Ethereum flips Visa, Palantir goes all in on Bitcoin, and EOS comes to the party
Crypto at a glance
After a brief dip yesterday, Ethereum has come roaring back to another new all-time high of more than $4,300 this morning. It now has a market capitalisation of just below $500 billion, which makes it the 16th largest asset in the world. That puts it above JP Morgan and Visa and means the smart contracts giant is now bigger than any bank. How much further can it climb?
Ethereum’s latest push puts its market dominance at over 20 per cent – the highest it’s been since February 2018. The swing away from Bitcoin comes as the leading cryptocurrency continues to trade sideways. It’s up three per cent over the last 24 hours to $57,000, remaining in that corridor between $50k-$60k where it’s spent much of the past three months.
New kid on the block ICP breaks straight into top 10 as Doge-killer SHIBA storms in
Crypto at a glance
It’s been another turbulent start to the week, as the incredible recent gains we’ve seen across the alt markets slowed to a halt yesterday.
Bitcoin’s market dominance is actually up today for the first time in what feels like months – currently hovering above 45 per cent, having slipped to 44 per cent yesterday. Can it recover its iron like grip on the market?
Ethererum, the second-largest cryptocurrency by market capitalisation, is down almost five per cent today. It’s currently trading at just below $4,000, having hit a new all-time high of $4,197.47 yesterday. Ether’s market dominance also yesterday crossed 20 per cent for the first time in three years, though that’s now back down to 19 per cent again. Can it continue its recent run to claim what would be a hugely psychologically important $5,000 level, or is it due a correction?
Signaling that privacy is coming to DeFi, Sienna Network raises $11.2M for its platform
Last week we saw some major backing of the Secret Network blockchain, as significant blockchain players Arrington Capital and Blocktower Capital invested in the privacy-first smart contract platform. What this is signaling is the rise of privacy-oriented financial blockchain projects, which are crucial if “DeFi” (decentralized finance) is to have any kind of future. We have come to expect privacy in our “normal” financial lives, so we will expect it in the blockchain world.
Today there’s a new signal that this privacy movement in DeFi is taking off with the announcement from privacy decentralized finance company Sienna Network that it has raised $11.2 million from institutional investors and its public supporters. Of that raise, the private token sale raised $10 million from investors, including NGC, Inclusion Capital, Lotus Capital, FBG, Skyvision Capital and others. It also raised $1
Markets bounce back, with wannabes storming out in front as Cardano hits all-time high
Crypto at a glance
Cryptocurrencies rallied again yesterday, with Bitcoin (BTC) up about four per cent over the last 24 hours. It’s currently changing hands at around the $57,000 level.
Ether (ETH) also recovered after Tuesday’s sell-off, setting yet another new all-time high of $3,541.46. It’s also up four per cent and, at time of writing, is trading at $3,450. Can they both keep the momentum going into the weekend?
The price bounce comes as US stocks gained on strong economic data, while US Treasury Secretary Janet Yellen also rowed back on her warning about raising interest rates.
Markets stumble but Doge continues climb ahead of Musk’s SNL appearance
Crypto at a glance
Ethereum’s winning streak came to an end yesterday, having been caught up in a wider sell-off across both the crypto and traditional markets, before recovering later in the day. The second-largest cryptocurrency hit a new all-time high of over $3,500 around lunchtime, before falling to as low as $3,180 as the markets tanked. It’s currently trading at $3,266, down roughly two per cent over the last 24 hours. Can it regain its recent momentum?
It was a similar story for Bitcoin, which has taken a knock of about three per cent since yesterday. The leading cryptocurrency is currently changing hands for around $54,500, having fallen to just above $53,000 before rebounding. This level is becoming increasingly familiar for Bitcoin, as it continues to consolidate. Bitcoin’s market dominance is now down to just 46 per cent, while Ethereum accounts for over 17 per cent of the