Fri. Feb 5, 2021

“Dogecoin is the people’s crypto.” 🚀

– Elon Musk

Market Activity

 

Total Market Cap $1.17T (+5.41%)
24 Hour Volume $163.69B (-4.14%)
Notable Movers Ox (ZRX) (+85.16%)
Bitcoin Dominance 60.69% (-1.01%)
Bitcoin Price $38,228.71 (+1.98%)

 

Coingape says social interest in Bitcoin is dropping as altcoin mania continues. Bitcoinist says BTC is poised to form a golden cross that could extend the 2011 rally. U.Today reports that Kiss frontman Gene Simmons has revealed that he’s a Bitcoin millionaire. Modern Consensus writes that a Goldman Sachs executive has said BTC is too volatile to be a store of value.

 

Your Friday News 📰

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

Is GameStop Going to Make a Comeback? 👀

Robinhood has announced that it is easing restrictions on the purchase of GME shares. Now, the trading app’s users will be able to buy 100 shares of GameStop instead of 20. It remains to be seen whether this will be enough to reverse a dramatic decline in the stock price. Instant deposits for crypto purchases also appear to have been re-enabled. Here’s the latest.

ETH Transaction Fees Are Through the Roof 💸

Average transaction fees on the Ethereum blockchain have now hit $23.37 — almost seven times higher than where they were at the start of the year. Some exchanges are buckling under the strain of these gas fees, with the Liquid trading platform suspending ETH withdrawals altogether. Find out more about the consequences of the ETH fee spike here.

Millions Stolen in Yearn.Finance Exploit 😭

A yearn.finance vault has been exploited — with $11 million lost and the attacker walking away with $2.8 million. YFI took a tumble as news of the hack emerged, with the governance token plunging from $34,716 to $30,231. It appears that a AAVE flash loan was used. Blockchain intelligence firms have been warning that DeFi hacks are on the rise. Read more here.

Jack Dorsey is Running a Bitcoin Node 🙌

Twitter CEO Jack Dorsey has revealed that he’s running his very own Bitcoin node. This is the software that keeps the BTC blockchain ticking over — storing every transaction that’s ever been made on the network. The long-time fan of Bitcoin told one of his followers that he’s running the node on an Apple computer with an M1 chip. Read more here.

 

Poll of the Day 📣

A big contributor to Bitcoin and Dogecoin gains of late has been Elon Musk — but research this week warned that the markets could spiral downwards if he tweets something negative. So our question is this…

On a scale of 1-5 (5 being definitely,) are you worried that Elon Musk could end up crashing the crypto markets with one of his tweets?

 

 

Alexandria’s Best Bits 📖

Looking for some in-depth insights into market movements? Here’s what CoinMarketCap Alexandria can offer…

 

Key insights of the crypto bull market! As the crypto market takes off to a running start in 2021, IntoTheBlock breaks down the emerging trends.

Hype or legit? How can you assess if a blockchain project has real potential? Our friends at Flipside Crypto tell all.

 

 

Blockchain Term of the Day: Ashdraked 😎

As short-selling hedge funds continue to lick their wounds following the GameStop debacle, here’s a reminder of what “ashdraking” means…

 

The complete loss of a trader’s total invested capital, specifically as a result of shorting Bitcoin.

 

 

Thanks for reading! Have an epic weekend! 👋