“Sometimes we find $50 million of assets lying around that we lost track of; such is life.”. Ethereum price is on the rise

April 14, 2023

Crypto Market Update 14-04-23

Welcome to our recap, let’s check the most relevant crypto events of the week!   📰😎

Last 7 Days Market Performance:

Bitcoin is up 10,3%, now at € 27 857,89 🚀

Ethereum is up 13,8%, now at € 1 910,99 🚀

Total crypto market cap: € 1.16 Trillion

And an interesting money fact first:

With mobile banking and electronic payments becoming the standard, people are handling money without even touching it. Economists estimate only 8% of the world’s currency is literal cash with the rest existing on computer hard drives in electronic bank accounts. Since those computers are controlled by central entities, you will understand why having a decentralized currency like Bitcoin could be proof of freedom in the future. 🤔

Ok, now onto this week’s updates:

🔴 Quote: “Sometimes we find $50 million of assets lying around that we lost track of; such is life.

For everyone's surprise (or not...) messages from the former CEO of FTX exchange came to light saying that sometimes they found 50 million lost dollars… it seems that we have something in common, I too sometimes find 5 euro bills in my pocket 😄

🟡 Spanish Tax Authority to send over 328K notices to crypto holders.

As the saying goes “there are only two things certain in life: death and taxes”, and the Spanish crypto lovers seem to want to put that to the test. 😄 According to El Mundo, the number of notices increased by 40% in a year, with previously 230,000 warnings in 2022, all this in a country that from the latest reports 6.8% of the entire population holds crypto assets, being the majority of them aged 35 to 44, with higher education and earning over 3,000 euros monthly. Are you one of them..? 🧐  

🟢 Ethereum price is on the rise as uncertainty of Shanghai upgrade settles.

First, for those most unaware, yesterday was a historic day for the Ethereum protocol. Perhaps one of the most important developments to date has enabled the last and final step to the Proof of Stake mechanism. 🎉 (Note: if you don't know what PoS is, we have a post from the 22nd of March on our social media accounts explaining everything in detail). So yesterday, the equivalent of more than 35 billion dollars in ETH was released, however, against all expectations, almost no one sold and the price is even rising. Is the bull market getting started..? 🧐

Well, mainly because of the Ethereum event, you are starting to feel the enthusiasm back in the crypto space, famous people like Arthur Hayes are already talking of the beginning of the bull market and alt season, but be careful, with crypto you never know. 😁

Take care y’all, talk next week 👋


Great job on learning something new today 🎉