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Top News
Coinbase Goes Public With $100B Valuation
Coinbase, the largest cryptocurrency exchange in the U.S., became a public company this week with the ticker COIN. The company has $223 billion in crypto assets stored on its platform through the end of Q1 2021. Trading volume is accelerating, up nearly four-fold sequentially to $335 billion.
Dogecoin Soared 400% Surpassing Cardano To Become 5th Largest Cryptocurrency
Cryptocurrency’s original meme coin isn’t a joke anymore as the cryptocurrency took the top five place of the world’s largest cryptocurrencies by market cap valuation. Dogecoin soared over 400% this week when the doubled in valuation and reached a new all-time high of $0.43. Dogecoin is also has one of the highest return on investments for both 2021 to date so far as we enter in Q2 of 2021.
Bitcoin News
Bitcoin Price Dips To $52K As Crypto Markets Suffer From Flash Crash
The price of bitcoin tumbled on Sunday and was down as much as 19.5% from record highs. Bitcoin dropped as low as $52,148 on Sunday morning after reaching an all-time high above $64,800 on Wednesday. Ether and dogecoin also took a hit over the weekend.
U.S. Is Imposing Sanctions On Russia-Based Bitcoin Wallet Addresses
The U.S. Treasury announced sweeping sanctions to curb the work of Russian online influence outfit the Internet Research Agency (IRA) This included adding several bitcoin addresses to its "Specially Designated Nationals" list. The Treasury has targeted Pakistan-based Second Eye Solution (SES), which it claims "specializes in creating and selling fraudulent identities and has assisted the IRA in concealing its identity to evade sanctions".
Altcoin News
$10B Worth Of Crypto Gets Liquidated As Market Tumbles
According to market data, $9.6B worth of crypto has been liquidated over the past 24 hours as the markets free falls over the weekend. Bitcoin, the top cryptocurrency by market cap value, has hit an intra-day low of $52K. Binance, the world’s largest cryptocurrency exchanges takes account for 49% of the market’s volume collapse with $4.7B in assets get liquidated.
WallStreetBets Behind Dogecoin’s Price Pump
Dogecoin reached an all-time high of $0.43 after a 400% pump. Chief Strategy Officer at CoinShares, Meltem Demiros, linked Dogecoin surge to the controversial subreddit r/WallStreetBets. The group decided to lift its ban on crypto discussions.
DeFi News
Chainlink Co-Founder Wants To Turn DeFi Into A Booming $500B Industry
Chanlink Co-Founder and CEO Sergey Nazarov believes the future of finance will come from decentralized sources as Chainlink submits a new whitepaper containing the future layout of DeFi. Nazarov revealed that Chainlink is preparing to take on new applications that include non-fungible tokens, stablecoins and DeFi functionality. The hopes with the new whitepaper proposal is to overhaul the current DeFi industry to transform it into a near trillion dollar industry.
Total Locked Value Within DeFi Secures $60B
Amid the ongoing dip in the cryptocurrency markets, the decentralized finance sector has managed to stay afloat and maintains $60B in total locked value on major smart contracts which is an all-time high.
Market Movers
The Biggest Gainers and Losers
Gainers (7 Days)
• Freecoin (FREE) - Up 534%
• Dogecoin (DOGE) - Up 335%
• Dovu (DOV) - Up 198%
Losers (7 Days)
• KIMCHI.finance (KIMCHI) - Down -53%
• Nerve Finance (NRV) - Down -52%
• Ethernity Chain (ERN) - Down -46%
Exchange News
Coinbase CEO Sells $291M Worth Of Coinbase Shares
Brian Armstrong, the CEO of Coinbase, has sold an estimated 750K shares of Coinbase stock ($COIN) which accounts for just 1.5% of his total share holdings of the company stake. The shares were sold when the stock price of Coinbase was circulating at around $381 to $410 per share.
Binance Performs 15th Token Burn of Binance Coin By Wiping Out An Estimated $600M Worth of BNB
Binance announced the completion of the 15th Binance Coin burn earlier this week of just shy of 1.1 million tokens. The amount in coins has substantially declined compared to the past several such events. However, the price growth of Binance's native token has helped it set a new ATH in terms of the US dollar. Binance Coin is among the best performers price-wise since the start of the year. The token burn was worth an estimated $600M in BNB at the time of the scheduled burn.
Blockchain News
Tether Use On Tron’s Blockchain Rises To $54B; Surpassing Ethereum
The amount of Tether, the world’s largest stablecoin, being used on Tron’s blockchain has reached $54B in valuation as growth in stablecoin use has exploded. Due to the rise, there is now more Tether being used on Tron’s blockchain than Ethereum’s blockchain.
Blockchain.com Wallet Provider Is Considering A Public Listing
The CEO of Blockchain.com is considering a potential initial public offering. Blockchain.com is a cryptocurrency wallet provider that allows users to send, receive and manage their cryptocurrency portfolios securely.
NFT News
Paris Hilton Launches Her Own NFT Collection
Paris Hilton has joined the NFT movement by issuing her own non-fungible token collection. Hilton has released her collections on Nifty Gateway and the sets are currently a huge payoff. With the NFTs sets now worth an estimated $1.5M
Mark Cuban Invests In CryptoSlam NFT Price Tracking System
Billionaire investor and Shark Tank Host Mark Cuban has invested in the non-fungible token price tracker CryptoSlam. CryptoSlam, which works similarly to cryptocurrency market price tracker CoinMarketCap, showcases the price performances of the NFT marketplace.