Perhaps the biggest news for the first week of April for blockchain and cryptocurrency is Bank for International Settlements (BIS) researchers believe the novel coronavirus could accelerate the adoption of digital payments and further the debate over central bank digital currencies (CBDCs). The global central bank's researchers said: "Irrespective of whether concerns are justified or not, perceptions that cash could spread pathogens may change payment behavior by users and firms." They added the avoidance of cash payments could open a divide between people with access to digital finance and people without. The BIS researchers noted CBDCs could help bridge that digital divide. But they also said central banks would need to make CBDC payments contactless and universally accessible in order to address the COVID-19 crisis.

Here is the rest of the week in review:

Binance chief executive Changpeng Zhao pledged millions worth of crypto to fight the coronavirus pandemic. The major crypto exchange said it is pouring millions into the global fight against the coronavirus. In an ask-me-anything session on Friday, CEO Changpeng Zhao said his exchange already committed at least $2.4 million in crypto to buy desperately needed medical supplies and plans to give up to $2 million more through its philanthropic arm, the Binance Charity Foundation. Though Zhao said Binance had already donated the $2.4 million, the Foundation's website noted just $1 million was donated so far. Zhao also updated followers on several recent announcements. Binance opened its Korean exchange for account registrations on April 2. Binance also acquired CoinMarketCap earlier this week but promised the data site will remain independent.

OneConnect Financial Technology, the fintech subsidiary of Ping An Insurance (PNGAY  ), the largest Chinese insurance firm, entered into a joint program with logistics conglomerate China Merchants Port Group to build a blockchain-based logistics system for the Guangdong-Hong Kong-Macao Greater Bay Area, according to a state media report. Director of Shenzhen Customs Xiaoying Chen said: "Since the central government's directive to develop blockchain technology from last year, Shenzhen customs, China Merchants Group, and Ping An have started to work together to study blockchain applications in cross-border logistics." The platform will include information from Chinese custom services, port operators, logistics firms, financial institutions and export and import companies in a comprehensive system via shared databases on the blockchain.

Crypto prices rose this week to $190 billion, retaking more of the losses from the previous coronavirus selloff. For the majors, all 10 ended up in the green, with Binance Coin (BNB), Bitcoin SV (BSV), and Ethereum (ETH) posting outsized gains. In the top 100, the biggest losers were Status (SNT), down 9.6%, Stasis Euro (EURS), down 1.1%, and WAX (WAXP), down 0.5%. The biggest gainers were Swipe (SXP), up a whopping 101%, Quant (QNT), up 40%, and Nano (NANO), up 31%. Next week traders will see if crypto can overtake resistance near the $200 billion level.

The author does not hold any positions in any of the securities above.