S&P 500
5034.5 -0.2%
NASDAQ Composite
NASDAQ
15865.3 -0.12%
Bitcoin
BTC
$62,982 0.00
Ethereum
ETH
$3,068 -0.01
US10Y
4.659% 0.0310
Header logo
  1. Research
  2. Crypto Market Update

BitDigest April 9 · Issue #877

Apr 9, 2021
Author
Gregory Landegger
Gregory Landegger
  • Crypto prices retesting recent highs
  • The G7 plans to establish a set of common rules and platforms for CBDCs
  • Riot spending $651 million to acquire Whinstone US
BitDigest April 9 · Issue #877
BitDigest April 9 · Issue #877

The Headlines

BitDigest April 9 · Issue #877

BOJ Working with G7 on Common Rules for CBDCs

www.reuters.com
The Bank of Japan announced that the G7 plans to establish a set of common rules and platforms for their own central bank digital currencies.
BitDigest April 9 · Issue #877

Digital Ruble Expected by 2023

www.reuters.com
The Russian central bank has expanded on its recent statements regarding the creation of a CBDC by saying it planned to release the digital ruble by 2023.
BitDigest April 9 · Issue #877

Sri Lanka Warns Potential Crypto Investors

www.cbsl.gov.lk
The Bank of Sri Lanka issued a public awareness notice on the risks associated with investing in virtual currencies expressing that there are no regulatory safeguards associated with investments in this asset class and therefore no specific legal recourse in the event of any user or transaction related issues or disputes.
BitDigest April 9 · Issue #877

National Intelligence Reports Highlights Threat of Digital Currencies to Dollar

www.dni.gov
The National Intelligence Council’s report on 2040 Global Trends finds that the US dollar and the euro are also likely to face threats from competitive fiat currencies as digital currencies are likely to gain wider acceptance during the next two decades as the number of central bank digital currencies increase; additionally, the acceptance of privately issued stable coins will depend on the regulatory rules that are established.
BitDigest April 9 · Issue #877

Riot Acquiring Whinstone Creating New Leader in US Bitcoin Mining

www.riotblockchain.com
📈Riot Blockchain (NASDAQ: RIOT) announced the planned acquisition of Northern Data’s Whinstone US operation, North America’s largest Bitcoin hosting facility with 300 MW in developed capacity, for an aggregate price of $651 million based on Wednesday’s closing price of $48.37.
BitDigest April 9 · Issue #877

Ebang to Respond to Short Seller Report

www.globenewswire.com
📈Chinese blockchain company Ebang International (Nasdaq: EBON) plans to publish an open letter in response to allegations posed by Hindenburg Research next week.
BitDigest April 9 · Issue #877

Meitu Completes Crypto Purchases of $100 Million

www.www1.hkexnews.hk
📈Meitu (1357.HK) has acquired 175.6 more bitcoin to bring the total of the digital assets held on the publicly traded Chinese mobile app provider’s balance sheet to $100 million.
BitDigest April 9 · Issue #877

500.com Buys Mining Equipment Manufacturer and Could be Changing Name

www.ir.500.com
📈Chinese online betting company turned cryptocurrency miner 500.com has announced the acquisition of Bee Computing, a Chinese ASICs mining rig manufacturer. There are also reports that the company will change its name to “Bit Mining,” but I cannot yet confirm this through US public filings.
BitDigest April 9 · Issue #877

CoinShares and 3iQ Launching Bitcoin ETF on TSX

www.etfexpress.com
📈European digital asset manager Coinshares is partnering with Canadian digital asset investment fund manager 3iQ to launch a bitcoin ETF expected to trade on the Toronto Stock Exchange under the tickers BTCQ.U (US dollar denominations) and BTCQ (Canadian dollars)
BitDigest April 9 · Issue #877

Kraken Could Be Publicly Traded in 2022

www.cnbc.com
📈Digital exchange Kraken said it is considering a direct listing on a public exchange next year.
BitDigest April 9 · Issue #877

Robinhood Sees Crypto Trading Jumps in Q1

www.robinhood.engineering
Robinhood says that 9.5 million clients traded digital currencies on its commission free trading app during the first thre months of the year, a~460% quarter-on-quarter increase.
BitDigest April 9 · Issue #877

