Crypto markets are in a bullish mood, with Bitcoin rallying over $9000 and most altcoins reporting gains. Metaverse is partnering up with Microsoft to launch an online hardware store which will allow users to purchase goods using digital currency. Elon Musk has announced that he acquired the social media platform Twitter for $44 billion dollars in order to “make it more like Facebook”. With all these developments, ApeCoin is on fire as its price continues its impressive growth from low levels by 8%.
Elon Musk has just bought Twitter for $44B. The “elon musk web 3.0 tweet” is a big move towards the future of social media, and will likely change how we use it.
Every Saturday, Hodler’s Digest will keep you up to date on all of the major news stories from the previous week. A week on Cointelegraph in one link: the finest (and worse) remarks, adoption and regulatory highlights, top currencies, forecasts, and much more.
This Week’s Top Stories
Elon Musk acquires Twitter for $44 billion – how does the crypto community react?
Elon Musk, the eccentric billionaire, acquired Twitter last week for about $44 billion, or $54.20 per share in cash. Musk expressed his wish that “even my worst detractors stay on Twitter, since that is what free expression means” once the transaction was approved.
The response to the purchase was divided, with Dogecoin co-creator Jackson Palmer calling it a “hostile takeover” that was opposed to the spirit of freedom, while Bitcoin bulls Anthony Pompliano and Michael Saylor applauded it.
Ahead of this week’s Otherside land auction, ApeCoin (APE) reaches a new all-time high.
ApeCoin (APE), which is linked with the Bored Ape Yacht Club, achieved a new all-time high of $22.60 on Thursday, fueled by increased interest in the impending Otherside metaverse land auction, which is being hosted by Animoca Brands and BAYC developer Yuga Labs.
On Saturday, Otherside, a new metaverse initiative inside the BAYC ecosystem, will hold an auction of its first 100,000 land pieces. Wallets with a BAYC or a Mutant Ape Yacht Club NFT will be eligible for a free land parcel.
In the San Francisco Bay Area, Meta will build a physical metaverse-themed shop.
Meta, the virtual reality and metaverse hardware company founded by Mark Zuckerberg, is preparing to launch a retail shop in Burlingame, California. The shop, which will be placed on Meta’s Burlingame campus, will include a wall-to-wall curved LED screen that will show what consumers view when they wear Meta headsets.
Demos will be available for virtual reality headsets, video communications displays, and smart glasses at the shop. “The Meta Store is going to let people see how our items may be the doorway to the Metaverse in the future,” said Martin Gilliard, the store’s manager.
According to reports, the Central African Republic will embrace Bitcoin as legal cash.
The Central African Republic (CAR) is said to have enacted a measure this week allowing Bitcoin to coexist with the franc as legal money. The Central African Republic has now joined El Salvador in completely embracing BTC.
The initiative, according to President Faustin-Archange Touadéra’s chief of staff, Obed Namsio, is aimed at making the CAR one of the “boldest and most imaginative” governments in the world. With a total domestic output of $2.4 billion, the country of 5 million people has one of the world’s smallest economies.
The Senate of Brazil has approved a ‘Bitcoin bill’ to govern cryptocurrency.
Brazil’s Federal Senate also took a significant crypto step this week, enacting the country’s first cryptocurrency law. The law would allow the government to establish a regulatory framework for the crypto economy in the country.
Senators have proposed offering incentives to crypto miners to set up business in Brazil, as well as imposing harsh penalties for any fraudulent or unethical activity in the industry.
The bill must next be passed by the Federal Senate’s Chamber of Deputies and signed by President Jair Bolsonaro to become law.
Losers and Winners
Bitcoin (BTC) is at $39,032, Ether (ETH) is at $2,854, and XRP is at At the end of the week, Bitcoin (BTC) is at $39,032, Ether (ETH) at $2,854 and XRP at $0.62. The total crypto market cap is at $1.77 trillion, according to CoinMarketCap..62 at the conclusion of the week. According to CoinMarketCap, the overall crypto market cap is $1.77 trillion.
