Meanwhile, the altcoin rankings have been rearranged. Such as Ethereum has risen past $ 1K, Litecoin has freaking out XRP to become the fourth largest crypto by market capitalization. This follows another downside for XRP, which is down 4% this week as platforms inclusive eToroThe US operation has the mint in light of the SEC’s lawsuit.
This week’s highlights
- Ethereum will be given a five-digit price tag
- Okung starts rolling the Bitcoin salary
Ethereum will be given a five-digit price tag
While Bitcoin is now well past its previous all-time high of $ 20,000, Ethereum still hasn’t surpassed its 2018 peak of $ 1.4,000.
And yet, the second largest crypto could now follow its bigger brother’s lead. Late Sunday, Ethereum crossed the $ 1K mark and closed a week with a gain of nearly 40%. This milestone comes exactly three years after the same price was exceeded in early 2018.
While Ethereum has seen a resurgence, the cryptocurrency’s full market cap has also hit a new high of $ 880 billion, breaking the previous record. January 2018.
Okung starts rolling the Bitcoin salary
Bitcoin adoption hit a crescendo last week when NFL player Russell Okung said he will receive half of his $ 13 million salary in Bitcoin.
By accepting the cryptoasset as payment, Okung validates the asset for a whole new audience of sports fans. And his decision also got the Bitcoin ball rolling among professional athletes. According to reports from CoinDesk, athletes from two baseball and basketball teams in New York are already looking for a comparable salary plan.
The coming week
As Bitcoin rages through the stratosphere, cautious traders are pondering the possibility of a 30% downturn just like previous bull rallies.
Such a move could bring Bitcoin down to $ 24K, but this can be countered by strong buying pressure from institutional players.
On the front page of this Monday morning Financial times, a large blue Bitcoin logo greets readers for the first time, marking another important moment of adoption for the leading crypto among the biggest players in the traditional financial world.