Crypto market bounces back, Ethereum upgrade rolling out to testnets

24 Jun 2021

???? BTC | $33,585 (+1,540, +4.8%)

???? ETH | $1,971 (+131, +7.3%)

???? XRP | $0.66 (+0.13, +24.2%)

???? LTC | $130 (+13, +11.3%)

MicroStrategy has bought even more Bitcoin during the recent dip. They now hold around 106K BTC, at an estimated average cost of around $26K. Notably in contrast to earlier purchases of Bitcoin, their move did next to nothing to rally the crypto market.

Ethereum’s hotly anticipated EIP-1559 update is rolling out to the testnet today, ahead of the London hard fork scheduled for July. More testnet launches will be conducted over the next few weeks, and industry players will be watching this carefully to assess if the London update will run into further problems or delays.

Founders of a South African crypto investment firm Africrypt have disappeared with 69K BTC, worth $2.3B at current prices. Cryptocurrencies are not considered financial products by regulators in South Africa, meaning that they are likely unable to launch a formal investigation into the matter. Bitcoin has fallen in the past on the announcement of major scams or regulator warnings.