Tokenized Gold Reaches $1B Market Cap – April 5

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$28,084

Bitcoin price is hovering just below $28,000 today, following a failed run at the $29,000 level.

Top-20 altcoins are a mixed bag over the last 24 hours, as Ether gains 2%, BNB remains unchanged and Dogecoin corrects 3%.

Top Stories for April 5, 2022 🔥

👉 Tokenized Gold Reaches $1B Market Cap

The market capitalization of tokenized gold has surpassed $1 billion once again, with PAX Gold and Tether Gold in a close race for the top spot. The price of gold has reached a 13-month high, driven by concerns over the western banking crisis.

PAX Gold and Tether Gold are tokens pegged to the price of gold, providing investors and traders with the ability to self-custody and trade on centralized exchanges. The tokens are issued by Paxos Trust Company and Tether, respectively, and are traded on major exchanges such as Kraken, Binance, and Bitfinex.

👉 $2.4B Worth Of ETH To Be Unlocked In Shapella Upgrade

1.3 million Ether (ETH) worth $2.4 billion will be unlocked in eight days, as Ethereum’s “Shapella” hard-fork (previously known as the “Shanghai” upgrade) is activated.

Although some are worried about potential selling pressure, the expected supply boost amounts to just 20% of ether’s average daily trading volume. Additionally, a large share of Ether stakers are long-term investors and may be unlikely to liquidate their holdings.

👉 Microstrategy Continues To Buy Bitcoin, Adds 1,045 BTC

MicroStrategy has announced its acquisition of an additional 1,045 Bitcoin for $29.3 million, at an average price of $28,016 per BTC.

The purchase brings the company’s total Bitcoin holdings to 140,000 BTC, which were acquired for around $4.17bn at an average price of $29,803 per BTC. MicroStrategy’s CEO, Michael Saylor, has been a vocal supporter of Bitcoin and has encouraged businesses to adopt it as a strategic asset to protect against inflation.