypto exchanges. Traders were over levered and trading on margin, and were forced to liquidate when the price of bitcoin fell. Link.
- Several major banks across Asia have joined forces to build a cross-border central bank digital currency. The project wants to facilitate cross-border transfers in an easier and more cost effective way. Link.
- Crypto derivatives exchange FTX has created a new specialized futures contract for traders to bet on the likelihood of the Olympics occurring in Tokyo in 2021. Link.
- Coinbase holds $230 million in bitcoin, $53 million in ethereum, and almost $50 million of stablecoins on its balance sheet, according to its S-1 filing. Link.
- Infrastructure company Bison Trails has launched a new Polkadot API that allows developers to build apps much faster. The Polkadot Indexer is a protocol that allows users to retrieve and query all blockchain data more efficiently. Link.
- JPM tells its investors that they may want to allocate 1% of their portfolios to cryptocurrencies. Link.
- Crypto exchange-operator Kraken is looking to raise capital valuing the firm above $10 billion. Prospective investors include Fidelity, Tribe Capital, and General Atlantic. Link.
- Square bought $170 million more bitcoin at an average price of around $51,200. In total Square now owns 8,027 BTC worth a total of about $400 million, against an investment of $220 million. Link.