Crypto firms reported a surge in retail activity as the US economy hit bank accounts, according to crypto news agency TheBlock.
Coinbase is preparing for the direct listing, which is scheduled for April 14th.
On April 1, Morgan Stanley added 12 of its existing institutional funds trading Bitcoin using futures and cash settled investments with the Grayscale Bitcoin Trust.
Morgan Stanley said in a filing with the US Securities and Exchange Commission that “Bitcoin and Bitcoin futures generally have significant price volatility compared to traditional asset classes.”
Regardless, Bitcoin’s mining difficulty was at a record high this week, clouding prospects for more record-breaking revenue for miners.
The increase in difficulty was due to the fact that the hash rate or blockchain computing power could not keep up with the rising price of Bitcoin due to the global shortage of chips
On March 31, the President of the European Central Bank (ECB), Christine Lagarde, said in a Bloomberg interview that the organization could try to introduce a central bank digital currency within four years.
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Here is a list of some of the top cryptocurrencies to watch and how they performed over the past week, as per the percentage change at 9 a.m. ET Sunday April 4th.
Bitcoin BTC | $ 57,850.48
BlackRock has started trading Bitcoin futures. This is evident from filings with the US Securities Exchange Commission on March 31st.
Ethereum ETH | $ 2,070.99
The price of Ethereum hit a new all-time high of over USD 2,060 on Friday, according to data from TradingView. ETH exceeded $ 2,000 for the first time at the end of February. The previous all-time high was $ 2,041 and was hit on February 20th.
Dogecoin DOGE | $ 0.056
Tesla ((TSLA) – Get the report CEO Elon Musk tweeted on Thursday that his aerospace maker and space transportation service provider SpaceX will bring a Dogecoin to the moon. Since Musk tweeted on the April Fools joke, it wasn’t clear whether the tweet was a joke or not.
Binance Coin BNB | $ 343.70
Binance Coin has been up over the past week and is up over 27% over the past week as the price is expected to stay above $ 300.
Cardano ADA | $ 1.18
Cardano had one of the highest percentage returns in the first quarter but is only up 0.51% over the past week
Polkadot DOT | $ 44.24
Polkadot’s coin is up over 35% over the past week. Polkadot helps create a decentralized web created by the Web3 Foundation.
All price developments for cryptocurrencies are referenced and retrieved from Coinbase.