The shares of CoinBase, the first cryptocurrency exchange to go public, went from USD 250 to USD 381 in a few hours. Morgan Creek believes that the SEC will approve a Bitcoin ETF in the United States but that could happen in one or two years.

In April, the cryptocurrency market experienced various investment product launches, which would make it disruptive. Undoubtedly, this situation can provide investors with a basis on what will occur in the month that has recently started.

There Was a Little Turmoil When Coinbase Went Public

Since March, the cryptocurrency market had been anxiously waiting for the arrival of April 14^th. That day would be the first time that an exchange would list on the stock exchange. Everything happened as planned and Coinbase became a celebrity on Wall Street.

Before the listing, experts like David Trainer, CEO of New Constructs, stated that the expected valuation of the exchange was ridiculous. Although the reference price before that date was USD 250, the shares of Coinbase reached a high of USD 400 in 30 minutes.

However, the price of CoinBase shares approached the reference price at the end of April. At the moment of writing this article, a share is valued at USD 297.

A few days after the listing, the cryptocurrency market learned that insiders of the company sold 12,965,079 shares. This raised conspiracy theories that the lawyer of the cryptocurrency exchange appeased soon.

Many Cryptocurrency ETFs Received Approval outside the United States

In early April, Mark Yusko said that Morgan Creek believes that the SEC will approve a Bitcoin ETF. The increase in the adoption led them to consider a greater likelihood of approval by the SEC.

However, Todd Rosenbluth, ETF Research and Mutual Funds Director in CFRA Research, predicted that Bitcoin ETFs could reach the United States in one or two years.

While the world seems to be moving towards the cryptocurrency market, the United States remains paralyzed. In March, Canada approved a variety of Bitcoin ETFs, as well as the first Ethereum ETF in the world.

In the last week of April, the SEC increased the deadline for the approval or disapproval of VANANCK Bitcoin ETF. Therefore, the United States seems not to be in a hurry to approve an ETF soon.

During the Commemoration of Earth Day, Bitcoin Did Not Pass the Test

On April 22^nd, Earth Day, there was a resumption of the debate on the environmental impact of the pioneering cryptocurrency.

A Square report indicates that there is an opportunity for Bitcoin to make the transition to an increasingly clean and resistant power grid. They titled the report as “Bitcoin is key to a future of clean and abundant energy.”

However, companies like Bessemer Trust highlighted Bitcoin’s energy inefficiency, comparing it with Ethereum.

There has been a growing number of cases of miners that use fossil or, even, nuclear energy. That has caused the environmental concerns about Bitcoin to increase.

The Main Cryptocurrency on the Market Lost Dominance in April

Throughout April, the pioneering cryptocurrency lost a growing part of its market dominance. For that reason, the cryptocurrency market could see this trend throughout May.

The tendency to lose market dominance of cryptocurrencies has persisted throughout the year. The dominance of Bitcoin, in particular, has fallen from 69% in January to 48.58%, its lowest level since August 2018.

By Alexander Salazar

The countdown to Ether becoming a deflationary crypto asset will begin on May 19^th. Developers activated the first testnet to observe the operation of the blockchain after the merger of ETH1 and ETH2.

In recent days, Ethereum developers met to define the path to the London hard fork. This event will activate the EIP-1559 protocol, which will seek to solve problems with high transaction fees.

On Twitter, Ethereum Foundation developer Tim Beiko confirmed that the activation of the London hard fork will occur on July 14^th. They will conduct preliminary tests on various networks, such as TestNet Ropsten, starting on June 16^th. However, they will make the launch to customers on May 19^th.

The developers discussed new improvement proposals and evaluated the scenarios regarding the implementation of EIP 3198. This protocol establishes the base rate operation code under which EIP-1559 will work. Besides, EIP-3238 will delay the ice age, also known as “difficulty bomb”, by around 10 months. This will increase mining difficulty, thus encouraging miners to switch to the Proof of Stake (PoS) chain.

