The upward trend witnessed over the past few days continues Friday morning and Ethereum is in focus now. The second largest crypto by market cap breached the $800 mark amid several optimistic predictions.
Here is a wrap of the main news from the cryptocurrency and blockchain space over the past 24 hours.
Ether Price Highest Since March 8
The price of Ether broke above $800 Friday, reaching its highest level since March 8. The cryptocurrency native to the Ethereum blockchain climbed by more than 11 percent in 24 hours. Opening at $772 Friday, Ether rose above $803 at one point. The second most popular cryptocurrency’s performance has almost been similar to that of Bitcoin this year. Read more…
Reddit Co-founder Sees Ethereum At $1,500 By Year-end
Reddit co-founder Alexis Ohanian sees the price of Ethereum, the second most valuable cryptocurrency by market capitalization, reaching $1,500 by year end, according to Fortune. He expects the price of Ethereum to rise faster than Bitcoin this year. Ethereum was trading at $796.87, up 11.05 percent, with a market cap of $79.07 billion as of 5 am ET Friday, according to Coinmarketcap. Read more…
Bitcoin May Be Dethroned In 90% Crypto Market Wipe Out, GP Bullhound Warns
Bitcoin and altcoins are likely to under go a 90 percent “mass market wipe out” within the next 12 months that would leave only very few survivors and the top cryptocurrency may lose its dominance in due course, GP Bullhound, an investment bank serving mainly the technology sector, said in a report. GP Bullhound was very optimistic regarding Ethereum and showered praise on its co-founder Vitalik Buterin for making adoption of blockchain a reality. Read more…
Goldman Plans To Set Up Bitcoin Trading Operation: NYT
Investment banking major Goldman Sachs is planning to establish bitcoin trading operation, New York Times reported. If successful, it would be the first Bitcoin trading operation at a Wall Street bank, giving more legitimacy to cryptocurrencies. Goldman Executive Rana Yared, who will oversee the operation, said to the news paper that the bank’s view is that Bitcoin is not a fraud and does not have the characteristics of a currency. Read more…
Peter Thiel’s Founders Fund Backs Tagomi Startup In $15.5 Mln Funding
Founders Fund, the venture capital firm co-founded by angel investor Peter Thiel, participated in an early-stage funding round for Tagomi, a crypto startup that aims to be a broker-dealer for large clients looking for block trades in cryptocurrencies. Tagomi raised $15.5 million in the funding round, though the amount of investment made by the PayPal co-founder’s VC firm remains unknown, the Wall Street Journal reported. Read more…
Australia Cracks Down On Misleading And Deceptive ICOs
Australia’s financial regulator is taking action against deceptive and misleading initial coin offerings (ICOs), citing “a serious breach of the Australian law.” Misleading or deceptive conduct is prohibited under the Australian Consumer Law and the ASIC Act. Read more…
Tutorial: Crypto Lexicon – SATS
Sats is the short for “Satoshi”, which refers to the smallest indivisible unit of a Bitcoin. 1 Satoshi = 0.00000001 BTC. In other words, a Satoshi is one hundred millionth of a single bitcoin. Read more…
Current Prices
As of 9.36 am ET on Friday, Bitcoin was up 3.83 percent at $9,685.61 and Ethereum was higher by 8.5 percent at $802.89 on Coinbase.
by Jyotsna V
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