For better or for worse, this week the American crypto exchange, Coinbase, has marked a milestone in the history of the crypto market by being the most prominent crypto news. We tell you the most important of the week!
TOP of Crypto News
Today we bring you a compilation of the most relevant news that took place during the last week in the crypto market. You can not lose this!
Coinbase generates debate in the crypto market
In general everyone in the crypto market has an opinion about the crypto exchange Coinbase, be it positive or negative. But, during the last week especially, opinions have been shared to a greater extent in the networks of the crypto community. Especially as Coinbase marked a milestone in the history of the crypto market.
As many will know, on Wednesday this week Coinbase stock, COIN, debuted on Nasdaq. It is worth remembering that the reference price set the day before the listing was $ 250, but the company’s shares peaked on its first day of $ 425.
The crypto exchange is currently enjoying a price tag of $ 342 during after-hours trading.
In this way, throughout the week the crypto community has debated whether or not to invest in the company’s shares. This is how the CEO of Twitter, Jack Dorsey, assured on Twitter that the shares of the crypto exchange Coinbase is not an investment alternative to Bitcoin.
But furthermore, some in the crypto community do not support the strategy used by Coinbase to integrate the crypto world with the traditional one.
We must bear in mind that Coinbase’s strategy has always been to complement and enhance traditional finance with cryptocurrencies. However, not everyone thinks that way in the community.
Therefore, Binance posted the following message on Twitter: «Congratulations on your Coinbase IPO. Take over Wall Street, while we take over ALL the streets».
Coinbase may have marked a milestone in the crypto market. Nonetheless, Binance’s message is clear: Changpeng Zhao crypto exchange will not follow Coinbase’s outlined strategy.
ARK Investment invests in the crypto exchange Coinbase
One of the investments in the crypto exchange that resonated the most in the crypto market was made by the three ARK Investment of Cathie Wood invests in Coinbase. Why? Because the company had to sell $ 178 million in Tesla shares to invest in the crypto exchange.
In this way, ARK Investment Management acquired 749,205 shares of the crypto exchange COIN. These shares are distributed as follows: the Ark Innovation ETF (ARKK) now has 512,535 COIN shares, while the Ark Next Generation Internet ETF (ARKW) bought 147,081 shares and the Ark Fintech Innovation ETF (ARKF) bought 89,589.
TIME magazine becomes a Bitcoin hodler
Yes, from CryptoTrend we are still surprised by how practically every week a new great institutional joins the crypto market, especially as a Bitcoin hodler.
In this case we started the week with the news that TIME magazine would be receiving payments in Bitcoin, but, in addition, it would maintain holdings in crypto. This thanks to the association between Grayscale and TIME with the aim of developing a series of educational videos about the crypto market.
New crypto instruments available in the world
This week the first Ethereum crypto ETF was approved! Yes, this is how you read it. Canada takes a step forward from the rest of the world by having approved the first ETF physically backed by Ethereum.
The company behind this crypto ETF is Purpose Investments, which was the first Canadian company to receive approval to launch a Bitcoin exchange-traded fund. And, now, it is the first to receive approval for an Ethereum ETF.
But the announcements don’t end here. This week ETC Group reported that it will offer a new Litecoin crypto product. Yes, LTC.
According to the press release, ETC Group indicated that its Litecoin product settled in physical, under the ticker ELTC, will be launched on Deutsche Börse Xetra this April 14. Notably, ETC Group’s Litecoin ETP represents the group’s third crypto ETP in the last year.
Price predictions for the leading crypto
And, just as we continue to amaze ourselves with new investors every week, we are surprised how new optimistic predictions about the price of the leading crypto emerge practically every week.
On April 14, PlanB, the renowned crypto analyst, published its most recent forecast on the price of Bitcoin and, this time, has bet that the leading crypto will manage to reach USD 92,000 in April. Yes, in April!
This would give the leading crypto less than 15 days to increase by about 67%, considering that Bitcoin fell back to position below $ 60,000.
Specifically PlanB saw the listing of the crypto exchange Coinbase as a key factor that will boost Bitcoin. It will happen?
And, with a little humor, we tell you this week that in the episode of the Simpsons called “Burger Kings” we can see Marge Simpson interested in the value of the shares she bought in a new business owned by Mr. Burns, so she does what any boomer would do: watch TV.
On television, Marge was able to observe the price of the leading crypto. And how much do the Simpsons predict the price of Bitcoin will hit? That’s right: to infinity.
In a few lines …
- Binance Coin (BNB) ranks among the best performing cryptos for the year.
- HSBC confirmed that it will not allow its clients to acquire MicroStrategy shares given their exposure to Bitcoin.
- Turkey announced that it prohibits crypto from direct and indirect uses in domestic trade.