Coinbase SMASHES Volume Records During Bitcoin Volatility

Plus a slew of stablecoin news and some fierce debates on Crypto Twitter

Happy Friday (phew) Blockfolians

The Lede

During last week’s insane bitcoin crash Thursday into Friday, Coinbase saw record volume of more than $2B (compared to for example yesterday’s $394m). Site traffic also set new records by more than 50%.

Now, you skeptics might be thinking “sure…it was people selling, right?” As it turns out, Coinbase has been more than 70% buy orders for the past few weeks. In other words, bitcoiners aren’t just HODLing, they’re accumulating.

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Highly Relevant Reading

  • Spencer Dinwiddie partners with Cred to launch an interest-bearing stablecoin

  • Crypto hedge fund Adaptive Capital shuts down in the wake of last week’s market crash

  • Tether is now on BCH - it’s 7th blockchain

  • The total supply of the USDC stablecoin has grown 42% since March 1


Community Commentary

Dilbert’s dad is provoking some interesting debate with this one
MyCrypto CEO Taylor Monahan provokes one heck of a discussion around accusations that former Bakkt CEO and now Senator Kelly Loeffler profited from knowledge that the Coronavirus was worse than she (among others) was letting on

A Really Big Number We Should All Be Paying Attention To

$635,000,000

That’s the total value of assets the Tezos Foundation held as of January. Given that 47% of that was in bitcoin, it’s probably lower now, but boy - that’s a hell of a warchest for rough times.


Final Thought

That Coinbase thing up there was cool right? Well, looks like they’re not the only one.