crypto

The USDt balance on the Tron network (USD 25.9 billion) has surpassed Ethereum’s USDt balance (24.4 billion) for the first time. The change comes as USDt surpasses USD 50 billion in market cap and highlights the degree to which blockchain applications are agnostic to the network they’re deployed on.
In the past several weeks, Charles Schwab, NatWest, and HSBC have expressed caution over the adoption of crypto. While the asset class has seen accelerated adoption, there remains plenty of institutional reservation.
After BTC achieved a record high of roughly USD 64,500 on April 14, the asset, along with the broader crypto market, saw an aggressive sell-off. The move was preceded by alt-coin outperformance that added an estimated USD 373 billion to crypto market cap ex-BTC in the past 3 weeks.
Recent interest in DeFi applications has mostly been limited to those on Ethereum while upcoming BTC layer-2 applications have largely been overlooked. We review recent progress to RSK, a smart contract blockchain secured by the bitcoin network. 
Fox Business has reported that the Biden administration is developing a regulatory approach for the crypto space. Broad anxiety over new rules is likely overblown and another unlikely major contributor to last weekend's volatility.
A drop in the BTC hash rate occurred over the weekend with crypto news outlets pointing to coal mining accidents in China as the cause. We believe it was unlikely that the move was a major contributor to the weekend price decline.
ETH’s achievement of new all-time highs coinciding with a major technical issue suggests that the risks associated with common network upgrades are wholly misunderstood. 
In what will always be seen as an historic day for crypto, Coinbase (COIN) was listed and began trading on Nasdaq yesterday. Trading on the shares was characterized by confusion and long delays. The follow on effects of the listing appeared to have more impact on crypto-related equities than did tokens.
In an interview with CNBC, Kraken CEO Jesse Powell said he believes “there could be some [crypto regulatory] crackdown.” The CEO’s remarks come just ahead of competitor Coinbase’s Wednesday IPO. 
Last week, PayPal founder and tech investor Peter Thiel said he wonders “if at this point [BTC] should also be thought of in part as a Chinese financial weapon against the U.S.” Thiel’s remarks don’t reflect the reality of China’s current approach to BTC and crypto.