Crypto Roundup — April 12th

While Bitcoin and Ethereum are resting at the key milestones of $60K and $2k respectively, smaller altcoins are darting ahead, pushing the beyond $2 trillion for the first time.

is the biggest winner of the week with 50% gains, making the market cap of the coin more than $60 billion, bigger than traditional banks including Santander. Close behind, other altcoins have also made big gains, with , , and all boasting a 16% increase.

The rising prices come amidst growing excitement about digital assets. Bitcoin prices in South Korea hit $70k early in the week as the resurfaced, and the cryptoasset was featured on the front page of the famous financial newspaper .

This Week’s Highlights

  • Corporate adoption gathers pace
  • State Street turns to Bitcoin

Corporate adoption gathers pace

Corporations are buying more crypto than ever, with both new entrants and old hands scooping up .

Last week, Californian real estate firm announced it will allocate roughly 1% of its treasury to Bitcoin, and accept the cryptoasset for rent on all its properties.

This follows another big allocation from American business intelligence firm , which has fed its bottomless appetite with another purchase of 253 BTC for $15 million. On the other side of the planet, Chinese app developer has bolstered its own treasury with another $10 million allocation to Bitcoin.

State Street turns to Bitcoin

The second-oldest bank in the United States, , has announced that it will provide trading infrastructure for Pure Digital — an automated over-the-counter market for digital assets aimed at institutions.

Speaking to the Financial Times, Pure Digital chief executive Lauren Kiley said “banks are telling us that they can’t ignore client demand for cryptoassets, and they realise it’s a market they need to get into.”

Her words explain the accelerating race for banks to adopt cryptoassets. State Street joins , , , and several other big Wall Street banks jostling to enter the new market.

Delta has partnered with eToro to allow users to invest via an accredited and bespoke platform.

The week ahead

The longer Bitcoin lingers around $60K, the bigger the breakout that could finally be expected, and two events in the coming week could help pull the trigger on a large move.

On Tuesday, the U.S. government is set to release . This will

be scrutinized for signs of inflation, and could see traders flock to Bitcoin as a safe haven.

On Wednesday, Coinbase’s debut on the Nasdaq could also spark interest in the crypto industry as the IPO raises more awareness of the digital currency ecosystem.

Written by a team of experienced financial analysts at eToro.

This content is for information and educational purposes only and should not be considered investment advice or an investment recommendation. Past performance is not an indication of future results.

Employee at Delta Crypto Portfolio Tracker

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