Author: changehero
January 29, 2021

If you are following the news about the stock market, this has been a historical and a pretty crazy week. But in case you missed some other news in the noise, we have collected them for you! As always, weekly market and Bitcoin digest and the most significant cryptocurrency news are here for your convenience. […]

Weekly crypto digest by changehero

If you are following the news about the stock market, this has been a historical and a pretty crazy week. But in case you missed some other news in the noise, we have collected them for you! As always, weekly market and Bitcoin digest and the most significant cryptocurrency news are here for your convenience.

ChangeHero Updates

Evolution of Money: Digital Currencies and Crypto

History of money - Digital Currencies and Bitcoin

This week, we published the second entry of our series on the history of money. Read part two in our blog and find out why digital currencies are the future, and cryptocurrencies have the most potential out of them.

Latest Cryptocurrency News

Bitcoin Digest

Bitcoin price chart 4th week of Jan 2021
Source: TradingView
  • Before we address the elephant in the room, let’s see how the rest of the week went. Trading went more or less as usual. The working week opened with BTC bouncing off $31k support level. The bounce even let BTC retest $35k this day. However, this level was too resistant, and it rejected the graph violently. On Wednesday, Bitcoin dipped below $30k twice. The response was as nice as before, launching the price up to $34k again. 
  • Now, normally we would expect the same thing after the rejection to happen. However, Bitcoin momentarily shot up to $38k in a couple of hours. Is now a good time to buy Bitcoin? It is better to wait and see, as sudden bursts of volatility are generally not sustainable.

Bitcoin News

  • This pump was most likely caused by a series of events. A Reddit community of traders, WallStreetBets, has driven the price of stocks parabolically up, primarily, GameStop. This resulted in hedge funds that had short positions to suffer multi-billion losses. The popular trading app, Robinhood, was pressured into suspending purchase of several stocks, and the community was banned in Discord. 
  • By that time it was widely reported and discussed. That’s when Elon Musk made several crypto-related tweets and changed his Twitter bio to say “#Bitcoin”.

Business Crypto News

  • The Investor’s call in Visa revealed the plans of the payment processor giant to develop crypto solutions. The company was vocal about blockchain development before, and collaborated with on-ramps. However, they are now looking into enabling crypto payments directly;
  • Digital asset manager Grayscale applied for six more altcoin trusts. These include Polkadot, EOS, Monero, Aave, Cardano and Cosmos. Though trust formation does not necessarily mean a product will be complete, potentially it means even more options for investors;
  • Sources in Harvard, Yale and Brown report the universities’ endowment funds were discreetly purchasing Bitcoin for more than a year. If the information is true, it means that BTC was used to bolster the universities’ budgets.

Crypto News on Adoption

  • Reddit announced collaboration with Ethereum Foundation. A bilateral partnership will help allocate resources to scale Ethereum blockchain, as well as bring the value of the technology to the website. Introducing blockchain to the points and rewards system on Reddit has already been tested in Scaling Bake-Off;
  • Binance Research presented the results of the crypto owners survey. The questionnaire was distributed in Binance newsletters and in social networks. It found that there are now approximately 100 million crypto users, most of whom are motivated by investing long-term. 17 out of 20 markets showed a lower than 40% level of trust into local governments.

Regulation & Politics Crypto News

  • New research by the Bank of Singapore states that cryptocurrencies might become the new store of value instead of gold. As a medium of exchange, the researchers seem sceptical that privately issued currencies will ever replace national currencies. However, once trust, liquidity and acceptance hurdles are overcome, cryptocurrencies will be a better alternative to safe-haven assets.

Twitter Crypto Digest

If we needed a timestamp when the WallStreetBets movement opened up to crypto, this might be it. Dogecoin being traded on Robinhood helped immensely, as well. Sure, WSBChairman may no longer be verified on Twitter, but now they’re verified in the eyes of the crypto community.

The tweet that preceded the pump and the bio change is right above. Cryptic! That is one way to leave a message to Crypto Twitter.

And here is another! Jihan Wu, Bitmain founder and prominent member of the Bitcoin Cash community used a key to encrypt a message. In it he cleared up that he decided to move on from Bitmain.

Influencer of the Week

One a scale from one to ten in approachability, Sicarious gets a three. That is how thick laden in irony their account is. If you are able to see through it, you can get valuable ideas on trading and the state of the market. And the jokes they make and share are pretty nice, so give them a follow for a fun time.

Top Crypto Digest

The market cap is back over $1 trillion. The dominance index remains at the same level as last week, signaling the growth of both Bitcoin and altcoins. At the moment of writing the crypto digest, the general market stats are:

  • Total Market Cap: $1,086,031,440,166;
  • BTC Dominance: 64.83%.

7d Top Coin Digest

7D coin digest 4th week of Jan 2021
Source: Coin360

Ethereum news reported a new all-time high ($1,467.78), and the rest of the market is back in the green. Is it safe to buy ethereum now? Despite the price being at a top, the technicals are either neutral or in the strong buy area.