The top three altcoin gainers of the week are ApeCoin (APE) at 60.14 percent, STEPN (GMT) at 20.28 percent, and Kava (KAVA) at 13.88 percent among the top 100 cryptocurrencies.
Zilliqa (ZIL), Waves (WAVES), and Axie Infinity (AXS) are the top three cryptocurrency losses this week, with -23.84 percent, -23.07 percent, and -23.02 percent, respectively. Read Cointelegraph’s market analysis for more information on crypto pricing.
The Most Memorable Quotes
“Bitcoin’s fundamental worth is greater than its technical and monetary qualities, hence it will never be zero.”
Lili Zhao, Neo’s ecosystem growth director
“There is a pre-pandemic world and a post-pandemic world, and the latter has a lot more government deficits — it has a lot more growth uncertainty.”
SkyBridge Capital’s founder and managing partner, Anthony Scaramucci
“I hope even my harshest opponents continue to follow me on Twitter, since that is what free expression entails.”
Tesla’s CEO, Elon Musk
“When China prohibited crypto mining and trade, we were handed a huge gift – it was a huge blunder on their part.”
Greg Tanaka is a member of the Palo Alto City Council.
“Our poll confirms what we’ve been saying for a long time: the debate about digital assets’ survival is finished; the discussion now is about evolution.”
Bitstamp CEO Julian Sawyer
“The difficulty with [Bitcoin] is that without private commerce, you can’t have really free trade.”
Edward Snowden is a government spy whistleblower.
The Week’s Prediction
Bitcoin is repeating a rare weekly chart signal that caused a 50% drop in the price of the cryptocurrency.
The price of bitcoin has generally remained flat this week, despite some turbulence. During the week, the asset moved above $40,000 and below $38,000, according to Cointelegraph’s BTC price index.
According to “Nunya Bizniz,” a pseudonymous Twitter figure, Bitcoin might be set for a price drop. The downward slope of Bitcoin’s 20-week and 50-week moving averages, according to Bizniz, is a pattern that has historically happened before to 50% price decreases. This chart pattern has already happened twice, with BTC’s price dropping by more than 50% each time.
The Week’s FUD
Security experts warn that STEPN impersonators are collecting users’ seed phrases.
Peckshield, a blockchain security business, discovered many phishing websites for Web3 lifestyle app STEPN. Bad actors have been able to construct and attach bogus MetaMask browser plugins that may be used to steal users’ seed phrases, according to the business.
NFTs from the Bored Ape Yacht Club were stolen in a phishing assault on Instagram.
On Monday, the Instagram account for the Bored Ape Yacht Club NFT project was hijacked. According to multiple unsubstantiated social media claims, a phishing attempt and a phony airdrop resulted in the theft of around 100 NFTs valued a total of $400,000. Because the assault occurred on the one-year anniversary of BAYC’s establishment, users assumed the URLs used to carry out the attack were legitimate.
The New York State Assembly has passed legislation prohibiting the construction of new Bitcoin mining that do not utilize renewable energy.
The New York State Assembly approved a measure earlier this week that would put a two-year moratorium on any new proof-of-work (PoW) cryptocurrency mining operations that use carbon-generated electricity. Current miners who use carbon-powered rigs will not be allowed to renew their licences after they expire, according to the law.
Cointelegraph’s Best Features
Ralf Glabischnig on Crypto Valley and the Crypto Oasis
“A few places throughout the globe will attract individuals who can afford it because it’s a safe environment for their family — and those people will bring the business.”
Why we must fight for a decentralized future because of the loss of privacy
As early blockchain users, we must spread decentralization to the public while also fighting the IT behemoths who are its natural adversaries.
How may blockchain technology affect credit scores if they are decentralized?
Borrowing and lending are both vital aspects of DeFi, but they’ve been lacking in one key component: a decentralized credit rating.
The “Metaverse” is a virtual reality universe that uses blockchain technology. It is a decentralized platform where digital assets can be traded and exchanged. Elon Musk has purchased Twitter for $44B, which means he will now have access to the public’s tweets. ApeCoin had a huge pump on April 24-30, with the price increasing from $0.05 to $0.50 in only one day. Reference: what is the metaverse.
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