BeInCrypto Weekly News Round-Up: February 19, 2021

Another week is complete, and there is never a shortage of craziness in the cryptocurrency industry. This week did not disappoint.

The most noteworthy crypto news is perhaps the most obvious. Bitcoin (BTC) broke the massive psychological price barrier of $50,000. 

BNB, the native cryptocurrency of the Binance ecosystem, also exploded, gaining massively since its March lows. This follows the explosion of its Binance Smart Chain (BSC), a Centralized/Decentralized (CeDeFi) ecosystem that makes Decentralized Finance (DeFi) smart contract interactions cheaper and faster.

With so much going on in the space, ethereum (ETH) breaking all-time highs and closing in on $2,000 was almost overshadowed. But that should definitely not be overlooked.

Welcome to BeInCrypto’s Weekly News Round-Up, let’s get into it.

Bitcoin Breaks $50,000 For First Time in History 

For those who’ve been in the space since the 2017 bull run, bitcoin breaking $50,000 is absolutely groundbreaking. The fundamentals behind the cryptocurrency remain the same, but the adoption rate has skyrocketed.

One of the main catalysts for this price increase was the purchase of $1.5 billion in BTC by Telsa. However, it’s not just the wealthiest getting involved, as we now see almost 100,000 unique addresses holding at least $1 million in BTC.

Binance Coin (BNB) Gains Massively Since March Lows

DeFi has been all the rage in cryptocurrency, surpassing $40 billion for the first time recently. With a low of less than $1 billion at the beginning of 2020, the growth in DeFi is nothing but astronomical.

The increase in usage has bogged down the Ethereum network considerably, where the majority of DeFi apps are hosted, creating an opportunity for competitors.

Binance stepped up to the plate, releasing its Binance Smart Chain, a CeDeFi platform that allows users to capitalize on gains without having to pay obscene transaction fees.

This has led to an explosion in the BNB price. BNB is up over 5,000% since its March lows, an astronomical figure. Binance is an innovative player in the blockchain space. It will likely continue to produce applications on the cutting edge of its ecosystem, adding further stimulus to BNB.

Ethereum (ETH) Targets $2,000 after Trading Sideways

Slow and steady wins the race. ETH is climbing towards $2,000, a significant psychological barrier for ETH holders. Analysts credit a lot of this growth to DeFi applications like Uniswap that run on the network.

Uniswap recently crossed the $100 billion mark for cumulative trading volume, and that is just one of the many applications generating billions in volume on Ethereum.

With all of the projects using Ethereum’s infrastructure, it will continue to benefit from adoption. Still, Ethereum is experiencing some problems, as heavy platform use causes congestion on the network.

Transaction speeds have become much slower, and fees are now extremely costly, sending users to look for alternatives until the launch of ETH 2.0, when the network aims to be more efficient.

There’s a lot more to look forward to in the cryptocurrency space in the coming weeks. Thanks again for checking out the BeInCrypto Weekly News Round-Up. See you next week.

