Ethereum saw its price breakout to a new all-time high at $1,555. Increased activity in the derivatives market provided clear signals that traders were bullish on the largest altcoin’s long-term prospects by market capitalization. Bitcoin’s price also saw a bullish breakout as it finally crossed above the $35,000 resistance and currently trades for $36,700. Prominent business personalities like Elon Musk, Michael Saylor, and Mark Cuban continued to engage the public with discussions revolving around the benefits of blockchain technology and decentralized finance during the last week.
Mark Cuban: stocks will be on the blockchain in the future.
In remarks to the Reddit group r/Wallstreetbets and the GameStop saga, billionaire Mark Cuban said that “stocks will be on the blockchain in the future.” Circle’s USD Coin (USDC) has now been integrated with the Stellar blockchain, enabling the stablecoin to be transacted on the Stellar network and possibly take some of the strain of the clogged Ethereum network. Data from Glassnode shows USDC transaction volume on Ethereum has steadily been increasing over the past year as the crypto exchange Coinbase backed coin steadily gains ground on Tether (USDT).
Elon Musk thinks bitcoin is nearing a wider adoption from financial people.
As reported earlier, Tesla CEO Elon Musk has said that the leading cryptocurrency bitcoin is a “good thing” and that it is set to get mainstream attention. “I think bitcoin is really on the verge of getting broad acceptance by sort of the conventional finance people,” said Musk on Sunday night during a Clubhouse chat session. “I don’t have a strong opinion on other cryptocurrencies,” he added. Musk went on to say that many of his friends have convinced him to buy bitcoin in the past, but he is “late to the party.”