Week in review: May 7, 2021 - US Banks to Allow Customers to Access Crypto

Week in review: May 7, 2021 - US banks to allow customers to access crypto

If you thought crypto was a fad, you may want to reconsider. Many banks in the U.S will start offering their customers access to Bitcoin and other cryptocurrencies later this year. Will Ether hit $10K as the narrative shifts from Bitcoin to Ethereum? Read the weekly round up below.

Hundreds of Banks in US to Allow Customers to Buy, Sell, Hold Bitcoin Through Existing Bank Accounts

Bitcoin.com: May 5, 2021

Customers of hundreds of banks in the U.S. will soon be able to buy, hold and sell bitcoin through their existing accounts, CNBC reported Wednesday. This will be made possible thanks to a partnership between fintech giant FIS and NYDIG. We offer the same service through ALT 5 Prime.

Citi Considers Launching Crypto Trading and Custody Services

Decrypt: May 7, 2021

The international banking giant is considering wading into the crypto industry, according to its global head of foreign exchange.

Citi would be the latest Wall Street bank to do so, after Morgan Stanley announced plans to allow wealthy clients access to Bitcoin funds in March.

Ether Could Hit $10K, FundStrat Says, Touting Network Value Versus Bitcoin’s

Coindesk: April 30, 2021

Ether (ETH), the second-largest cryptocurrency by market cap, could see further gains towards $10,000 this year after reaching a new all-time high around $2,780 on Thursday – a roughly threefold increase forecasted by FundStrat, a market research firm.

Bitcoin Rises To Two-week High After Breaking Technical Barrier

BNN Bloomberg: April 30, 2021

Bitcoin surged to its highest levels since mid-April after surpassing a closely-watched technical hurdle. The digital token climbed above its average price over the past 50 days, a measure of its short-term momentum.

Shark Tank's Kevin O'Leary Says 'Bitcoin Will Always Be the Gold,' Citing Interest From 'All Kinds of Institutions'

Bitcoin.com: May 1, 2021

Shark Tank star Kevin O’Leary, also known as Mr. Wonderful, says “Bitcoin will always be the gold,” outperforming other cryptocurrencies, such as ethereum, in the long run. He said “there are interests being brought out of all kinds of institutions” for bitcoin.

Ripple Sold Twice As Much XRP in the Last Quarter, as Demand Grows For its ODL Service

Cointelegraph: May 6, 2021

Ripple’s XRP sales are up 97% in Q1, with the firm attributing the growth to its focus on RipplesNet’s On-Demand Liquidity service. Ripple posted its Q1 markets report on May 6th and revealed that total sales net of purchases had gone from $76.27 million in Q4 2020, to $150.34 million in Q1 this year.

Original Ethereum Outperforms ETH Despite Its 'Institutional Evolution'

Cryptonews: May 5, 2021

The native token of the original Ethereum blockchain, Ethereum Classic (ETC), is rallying, rising nearly 50% in a day, outperforming Ethereum (ETH) despite its 'institutional evolution'.

Mark Cuban: The 3 Ways Ethereum ‘Dwarfs’ Bitcoin

CNBC: May 5, 2021

According to billionaire investor Mark Cuban, “the number of transactions and the diversity of transaction types along with the development efforts in Ethereum dwarf bitcoin,” he tells CNBC Make It. “The utilization of Ethereum is much higher.”

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ALT 5 Sigma covers fintech, blockchain, Bitcoin and cryptocurrencies bringing you the latest news and analysis on the future of money.