In their discussion, they have not yet defined what other proposals they will include in the next update to the network. However, what the community expects the most from Ethereum is EIP 1559, which seeks to manage the costs of transaction fees. This protocol includes a base rate that will later burn instead of being the payment to the miners who validate the transaction blocks.

The community is begging for EIP-1559 to reduce high fees and make Ether a deflationary asset. However, miners frown on it as it represents the early loss of their income. This occurs long before the network completes the transition to the PoS consensus algorithm.

Activation of a Test Network to Observe the Operation of the Blockchain

Ethereum developers recently launched a testnet to observe the operation of the blockchain after the merger between ETH1 and ETH2. This experimental prototype is operating with the following clients of the ecosystem: Nethermind, Teku, Lighthouse, Prysm, Geth, Besu, and Nimbus.

The Ethereum network is moving forward in its migration process from the Proof of Work (PoW) consensus type to PoS. Currently, it works in parallel with the Beacon Chain, an independent network for the development of the PoS consensus layer.

For the full transition to PoS, all Ethereum development on the PoW network will remain. Meanwhile, the PoS consensus layer merges to replace PoW. The developers will be running the merger on testnets until May 13^th.

When all the tests for the merger are complete, the removal of the consensus layer that keeps the PoW algorithm alive on Ethereum will occur. At that point, the new PoS consensus layer will validate the consensus in all future blocks on the blockchain.

“The merger [between the two blockchains] is not the launch of a new version of Ethereum. [It is] an update of the consensus layer that brings [the network] in line with the original vision established in its genesis,” according to the developers.

There is no final date for the transition yet, but the path shows several hard forks along the way. The activation of Berlin already occurred on April 15^th, and that of London will follow in July, both on the Ethereum mainnet. Subsequently, the Shanghai hard fork could take place in the first quarter of 2022.

By Alexander Salazar

Garlinghouse criticized that there is not as much clarity about cryptocurrency regulations in the United States as in Asia. The CEO finds the position of US authorities on Ripple’s XRP cryptocurrency frustrating.

Ripple CEO Brad Garlinghouse recently criticized US regulators’ position on Bitcoin and other cryptocurrencies. He stated that the authorities of some Asian countries are clearer about the rules of the game for these types of assets.

Garlinghouse told CNBC about the Singapore and South Korea cases. He noted that their governments have thoughtfully worked to define and have clear regulatory frameworks for cryptocurrencies.

The executive believes that the fact that the United States does not have the same degree of legal clarity is something ironic.

Ripple Is in a Court Debate Over a Lawsuit from the SEC

“The US Securities and Exchange Commission (SEC) has said that XRP is a security. For that reason, we are now in a court debate,” Garlinghouse said, referring to the legal battle with US authorities.

The SEC sued Ripple in December for raising capital from investors through what it considers an offering of unregistered securities. The government agency alleged that the company in question sold 14.6 billion units of XRP for USD 1.3 billion.

In January, Garlinghouse claimed that eight different government agencies participated in the investigation against Ripple. He argued that each of them has different and even opposing views on the cryptocurrency. He believes that US market participants are facing contradictory policies, and some of them are rather conservative.

Although the executive says that he feels good about the progress of the trial, he considers it to be “frustrating.”

The SEC Filed a Request for Ripple to Disclose Its Financial Data

Thanks to the intervention of Judge Sarah Netburn on April 13^th, there have not only been negative results for Ripple in court. The official rejected the request that the SEC had filed to force the founders of Ripple Labs to disclose their financial data for the last 8 years.

According to the SEC, the money resulting from the sale of XRP after its investment round would be reflected in the bank deposits of Garlinghouse, Larsen, and their family members. However, Netburn dismissed this argument, noting that a bank deposit would not show the origin of the deposit.

Garlinghouse also said that the cryptocurrency industry should pay more attention to the technologies that they provide to their customers than to scrutiny. He said that he believes the industry should focus on profit and seek more efficient ways to make payments.

Ripple Could Be Publicly Listed on the Stock Exchange Upon Overcoming the Lawsuit

In recent days, Ripple Labs board member Yoshitaka Kitao spoke about the future of the company. He predicted that it could go public on the stock exchange after overcoming the SEC’s lawsuit.

