Bitcoin Trades Boring And Cardano’s Hoskinson Rails Over COVID Plans

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Last Updated on 7 May 2021 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / jeroen@cryptotips.eu
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Bitcoin has been trading like a tech stock in the past week it seems. At the time of writing the most important cryptocurrency is down almost 3 percent and up the same level over the past week.

Dutch bank ING, a major European financial player, released a report acknowledging the importance of DeFi (Decentralized Finance) and how this technology could indeed upset the classic financial sector.

Over in the altcoins we have to mention a video by Cardano founder Charles Hoskinson who gets upset at the rollout of the COVID vaccines in the US. As he does so, his crypto coin is showing a nice rise in markets (up 10% this week) and is up already some 260% over the year.

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Boring Bitcoin

Trading at $55k, the invention of Satoshi Nakamoto looks back to its boring self which we’ve come to recognize in many months of 2021 already. Although Bitcoin is still showing a healthy gain for the year, the biggest crypto is not falling and growing at double percentage points per day anymore. Analysts agree that this is the result of institutional investors who are amassing upon crypto coins.

Another sight we see emerge at Ethereum which has shown a healthy 24% growth in the past week. It comes as Wall Street accepts the Vitalik Buterin coin as an alternative to Bitcoin which can be used for financial transactions. The acceptance of the European Investment Bank recently to use Ethereum’s blockchain is a case in point.

ING Fears DeFi

Dutch bank ING released a study entitled Lessons Learned from Decentralised Finance in which it discussed the new technology in the crypto market.

In all, ING admits that DeFi could be a force for good, but also that:

DeFi could be more disruptive than Bitcoin to the financial sector.

As per Herve Francois, the bank’s blockchain lead.

Hoskinson rails over COVID

Lastly we have to mention an interesting video by Cardano founder Charles Hoskinson. The man is known to be interested in US politics, but when it comes to achieving herd immunity, he has some words of advice for the Biden administration.

Hoskinson explained how the game theory and several tactics used by the cryptosphere could be used to get people hesitant against vaccinations to finally take the shot.

Given that European nations, who are slowly catching up to the US when it comes to the roll out, will soon face a similar problem (you have to reach 70% of your population to reach herd immunity), this one is worth a watch.

Elena Schweitzer / Depositphotos.com