Weekly crypto digest by changehero

A long-anticipated stimulus package plan was finally made law in the US. This will certainly send waves over the market in the coming weeks but what other news did we have recently? The ChangeHero team prepared another quick weekly crypto digest to keep you up to date, so dive right in!

ChangeHero Updates

International Women’s Day Special: Interview with Crypto Wendy O

Women’s Day Special: Interview with Crypto Wendy O

This Monday, we celebrated Women’s Day with the rest of the world. We got lucky to have the lovely Crypto Wendy O as a guest in our special interview. If you haven’t read it already, do not miss out!

Latest Cryptocurrency News

Bitcoin Digest

Bitcoin price chart: 12th March
Source: TradingView
  • The Bitcoin price movement this week looks like a very encouraging uptrend. On weekend, it bounced off the support at $47,100 and has been on a resistance break spree. It successfully reclaimed $51k, $51,800, $54,400, $55,800, $57,100. At the moment of writing the Bitcoin digest, the latest strong resistance sits at $58,150.
  • Is now a good time to buy Bitcoin? Possibly so, with most technicals staying in the “Buy” area in 4-hour, daily, weekly and monthly time frames.

Altcoin News

  • Ripple and Moneygram announced cessation of the partnership. The payment provider was one of the largest clients onboarded with the company. The exact reason was not stated but chances are, it is the ongoing dispute between the SEC and Ripple founders.
  • But there is good XRP news as well. Brad Garlinghouse settled the lawsuit with YouTube. The core of the dispute was XRP scam videos parading as official content. The platform and the company agreed to combat fraudulent activity together.
  • As for Ethereum news, the community got the definitive dates of the upcoming Berlin hardfork. The update that will introduce new formulas for gas and transaction types is to hit mainnet on April, 14. The controversial EIP-1559 is delayed until the next hardfork.

Business Crypto News

  • PayPal bought Curv, a cloud-based digital asset security provider. The team is now expected to be the primary provider for the new digital-based structure PayPal is building.
  • As Coinbase prepares to enter NASDAQ, the company is reported to be valued at $90 billion. The market capitalization makes each share worth $350 to $375. This information is preliminary and where the actual stock will be trading and moving will become clear upon market entry. 

Crypto News on Adoption

Keyword "nft" trending on Google Search
Source: Google Trends

Crypto News on Regulation & Politics

  • The stimulus package which was widely discussed for months has finally been approved. The $1.9 trillion dollars will be put to 90% of the US households, rent payments and child support. The crypto community was discussing the package in connection with USD debasement and people investing the check into Bitcoin.
  • The US Commodity Futures Trading Commission is allegedly investigating Binance for breaching the regulations and providing derivatives trading to the US citizens. This is not the first time for Binance to get close attention from the US watchdogs. Officially, the exchange does not serve US customers but there still seems to be some disbelief from the authorities.

Twitter Crypto Digest

The miners are about to unionize? Jokes aside, the part of the Ethereum community which opposes EIP-1559 does not want to go unnoticed. The proposal suggests the difference between base fee and market fee to be burned rather than go to miners. Their plan is to concentrate hashpower in one pool to show their ability to stand together, but not to attack.

The Info Wars presenter Alex Jones went on record saying he used to have 10 thousand bitcoin. However, Jones has lost the laptop with the access information. The coins were given to him by Max Keiser, who confirmed the deal.

The only appropriate reaction to seeing your work sold for $69,346,250 on Christie’s.

Influencer of the Week

Kathleen Breitman is the co-founder of Tezos, and since the very beginning showed true passion and dedication to the project. The amount of educational and engineering work she put into Tezos is nothing to sneeze at. Breitman’s Twitter would be the best place to get thoughtful updates on Tezos without any noise.

Top Crypto Digest

At the moment of writing the crypto digest, the general market stats are:

  • Total Market Cap: $1,686,404,137,073 (+16.78%);
  • BTC Dominance: 61.6%.

7d Top Coins

7D coin digest: 12th March
Source: Coin360

Similarly to BTC as described in Bitcoin digest, the market was on the rise. At the moment of writing this crypto digest, the 7-day change of the top currencies is as follows:

Gainers of the Week

Which crypto will explode in 2021? Here are the top-three blowing up at the time of writing the crypto digest:

Key Takeaways

  • Bitcoin news was supporting its move upward throughout the week. The resistance it battles with at the time of writing the Bitcoin digest is sitting at $58,150;
  • Altcoin news adds up to the stories unfolding for weeks and months. Ethereum is getting ready to ship Berlin on April 14, while miners are tackling the EIP-1559 fee burn feature. Another partner Ripple lost because of the SEC accusations toward the executives is Moneygram, which fuels uncertainty around them;
  • NFTs continue to enjoy mainstream attention as the tokenized assets get more and more exotic. People find ways to turn real estate, memes and tweets into assets for trading on the NFT marketplaces. Meanwhile, Beeple’s tokenized artwork was sold for $69,346,250 on Christie’s;
  • Which altcoin has the most potential? Concurrent with our crypto digest, DeFi tokens like MATIC and established altcoins like VET are considerably growing;
  • Probably the most impactful event to happen this week was the signing of the $1.9 trillion stimulus bill. Its immediate impact will become visible in the next few weeks. The crypto community expects a bulk of these dollars to end up in Bitcoin and the crypto market.

Conclusion

This week is better described as the calm before the storm. Will the Americans put “stimmies” into cryptocurrencies? How did CFTC try to get Binance? Will Ripple return to former glory and restart their partnership with Moneygram?

We might have some answers as soon as next week. Check out our blog next week for the next weekly crypto news digest! Can’t wait a whole week? Follow the news on our Twitter, Facebook, Reddit and Telegram.


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Title
Weekly Crypto Digest: the Stimulus Watershed
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Weekly Crypto Digest: the Stimulus Watershed
Description
This week in the crypto digest, the biggest news is the signing of the $1.9 trillion stimulus bill. Many expect these dollars to end up in Bitcoin.
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Ian
Ian
4 months ago

Good recap.

Last edited 4 months ago by Ian