The Week in Crypto: Volatility Continues, Ethereum Upgrade Postponed For the bulk of the week,

The Week in Crypto: Volatility Continues, Ethereum Upgrade Postponed For the bulk of the week,

Bitcoin remained below $40,000, losing 2% in the past seven days. Several causes contributed to the price drop, including growing inflation, geopolitical events, and monetary policy changes.

The crypto and stock markets continue to see increased short-term volatility as a result of this. In recent months, the crypto market has followed the stock market. It becomes more linked with global economic dynamics as a result.

Bitcoin's all-time high was reached in the first days of January, when it hit over $48,000 on January 2. Bitcoin has remained above its late-January low mark of $34,000 so far.

It was at its lowest point in the prior six months. Bitcoin has dropped more than 40% of its value since November 10, when it hit an all-time high of $68,000. Even though the price of Bitcoin has been extremely volatile since November 2021, its new highs in 2021 and current price are remarkable given that it was below $10,000 in July 2020.

• The NFT marketplace has been launched by Coinbase.

NFT collectors all across the world now have a location to trade their digital collectibles. Coinbase, the newest crypto exchange in the United States, recently unveiled a beta version of its personal NFT marketplace.

During this period, a select group of beta testers would be permitted to register a Coinbase profile and use a wallet to buy and sell NFTs. No transaction fees will be charged. The platform, on the other hand, would eventually charge fees. This would be consistent with Web3 industry guidelines.

• Upgrade to Ethereum has been postponed.

According to Ethereum developer Tim Beiko, the huge software upgrade known as "the Merge" will not take place until June 2022. Beiko said on April 11 that "the Merge" will not take place in June. On April 12, he followed up with another tweet, stating that it will take a few more months.

The switch from proof-of-work to proof-of-stake will cause a rapid change in the sequence of transactions on Ethereum. It will be significantly more sustainable and efficient for mass usage as a result of this.

Blockchain.com may go public.

Blockchain.com, a cryptocurrency exchange, is reportedly interviewing banks for an initial public offering (IPO). According to a Bloomberg article, it might potentially go public this year.

The company Blockchain.com was recently valued at $14 billion. The NFL's first crypto sponsorship was awarded to Blockchain.com by the Dallas Cowboys. According to the article, the IPO will not take place until 2023, and the company's intentions may alter in the future.

• Illegal digital money transactions will be prosecuted.

Illegal digital currency transactions are being targeted by the US secret agency. Since 2015, the agency has seized more than $102 million in unlawful crypto assets, according to a CNBC article.

The agency tracks bitcoin transactions on the blockchain, similar to traditional surveillance, according to David Smith, associate director of investigations, in an interview with CNBC.

• This week's top crypto gainers and losers as of 12 p.m. on April 24, 2022

1. Gainers for this week

1. ApeCoin (APE): 41% up

2. Stepn (GMT): 32% up

3. Kava (KAVA): 22% up

4. Curve DAO Token (CRV): 18% up

5. Ox (ZRX): 16% up

• Losers for this week

1. Waves (WAVES): 13% down

2. Helium (HNT): 13% down

3. Moonbeam (GLMR): 13% down

4. Filecoin (FIL): 9% down

5. Compound (COMP): 9% down