Musk raised the price of Bitcoin, Ethereum has a new record

Hello everyone, this is our weekly crypto digest. Here you’ll find everything from a weekly market summary and top news to the hottest new listings on exchanges, and even memes to cheer you up. To get these updates as soon as we post them, follow us on Twitter.

Weekly Market Summary

Bitcoin skyrocketed as much as 20% on Friday after Elon Musk added the hashtag #bitcoin to his Twitter bio. The virtual currency climbed at around 3:30 a.m. ET, adding $5,000 just in one hour, to trade at $37,299. 

It’s not the first time that Musk’s tweeting habits lead to a spike in the asset’s price. The entrepreneur also helped extend a rally in GameStop’s share price on Tuesday, after tweeting “GameStonk” and linking to the WallStreetBets Reddit community.

Ethereum hit all-time highs on Wednesday, breaking above $1,500, as traders started buying the cryptocurrency right before the launch of Ethereum futures on the Chicago Mercantile Exchange next week.

Ethereum has seen year-to-date gains of around 120% compared to bitcoin’s 30% and hit a new high of $1,576.7 in the early hours on Wednesday, London time.

Quick weekly news:

• Bitcoin is an ‘Emerging Competitor’ to Gold, Says CME’s Chief Economist: Read more here.

• Reddit-Fueled Meme Stocks Are Tanking Hard—GameStop Losses Near $20 Billion While Dow Jumps Another 500 Points: Read more here.

• PayPal to offer crypto payments for merchants, limited trading on Venmo: Read more here.

• Kiss’ Bassist Gene Simmons Buys Dogecoin and XRP: Read more here.

Other notable events include:

– Indian government does not support cryptocurrency

– New blockchain-developer report

Parliament against cryptocurrency

India’s Parliament is considering a bill that would ban “private,” non-sovereign currencies, including cryptocurrencies. This is the latest attack on the growing crypto industry in the country after a two-year ban was overturned by the country’s supreme court in March 2020.

The Cryptocurrency and Regulation of Official Digital Currency Bill 2021 also looks to create a framework for an official digital currency to be issued by the Reserve Bank of India (RBI). The scope of the bill is still being debated andleaves room for unspecified exceptions.

Outliers and developers

Outlier Ventures, a fund and accelerator pertaining to Web 3.0, has released its latest blockchain-developer report, with findings that hew closely to previously reported estimates. According to Outlier’s data, Ethereum was the most actively developed blockchain in 2020, followed by Cardano and Bitcoin. The venture firm relied on the number of code commits.

Here are the hottest exchange listings of the last week: 

New Listing on Binance:

– Firo (FIRO/USDT FIRO/ETH FIRO/BTC)

New Pairs on Binance:

– DOGE/TRY BETH/ETH DOGE/EUR

– DOT/NGN DOGE/AUD DOGE/BRL

– PROS/ETH

New Listing on Huobi:

– IoTeX (IOTX/ETH IOTX/USDT IOTX/BTC)

– Flow Protocol (FLOW/BTC FLOW/ETH FLOW/USDT)

New Pairs on Huobi:

– YFI/HUSD SUSHI/HUSD

– AAVE/HUSD KAVA/HUSD

– THETA/HUSD MKR/HUSD

– DOGE/HUSD

New Listing on FTX:

– Norwegian Krone (NOK-0326 NOK/USD)

– Ren (REN-PERP REN/USD)

– MAPS (MAPS/USD MAPS/USDT)

New Pairs on FTX:

– WSB-0326

By the way, our PRO plan includes new Exchange Listing alerts for all 27 exchanges in the app. Become a PRO and receive an instant notification when a new coin is listed on Coinbase Pro, Binance, or your exchange of choice!

 

The Nervos Network is a Chinese open-source project and collection of protocols and public blockchain ecosystems that aim to solve the biggest challenges that blockchains like Bitcoin and Ethereum still face.

The CKB token is the network’s native token and represents rights to occupy state storage on the network. CKB is also used as a payment method for block rewards, transaction fees. Also, it’s a means to earn staking rewards via the NervosDAO.

The Nervos ecosystem uses one more type of token – Common Knowledge Byte. CKByte is a utility token to use within the network.

😋Recent announcements:

Nervos CKB in a Nutshell

Nervos Network (CKB) Price Prediction 2020, 2021, 2022, 2025, 2030

🔥DYOR:
– Website

– Twitter

 

We have prepared for you top-performing coins of Feb 4.

UMA has managed to become the best performing asset from TOP-100, gaining 112.93% within the last 24 hours.

FunFair was the worst-performing asset from TOP-100 (again), losing 22.41% within the last 24 hours.

To get up-to-date reports on gainers and losers during the week, follow us on Twitter. 

 

Top crypto meme of the week

😅🐕

 

We hope you found this digest useful and informative! If you want to be the first one to receive new crypto insights and stay up-to-date with the market, follow us on Twitter. Happy trading with the Good Crypto app!