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🗞 Daily Crypto News, April, 15th💰

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Welcome to the Daily Crypto News: A complete News Review, Coin Calendar and Analysis. Enjoy!

🗞 Market Wrap: Bitcoin, Ether Near Record Prices as Crypto Market Celebrates Coinbase’s First Trading Day

  • Bitcoin’s 24-hour range: $61,400.28-$64,829.14 (CoinDesk 20)
  • BTC trades between its 10-hour and 50-hour averages on the hourly chart, a sideways signal for market technicians.

https://static.coindesk.com/wp-content/uploads/2021/04/Screen-Shot-2021-04-14-at-16.01.03-775x425.png?format=webp

Fundamentals seem to be taking the back seat to the hype of the moment; Coinbase’s direct listing today on Nasdaq looks like the one thing that is driving up the whole crypto market. Nonetheless, there are indeed fundamental factors at play as bitcoin and other cryptocurrencies trade near all-time highs.

Spot trading volume on eight crypto exchanges tracked by CoinDesk, although slightly lower than a day ago, continued to show increased activity and was near $4 billion at press time.

https://static.coindesk.com/wp-content/uploads/2021/04/Screen-Shot-2021-04-14-at-13.54.53-775x511.png?format=webp

“It demonstrates the level of investment in cryptocurrency: those 2.3 million at or above $50,000 for bitcoin cost $125 billion,” Gradwell wrote. “Such levels of investment require large companies that can face the scrutiny of the public market.”

Ether and altcoins

https://static.coindesk.com/wp-content/uploads/2021/04/Screen-Shot-2021-04-14-at-16.00.52-775x424.png?format=webp

  • Ether’s 24-hour range: $2,268.57-$2,399.61 (CoinDesk 20)
  • Ether trades between its 10-hour and 50-hour averages on the hourly chart, a sideways signal for market technicians.

As a result, dogecoin now has a market capitalization of more than $16 billion, surpassing that of bitcoin cash (BCH) and chainlink (LINK), per Messari data.

Dogecoin’s sudden price surge also came with escalating trading activity: data from Coingecko also shows that dogecoin is the No. 5 most traded token of the day, only behind tether (USDT), bitcoin (BTC), ether (ETH), and xrp (XRP).

🗞 Coinbase Direct Listing Gets $100B+ Valuation as Share Price Jumps in Nasdaq Debut

Coinbase, the biggest U.S. cryptocurrency exchange, went live with its direct listing on Nasdaq, on a day when bitcoin rallied to a fresh all-time high.

The shares fluctuated in the first hours of trading, starting at $381 and initially jumping above $400 but dropping as of press time to about $378.

“The price of COIN will be very volatile,” said James Angel, a finance professor at Georgetown University who specializes in financial-market structure. “We can expect it to fluctuate along with the prices of cryptocurrencies. Investors should buckle up their seatbelts and expect a wild ride.”

A home on the Nasdaq

Coinbase, which has no official headquarters, opted to avoid an initial public offering (IPO) and instead directly list its shares on the Nasdaq stock exchange, without relying on Wall Street investment banks serving as underwriters to set the pricing.

“The reason we’re doing a direct listing is that it’s going to get all market participants,” Coinbase CFO Alesia Haas told CoinDesk in an interview. “We’re not allocating shares to just 10 institutions. This is going to be a robust, deep price discovery. And we’re excited to see where that market ends up.”

🗞 Mark Cuban One-Ups Elon Musk: Mavs to Hold Dogecoin on Balance Sheet

The NBA’s Dallas Mavericks have seen a rise in customers using Dogecoin to purchase team merchandise. Owner Mark Cuban tweeted that the team will “never sell” the DOGE it receives.

Dogecoin (DOGE) is surging right now, setting an all-time high price just above $0.11 within the last 24 hours—a more than 100% leap over the last week. Now, one of Dogecoin’s highest-profile proponents says that one of his companies is holding the meme-based cryptocurrency on its balance sheet for good. And no, it’s not Elon Musk.

Instead, it’s billionaire investor Mark Cuban—his NBA team the Dallas Mavericks is holding onto any Dogecoin that the team's fans spend on tickets and merch. Recently, Cuban revealed that the Mavs had partnered with BitPay to accept Dogecoin for purchases. Last night, Cuban tweeted that the team has seen a spike in DOGE spending, and that it won’t part with the coin at all.

At the very least, it’s another sign that Cuban is having some fun with crypto. And getting a lot of attention in the process. Cuban’s tweet has more than 14,000 interactions as of this writing, and in a March press release marking the acceptance of Dogecoin for Mavericks gear, Cuban acknowledged the marketing element of taking in the meme coin.

🗞 Grayscale tops $50 billion: ‘Will soon pass world’s largest commodity ETF’

Major U.S. asset manager Grayscale has just surpassed $50 billion in cryptocurrency assets under management for the first time. Grayscale's AUM is creeping ever closer to the $57 billion holdings of the largest commodity ETF.

If the ETF had been approved already, Grayscale would be the second-largest commodity ETF behind SPDR Gold Shares. GLD is a physically-backed gold exchange-traded fund (ETF) with listings on stock exchanges in the U.S., Mexico, Singapore, Japan, and Hong Kong.

Grayscale CEO Michael Sonnenshein tweeted that he believes the Grayscale Bitcoin Fund, or GBTC, is likely to surpass the GLD fund by market cap in a few months.

🗞 Daily Crypto Calendar, April, 15th💰

  • Measurable Data Token (MDT)

"Exclusive #airdrop coming to $MDT holders: Every 10 MDT deposited into @TheRewardMe app (snapshot by mid April), you will get 1 ME token."

  • Pundi X [OLD] (NPXS)

Pundi X is going to announce the token removal amount in the 1st week of April, and execute it in the 2nd one.

  • Lisk (LSK)

"WeAreDevelopers World Congress 2020" in Berlin from April 15 - 16 2021.

  • Stellar (XLM)

"SDF CEO, Denelle Dixon, will join a panel during Paris FinTech Forum's April events."

  • AntiMatter (MATTER)

"AntiMatter Product Launch - Full v1 product launch on ETH mainnet with liquidity option mining."

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