The S&P reached new highs, closing the session above $4,200. The Nasdaq also rose to record levels but ended up closing a bit down. The Dow is still below all-time high but decidedly up. Investors are feeling bolstered by positive earnings and positive expectations by tech companies and lower unemployment numbers. While that’s happening the USD is edging down and gold is staying flat.
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.
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