Disclaimer


All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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iota
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tezos
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theta-token
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havven
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avalanche-2
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neo
NEO (NEO) $ 30.12 21.73%
terra-luna
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dash
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huobi-token
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okb
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elrond-erd-2
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crypto-com-chain
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the-graph
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maker
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filecoin
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dai
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ftx-token
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celsius-degree-token
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sushi
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kusama
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compound-governance-token
Compound (COMP) $ 219.31 12.65%
zcash
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ethereum-classic
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decred
Decred (DCR) $ 105.74 3.80%
binance-usd
Binance USD (BUSD) $ 1.01 1.63%
compound-usd-coin
cUSDC (CUSDC) $ 0.022215 0.51%
zilliqa
Zilliqa (ZIL) $ 0.071119 14.47%
uma
UMA (UMA) $ 8.11 10.40%
yearn-finance
yearn.finance (YFI) $ 28,674.00 8.26%
leo-token
LEO Token (LEO) $ 2.39 5.52%
pancakeswap-token
PancakeSwap (CAKE) $ 11.66 17.32%
waves
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near
Near (NEAR) $ 2.19 11.52%
amp-token
Amp (AMP) $ 0.064535 19.14%
0x
0x (ZRX) $ 0.580657 14.37%
huobi-btc
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digibyte
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icon
ICON (ICX) $ 0.750662 9.97%
hedera-hashgraph
Hedera Hashgraph (HBAR) $ 0.158589 5.33%
nexo
NEXO (NEXO) $ 1.39 0.19%
xsushi
xSUSHI (XSUSHI) $ 7.78 3.44%
ethos
Voyager Token (VGX) $ 1.88 6.26%
loopring
Loopring (LRC) $ 0.201285 14.40%
thorchain
THORChain (RUNE) $ 5.37 19.49%
ontology
Ontology (ONT) $ 0.595519 17.32%
renbtc
renBTC (RENBTC) $ 31,895.00 1.89%
nano
Nano (NANO) $ 4.49 12.20%
basic-attention-token
Basic Attention Token (BAT) $ 0.484028 9.24%
omisego
OMG Network (OMG) $ 3.35 14.35%
republic-protocol
REN (REN) $ 0.325233 10.63%
zencash
Horizen (ZEN) $ 56.49 13.88%
bittorrent-2
BitTorrent (BTT) $ 0.002086 15.98%
swissborg
SwissBorg (CHSB) $ 0.492268 12.57%
ravencoin
Ravencoin (RVN) $ 0.049115 15.58%
iostoken
IOST (IOST) $ 0.017332 12.53%
qtum
Qtum (QTUM) $ 5.22 17.45%
paxos-standard
Paxos Standard (PAX) $ 1.01 1.39%
venus
Venus (XVS) $ 18.27 20.28%
blockstack
Stacks (STX) $ 0.580728 12.14%
matic-network
Polygon (MATIC) $ 1.09 12.92%
curve-dao-token
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siacoin
Siacoin (SC) $ 0.009471 15.01%
quant-network
Quant (QNT) $ 55.27 16.30%
bancor
Bancor Network Token (BNT) $ 2.94 6.01%
reserve-rights-token
Reserve Rights Token (RSR) $ 0.022064 12.45%
fantom
