Bitcoin has surpassed Apple, the world's largest company by market cap, with trading volume 7,4 times larger than that of the tech firm. Increasingly, it seems that buying bitcoins is the order of the day. This and more news in this practical daily summary so that you are always informed with the most recent events that occur within the crypto world.
Bitcoin and Blockchain Adoption
📍Finbold, a financial analysis portal, he pointed that the trading volume in Bitcoin was 7,4 times greater than that of Apple last April, despite the cryptocurrency's market capitalization being barely half that of the tech company.
Apple is the largest company great in the world in terms of market capitalization, with more than $2,13 trillion. However, the sustained growth of the market-leading cryptocurrency in recent months has attracted a large number of investors, significantly increasing its trading volume. According to Finbold data, Bitcoin had a trading volume of $1,84 trillion in April, while Apple's was just $249,2 billion.
📍According to several sources cited by The Block, Paypal could be considering launch a stablecoin very soon. Sources cite that the financial services multinational is exploring the design and construction of a stablecoin to expand its offering of cryptocurrency services. According to sources, Ava Labs could be one of the companies collaborating with PayPal in building the stablecoin.
Cryptocurrencies and altcoins
📍Ethereum Classic (ETC) has grown more than 160% in the last week, reaching a new all-time high of $99,4. The cryptocurrency, which had fallen significantly after the 51% attacks suffered on its blockchain, is being driven by increased interest from traders and retail investors. Also, ETC developers have been implementing new improvements and security systems to protect the network, which may be restoring confidence in this asset.
NFT and DeFi Markets
📍Token owners DeFi received profits of more than 250 million dollars last April, The Block reported. The portal's data shows that only Uniswap, DEX largest of the decentralized ecosystems, generated profits worth $113 million.
Source: The block
Cumulative revenue across major decentralized protocols exceeds $1.140 billion.
CBDC and Central Banks
📍The Central Bank of Georgia (NBG) revealed its plans to launch a central bank digital currency (CBDC) very soon, as a way to improve the efficiency of its current national payment system and foster financial inclusion through the technology provided by the crypto industry. In the statement, the NBG reports that a CBDC will allow the entity to settle payments more efficiently and securely; in addition, it will serve as a store of value, will be legal tender in the country, and will help the nation protect its financial stability.
📍Meanwhile, the Central Bank of the Bahamas will begin a national campaign to promote and drive the adoption of its CBDC, called Sand Dollar. According to informs According to a local media outlet, the central entity will implement the campaign this summer, to connect the digital currency with commercial banks and payment services in the country.
Rules and Regulations
📍Treasury Secretary, Janet Yellen, said on Wednesday that the interest rate hikes that have been talked about recently are not something she is predicting or recommending, and that as an official she appreciates the independence of the United States.
Yellen's new comments, a day after she noted that the country was losing out on nearly $7.000 billion in taxes due to the current fiscal gap, restored interest in Bitcoin, which has recovered by 9% after falling to $53.000 yesterday. At the time of this writing, the cryptocurrency is trading at a value of $57.500 per unit.
Continue reading: Markets: ETH continues to break highs, DOGE soars to $0,66 and BTC fights for 60K
