The founder of SkyBridge Capital – Anthony Scaramucci in a recent interview with CNBC said that the bullish run in 2021 will still continue inspite of the price drop by more than $10,000 in minutes. He believes The Asset is for long term and will come back stronger, this all started after Elon Musk’s attacked bitcoin due to environmental issues. He aslo added that his organization researcher indicated that Bitcoin uses Renewable Energy, and the “overall carbon emission is 0.13%.”
Ethereum products inflows surpassed inflows into Bitcoin for the first time ever according to Digital asset manager CoinShares. Ethereum recorded trading volumes up to $4.1 billion, compared to Bitcoin’s $3.1 billion, and for the first time trading volumes in ETH surged more than in BTC at the firm. Bitcoin investment products recorded $98 million outflows. Ethereum also saw $27 million worth of inflows last week.
Bill Miller, Hedge fund manager and investor Supports the number one Cryptocurrency by market cap, he sees bitcoin as a safe investment and the dipping value makes it even more attractive investment. He declared Bitcoin as a safe investment even after the recent price collapse because it’s even a good buy with the current low buy price. He believes everything will get back to normal so people shouldn’t give up on it.
Committee set up by the Australian Senate will look into crypto assets regulation within the country, in order to strengthen the nation’s fintech sector and encourage financial Innovation. The committee will look into law and policies around cryptocurrencies in Australia and also other measures taken by other countries like Canada, Singapore, the United Kingdom. The Committee will also include policies that will protect the interest of users
San Francisco-headquartered Bank Wells Fargo have decided to add its own cryptocurrency strategy for wealthy clients. The president Wells Fargo Investment Institute (WFII), Darrell Cronkmade this known when he said the bank sees Crypto as a “viable investable asset”. He added the system could be a nice diversifier to portfolio holdings. Major crypto adoption continues as JPMorgan, the largest U.S. bank is set to introduce a Bitcoin fund this summer due to strong customer demand.
Ripple partners with the National Bank of Egypt, the biggest banking institution in Egypt to enable remittance inflows from the United Arab Emirates through LuLu International Exchange. This Partnership will strengthen the MENA region’s financial infrastructure and provide ease in cross- border payment experience for the Egyptian community. Egypt ranks is the 6th-largest remittance recipient in the world, with increasing remittance volume.
Cardano parent company Input Output, launched a new ‘converter’ today that allows users to bring ERC20 tokens onto the Cardano blockchain. The ERC20 converter will allow Ethereum-based tokens like AGI (SingularityNet) to run on its proof-of- stake blockchain. According to the company’s announcement, the converter is coming to testnet soon. 10 project manager Francisco Landino said the converter is designed for token issuers and users.
SOS Ltd. tech company with head quarters in Qingdao, China launched more than 6,000 ETH and BTC mining rigs from 90% renewable energy sources according to its recent announcement. The company now has 575 Ethereum mining rigs and 5,464 Bitcoin mining rigs. The Mining rigs are now active at the company’s cryptocurrency mining center in Sichuan Province. SOS Chief Executive Yandai Wang describes the purchase as progress On digital currency plan.
Nebraska Lawmakers makes progressive move towards passing a bill that will allow state banks to offer cryptocurrency services. Senator Julie Slama said she is ‘‘excited for Nebraska to be a national leader in crypto” which will create a major framework for cryptocurrency and digital asset banks in the State of Nebraska. The bill was pushed forward for enrollment and review on May 10, now adopted and passed to the final stage of approval
Cardano has seen a massive 13X rise in the number of millionaire investors in 2021 alone. According to CoinMetrics, wallets holding ADA with at least $1 million have spiked to 1,231% from 504 to 6,710. The number of ADA active addresses also grew to 417 81% between January 1 and April 28, 2021 with transaction count of 382.84%. This rise was initiated after the 100% decentralization in block production was achieved and the deal on the Ethiopia’s education system.