Kitao, who is also the CEO of SBI Holdings, believes that Ripple executives Brad Garlinghouse and Chris Larsen are interested in taking that step. In January 2020, Garlinghouse suggested that Ripple could go public through an Initial Public Offering (IPO).

By Willmen Blanco

The cryptocurrency Ether is about to exceed the market value of the Disney and Procter & Gamble companies. The price of Ether, expressed in Bitcoin, has also hit all-time highs so far this year.

In the past week, Ethereum’s cryptocurrency Ether (ETH) has continued its bullish momentum, hitting all-time highs above USD 2,700. Its market capitalization, slightly above USD 320 billion, recently exceeded that of PayPal. Ether has appreciated by 273% so far this year, more than three times than Bitcoin (BTC) in the same period.

Bitcoin is eighth in the asset ranking by market capitalization, which includes assets such as gold and silver. Meanwhile, Ether surpassed PayPal and is now in 32^nd place.

The second cryptocurrency by market capitalization would still have to surpass the Disney and Procter & Gamble companies. To succeed in reaching 30^th place, its price needs to achieve an increase of 5%.

Taking into account only companies, that is, excluding gold and silver, BTC moves to 6^th place and ETH to 30^th place. Ether is more likely to outperform its closest rivals, while the price of Bitcoin would need to rise by 40% to outperform Google.

Ether Performs Better than Bitcoin

Ether currently has less than a third of the market capitalization of Bitcoin, which is USD 320 billion versus USD 1.018 trillion. However, the difference in capitalization of the first cryptocurrencies was much more marked last year. At the end of April, Ether’s market capitalization was 0.15 times that of Bitcoin. That may mean that the value of Ether against Bitcoin has multiplied by about 2.

Bitcoin has maintained its bullish momentum after dropping by almost 40% in mid-March 2020. However, Bitcoin has remained behind in terms of appreciation against major altcoins. For its part, Ether hit an all-time high of USD 2,700 on April 26^th. At the same time, the European Investment Bank (EIB) announced the launch of digital bonds on the Ethereum blockchain.

Most recently, the price of Ether hit a new all-time high of USD 2,790. Thus, its market capitalization exceeded USD 320 billion. Therefore, Ether now ranks 32^nd among the largest companies and assets by market capitalization in the world. As a result of this appreciation of Ether, PayPal has lost USD 6 billion in market capitalization, moving to 33^rd place.

The price of Ether has also had an upward trend against the pioneering cryptocurrency. At the time of its most recent all-time high, the second cryptocurrency on the market reached a local high of 0.052 BTC. The all-time high in Bitcoin for Ether is 0.1471 BTC, which it reached on July 16^th, 2017. Ether had not exceeded the 0.050 BTC level since August 2018.

At the time of writing this article, Bitcoin is trading at around USD 57,600 and has a market capitalization greater than USD 1,077 billion. The price of Ether is around USD 2,940 and its market capitalization exceeds USD 340 billion, according to data from CoinGecko.

By Alexander Salazar

The sale has raised USD 33,495 so far. The available tokens are for sale on the Bitski platform.

The American presenter and comedian Ellen DeGeneres auctioned three non-fungible tokens (NFT). He did so on April 26 to assist the World Central Kitchen organization, run by Spanish chef José Andrés, which dedicates his efforts to supply food around the world after natural disasters.

The tokens are on the Bitski platform, and $ 33,495 is the total income. DeGeneres also pushed the initiative through her social networks. «I am raising money for World Central Kitchen. I did an NFT, and you can bid on it! You have 24 hours to participate,” wrote the presenter.

The first NFT sold for USD 14,555. It is a 4K video of DeGeneres doing a comedy monologue; the second token is ten versions of the image called Woman With Stick Cat. The presenter appears holding a cat drawing a price of USD 2,500 each. Some of these NFT have already found their owners.

Lastly, DeGeneres offered the third token, and it’s a selfie of her, holding a drawing of a cat. Sixty-four people paid $ 100 each for a digital copy of the image during the 24-hour sales period.

