Ether continues its recent rally


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Ether has continued its recent market dominance by hitting a new all-time high above 3,600 USD. This happened after he had surpassed Bitcoin and several other leading cryptocurrencies in recent weeks.

Ether rises above 3,600 USD

The second largest cryptocurrency by market capitalisation, Ether, has had a very enjoyable week. The cryptocurrency broke through the 3,500 USD mark and set a new all-time high above 3,600 USD. This means it has increased by more than 20% in the past week, while its monthly profit is over 60%. Bitcoin again has fallen by about 3% in the past month. The rally brought a lot of positives: Ether market capitalization reached $ 400 billion for the first time in its history. However, it is still far from that of Bitcoin (a market capitalization of 1.0 trillion USD). Nevertheless, Ether built up a significant lead over the third largest crypto Binance Coin (BNB). The BNB market capitalisation is around USD 100 billion.

This rally has made Vitalik Buterin the youngest cryptocurrency billionaire. The 27-year-old co-founder of Ethereum holds 333,520 ETH, which corresponds to more than one billion dollars at the current Ether trading price. In addition, Ether’s option trading volume surpassed that of Bitcoin for the first time in history. Ethereum’s option volume on the major exchanges was $ 1.32 billion, while Bitcoin only recorded a volume of $ 879 million.

eBay could introduce Crypto Payment Options

As one of the largest e-commerce platforms in the world, eBay is considering introducing a crypto payment option for its users. The company CEO said that crypto payment options are becoming more popular and that the company could implement such in the future. In addition, the CEO confirmed that eBay is looking for opportunities to enter the non-fungible token (NFT) market. NFTs have become increasingly popular in various areas of the global economy. They enjoy increasing acceptance by artists, celebrities, athletes and media companies. eBay is planning to develop a platform to help people buy and sell collectibles as NFTs.

S & amp;P Dow Jones Introduces Three Cryptocurrency Indices

Earlier this week, S&P Dow Jones, the company behind the S&P 500 and the Dow Jones Industrial Average (DJIA), introduced three indices that track Bitcoin and Ethereum performance. The indices of the Ether-based S&P Ethereum Index (SPETH), the Bitcoin-based S&P Bitcoin Index (SPBTC) and the S&P Cryptocurrency MegaCap Index (SPCMC). The SPCMC tracks the performance of Bitcoin and Ether. The weighting is based on the market capitalisation. The indices allow you to measure the performance of the two leading cryptocurrencies over a certain period of time. They will compete with Bitwise and the Bloomberg Galaxy Crypto Index. These were the only available standards on the market so far.

NYDIG partners with FIS to enable banks to offer Bitcoin services

NYDIG has teamed up with fintech company FIS to launch a new service. This will enable banks to offer Bitcoin services to customers. The new service allows you to buy, sell and hold Bitcoins through your traditional bank accounts. According to the FIS, more people need to gain access to the cryptocurrency market. This could succeed if banks offer various basic Bitcoin-related services. NYDIG is intended to provide a secure custody and trading platform for the management of Bitcoin transactions. The partnership was formed due to the high demand for cryptocurrencies. If the new solution prevails, billions of people can buy Bitcoin.

Goldman Sachs expands its cryptocurrency presence

The leading investment bank Goldman Sachs is increasing its presence in the cryptocurrency sector. This week, the bank revealed that it had begun offering investors access to non-deliverable forward contracts (NDFs). Forward transactions are linked to the Bitcoin price and are paid in cash. Goldman Sachs stated that institutional demand for cryptocurrencies has increased massively in recent months, which has made the introduction of these investment instruments necessary investment vehicles.

Goldman Sachs also led a $ 15 million round of financing for Coin Metrics earlier this week. The company is one of the leading providers of crypto financial information and plans to use the funds to expand its activities. Coin Metrics aims to offer its services to more institutional customers in different parts of the world.

Coinbase will close its headquarters in 2022

The US cryptocurrency Exchange Coinbase will close its headquarters in San Francisco in 2022. The company said it would focus on working in the home office to promote a decentralized workforce. According to the crypto exchange, the company shows through the transition to working from home that every job is as good as the other. However, Coinbase will offer employees a network of smaller offices to work from there should they so desire. The move is intended to offer employees a better work-life balance. The move comes less than a month after the crypto exchange became a publicly traded company. With a market capitalization of over $ 50 billion, Coinbase is one of the most valuable crypto companies.

Galaxy Digital will take over BitGo

Galaxy Digital, the company of Mike Novogratz, will acquire BitGo through a contract worth about $ 1.2 billion. BitGo is one of the leading independent infrastructure providers for digital assets. The acquisition will give Galaxy Digital the opportunity to position itself as the world’s leading full-service platform for institutional investors looking to enter the crypto market. BitGo shareholders are expected to receive 33.8 million newly issued common shares and $ 265 million in cash from Digital Galaxy.

IRS requests Kraken to provide Customer data

The US crypto exchange Kraken received a court order to transmit relevant customer data to the Internal Revenue Service (IRS). The IRS requests customer data from multiple crypto trading platforms as it takes action against traders and investors who refused to report their crypto earnings. According to the tax authority, crypto traders must meet their tax obligations like any other taxpayer in the United States. The IRS said Kraken was not to blame. Only traders and investors who have not reported their crypto income are prosecuted.