Market Activity

Total Market Cap $1.44T (-3.99%)

24 Hour Volume $130.72B (-3.88%)

Notable Movers Holo (HOT) (+15.82%)

Bitcoin Dominance 60.65% (0.00%)

Bitcoin Price $48,559.39 (-1.74%)

Cointelegraph says MicroStrategy's stock has fallen by 50% in 17 days — but Kraken research suggests Bitcoin's next top could be between $75,000 and $306,000. The Block reports that JPMorgan is telling private wealth clients that BTC can be a portfolio diversifier if it's sized correctly.

Your Friday News 📰

Learn all about crypto at Alexandria, your new online crypto source!

Tesla Told to Sell Off Bitcoin 🤔

For many financial analysts, Tesla's decision to buy $1.5 billion of Bitcoin didn't go down well. Now, the company is facing calls to sell off its crypto and buy back TSLA shares instead. Tesla shares fell by 10% in intraday trading to $550, while Bitcoin is struggling to recover from this week's losses. See the full story here.

DeFi Project Suffers $31M Hack 🕵️

In a dramatic series of events, Meerkat Finance — a new DeFi project built on Binance Smart Chain — has had $31 million worth of crypto assets stolen… one day after launch. While the developers went quiet and the site was shut down, many are now crying foul play, with some accusing the project's developers. Read the full story.

Co-Founder of Scam ICO Jailed 🚨

The co-founder of Centra Tech has been sentenced to eight years in jail for his role in an ICO fraud scheme where victims lost more than $25 million. Top boxer Floyd Mayweather previously ended up paying a hefty fine for promoting Centra Tech as part of a settlement where he didn't have to accept or deny the charges. Read more here.

Square Buys Majority Stake in Tidal 💸

Square now has a majority stake in Jay-Z's streaming service, Tidal. There's now speculation that blockchain and crypto will be heavily adopted by the company. Tidal is owned by some of the biggest names in music, including Kanye West, Beyoncé, Madonna, Rihanna and Nicki Minaj.Read more here.

Poll of the Day 📣

Tesla's share price is taking a bath right now. So our question is this...

On a scale of 1-5 (5 being definitely,) should Tesla sell off its Bitcoin?

What You Said 🔊

Back on Monday, we asked you this: On a scale of 1-5 (5 being definitely,) is Ether going to lose its position as the world's No. 2 cryptocurrency?

Thanks for all your responses — it's a very divided picture. While 30.5% of you definitely believe this is going to happen, 23.2% of you are adamant that it's not a possibility. Here's what you had to say…

One fan writes: "It's one of the cryptocurrencies I really trust." ❤️

But there's a lot of criticism out there: "Gas prices are ridiculously high, the system is slow and Proof-of-Work is outdated. BSC along with other competitors are already doing the job of Ether but better."

Here's a balanced view: "Not yet. Ethereum still has a large lead as far as development goes versus Cardano. If I was ETH though, I would be getting a little sweaty each time I looked in the rearview mirror." 😢

We don't know whether this is good news or bad news: "Be patient and you will see." 😕

And we end with an optimistic note for the future: "The move to Proof-of-Stake will enable the network to scale and operate more cheaply." 🚀

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Blockchain Term of the Day: Inflation 🎈

Nerves about bond yields have rocked the stock market this week, and have likely contributed to sell-offs in Bitcoin. Here's a reminder of what inflation is…

A general increase in prices and fall in the purchasing value of money.