What’s not staying flat is the BTC, unfortunately, it’s not to further up but rather to pull back slightly. BTC fell a tad over 2% on the session, currently closing at $53,650.
ETH on the other hand is reaching new records, still; truly powerful and basically losing correlation with BTC. The new all-time high is $2,800 precisely. Since Monday, ETH holders gained 25%, that’s significant.
Other coins are outperforming BTC but pretty flat in USD terms. Besides DOT and SNX, up more than 5%, you’ll see the rest of the alts just holding on. ADA, LTC, LINK, BCH all of this is staying in range.
The BTC Dominance is edging further down, now below 50, at 49.4. Alts are the outperformers.
If you’re not sure how you feel about markets, let me share some news that might move the needle a bit.
Mastercard’s CEO was on an earning call and discussed crypto including central bank digital currencies, highlighting that applications could go much beyond payments.
Visa’s CEO also issued a statement, saying the company is moving into crypto in a “very big way”.
It was also fascinating to see, in Europe, that Commerzbank and the Deutsche Borse teamed up to look at building a tokenized real estate and art marketplace. This just builds on the appeal and use cases of blockchain.
By the way, last information nugget, did you see that the amount of ETH now staked on Ethereum 2.0 crossed 4 million ETH (or the equivalent of $11 billion). Those are some big amounts.
Written by: Justin d'Anethan, Sales Manager
Welcome to the Weekender: Your weekly round up of the most viewed stories of the week, as voted by you, our readers. This week has seen the negative news flow replaced with tales of adoption, it appears the central bankers, country leaders, and the financial institutions have all agreed: Digital finance is here to stay.
Bitcoin has remained subdued today, with a tight $1,500 dollar trading range. Weekend trading sessions have been volatile as of late, which heighten awareness and interpretations of price action. We could well see fake out moves to both the upside and the downside this weekend, as the market looks for a move that doesn't transpire.
While global investors seem to believe we’re in a recovering economy, the inflation data that came through earlier today in the US, left most selling risk assets for now. Stocks retreated and bonds were bought, pushing the 10-year yield below 1.5%. Gold also edged lower.