Last week, more enthusiasm about company earnings drove equity indexes higher. The S&P was already reaching new records almost daily and, on Friday, it rose another 0.75% in that price discovery zone, reaching 4,350. The Nasdaq also marched on to new highs. The focus really is on equities and less on other assets like bonds, bought slightly, the dollar, timidly retracing, or gold, up but just walking back on previous losses.

Within that environment BTC is still really just trading in range. From Friday’s open to Sunday’s close, prices just rose 5.8%, between $33,500 and $35,500. During that action, though, it was fascinating to see the user growth actually hit a 2021 high, suggesting more people are getting involved in this area.

It’s really just personal but I feel like we’re still in an accumulation phase. There’s a lot of positive news coming through from many different angles and sources but prices seem unreactive, which leads me to believe it will have to eventually spring up.

Crypto investors are also broadly feeling more courageous; you can see that through the BTC dominance edging lower, as traders go for more speculative projects. Among the best performers in the last 24-hour session: COMP up 20%, AAVE, up 10%, MKR and GRT up 8%, then ETH, LINK and MATIC up about 5%.

On the latter, I’m super excited for the users of our EQONEX exchange, we literally just listed MATIC on our exchange, adding it to the several other spot pairs we have on there. It’s the opportunity to have maybe a more diversified activity or holdings on the platform.

Onto news moving markets, Binance continues to suffer regulatory woes, from the US to the UK to now Thailand, it seems that regulators are coordinating to look into the compliance processes -and so far finding them insufficient.

Some investigating reporters found that, in the US, Jerome Powell’s diary shows he met Coinbase CEO, crypto investor in May. Of course no one knows whether that’s bearish or bullish but it denotes at least a more serious consideration of the space.

Lastly, a new law in Germany means that around 4,000 existing institutional investment funds will now be eligible to invest in crypto assets. After the purchase of Crypto Finance AG by the Deutsche Borse, last week, it seems that the region is seriously getting involved in crypto. And we’re loving it.

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