News Roundup: Another Week, Another Peak

Last week was a proper rollercoaster for the main cryptocurrencies like Ethereum, Bitcoin, and even XRP. At the beginning, their prices were flying high but towards the end, things started looking a little bit funny. 

At the moment, things already look calmer. But in the middle of the chaos, we saw predictions, headlines, and updates that we can’t wait for you to see. Enjoy!

A SECond Look at Regulation

In an interesting turn of events, Nigeria’s Securities and Exchange Commission (SEC) announced that they are working with CBN to find a way to regulate crypto. The Guardian reported that Lamido Yuguda, the director-general of the commission spoke at a press conference after the Capital Market Committee met on Thursday. There’s no telling what this could lead to but as long as the positive conversations about crypto are had, we’re not complaining 👀.

XRP: Good Buy or Goodbye?

If you’ve been following XRP, then you know it has grown like mad since January (more than 500%) even with all the U.S SEC ‘wahala’. But these past 3 days? Hmm.. no comment 😂. Anyway, we’ve noticed something interesting. XRP supporters are in two groups: those who think it’s a good time to buy more now that the price is low, and those who think this is the end of the road. This legal battle with the SEC is about to shake things up so hold on to your seats.

What on ETH is Going On?

ETH has mostly given mixed signals all month. But on the lowest of keys, there has been a lot of growth so far. According to a recent report its price could reach $5000 (about 2.5 million) by the end of May. The reality is that Ethereum has already tripled in price this year. So another doubling is possible especially when you look at the amount of activity and new projects on the Ethereum network.  

Go China!

In another surprising turn of events, China, which has a reputation for being non-crypto friendly, may be showing support for crypto.  At a recent CNBC conference, Li Bo, the deputy governor of the People’s Bank of China (PBoC) which serves as China’s central bank, said they see Bitcoin and stablecoins as alternative assets. China has had a crypto ban in place since 2017 so this is huge! As a world power, if China can see the good in Bitcoin, maybe other countries will be inspired to look closer. Fingers crossed 🤞🏾. 

NFTs: Where is the Line?

We’ve seen NFTs for almost everything, from art to TV shows, memes, voice recordings, and even books. But that’s not all! Apparently, people are finding even more creative ways to use NFTs. One example is this person who uploaded their entire DNA structure as an NFT. The question is where do we draw the line when it comes to what should be possible with tokens like this?

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Quidax is an African founded cryptocurrency exchange that makes it easy for anyone to access DeFi and CeFi Our aim is to educate you about cryptocurrency. It should not be considered as financial advice. We recommend conducting your own research before deciding to buy, sell or hold any cryptocurrency.