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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Crypto Roundup: January 4th, 2021

NewsBTC
NewsBTC
4 years ago
2 mins read

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Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Meanwhile, the altcoin rankings have been rearranged. As Ethereum has rocketed past $1K, Litecoin has flippened XRP to become the fourth biggest crypto by market cap. This follows yet more downside for XRP, which has dropped 4% this week as platforms including eToro’s US operation have delisted the coin in light of the SEC’s lawsuit.

This Week’s Highlights

  • Ethereum gets five-figure price tag
  • Okung starts Bitcoin salary ball rolling

Ethereum gets a five-figure price tag

While Bitcoin is now far beyond the previous all-time high of $20K, Ethereum still hasn’t surpassed its 2018 peak of $1.4K.

And yet, the second-largest crypto could now be following it’s bigger brother’s lead. Late on Sunday, Ethereum crossed the $1K mark, concluding a week of almost 40% gains. This milestone comes exactly three years after the same price was surpassed in early 2018.

As Ethereum has made a resurgence, the entire crypto market cap has also hit a fresh all-time high of $880B, breaking the previous record set in January 2018.

Okung starts Bitcoin salary ball rolling

Bitcoin adoption reached a crescendo last week as NFL player Russell Okung said he will receive half of his $13M salary in Bitcoin.

By accepting the cryptoasset as payment, Okung is validating the asset to a whole new audience of sports fans. And, his decision has also got the Bitcoin ball rolling among pro athletes. According to reports from CoinDesk, athletes from two New York baseball and basketball teams are already seeking a similar salary arrangement.

The Week Ahead

As Bitcoin blasts through the stratosphere, cautious traders are pondering the possibility of a 30% pullback, just like those seen in previous bull rallies.

Such a move could take Bitcoin down to $24K, yet this may be counteracted by strong buying pressure from institutional players.

On the front page of this Monday morning’s Financial Times, a big blue Bitcoin logo greets readers for the first time, marking another key moment of acceptance for the leading crypto among the biggest players from traditional finance.

 

 

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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