Illustration by Mitchell Preffer for decoding
Despite many beginnings and endings, the cryptocurrency market continued its incredible upward trajectory this week, with some hiccups along the way.
On Monday, CryptoPunk was sold for a ridiculous price. $16.03 million At the time of sale, the ETH equivalent was the second-highest price ever for a piece of blue-chip Ethereum NFT collection. Cryptocurrency users saw this event as have been struggling for a long time The NFT market may be riding a bull market that is currently sending many cryptocurrencies soaring.
Things got even crazier on Tuesday, when Bitcoin briefly topped an all-time high. Over $69,000.that It was a cathartic moment on Twitter and a testament to the faith of Bitcoin supporters who have stuck to their guns through several harsh crypto winters.
Some Bitcoin maximalists seized the opportunity to stick with Bitcoin haters with little regard for humility or civility.
By the end of the week, Bitcoin had not only hit another all-time high; $70,000—But also ETH Over $4,000Solana punched him lightly. over $150sparking a flurry of excitement and buzz across the cryptosphere.
Everyone seemed to enjoy the heat except Coinbase, which experienced it multiple times in a row. crash and failure A record-breaking week.
Some welcomed the series of outages in a positive manner, joking that this is not a major milestone for crypto prices unless Coinbase goes down.
However, other companies were less enthusiastic about financial services providers repeatedly glitching important trading events.
Jokes, or some say conspiracy theories, quickly spread that Coinbase, like Robinhood, intentionally throttles its platform to prevent trading during certain moments of market volatility. stop trading At a time when interest in GameStop stock exploded in 2021.
No evidence has yet emerged to support claims that Coinbase intentionally crashed its platform. Brian Armstrong, CEO of the exchange, said: said last week It claimed that the outage was due to an unprecedented spike in user traffic.
Edited by Ryan Ozawa.
