3 April

“Ether jumped 5% Friday to a new all-time high as the second-biggest cryptocurrency extended its winning streak to five days. The price has rallied 18% this week in the wake of Visa’s decision to facilitate crypto-based settlements on the Ethereum blockchain network. ETH has nearly tripled in price this year.

Billionaire investor Mark Cuban, who hosts the CNBC show “Shark Tank” and owns the Dallas Mavericks professional basketball team, said on a recent podcast episode that he’s bullish on cryptocurrencies including bitcoin, but that Ethereum is “the closest we have to a true currency.”

The options market is [also] making big bets on the second-largest cryptocurrency. Traders are aggressively buying the $25,000 call option expiring on Dec. 31, 2021.

See Also: Mark Cuban owns 30% ETH because it’s ‘closest to a true currency’
See Also: Ethereum season? ETH options traders are placing big bets for June

“Clayton said bitcoin had the status as a non-security at the SEC but this does not mean it should not be regulated. Ex-SEC Chair Jay Clayton warned new regulations around bitcoin could be coming soon.

Where digital assets land at the end of the day will be driven in part by regulation both domestic and international, and I expect that regulation will come in this area both directly and indirectly.”

Central bank digital currencies (CBDCs) could potentially facilitate powerful, directed “money drops” and raise inflation expectations, according to a March 31 report by Bank of America.

CBDCs represent the next frontier for central bank stimulus, potentially acting as a potent conduit for policies such as stimulus checks, emergency lending programs, UBI (universal basic income), inducing a more powerful, directed ‘money drop.’

The evolution of central bank digital currencies is likely to increase inflation expectations, boosting the case for inflation assets in the 2020s.”

“Bitcoin decouples from stocks and gold but remains inversely correlated to the U.S. dollar.

The accumulation of bitcoin during the first quarter by major public-listed firms such as Tesla validated the long-held belief in digital-asset markets that the cryptocurrency could serve as a reserve asset or a digital alternative to gold. That likely offered investors clarity on bitcoin’s use case or value proposition relative to traditional markets and weakened the cryptocurrency’s mild positive correlation with stocks and gold.”

See Also: U.S. Added More Than 900K Jobs In March, Blowing Past Estimates

“The release means that any project building on the Substrate framework — which includes Polkadot and Kusama parachains, as well as independent blockchains — can integrate Chainlink oracles through a simplified library.

The complete Chainlink integration is likely to be welcome news for DeFi-centric parachains like Moonbeam, Equilibrium or Acala.”

“Data from CoinGecko shows that the total value locked (TVL) on all DeFi platforms has steadily grown since the market pullback at the end of February, with the TVL for the entire DeFi sector now standing at a record-high of $74 billion.

PancakeSwap (CAKE) and Venus (XVS) have both seen their TVLs increase by more than 30% over the past week while THORChain (RUNE) and Alpha Finance (ALPHA) have increased 61% and 47%, respectively.

Notable gains from Ethereum based projects include a 26% gain in TVL for AAVE and Balancer (BAL), while the newly launched Vesper (VSP) protocol has rapidly amassed $1.64 billion over the past six weeks, reflecting a 35% increase in the the past seven days.”

“A Massachusetts court is supporting a request from the IRS to obtain the records of Circle customers. The judge authorized a request from the IRS to issue a “John Doe Summons” on all Circle and Poloniex customers who transacted $20,000 or more in crypto between 2016 and 2020.

The IRS told the court it needs the documents to ensure crypto users are paying their taxes.”