If you bought a £1000 worth of bitcoin on Monday 8th February, it would be now worth £1063 on Friday 12th February.
Buy and Trade different cryptocurrencies on cex.io a London based cryptocurrency trading platform.
THIS WEEK IN CRYPTO
Bitcoin reached a new all time high of $43k on Monday, driven by Tesla $1.5bn investment, with Mastercard joining the stable of mainstream providers offer cryptocurrency it’s acknowledgement.
Chainlink is showing a high volume of transactions, which which is pushing up the price of the cryptocurrency, an illustration into how cryptomarkets can work; volume on networks determining value
Ether hit the $1800 dollar an all time high with a 200b market cap. Greyscale have bought another $93 million this week accelerating the fast-growing decentralized finance sector. DeFi take note.
Dogecoin keeps hitting the news, the only thing bigger than Doge’s current popularity is the number of Dogecoins in circulation, there was 100bn in 2015 & 5bn mined yearly since. Don’t invest.
Why Use Cryptocurrency?
In this weeks whale watch bitcoin worth $101 million was moved from Coinbase to a cryptowallet in a reported attempt to reduce the supply of bitcoin on the exchange by moving 2292 bitcoins.
It is reported that UK residents will be able to start purchasing crypto using PayPal in 2021, this has be available to US residents via the Venmo wallet and makes crypto increasingly accessible.
BitPay utilising prepaid Mastercards now provide accesss to Apple Pay, Apple reported to be considering welcoming cryptocurrency it’s own walled garden. Crypto-contactless payments incoming
Ethereum baser Data coin Streamr gained 116% this week with great support for the global open source peer-to-peer network designed for scalable crowdsourced ethical businesses
To finish off the week Bitcoin held a market cap of $900bn, which means it will have gained $354bn this year and it’s only February, with it on par with the GDP of the Netherlands.
NEXT WEEK IN CRYPTO
Will Bitcoin make it past $50k? Can Ether sustain it’s recent highs an prevent further surges in recent transaction fees.Lets see what Wall Street thinks it’s going to edge it’s bets next week.