Another week has come and gone, meaning it's time to turn around and review all the events that took place. And there were quite a few! Bitcoin confidently holding its level, the hidden white paper Bitcoin file in MacOS, the rise and fall of Dogecoin, and much more!
Let's get started!
Bitcoin exchange rate
Throughout the week, bitcoin remained between $27,000 and $28,800, showing no radical changes. Among all the events of the week, there were no such events that could affect the rate of the first cryptocurrency in a significant way.
Bitcoin white paper in MacOS
A hidden file containing a white paper on Bitcoin has been discovered in Apple's operating system. It was discovered by a regular user who was trying to fix a problem with one of the connected devices and was able to access the virtual scanner that opened the file.
The user shared his discovery on social networks and soon received confirmation that the file was present on all devices running MacOS versions from Mojave (10.14) to Ventura (13.3).
Another user decided to make the task of finding the file easier and wrote a command that opens the file when executed in the terminal. The exact reasons for the Bitcoin white paper on MacOS are unknown, but users speculate that the massive multi-page document may have been used for internal testing of various features.
Dogecoin became Twitter's logo
Elon Musk, the owner of Twitter, continues to promote the meme currency Dogecoin and influence its price. This time, the price of Dogecoin jumped 25% when Twitter replaced its logo with the Shiba Inu dog featured on Dogecoin itself.
The price spike helped boost its capitalization to $13.725 billion. This allowed Dogecoin to bump Cardano (ADA), which has a capitalization of $13.69 billion, from seventh place on the list.
A few days later, when the news of the logo change had already made its way through all media and the initial hype had subsided, Twitter brought back its logo. This apparently led to a pullback in the price of Dogecoin by about 15%.
Notably, just recently, Elon Musk's lawyers asked the court to dismiss the lawsuit accusing Elon of manipulating the price of Dogecoin, as well as the lack of information and risks associated with investing in this cryptocurrency. Such a demonstration of influence on the price of the meme currency could have a negative impact on the outcome of this lawsuit.
Rumors of Binance CEO wanted
On the night of April 3rd, the media reported that the CEO of Binance was wanted by Interpol. The issuance of the red notice was reported by a Twitter user in an encrypted message.
Against this news, the value of BTC and BNB dropped, and many users rushed to withdraw funds from the platform. However, some time later, the user published a post admitting that the information about the notification was fake. The exchange rates quickly regained their previous positions.
MicroStrategy is one of the largest Bitcoin holders
MicroStrategy purchased approximately 1,000 BTCs last month. Including the new BTC, the company owns 140,000 BTC, which at $29,800 is worth $4.2 billion.
Apparently, the company is confident that it will be able to maintain and increase its funds at the expense of investing in Bitcoin. Thanks to such an impressive amount of BTC, the company is rightly one of the largest holders of the first cryptocurrency.
Ahead of the Shanghai update
Tomorrow, April 12, the long-awaited update to the Ethereum network called Shanghai will be released. The main feature of this update is the addition of the ability to withdraw staked ETH, as well as the reward for staking.
Due to a large amount of staked ETH, many users fear that a one-time withdrawal of such a large amount of cryptocurrency could lead to a drop in price. However, according to CryptoQuant, more than half of all staked ETH are in the red. In other words, about half of the validators will not withdraw their funds because it will not bring any profit.
Moreover, most of the remaining validators will withdraw their reward, leaving their main staked ETH untouched. Because of this, the price of the asset should not experience significant drawdowns. The positive side is that there will be less pressure from sellers in the market, as there will be more free and available ETH.
Also, despite all the fears, the price of Ethereum continues to rise and is gradually approaching $2,000 on the eve of the update. At the time of writing, ETH was trading at $1914.
However, there is always a spoonful of tar in a barrel of honey. After an update is released and validators are rewarded, ETH may be recognized as a security. It is believed that the SEC may consider the payment of rewards as proof of investment contracts between users and the staking service. This could be the basis for new lawsuits against Ethereum and the resources that trade it.
It was quite an eventful week. Some were harmless and neutral like MicroStrategy buying more Bitcoin or finding a Bitcoin white paper on MacOS. Others were less pleasant for the crypto community, such as the fake news about Interpol issuing notice on CZ and the subsequent volatility of BNB and BTC.
As usual, the news included Elon Musk, who this time replaced the Twitter logo with Dogecoin, which caused a sharp rise in the price of the asset. A few days later, the logo was removed and the price dropped, making DOGE holders angry.
And that's the end of the news. Be sure to come back next week so we can update you on new and recent developments in the next PointPay Crypto Digest!
Have a great week and stay tuned!
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