Good morning. Welcome to Wednesday Watch, part of our new series: BitPinas Daily. We will look at the price of Bitcoin, Ethereum and the major cryptocurrencies. Crypto is global, but sometimes news that matters happens while we sleep. So we bring to you what’s happening in our space here and abroad.
Market Price as of April 21, 2021:
Bitcoin closed April 20, 2021, at $56,499 per BTC. We’re down 8.95% in the last 7 days and up 93% since the year began. This is also 12.82% below the all-time high of $64,804, which was hit on April 14, 2021.
Bitcoin’s market capitalization stands today at $1,046,592,924,226 which is 49% of the entire cryptocurrency market. The entire crypto market, by the way, now has a market cap of $2,136,215,403,777 (+5.2%).
On the table above, there’s the cryptocurrency SLP. If you wonder what that is, check out this article: Playing Axie Infinity vs Minimum Basic Salary in the Philippines.
German Telco Deutsche Telekom is Now Partnered with Celo
The largest European telco by revenue, Deutsche Telecom announced its investment in Celo via a significant purchase of its native asset $CELO.
While the size of the investment was not disclosed, the teco said it will operate infrastructure across the Celo ecosystem with its subsidiary T-Systems MMS operating as a validator.
Deutsche Telecom will also open its SMS API to allow validators to send verification text messages using their service. Why SMS? We should take note that Celo uses phone numbers to act like the public keys so that users can send money across. This is evident in Celo’s Valora App, which is tied to a mobile number. This allowed the app to remove a key pain point — having users remember or copy paste very long public addresses.
Deutsche Telecom will be the first telco to join the Celo Alliance for Prosperity, which is a 130+ member organization with a mission to employ blockchain to create the conditions of financial prosperity for everyone.
Rene Reisenberg, co-founder of Celo said in a statement:
“We’re excited to have Deutsche Telekom help secure the Celo network, develop the Celo infrastructure, and make meaningful contributions as a validator,” said Rene Reinsberg, co-founder of Celo. The powerful combination of owning CELO and building on its mobile-first platform will help accelerate mass market adoption of digital assets and enable safe, secure and cost-effective payments for smartphone users everywhere.”
Check our previous Celo articles:
- How Grameen Foundation and Celo Provided COVID-19 Relief in the Philippines
- Send Money and Other Things You Can Do With Valora App in the Philippines
- How to Buy and Sell Celo and cUSD on Local Exchanges in the Philippines
- Startup cLabs Receives Fresh $20 Million Funding Following App’s Successful Philippine Trial
Celo to Launch cEUR
A Euro-dominated stablecoin called Celo Euro or cEUR is set to launch on Celo this quarter. A stablecoin that tracks the value of the Euro, cEUR is set to provide people with a stable, secure, and inexpensive way to transfer value and engage in financial transactions in a currency that is familiar to them. The Euro is a major currency transacted primarily in Europe.
“The launch of Celo Euro (cEUR) will enable the 6 billion smartphone users around the world to reliably send, receive, and trade cEUR stablecoins using the Celo blockchain within seconds. This includes low cost peer-to-peer remittances between smartphone numbers, exchanges, and cash in cash out providers,” Celo said in a statement.
Former Regulator Now CEO of Binance.US
Brian Brooks, the former acting head of the U.S. Office of the Comptroller of the Currency (OCC) is set to join the industry by becoming the head of Binance.US. First reported by WSJ, Brooks was also previously an executive in Coinbase.
Brooks said he aims to make Binance.US a “robust” competitor to Coinbase and “reinforce its commitment to compliance.”
“I wouldn’t have taken this job if I didn’t have a strong commitment from the board to lead a strong compliance program,” he added,
A number of former high ranking government officials have joined Binance as of date. Recently it hired Max Baucus, a former top diplomat to China to guide the exchange in navigating the regulatory landscape in the U.S.
Dogecoin Day was a Dud
Talks of a DogeDay were all around the internet in the past few weeks in support of pumping the price of the coin on April 20 (4.20). The eventual “hope” is that it gets to $1 dollar.
Except that it didn’t. Dogecoin retreated and now back at $0.31, while most of the top coins are back in green.
Of course, we’re not going to discount the fact that Dogecoin still had a tremendous year this 2021. It was worth $0.009 early this year. At the current price, early holders had a 97% increase in their holdings worth.
What else is happening
- Uniswap Hits Record $10 Billion in Weekly Trading Volume
- PayPal-owned Venmo Launches Cryptocurrency Trading
- Snoop Dogg Twist on Nyan Cat NFT Sells for $33K
This article is published on BitPinas: Celo Launches cEUR, Partners with Major EU Telco (April 21, 2021)