Eventful Week for the Cryptocurrency MarketScroll Down
There was a lot of news in cryptocurrency the week of March 7 to 13. Non-fungible tokens took the limelight. Digital artist Beeple, also known as Mike Winkelmann, made history when his Everydays: The First 5000 Days piece sold for a stunning $69.3 million at a Christie's auction. Just two other living artists, David Hockney and Jeff Koons, have sold a piece for a higher price. Everydays consists of 5,000 unique images produced one per day for the past 13.5 years. The images highlight Beeple's changes as an artist.
NFT A group called Burnt Banksy made a big profit after completing a risky mission. They bought a Banksy painting for $100,000 in February. Called "Morons", it's a satire of the arti industry. Last week, they set it on fire on a Twitter live stream. They turned it into an NFT. It sold for 228 ETH, which was worth more than $400,000 as of early March 14. A former DC Comics artist made $1.85 million by selling Wonder Woman NFTs this week. There were some other NFT events in the music and sports industries, too.
Bitcoin One year ago, Bitcoin was coming off a steep loss. This week, it set an all-time high of $59,000. Nobody knows if this is a sign of more gains or if it's just market volatility. Some people think April 15, the tax filing deadline, could lead to sell-offs of Bitcoin. April is usually a bear month in cryptocurrency. As a result, Bitcoin is this week's top winner. By the end of this week, Bitcoin ended at $60,539, it's highest price ever. Ether's closing weekly value was at $1,936. XRP finished the week at $0.44. The total market cap of all cryptocurrencies is at $1.8 trillion. Bitcoin's share of it is steady. The best-performing alt coin performers for the week of March 7 to 13 include Chiliz, Theta Fuel and Ankr. They each had gains in excess of 10%. The three biggest alt coin losers of the week of March 7 to 13 were NEM, Fantom and Voyager Token. They lost more than 5% value.