The presenter, who counts on millions of followers in her social networks, has supported various social causes. With the sale of the NFTs, She collaborated with chef Andrés, who holds 2 Michelin stars. Since 2010 directs an NGO that provides “smart solutions to end hunger and poverty, using the power of food to revive communities and strengthen economies.”

DeGeneres Talked About Dogecoin and Security with Cuban

On April 27, the day after the sale of NFTs, the comedian invited the billionaire investor Mark Cuban as a guest on her morning show. They talked, among many topics, about NFTs and cryptocurrencies. During the dialogue, the businessman explained that tokens are “a digital collectable that you can buy, keep and sell like any other collectable.”

Cuban also talked about bitcoin (BTC) and dogecoin (DOGE). He described the first as a “digital version of gold” and the second said that it is a “just fun” digital asset because it went from being a joke to “becoming something that is becoming a digital currency.” He added that said cryptocurrency, as an investment, is “much better than a lottery ticket.”

Cuban also explains one of the realities of trading crypto on platforms that are already targets of regulations is the one about these platforms collecting personal information from users.

Cuban also talked about his Mavericks basketball team and its acceptance of dogecoin as means of payments in the team’s virtual store. Cuban told DeGeneres that she should do the same in her store. DeGeneres mentioned she felt uncomfortable because Robinhood asks for a Social Security number, and Cuban gave the audience some lessons and tips about anti-money-laundering requirements in crypto- platforms.

By: Jenson Nuñez

The IRS that the blockchain analysis was vital to the Investigation. Entrepreneur of the Bitcoin ecosystem raises doubts about the official version of events.

United States federal agents arrested Roman Sterlingov, facing charges related to his alleged involvement in the Bitcoin Fog mixer. This individual faces accusations regarding money laundering and unlicensed money transmission. Around USD 336 million would have passed through this platform throughout its ten years of existence.

The arrest of this Russian and Swedish citizen occurred on April 27, in Los Angeles, California, and issued by the Court of the District of Columbia.

As described in another document of the judicial entity, the arrest occurred after an extensive investigation led by the Internal Revenue Service (IRS). Through the analysis of the blockchain, Internet provider records, financial records and emails, among other elements, it would have come to find the identity of Sterlingov.

According to the IRS, the detainee’s earnings, obtained by charging commissions for the use of the mixer, would reach $ 8 million, which took into account the price of bitcoin (BTC) at the time of each transaction.

A detailed analysis of the Bitcoin Blockchain was vital in the Investigation

The investigation report, written by IRS agent Devon A. Beckett, explains every detail about how the commercial service of blockchain analytics companies played a role to achieve the arrest. “These companies create large databases of group transactions through the analysis of data underlying virtual currency transactions,” explains the agent.

Also, the IRS’s analysis would have determined the source of the funds that arrived at Bitcoin Fog and to which addresses the mixed BTCs went. At least 51 darknet markets are on the list, including Agora Market, Silk Road, Evolution Market, and AlphaBay.

Beckett also said :

“Based on my background and experience, including experience in other darknet investigations, darknet markets exist primarily for the trafficking of illegal narcotics and other illegal goods and services.”

On the sole basis of his “training and experience”, in the report, the broker also said speculatively that the trading operations in those markets, with Bitcoin Fog as an intermediary, constituted “specified illegal activities”. He mentions the distribution of narcotics, stolen personal information, and the sale of computer hacking tools.

According to the official report, it was also the analysis of the blockchain and other elements that made it possible to identify Sterlingov as the leading operator of Bitcoin Fog. On September 29, 2011, the detainee created an account on the Mt. Gox exchanges with his real name.

From that track, through the analysis of transactions and coincidences in financial statements, it would have determined that he was the one who registered the domain of the mixer. However, he tried to keep that operation anonymous.

According to the report, Sterlingov also registered within several centralized exchanges with his accurate details. By following the tracks of coins coming from several of these exchanges, the relationship with Bitcoin Fog could serve as a tool to unveil the crime.

By: Jenson Nuñez