Crypto Roundup — April 26th

The crypto rollercoaster has taken another sharp turn, with hitting all-time highs last Thursday just before Biden’s plans to hike triggered a sell-off across global markets.

plunged below $50K on the news, falling for five consecutive days before bouncing to $52K. Ethereum, on the other hand, managed to weather the storm and emerge with 13% weekly gains. It was joined by a few other resilient altcoins including which rose 12%.

This sudden downturn rattled the crypto market, swinging the right round to the lowest level since March 2020 when pandemic fears caused Bitcoin to halve in price.

This Week’s Highlights

  • eToro lists Uniswap and Chainlink
  • Venmo embraces crypto

eToro lists Uniswap and Chainlink

In light of the dizzying rise of decentralized finance (DeFi), eToro is now listing .

  • is the token of the decentralized exchange protocol that is based on liquidity pools rather than an order book. Uniswap defied this week’s downturn with over 10% gains, and recently broke its crossing $10 billion for the first time.
  • is the token powering the decentralized oracle network that bridges smart contracts with real-world data. The token has dropped 5% over the last week, but has made a meteoric rise over the past twelve months, and hit headlines last week for the release of its new whitepaper on .
Delta has partnered with eToro to allow users to invest via an accredited and bespoke platform.

Venmo embraces crypto

Amidst the wild market volatility, crypto adoption is steadily increasing. This week, payment app announced the arrival of Bitcoin, Ethereum, , and .

As one of the most popular digital payment services with 70 million users, Venmo’s adoption represents another big step for crypto towards the mainstream. This follows similar moves by rival payment apps and Cash App, and the launch of multiple crypto services by parent company .

Coming soon: Bitcoin bull and MicroStrategy CEO suggests big tech firms like , and could integrate Bitcoin into their mobile apps.

The week ahead

With an almost 30% drop from the all-time high, Bitcoin’s retracement is similar to the pullbacks seen in the last bull market of 2017.

If analyst Is correct, this downswing sets the stage for further gains in coming months. He tweeted early on Monday that “these are the pauses that refresh a bull market.”

As Ethereum showed resilience during the market downturn, all eyes are now likely to be on this cryptoasset in expectation of a strong recovery back towards all-time highs.

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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