The markets continue to bathe in the glow of Tesla’s warm embrace, with Bitcoin hitting yet
another (yawn) new all-time yesterday of over $48,000. It’s still not quite $50,000, but it will do for now.
It’s green across the board today, with new all-time highs for Aave and Polkadot yesterday. Cardano also continues its upward streak and is closing in on $1, although has some way to go before it hits its all-time highs from 2018. The fourth-largest cryptocurrency by market cap has now seen a 275% upswing in less than 35 days. Could it become the ‘Ethereum killer’ many have called it?
Crypto at a Glance
It looks like the DeFi circus is back in town and the acrobats are doing backflips and turning heads left, right and centre. AAVE is up more than 15% over the last 24 hours and yesterday set a new all-time high $506. The protocol is now the second-ranked DeFi platform by total value locked (TVL), reportedly driving by an influx of big institutional players (including, rumour has it, billionaire Mark Cuban). Solana has been another big gainer recently, with the blockchain gaining 85% over the last week and breaking into the top 30, while ADA also continues its winning streak and is currently trading at more than $0.50 for the first time since Feb 2018.
With Ether smashing through $1,500, MicroStrategy’s online ‘Bitcoin for Corporations’ event might send BTC stratospheric
There have been so many all-time highs set recently that it’s getting hard to keep up, but seeing Ethereum at over $1,500 will be particularly satisfying for many in the space. Is it now set to follow Bitcoin’s December trajectory and take off into the stratosphere?
It’s good news everywhere today, in fact. Bitcoin has broken out of the range between $30,000 and $35,000. It now needs to comfortably stabilise above the $35k level to see a clear shift in trend, and there are several healthy indicators that suggest it has the momentum in its favour. Michael Saylor of MicroStrategy is also today throwing his get-together to teach public companies how to buy Bitcoin, which is basically the equivalent of Martha Stewart doing a tupperware party. Is institutional investment in Bitcoin set for another shot in the arm? A second dose, if you