Citi and IDB Send Cross-Border Payment Using Blockchain

www.iadb.org
The Inter-American Development Bank (IDB) and Citi have concluded a successful cross-border payment using blockchain-technology between the US and Dominican Republic.
BitDigest April 9 · Issue #877

Ledger Sued Over Data Leak

www.scribd.com
⚖️A class action lawsuit has been filed against cold wallet manufacturer Ledger and e-commerce vendor Shopify claiming damages from a 2020 data breach in which personal customer data was accessed. The suit claims that access to the personally identifying information provides hackers with the identity of crypto-asset owners enabling them to “construct a workable attack catered to a target.”

Market Data

BitDigest April 9 · Issue #877

9% of Teens Have Traded Digital Assets

www.pipersandler.com
✅Piper Sandler’s semi-annual survey on the investing habits of Generation Z finds that a 9% of teens claim to have traded cryptocurrencies; 81% of the respondents to this question were male.

Exchange, Custody and Product News

BitDigest April 9 · Issue #877

Revolut Adding Cryptocurrencies to Platform

www.blog.revolut.com
British fintech app Revolut is adding 11 new digital currencies to its trading platform: Cardano (ADA), Uniswap (UNI), Synthetix (SNX), Yearn Finance (YFI), UMA, Bancor (BNT), Filecoin (FIL), Numeraire (NMR), Loopring (LRC), Orchid (OXT), and The Graph (GRT).

Thoughts on the Ecosystem

BitDigest April 9 · Issue #877

Bitcoin will Outpace Government Efforts to Limit the Technology

www.decrypt.co
SEC Commissioner Hester Peirce responded to recent commentary from investors like Bridgewater’s Ray Dalio suggesting the government would shut down bitcoin but saying it would be very difficult and “foolish” to attempt to shut down bitcoin without shutting down the internet itself adding that the technology will likely outpace the government’s attempts to limit the digital currency.

Reports you may have missed

Bitcoin rises back toward record as first related U.S. ETF begins trading

Risk assets remain under pressure as the DXY's relentless rally has continued, now approaching its 2023 highs, currently at 106.5. Rates continue to move higher, with the 10Y now reaching a new year-to-date high of 4.7%. Gold continues its upward march amid persistent geopolitical tensions. Crypto remains weak in the face of rising rates, geopolitical risks, and tax season. $BTC continues to range between $61K and $63K following yesterday's afternoon...

Bitcoin could soar an additional 38% after topping its record high of $65,000, according to Fairlead's Katie Stockton

Crypto prices suffered steep declines over the weekend following news of Iran launching drone strikes at Israel. Bitcoin and Ethereum reached respective lows of $60.8k and $2.85k, while many altcoins saw drops of over 20%. Open interest (OI) across all coins on Friday was $48 billion, and after the rapid price declines, approximately 25% of that was wiped, with total OI of about $36 billion at the time of writing. $BTC...

ONDO
New bitcoin futures ETF could trigger rally to $168,000, analyst asserts

The subpar consumer sentiment numbers released today likely did not help asset prices, but geopolitics seems to be in the driver's seat today, with rumors of escalation in the Middle East pushing rates lower while driving the DXY and gold higher. Most risk assets, including crypto, have sold off based on these reports. $BTC has retreated from nearly $72k in the overnight hours to $69.5k, while $ETH has dipped below...

Executium Tnf9gatlSpk Unsplash

U.S. equities are finding some relief following this morning’s PPI data, showing both MoM and YoY figures coming in under expectations. The SPY has risen 0.14% to $515 and the QQQ has gained 0.66%, exceeding $441. After showing resilience in the face of yesterday’s equity sell-off, crypto markets are underperforming today. $BTC (-0.95%) is trading just under $70k and $ETH (-1.03%) is holding around $3,500. Bittensor ($TAO) is one of the...

TAO

Get invaluable analysis of the market and stocks. Cancel at any time. Start Free Trial

Articles Read 1/1

🎁 Unlock 1 extra article by joining our Community!

You are reading the last free article for this month.

Already have an account? Sign In