Fantom (FTM) $ 0.226530 14.33%
mdex
Mdex (MDX) $ 1.62 12.28%
enjincoin
Enjin Coin (ENJ) $ 0.894725 18.36%
energy-web-token
Energy Web Token (EWT) $ 5.59 4.65%
lisk
Lisk (LSK) $ 1.83 14.58%
ampleforth
Ampleforth (AMPL) $ 0.811292 3.12%
balancer
Balancer (BAL) $ 15.79 5.05%
terrausd
TerraUSD (UST) $ 1.01 1.25%
ocean-protocol
Ocean Protocol (OCEAN) $ 0.379050 11.59%
husd
HUSD (HUSD) $ 0.980156 1.96%
nxm
Nexus Mutual (NXM) $ 73.07 3.00%
1inch
1inch (1INCH) $ 2.49 14.10%
bitcoin-gold
Bitcoin Gold (BTG) $ 35.63 20.37%
kyber-network
Kyber Network Crystal Legacy (KNCL) $ 1.26 15.20%
verge
Verge (XVG) $ 0.021171 13.98%
decentraland
Decentraland (MANA) $ 0.451827 15.47%
alpha-finance
Alpha Finance (ALPHA) $ 0.364794 19.59%
flow
Flow (FLOW) $ 6.83 14.10%
band-protocol
Band Protocol (BAND) $ 4.77 11.46%
status
Status (SNT) $ 0.038711 21.84%
dodo
DODO (DODO) $ 0.920670 15.78%
bitcoin-cash-abc-2
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compound-usdt
cUSDT (CUSDT) $ 0.021362 0.83%
xdce-crowd-sale
XDC Network (XDC) $ 0.055104 10.80%
staked-ether
Lido Staked Ether (STETH) $ 1,875.73 5.21%
arweave
Arweave (AR) $ 12.83 16.67%
polymath-network
Polymath Network (POLY) $ 0.115237 27.66%
safepal
SafePal (SFP) $ 0.724850 12.17%
true-usd
TrueUSD (TUSD) $ 1.01 1.13%
zkswap
ZKSwap (ZKS) $ 0.806477 12.28%
polkastarter
Polkastarter (POLS) $ 1.03 17.85%
ethlend
Aave [OLD] (LEND) $ 2.08 13.69%
helium
Helium (HNT) $ 9.97 19.16%
civic
Civic (CVC) $ 0.168748 13.97%
pundi-x
Pundi X [OLD] (NPXS) $ 0.001597 2.04%
kava
Kava.io (KAVA) $ 3.00 18.53%
golem
Golem (GLM) $ 0.197330 13.21%
harmony
Harmony (ONE) $ 0.055890 12.91%
nucypher
NuCypher (NU) $ 0.225109 13.20%
holotoken
Holo (HOT) $ 0.005693 15.15%
nusd
sUSD (SUSD) $ 1.02 3.62%
electroneum
Electroneum (ETN) $ 0.006112 10.88%
nervos-network
Nervos Network (CKB) $ 0.011559 13.58%
derivadao
DerivaDAO (DDX) $ 2.38 9.03%
district0x
district0x (DNT) $ 0.127807 31.79%
bitcoin-diamond
Bitcoin Diamond (BCD) $ 1.94 8.88%
trust-wallet-token
Trust Wallet Token (TWT) $ 0.257658 10.79%
rif-token
RSK Infrastructure Framework (RIF) $ 0.145241 2.08%
swipe
Swipe (SXP) $ 1.74 14.31%
gnosis
Gnosis (GNO) $ 142.98 1.55%
numeraire
Numeraire (NMR) $ 26.95 20.53%
rook
KeeperDAO (ROOK) $ 117.73 5.63%
kucoin-shares
KuCoin Token (KCS) $ 6.21 7.91%
btc-standard-hashrate-token
BTC Standard Hashrate Token (BTCST) $ 17.46 13.27%
aragon
Aragon (ANT) $ 3.27 9.37%
fetch-ai
Fetch.ai (FET) $ 0.187854 13.57%
litentry
Litentry (LIT) $ 2.28 15.39%
funfair
FUNToken (FUN) $ 0.016700 6.66%
chiliz
Chiliz (CHZ) $ 0.211342 15.27%
seth
sETH (SETH) $ 1,917.32 1.98%
oasis-network
Oasis Network (ROSE) $ 0.050055 13.31%
injective-protocol
Injective Protocol (INJ) $ 5.99 17.86%
vethor-token
VeThor Token (VTHO) $ 0.005153 17.04%
saffron-finance
saffron.finance (SFI) $ 280.17 11.21%
augur
Augur (REP) $ 11.14 19.24%
the-sandbox
The Sandbox (SAND) $ 0.173315 14.03%
singularitynet
SingularityNET (AGIX) $ 0.132626 18.81%
secret
Secret (SCRT) $ 0.956333 17.26%
telcoin
Telcoin (TEL) $ 0.022577 14.55%
serum
Serum (SRM) $ 2.81 13.31%
gatechain-token
GateToken (GT) $ 2.78 9.83%
mainframe
Hifi Finance (MFT) $ 0.005558 14.13%
sbtc
sBTC (SBTC) $ 31,955.00 3.85%
compound-uniswap
cUNI (CUNI) $ 0.317223 8.62%
ardor
Ardor (ARDR) $ 0.104124 19.41%
vai
Vai (VAI) $ 0.915120 2.37%
utrust
UTRUST (UTK) $ 0.204972 15.07%
prometeus
Prometeus (PROM) $ 11.05 13.10%
reddcoin
