Month in Review — April 2021
Check the summary of what was going on during the last month in crypto
Welcome to Month in Review, where the team behind STASIS and EURS shares our updates from the past month as well as some thoughts on key events and issues in the cryptocurrency and stablecoin space.
The Month in Review is distributed each month initially as a newsletter. You can sign up to receive it here.
Spring turns out into the altcoin season
One of the most exciting things about the digital asset field is the halo of uncertainty surrounding it. One can read the news, evaluate every opportunity, create a robust investment strategy, weigh the risks carefully…and still lose. The truth about the cryptocurrency market is that this ground is always filled with emerging new opportunities and even greater amounts of traps.
Bitcoin managed to continue its upward trend earlier in April, reaching a new all-time high above $63K. However, the first cryptocurrency didn’t hold the ground and substantial correction followed. Bulls were trying hard to save the trend, but it seems that the king chip has been losing steam till the end of the month.
Meanwhile, Ethereum climbed over $ 2,700 and the asset’s capitalization exceeded $ 300 billion. Corporations and important industry players start to change their views on the second-largest cryptocurrency.
The flagship asset pulled the entire market with it for a while. As a result, only Ethereum conditionally remained in the green zone, actually retaining its positions. The Bitcoin dominance index fell below 50%, the capitalization of the first cryptocurrency fell to just over $ 940 billion, and the entire market — to $ 1.95 trillion.
The backdrop was mainly caused by power outages in China, the new proposed taxation plan in the U.S., and the simple fact that corporates and large investors wanted to fix their profits.
Taking such news into account, one can’t help but wonder: what’s next? While the narrative for BTC to remain the locomotive of the industry was strong throughout the last 6 months, many investors are trying alternative grounds being unsure about BTC’s future.
We at STASIS see any crisis juncture as the point for further growth. In times of increasing market volatility, the demand for transparent and reliable market solutions naturally grows. EURS emission has increased by more than 20% in April, which definitely shows the high demand for our asset in cryptocurrency markets and Decentralised Finance.
Project News
- The new EURS website is now Live!
STASIS team is proud to present you the new EURS Website! We aim to provide a better experience and the most up-to-date info on the largest euro-backed stablecoin.
Head to https://eurs.stasis.net/ and check the new design right now. We are waiting for your feedback!
- EURS emission grows
EURS total supply has grown by more than 20% in April, which definitely shows the demand for our asset. With further growth of the DeFi area, we expect more popularity for our euro-backed stablecoin.
- BDO on-chain cash balance check
The largest euro-backed stablecoin issuer STASIS continues to remain a beacon of transparency in the stablecoin field as the cash balances have been checked by the BDO Malta that provides quarterly and annual statutory audits for STSS Malta Limited.
Worth Reading
In April 2021, STASIS CEO Gregory Klumov shared his views on volatile crypto markets:
People have always highly dreamed about the possibility of time travel. Even though the technology to set a leash upon Chrono particles has been often described in tales, movies, and explored in video games, there is a huge gap between thrilling theory and cold reality. The emergence of the blockchain has created a possibility that seemingly reflects one’s desire for time travel. The chance of transferring value onwards is now real.
The digital asset realm is all about surprises. What would be your next bet? Learn why Bitcoin may face unexpected problems in its ongoing rally.
Worth Watching
- EURS project has been reviewed by the popular crypto influencer and the video managed to get high exposure to the new global audience. Check it out!
- You leave your money in the bank, but do you actually know what they do with it? Gregory Klumov explains how the blockchain can be used to quantify our trust in financial institutions, so we only give our money to institutions who deserve it.
What’s Coming Next?
Thanks for reading this and staying with us!
As always, more developments and news are coming next month. Some of them will be truly great.
Subscribe to Weekly Stablecoin Digest to stay updated on what’s coming in the crypto world, and read our “Month in Review” to read the 4-week summary of our achievements!
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