Latest Market News
Coinbase made the headlines recently when it filed its S-1 on February 25 2021 to use a direct listing to offer its shares instead of a traditional initial public offering (IPO). This decision to eschew the traditional IPO process signals the first large-scale direct listing on the Nasdaq. In the lead up to its announcement, shares traded on the Nasdaq Private Markets at $373, yielding a company valuation of over $100 billion.
The Cardano platform has recently added NFTs to its platform. NFTs have been gaining in popularity, and right now, it appears that everything will be tokenized via NFTs, from Jack Dorsey's first-ever tweet to the Kings of Leon's latest album.
Over the past two months, the BNB token, developed by the Binance cryptocurrency exchange, has increased in value by 1000% and took the third place in terms of cryptocurrency capitalization after Bitcoin and Ethereum.
Nifty’s is a company creating a platform that combines collecting NFTs and social media. According to the team, their platform is designed to make NFTs accessible to everyone, and connect brands and creators issuing NFTs with their target audience. Nifty’s will launch "later this spring".
The price of Bitcoin dropped by a sharp 10% over the course of the past week as it falls as low as $51,640. There it found support at the .618 Fibonacci Retracement level and has since rebounded back above $52,000 as it makes an attempt to reclaim $53,000.
An auction for an NFT representing the first ever tweet concluded with the winning bidder offering a whopping $2.9 million. Jack Dorsey, the CEO of Twitter, made the tweet on March 21, 2006, just over 15 years ago.
U.S. Federal Reserve chairman Jerome Powell has again commented on cryptocurrencies, stablecoins and other digital forms of money.
Bitcoin saw a sharp 6.1% price drop today as the cryptocurrency falls beneath the $54,480 support (.382 Fib Retracement) and hits $54,240. This price drop has now caused Bitcoin to crash beneath a symmetrical triangle consolidation pattern as short-term bearish momentum starts to take control within the market.
Bitcoin managed to create a fresh ATH price above $60,000 last week. The cryptocurrency has since started to move sideways inside as short term symmetrical triangle pattern but is doing well to hold the support at $57,150. Nevertheless, a fresh ATH was just a few days ago and this has injected lots of positivity into the altcoin markets.
As we move through the third month of the year, a number of cryptocurrency projects are moving ahead with continued development, and this week’s choices are set to benefit from significant updates and announcements that should strengthen their market positions and benefit their communities. The news should also result in increased amounts of attention to each respective currency over the coming weeks.