Reddcoin (RDD) $ 0.001852 6.02%
monacoin
MonaCoin (MONA) $ 1.35 14.40%
noia-network
Syntropy (NOIA) $ 0.158443 12.00%
compound-0x
c0x (CZRX) $ 0.011984 13.35%
wink
WINkLink (WIN) $ 0.000340 17.06%
ankr
Ankr (ANKR) $ 0.057511 9.08%
bytom
Bytom (BTM) $ 0.058537 8.78%
rocket-pool
Rocket Pool (RPL) $ 7.80 13.44%
origintrail
OriginTrail (TRAC) $ 0.216659 10.07%
steem
Steem (STEEM) $ 0.226009 20.90%
maidsafecoin
MaidSafeCoin (MAID) $ 0.612020 2.80%
tomochain
TomoChain (TOMO) $ 1.44 13.78%
edgeware
Edgeware (EDG) $ 0.006619 2.97%
skale
SKALE (SKL) $ 0.208379 13.41%
stratis
Stratis (STRAX) $ 1.18 7.59%
hegic
Hegic (HEGIC) $ 0.076176 8.66%
komodo
Komodo (KMD) $ 0.576182 18.15%
bitshares
BitShares (BTS) $ 0.038446 12.63%
unibright
Unibright (UBT) $ 0.919336 3.34%
coinmetro
CoinMetro (XCM) $ 0.272699 6.69%
ark
Ark (ARK) $ 0.660842 22.88%
mirror-protocol
Mirror Protocol (MIR) $ 4.83 6.94%
keep-network
Keep Network (KEEP) $ 0.274927 20.17%
neutrino
Neutrino USD (USDN) $ 1.00 1.14%
iexec-rlc
iExec RLC (RLC) $ 2.54 14.52%
harvest-finance
Harvest Finance (FARM) $ 50.37 0.67%
iotex
IoTeX (IOTX) $ 0.015162 16.84%
badger-dao
Badger DAO (BADGER) $ 8.87 14.75%
redfox-labs-2
RedFOX Labs (RFOX) $ 0.049051 23.33%
empty-set-dollar
Empty Set Dollar (ESD) $ 0.045888 22.80%
ultra
Ultra (UOS) $ 0.387894 20.90%
wanchain
Wanchain (WAN) $ 0.511172 13.58%
iris-network
IRISnet (IRIS) $ 0.060558 15.28%
perpetual-protocol
Perpetual Protocol (PERP) $ 4.11 16.58%
trustswap
Trustswap (SWAP) $ 0.664557 12.28%
tokenlon
Tokenlon (LON) $ 2.98 3.10%
orion-protocol
Orion Protocol (ORN) $ 6.39 3.25%
titanswap
TitanSwap (TITAN) $ 3.30 12.37%
tether-gold
Tether Gold (XAUT) $ 1,785.08 0.01%
wax
WAX (WAXP) $ 0.090089 19.30%
yfii-finance
DFI.money (YFII) $ 1,481.36 5.96%
aelf
aelf (ELF) $ 0.135793 14.43%
haven
Haven (XHV) $ 7.33 11.92%
pax-gold
PAX Gold (PAXG) $ 1,793.99 1.05%
defipulse-index
DeFiPulse Index (DPI) $ 220.15 10.46%
math
MATH (MATH) $ 1.24 5.41%
api3
API3 (API3) $ 1.85 21.13%
sora
Sora (XOR) $ 186.22 14.74%
dent
Dent (DENT) $ 0.002236 13.77%
loom-network
Loom Network (OLD) (LOOMOLD) $ 0.037027 17.56%
nftx
NFTX (NFTX) $ 36.65 10.67%
gala
Gala (GALA) $ 0.006591 14.42%
axie-infinity
Axie Infinity (AXS) $ 3.40 5.79%
beefy-finance
Beefy.Finance (BIFI) $ 1,153.88 12.14%
swingby
Swingby (SWINGBY) $ 0.058637 22.10%
parsiq
PARSIQ (PRQ) $ 0.416681 26.05%
akropolis
Akropolis (AKRO) $ 0.015772 11.27%
nest
Nest Protocol (NEST) $ 0.010275 17.22%
stakehound-staked-ether
StakeHound Staked Ether (STETH) $ 3,719.75 0.00%
akash-network
Akash Network (AKT) $ 2.73 1.25%
cream-2
Cream (CREAM) $ 130.53 4.18%
auto
Auto (AUTO) $ 953.02 13.12%
storj
Storj (STORJ) $ 0.606016 15.02%
e-radix
e-Radix (EXRD) $ 0.128704 0.24%
hive
Hive (HIVE) $ 0.199550 17.97%
chainx
ChainX (PCX) $ 3.83 17.86%
wrapped-nxm
Wrapped NXM (WNXM) $ 45.90 8.41%
hathor
Hathor (HTR) $ 0.277090 20.08%
gemini-dollar
Gemini Dollar (GUSD) $ 1.01 2.01%
frontier-token
Frontier (FRONT) $ 0.527480 19.65%
everid
Everest (ID) $ 0.216039 14.97%
lto-network
LTO Network (LTO) $ 0.157901 11.90%
power-ledger
Power Ledger (POWR) $ 0.116675 15.93%
livepeer
Livepeer (LPT) $ 21.46 7.20%
xdai-stake
xDAI Stake (STAKE) $ 8.00 12.61%
rari-governance-token
Rari Governance Token (RGT) $ 4.41 3.29%
cashaa
Cashaa (CAS) $ 0.020439 14.07%
energi
Energi (NRG) $ 1.55 4.28%
bytecoin
Bytecoin (BCN) $ 0.000412 2.07%
duckdaodime
DuckDaoDime (DDIM) $ 10.80 3.88%