News of the week: Coinbase enters WallStreet and Berlin arrives on Ethereum

Sandra Loyd

Among the highlights of this week is the Coinbase entry on WallStreet. The company’s shares were sold under the ticker «COIN. In its first day on Nasdaq, the value of the shares ranged between USD 300 and USD 400 and the volume exceeded 23.8 million shares.

Meanwhile, after receiving a push to At the beginning of the week that took the price to more than USD 64,000, to break another all-time high, bitcoin lost 14% of its value on April 17 . On average, the pioneer cryptocurrency depreciated by 6.5% in seven days. At the time of writing this article, BTC is trading at USD 57,280, as reflected in the market price of Latin America and Spain, according to the CriptoNoticias price calculator.

With CriptoNoticias, Those interested can keep up to date on the changes in the market prices of bitcoin and ether in relation to their local currency. To do this, they can visit the BTC and ETH Prices section, which has a calculator to make conversions quickly and easily to your national currency.

These are the most outstanding news:

  • As planned, the Coinbase exchange made its Wall Street debut through direct bidding which began on Wednesday, April 14, 2021. Although the value of the exchange’s shares were set at a base price of USD 250, the price was 50% above this cap. After opening at more than $ 400, the stock fell to $ 310. In a YouTube live broadcast, managers said the event was just the beginning of a new phase. Brian Armstrong, Coinbase co-founder, said in an interview with CNBC that he expects that in the future more than half of the company’s revenue will come from alternative sources to transactions of cryptocurrencies on its platform, which currently constitute 86% of its profits. At the time of writing, COIN is trading at USD 344.
  • The Berlin update was activated on the Ethereum mainnet on April 15, at the height of block 12,244,000. The process saw synchronization delays in one of its clients, Open Ethereum. The problem was solved with a new version of the client (3.2.3) , which included a fix for the consensus error. With this hard fork four improvements were implemented that, together, will integrate new functionalities in search of a faster, more secure blockchain with cheaper transactions, in the transition to Ethereum 2.0. However, the day after the fork, the gas consumption of the transactions had a strong increase, generating complaints among users.
  • As a measure to counteract the high commissions on the Ethereum network, move forward a movement called flashbots, which seeks to mitigate the bidding war of the arbitrage bots that congest the platform. The movement warned about the detrimental effects arising from the capture of the maximum extractable value (MEV) of the transactions included in the blocks. Meanwhile, Justin Drake, Ethereum programmer and researcher, launched a survey among developers, asking about the possibility of achieving a minimum viable fusion of Ethereum 1.0 and 2.0, by 2021. 86% of those surveyed agreed. Although a group of developers commented that, technically, the process will be more viable by 2022.
  • As part of Coinbase’s entry to the exchange, Binance announced the launch of a tradable share token based in COIN, which will maintain price parity with the Coinbase share. Although the inclusion of the new token was scheduled for April 14 (coinciding with the entry of Coinbase in Nasdaq), that same day the plan was suspended due to the volatility of the share . Once the new token is launched, it will be the second asset of this type to be listed on Binance. The exchange’s first tradable stock token, which allows users to trade Tesla Fractional Stock Shares (TSLA), entered the market on April 12.
  • This week, economist Gary Gensler was ratified by the United States Senate as the new chairman of the Securities and Exchange Commission (SEC) . The bitcoin professor’s appointment at MIT has been viewed as positive for the ecosystem and there are favorable expectations surrounding the lawsuit against Ripple. As part of the appointment, XRP users took the opportunity to ask Gensler to withdraw the lawsuit. Simultaneously, it emerged that a judge rejected the request filed by the SEC to force the founders of Ripple Labs Inc., Brad Garlinghouse and Chris Larsen, to disclose their financial data for the last 8 years.

If you want to know the meaning of several words in the crypto world terminology, you can consult them in the extensive CryptoNews Glossary.

DEX (Decentralized Exchange): are houses of decentralized exchange of cryptocurrencies, that is, those in which users have contact with each other and they are the ones who carry out the operation, without resorting to the funds of a company.

Cryptotutorial of the week:

Founded in 2014, MinerGate is a pool mining that offers the possibility of mining from your personal computer in very few steps, offering you a good profitability and payments directly in the cryptocurrency you mine. In this tutorial we explain how to carry out this process.

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