top of page

Crypto Insights 12/05/2021

Updated: Jul 1, 2021

by Harry Smyth

So far this week, Bitcoin left the $59,600 area early Monday morning and made its way to $53,500 by 9pm the same day. Since Monday evening, price is gradually climbing back up and currently just shy of $57,000. On another hand, Ethereum is flying. Having pushed up from $3,900 to $4,200 on Monday, price then retraced back down to $3,650 before a continuing going up with price currently at $4,300 having made a new all time high at 7am this morning at $4,370. This new high made its market cap briefly reach $500 Billion & is also $2 Billion ahead of Visa. Nine rare NFT digital collectables known as “CryptoPunks” have sold for almost $17 Million at physical auction house Christie’s. Needless to remind you that Christie’s sold an NFT created by Beeple for a record of $69 Million back in March. Investing legend Stanley Druckenmiller recons that there is a possibility of a crypto-derived ledger system that will replace the dollar as the World’s reserve currency in the next 15 years. Canine-themed meme tokens such as ELON, SHIB and DOGE have taken control of the market. Demand for Shiba Inu coin known as SHIB has been so intense that buyers overwhelmed the Binance system with deposits causing the top exchange to run out of deposit addresses. Binance smart chain-based Australian Safe Shepard known as ASS token has gained over 400% in 24hrs & Elon Musk inspired coin ELON has rallied 170%. Members of the Texas House of Representatives have passed a bill which aims to recognise cryptocurrencies under commercial law in the state and is seeming to encourage Bitcoin mining firms to set up shop in the state. Data analytics giant Palantir has announced that they now accept Bitcoin payments and are also adding it to their balance sheet, very much like MicroStrategy & Tesla. An Irish senior manager at Goldman Sachs in London has quit the US investment bank after making millions from investing into DogeCoin however he did not respond to requests for comment. Finally, the overall cryptocurrency market cap now stands at $2.449 trillion with Bitcoin’s dominance rate at 42.8%.

We hope you enjoyed the insight. Please feel welcome to take a couple of minutes to write a quick review on TrustPilot. If you are not yet trading with us, you can open an account in a few quick steps by clicking on the button below. Best regards, GlobalBlock Team.

Comments


Commenting on this post isn't available anymore. Contact the site owner for more info.
GB_CC_May_Digital Asset Trading_Whiteout
  • LinkedIn
  • Twitter
  • Facebook
  • Instagram
  • YouTube
  • telegram logo

GlobalBlock EU ApS is a company incorporated and registered in accordance with the applicable laws of the Kingdom of Denmark as virtual asset service provider, with registration number (CVR-number) 45126382. GlobalBlock EU ApS is wholly owned by GlobalBlock Holdings., a company registered in England and Wales with registration number 15929099 . GlobalBlock EU ApS is not a licensed financial services provider and is not supervised as such by the Danish Financial Supervisory Authority. GlobalBlock EU ApS is supervised with respect to anti money laundering by the Danish Financial Supervisory Authority within the scope of the Danish Act on Prevention of Money Laundering and Terrorist Financing and other legislation stemming thereof.

.
GlobalBlock Europe, UAB is a company incorporated and registered in accordance with the applicable laws of the Republic of Lithuania as a virtual currency depository wallet operator and virtual currency exchange operator, with registration number 306045642. GlobalBlock Europe, UAB is wholly owned by GlobalBlock Holdings Ltd., a company registered in England and Wales with registration number 15929099,  GlobalBlock Europe, UAB is not a licensed financial services provider and is not supervised by the Bank of Lithuania. GlobalBlock Europe, UAB is supervised by the Financial Crime Investigation Service under the Ministry of Interior of the Republic of Lithuania within the scope of the Law on Prevention of Money Laundering and Terrorist Financing of the Republic of Lithuania and other legislation stemming thereof.
 
Investors should be aware that cryptocurrencies are volatile investment instruments that carry a high degree of risk to the capital investment. The information in this website is not intended and should not be construed as an offer, solicitation or recommendation to buy or sell any specific investments or participate in any specific investment (or other) strategy. The products and services outlined on this website may not be suitable for all types of investors. The value of an investment can go down as well as up, and you may not get back the amount you originally invested. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Before trading, please take into consideration your level of experience, investment objectives, and seek independent financial advice if necessary. It is your responsibility to ascertain whether you are permitted to use the services of GlobalBlock Europe, UAB based on the legal requirements in your country of residence. The information in this website is for information purposes only and is subject to change. No part of this website can be reproduced without written permission.


 Client fiat is held with GlobalBlock in accounts with BCB Limited,and does not meet the definition of Electronic Money (e-money). Client fiat and cryptocurrency are not “safeguarded” nor covered by any compensation scheme. Clients could potentially lose their cryptocurrency or fiat if something were to happen to GlobalBlock or, BCB.

Cryptoasset Notice

Cryptoasset services are provided by GlobalBlock Europe, UAB (“GlobalBlock”).   Cryptoassets are not regulated in any jurisdiction and the value of your assets can increase or decrease. You should note that your cryptoasset profits may be subject to Capital Gains Tax.

The service you obtain through the website or the app in the UK, contains cryptoasrvices not regulated by the Financial Conduct Authority. Please be aware that:

  • You will have no recourse to the Financial Ombudsman Service in the event of a complaint relating to cryptoasset services.

  • Your cryptoasset account is not protected by the Financial Services Compensation Scheme.

  • Cryptoassets may experience frequent price volatility resulting in a high degree of risk.

bottom of page