Bitcoin Prices Hover Around $55K; Ether Keeps Soaring

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oi-Sneha Kulkarni

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Despite reaching a new all-time high two weeks ago, Bitcoin (BTC) is expected to end April with its first negative month in six years this week.

BTC/USD was about $54,600 at the press time, with less than two days until May. It had briefly spiked to $56,200 on speculation that Facebook had bought Bitcoin in Q1. Those reports, despite reaching mass media, proved to be unfounded.

According to UHY Hacker Young, the United Kingdom’s tax authority, Her Majesty’s Revenue and Customs would increase its efforts to catch cryptocurrency tax evaders in an attempt to uncover what it considers secret wealth.

Bitcoin Prices Hover Around $55K; Ether Keeps Soaring

With a major funding round valued at $2.4 billion, Paxos has entered the crypto unicorn group.

Ether

Under current conditions, Ether (ETH), the largest altcoin, which reached new all-time highs this week, is proving to be especially uncorrelated to Bitcoin. Ether (ETH), the second-largest cryptocurrency by market capitalization, was up 2.37 percent in 24 hours, trading about $2,766.

As investors pour more capital into DeFi, the total value locked in the Ethereum ecosystem has surpassed $64 billion for the first time on Wednesday, setting a new record.

Dogecoin

Elon Musk informed his Twitter followers about the prospect of dogecoin (DOGE) making an appearance on his “Saturday Night Live” hosting debut, causing the cryptocurrency’s value to skyrocket.
The Tesla CEO tweeted Wednesday “The Dogefather SNL May 8” referring to his hosting spot on “Saturday Night Live,” which was revealed just last week.

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