Latest Market News
Electric vehicle company Tesla sold $272 million worth of Bitcoin in Q1 2021, according to the company’s first-quarter results. The firm says that its Bitcoin sales in the quarter contributed $101 million in "positive impact, net of related impairments".
The JUST NFT Fund is continuing its streak of collecting high-value artworks and registering them as NFTs on the TRON blockchain. The latest piece to be added to the JUST NFT Fund collection is "Femme nue couchée au collier", a 1932 piece by Pablo Picasso. The painting was purchased for $20 million at a Christie’s auction.
The Binance cryptocurrency exchange is setting its sights on the emerging NFT (non-fungible token) sector. The exchange has announced a new product called Binance NFT which is expected to make its debut in June.
After a fortnight of negative pressure, Bitcoin finally managed to reverse and rebound back above the $50,000 level at the start of this week. This rebound has brought new life into the cryptocurrency industry and has started to help a lot of altcoins to also start a recovery this week. Some of them have even managed to go on and create new ATH prices.
Week 16 of 2021 was in many ways similar to Week 15 – bullish or sideways trading during the weekdays and a market correction during the weekend. And this week’s weekend correction was a big one. On Friday, April 23, Bitcoin dropped below $50,000 for the first time since early March and other cryptos followed along with even greater losses. The total cryptocurrency market capitalization dropped as low as $1.75 trillion, causing some investors get scared to the bones. However, sharp moves like that are nothing extraordinary on the cryptocurrency markets. Despite the dip, here we are again, entering a new week with optimism and trying to point you to the most promising coins and tokens for Week 17.
Decentralization can be the new global monetary system if only we drive mass adoption and attract traditional markets, which we will do through good governance and compliance.
Bitcoin has finally started to show some strength again with today’s 4% price hike pushing it back toward the $55,000 level. The coin had seen a rough fortnight since setting a new ATH price above $64,000 during the middle of April. Since then, it has been in a consistent downtrend and actually became the most oversold it has been since March 2020 according to the RSI.
A Bitcoin Cash holder and host of the 1stmil.com YouTube channel made a video in which he offered an interesting deal to Elon Musk: he will order 111 Tesla Model 3 cars if he can purchase them with the Bitcoin Cash cryptocurrency.
History shows us that market corrections like the one seen recently are a common occurrence on crypto markets. Therefore, there's likely not a legitimate reason to panic just yet. To help you better understand the recent Bitcoin price movements, we have laid out the circumstances that fuelled the BTC rally as well as events that could have contributed to the April 23 dump.
MATIC is starting to grow significantly after seeing another 40% price hike today, allowing the cryptocurrency to break above $0.5 again. The cryptocurrency is now up by an enormous 1,330% over the past three months.
