Ethereum hits a new all-time high above $4.200, while Litecoin finds a new high at $410 and a new cryptocurrency grows more than 38.000% in the past week. These 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.
Cryptocurrencies and altcoins
📍The price of Ethereum (ETH) surprises everyone again by surpassing $4.000 per unit. The second largest cryptocurrency on the market reached a new all-time high in the $4.221 on Monday. ETH's dominance in crypto markets is almost 20%, while that of Bitcoin (BTC) continues to fall to 43%.
📍Litecoin (LTC) also reaches a new all-time high, with a price of $410, also on Monday. So far this year, LTC has grown by more than 260%, although at the time of writing it is trading at $390 per unit.
📍Dogecoin (DOGE) rose 3% after Elon Musk announced that he will take the meme cryptocurrency into space. The eccentric billionaire revealed that his company SpaceX will launch a new satellite, funded by none other than DOGE.
In a Press releaseThe company Geometric Energy Corporation (GEC) announced the mission DOGE-1 to the Moon, which will be the first commercial lunar payload in history paid for entirely with this cryptocurrency. Samuel Reid, CEO of Geometric Energy, assured that both his company and SpaceX have agreed to use DOGE as a “unit of account for the lunar business in the space sector”However, at the time of writing, the price of DOGE has fallen by nearly 20%.
Nick Spanos, founder of Zap Protocol, sees DOGE as an invaluable token that will boost the crypto space, and is highly unlikely to disappear, despite the crash.
📍In addition to DOGE, there is a new token inspired by “dogs” that is attracting the attention of thousands of investors. Shiba Inus (shib), dubbed by its own community as “DOGE Killer” has grown by more than 1.400% in the last 2 days. Several cryptocurrency exchanges are listing the new token, which continues to increase its value.
This cryptocurrency, launched in late 2020, has seen a surprising surge in value over the past 5 months, climbing to 19th place among the top cryptocurrencies on the market. Its market capitalization is over $10.000 billion, and its daily trading volume exceeds $13.000 billion. At the time of writing, SHIB's value has fallen by 12%.
As a curious fact, 50% of the SHIB supply was submitted Ethereum co-founder Vitalik Butrin to be burned, although at the time of writing, Buterin holds the funds, which are valued at over $13.000 billion, equivalent to about 3,1 million ETH. On Uniswap, the WETH/SHIB pair dominates DEX, for the moment, in daily trading volume and profits generated.
Bitcoin and Blockchain Adoption
📍According to a report from Bloomberg, UBS Group AG soon offer cryptocurrency investment products to its wealthiest clients. The report cites that the bank is looking for alternatives to provide broader access to cryptocurrencies and digital assets, and to respond precisely to the growing demand from clients and investors.
📍Mark Yusko, founder and president of Morgan Creek Capital Management, an investment management firm, believes that the price of Bitcoin will consolidate at $250.000 per unit in the next 5 years. Yusko noted in his participación on CNBC's Trading Nation, that cryptocurrency will experience exponential growth as its adoption in the markets continues to grow.
The investor also believes that BTC will further rival gold, establishing itself as the gold standard in the cryptocurrency world.
CBDC and Central Banks
📍The digital yuan, also known as DCEP, reaches the services of Alipay, China's most popular electronic payment platform. According to the report According to CNBC, Alipay's platform will begin offering access to digital currency CBDC from China to its customers and users, to test its operation on a massive scale.
Cybersecurity
📍Rari Capital, the latest DeFi protocol to be hacked, will allocate $26 million from its developer fund to compensate for losses suffered by its users in the recent attack. The DeFi protocol suffered a security exploit that allowed a hacker to take advantage of a vulnerability in the ETH yield vault, related to Alpha Finance, to extract $11 million.
According to one publication Recently, all major contributors to the protocol voted to return 2 million RGT tokens to reimburse those affected.
📍In a report de Bleeping Computer, the cybersecurity company noted that Elon Musk's appearance on Saturday Night Live (SNL) on Saturday was the perfect time for some hackers to use abandoned official Twitter accounts to promote a new scam, which resulted in losses of around $100.000 in DOGE and several other cryptocurrencies.
Similar to what has happened in previous cases, the scammers ran fake promotions to trick unsuspecting users into sending cryptocurrency funds to various addresses, supposedly to receive double or even 10 times the amount sent. The accounts used were linked to Elon Musk, Gemini and SNL.
Development and Technology
📍Ledger, the largest manufacturer of hardware wallets, integrates the function of staking for Ethereum on its Ledger Nano S model. The company updated el firmware from the wallet so that users can sign a transaction on the Ethereum 2.0 Beacon Chain deposit contract, and become validators of the network with a deposit of 32 ETH.
📍Several major investment companies, such as NGC, Inclusion Capital, Lotus Capital, and others, invested funds in the financing round of Sienna Network, a DeFi protocol that is based on Secret Network y Tendermint de Cosmos, to develop a platform focused on user privacy. Sienna developers will build a private DEX where users will be able to trade, sell or buy tokens anonymously with private transactions, which will not be recorded on the public blockchain.
Sienna Network builds a cross-chain bridge and will use Sienna's SNIP-20 standard tokens, for users to exchange their crypto assets into their private equivalents. This protocol is compatible with Ethereum, and soon it will be with other blockchains such as Polkadot, BSC, among others.
IMPORTANT: Bit2Me News reminds you that before making an investment you must educate yourself and know where you invest your money, as well as the pros and cons of the system. Everything written here is for informational and educational purposes and should not, under any circumstances, be taken as investment advice or recommendations. We separate ourselves from the actions and consequences that ignorance may entail. If you decide to invest in this or another asset class, you are solely responsible for the consequences that your decisions and actions may have.
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