Good morning. Welcome to Wednesday Watch, part of our new series: BitPinas Daily. We will look at the price of Bitcoin, Ethereum and the major cryptocurrencies. Crypto is global, but sometimes news that matters happens while we sleep. So we bring to you what’s happening in our space here and abroad.
Market Price as of March 31, 2021:
Bitcoin closed March 30, 2021, at $58,669 per BTC. We’re up 7.8% in the last 7 days and up 103% since the year began. This is also 4.93% below the all-time high of $61,711, which was hit on March 13, 2021.
Bitcoin’s market capitalization stands today at $1,098,454,721,445 which is 57% of the entire cryptocurrency market. The entire crypto market, by the way, now has a market cap of $1,899,712,415,756 (+2.7%).
On the table above, there’s the cryptocurrency SLP. If you wonder what that is, check out this article: Playing Axie Infinity vs Minimum Basic Salary in the Philippines.
Tether Assures: All Stablecoins Are Fully Backed
In an assurance report, Tether, the company behind the stablecoin USDT, reported that its consolidated assets exceed its consolidated liabilities. The report was delivered by Moore Cayman, an accounting firm, which is the one who made the assurance opinion.
The report did not describe how Tether’s reserves are held, however. When asked for comments by The Block, a general counsel said: “All Tether tokens are fully backed by Tether’s reserves, as this opinion demonstrates.” The counsel also said that Tether holding its reserves in cash and cash equivalents has been clear for years already.
USDT is still the largest stablecoin in the world with over $42 billion in total circulating supply.
[Reminder] Upcoming NFT 101 Livestream for Filipino Artists
Tesla Just Helped Patch a Bug in This Open Source Bitcoin Payment Processor
“We want to thank @teslamotors for filing a responsible disclosure, helping us with remediation, and handling the situation professionally. We also want to thank Qaiser Abbas, an independent web-security researcher, for an additional responsible vulnerability disclosure that was handled in this release,”
Axie Infinity Twitter Account Suspended
On March 29, the Axie Infinity Twitter account, as well as the account of its growth lead Jeff Zirlin have been suspended by Twitter for unknown reasons. Sky Mavis, the company behind the game, said they have started an appeal to get the accounts reinstated. Sky Mavis, however, believes that malicious actors have mass reported both accounts to hurt the community.
The community has stepped up in support of Axie Infinity using the hashtag #FreeAxieIninity and #FreeJihoz.
What else is happening
- Michael Jordan Joins $305M Investment in Firm Behind NBA Top Shot
- Galaxy Digital Prepares for US Listing in 2021, Names New CFO
- NFT Art Market SuperRare Raises $9M From Mark Cuban, Samsung, Others
- BNY Mellon Weighs Controversial Bitcoin Valuation Model
- Bitcoin is outshining gold in the battle of the safe havens
This article is published on BitPinas: Reminder: Upcoming NFT 101 Livestream for Filipino Artists (March 31, 2021)