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Week in review: Apr 30, 2021 — ETH Hits an All Time High and Dogecoin Surging

Week in review: Apr 30, 2021 - ETH Hits an All Time High and Dogecoin Surging

Ethereum hit a record high this week stealing some of Bitcoin’s limelight as a European investment bank issued its first ever digital bond on the Ethereum blockchain. The infamous meme-inspired crypto, Dogecoin, surges 20% after Elon Musk and Mark Cuban posted tweets! Is it all speculative? Read the weekly round up below.

Digital Currency Ether Hits a Record High, Stealing Bitcoin’s Limelight

CNBC: April 29, 2021

The world’s second-largest digital currency by market value surged to a fresh record of $2,800 on Thursday morning, according to data from Coin Metrics. Bitcoin, the top digital coin, was slightly lower at a price of $54,471.

‘Damn Huge’: Germany Opens Up to Institutional Crypto Funds

Decrypt: April 28, 2021

In Germany, new legislation enabling managers of the most popular institutional investment funds — the so-called Spezialfonds — to allocate 20% of them to crypto-assets is set to come into force on July 1.

Fidelity Launches Institutional Cryptocurrency Analytics Platform Sherlock

CoinTelegraph: April 30, 2021

In an announcement on April 29, Fidelity Investments — which has $10 trillion assets under management — unveiled a digital assets data and analytics solution to assist institutional investors and fund managers.

Dogecoin Price Surges After Tweets From Elon Musk and Mark Cuban

CNBC: April 28, 2021

Dogecoin’s price has soared 20% in the last 24 hours to 32 cents, according to data from Coin Metrics. The meme-inspired cryptocurrency hit a record high above 45 cents earlier this month, sparking fears of a potential bubble in the crypto market.

Musk Says Tesla Sold Bitcoin To Prove Liquidity as Cash Alternative

BNN Bloomberg: April 26, 2021

Tesla Chief Financial Officer Zachary Kirkhorn said Tesla values Bitcoin as a way to store cash while preserving liquidity, especially with traditional investment yields being so low.

Bitcoin vs Ethereum: Investment Bank JPMorgan Explains Why ETH Is Outperforming BTC April 29, 2021

Noting that bitcoin is “more of a crypto commodity than currency,” JPMorgan said that “ETH is the backbone of the crypto-native economy and therefore functions more as a medium of exchange.”

Bitcoin Stabilizes Near Support; Resistance Around $56K-$58K

Coindesk: April 30, 2021

The cryptocurrency was trading around $54,000 at the time of writing after holding support around $52,000. The short-term trend is improving, although there is strong resistance around $56,000 and $58,000 that could limit upside into the weekend.

UFC Files Trademark for Cryptocurrencies

Decrypt: April 30, 2021

The Ultimate Fighting Championship (UFC) is the world’s premier MMA promotion‚ and it’s poised to start selling NFTs. The UFC has filed two trademarks. The applications were first noticed by Josh Gerben, founder of law firm Gerben Intellectual Property.

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