Crypto, Tech, Tesla, Etc Curve Down as Rotation Fears Loom
Microstrategy bought, Tesla bought, and we rallied. ETH fees were high, funding was high, longs go squeezed, NASDAQ went down, the yield curve went up, and we crashed.
Microstrategy bought, Tesla bought, and we rallied. ETH fees were high, funding was high, longs go squeezed, NASDAQ went down, the yield curve went up, and we crashed.
Robinhood clarified in a Tweet yesterday that they intend to offer a more complete crypto experience by offering send/receive functions for their cryptocurrency customers.
ETCG is currently trading at or near a negative premium. This is far from the norm for Grayscale products.
Coinbase is going to allow staking on ETH2. This is a big deal, as you’ll be able to lock up your ETH and take it on Coinbase for up to 7.5% APR.
Tesla converted about 10% of its balance sheet to Bitcoin last week, spending a total of $1.5 billion of its roughly $19 billion in cash holdings on Bitcoin.
Dogecoin has bubbled and busted against Bitcoin many times in the past. Thus history suggests the current Doge bubble will pop quickly as well.
ETH is making new all-time highs and ETH-based coins (like DeFi coins) are running. This bullish price action into CME futures on Feb 8th is exciting. However, it is a bit scary as well since CME futures for BTC marked the top of the 2017 bubble.
Coinbase is forgoing an IPO and will go public via direct listing when it launches. The expected price is $200, putting it at about a $75 billion market cap.
In cryptocurrency when a coin pumps the market decides what happens next.
Coinbase will launch a new service called “Coinbase Asset Hub.” This is a product that allows asset issuers to list assets and do business with Coinbase.
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