Lyllah Ledesma is a CoinDesk Markets reporter currently based in Europe. She holds bitcoin, ether and small amounts of other crypto assets.
Bitcoin had a strong week, adding 11% in the past seven days, but altcoins surged even more, with some rallying in excess of 50%.
The top gainer was VeChain’s VET, which climbed some 65%. VeChain is a blockchain that aims to improve supply-chain management and business processes for enterprises. Besides following bitcoin’s pump, the catalyst for VET’s surge is unclear, though the companyearlier in the week that"Account Abstraction" had gone live, improving interoperability and unlocking programmable smart contract wallets.
With bitcoin's price rising to just shy of $53,000, MicroStrategy , the largest corporate owner of the crypto, has seen its holdings climb above $10 billion, amassing a profit of more than $4 billion.at the end of January the company held 190,000 bitcoins purchased for a total of $5.93 billion, or $31,224 per coin. MicroStrategy began acquiring bitcoin in second-quarter 2020, and has bought tokens every quarter since.
Coinbase shares surged after the U.S.-listed cryptocurrency exchange beat analysts' estimates for fourth-quarter earnings and revenue, benefiting from soaring crypto prices.beating the average analyst estimate of $0.02 per share, according to FactSet data. Revenue of $953.8 million exceeded the analyst forecast of $826.1 million. Shares of the crypto exchange rose about 13% in post-market trading on Thursday after adding about 3% during the regular session.
The ask is a price the seller is ready to accept, while the bid is a price the buyer is willing to pay.award-winningin a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.
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