Dogecoin makes a debut in our top after surging in capitalization. Congratulations!

At the moment of writing the crypto digest, the 7-day change of the top currencies is as follows:

ChangeHero Gainers of the Week

At the time of writing the crypto digest, the currencies that showed the best growth are:

  • Dogecoin (DOGE) $0.051205 (↑499.20%);
  • Uniswap (UNI) $14.41 (↑71.59%);
  • 1Inch (1INCH) $2.93 (↑65.45%).

Key Takeaways

  • The American stock market this week was going through an unprecedented case. Retail investors on Reddit united to pump random stocks. The retaliation showed how easily stock exchanges are manipulated, and cryptocurrencies came into the spotlight. This market is unstoppable and global;
  • As a result of escapades on Twitter and Reddit, Dogecoin and Bitcoin pumped to serious amounts: Dogecoin scored a new ATH ($0.051205), and Bitcoin grew by $5,000 in an hour;
  • Crypto has had a spectacular week in terms of adoption: among the names that made the headlines are Visa, Yale, Harvard and Reddit. Grayscale and MicroStrategy continued with their crypto investments.

Conclusion

What we are witnessing this week is historic, and this is not an exaggeration. Crypto is getting recognition and a massive boost in popularity. There was plenty of cryptocurrency news on adoption that might have been overlooked, but is not less significant.

Tune in to the next crypto digest in our blog. Don’t forget to subscribe to ChangeHero’s updates on Twitter, Facebook, Reddit and Telegram.


Learn more:

Quick links:

 

0 0 votes
Article Rating
Subscribe
Notify of
guest
1 Comment
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
fred
fred
1 year ago

the crypto digest is so wow, thanks very much.

Tags

Cryptocurrency news digest

Uncategorized

Cryptocurrency News: Swiss City Embraces Crypto

If you thought the news last week was big, wait until you read our weekly crypto news digest of this week’s events. Lugano (Switzerland) makes Bitcoin, Tether and their own token legal tender (but not really), Ethereum miner revenues flipped Bitcoin, crypto execs turn down blanket ban on Russians. Continue to learn more about these […]

Author: changehero

229
0
March 5, 2022
Read more

Uncategorized

Криптовалютные новости: иск против Tether и NFT Википедии

Прошедшая неделя краткосрочно порадовала крипто-энтузиастов ростом биткоина до 50 000 $, однако вскоре первая криптовалюта снова подешевела. Шум вокруг NFT принес аукционным домам большую выручку, а власти разных стран до сих пор не могут решить, что делать с криптовалютами. Эти и другие криптовалютные новости — в нашем новом дайджесте! Ключевые выводы  Курс биткоина на прошедшей неделе […]

Author: changehero

83
0
December 17, 2021
Read more
Weekly cryptocurrency news digest

Uncategorized

Cryptocurrency News: Kickstarter, WhatsApp Move toward Crypto

The crypto market is in the red but some stories in the news are exceptionally loud — a few world-famous names have committed to crypto technologies. Everything you might have missed about the market, adoption and regulatory changes in crypto — summed up in our weekly crypto news digest. Key Takeaways The Bitcoin selloff that […]

Author: changehero

110
1
December 10, 2021
Read more
криптовалютные новости

Uncategorized

Крипто-новости: DDos-атаки на Solana и первые NFT от Pepsi

Столкнувшись с проблемами фиатных валют, население той или иной страны может обратиться за помощью к криптовалютам, как это было в Сальвадоре. Курс турецкой лиры на прошедшей неделе снизился, и жители стали активно использовать SHIB и USDT. Развитие альткоинов, а также продолжающийся NFT-бум также стали громкими новостными повестками уходящей недели. Эти и другие крипто-новости — в […]

Author: changehero

81
0
December 10, 2021
Read more
криптовалютные новости

Uncategorized

Криптовалютные новости: новый вид NFT и рост альткоинов

Несмотря на медвежьи настроения прошлых недель, крипто-рынок смог восстановиться и вернуться в фазу роста. Индия и Южная Корея продолжают разбираться с регулированием криптовалютных активов. Эти и другие криптовалютные новости — в нашем новом еженедельном дайджесте! Ключевые выводы  Курс биткоина на прошедшей неделе вернулся к росту: после того как начал неделю с 53 654 $, он […]

Author: changehero

82
0
December 3, 2021
Read more
Cryptocurrency news digest

Uncategorized

Crypto News Digest: India May Not Ban Crypto

ChangeHero team is back with this week’s crypto news digest. The Indian government may not ban cryptocurrencies. Jack Dorsey stepped down as Twitter’s CEO, and Square rebranded as Block. Stay with us. We covered everything that happened in crypto. Key Takeaways Reports suggest the Indian government may not ban cryptocurrencies and instead regulate them as […]

Author: changehero

135
0
November 27, 2021
Read more