Mike Novogratz’s Galaxy Digital Launching a Bitcoin Fund

Het fonds zal beschikbaar zijn voor investeerders in Canada.

Nu Bitcoin zijn piek eind 2017 bereikt, heeft Galaxy Digital, de door Mike Novogratz opgerichte crypto-gerichte handelsbank, samen met CI Global Asset Management (CI GAM) een nieuw Bitcoin-fonds op de markt gebracht.

CI GAM zal het nieuwe Bitcoin-fonds beheren, terwijl Galaxy Digital zal optreden als haar sub-adviseur, wat betekent dat het alle Bitcoin-handel op de helft van het fonds zal uitvoeren.

Het fonds wordt gedubbeld CI Galaxy Bitcoin Fund, het fonds zal gesloten zijn en CI GAM heeft al een ontvangstbewijs ingediend en gekregen voor het voorlopige prospectus voor de beursgang (IPO).

De aankondiging van maandag dat het beleggingsfonds direct zal beleggen in Bitcoins tegen de Bloomberg Galaxy Bitcoin Index, die de prestaties van de Bitcoins ten opzichte van de Amerikaanse dollar meet.

Hoewel de totale omvang van het fonds nog niet bekend is, zal het eenheden van Klasse A en Klasse F aanbieden tegen een prijs van $10 per stuk.

Stijgende vraag naar Crypto
Het hoofdkantoor is gevestigd in New York, Galaxy Digital kreeg tractie in de drukke industrie, voornamelijk dankzij de miljardair oprichter, Mike Novogratz. Het bedrijf biedt een reeks van crypto-gerichte diensten aan, waaronder vermogensbeheer, handel en investeringsbankdiensten.

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De aankondiging van het nieuwe fonds kwam toen Bitcoin een bullish rally liet zien, en de vraag naar de diensten van Galaxy Digital stijgt ook.

In de financiële update van Q3 onthulde het bedrijf Galaxy Digital Asset Management dat het een totaal aan activa onder beheer (AUM) heeft van 407,4 miljoen dollar. Bovendien, getuigde zijn handelseenheid een 75 percenten jaarlijkse groei met een totaal handelsvolume van $1.4 miljard voor het kwart.

Verder meldde het bedrijf een inkomen van meer dan $44,6 miljoen in het derde kwartaal van 2020.

Vorige week, rapporteerde de Magnaten van Financià „n over de Digitale aanwinst van de Melkweg van twee cryptocurrency bedrijven, crypto geldschieter, DrawBridge en merkgebonden handelsfirma, het Blauwe Kapitaal van de Brand.

„De ,,Digitale Melkweg boekte vooruitgang over onze bedrijfslijnen in het derde trimester, met inbegrip van recordvolumes in onze handelszaken,“ Novogratz zei onlangs. „We hebben verschillende belangrijke stappen voorwaarts gezet in de tweede helft van 2020… een inkomende golf van institutionele adoptie voor digitale activa en blockchain-oplossingen door investeerders, bedrijven en overheden.“

Hvordan institusjoner ser bort fra gull og mer i BTC

  • I følge en nylig publisert forskning bemerket av det institusjonelle konglomeratet JP Morgan Chase, foretrekker institusjonelle investorer nå verden av kryptovaluta fremfor edelt metall av gull.
  • Spesielt fremhevet analytikerne at i løpet av oktober, en av de største digitale kapitalforvalterne i verden, så Grayscale en kumulativ tilstrømning av sin bitcoin-tillit.

I følge en nylig publisert forskning bemerket av det institusjonelle konglomeratet JP Morgan Chase, foretrekker institusjonelle investorer nå verden av kryptovaluta fremfor edelt metall av gull.

Spesielt fremhevet analytikerne at i løpet av oktober, en av de største digitale kapitalforvalterne i verden, så Grayscale en kumulativ tilstrømning av sin bitcoin-tillit. På den andre siden av saken hadde børsnoterte fond „beskjeden innstrømning“ siden midten av forrige måned.

Rapporten bemerker:

„Det som gjør oktoberstrømningsbanen for Grayscale Bitcoin Trust enda mer imponerende, er dens kontraster med den tilsvarende strømningsbanen for gull-ETF-er som generelt sett hadde beskjedne utstrømninger siden midten av oktober.“

I hovedsak indikerer denne rapporten at mange institusjonelle investorer som en gang foretrakk gull, nå skifter mot bitcoin som et foretrukket alternativ.

På grunn av den høye etterspørselen fra både institusjonelle og private investorer i bitcoin, har det resultert i en økt etterspørsel etter bitcoin-tilliten fra Grayscale.

Interessant ble det fremhevet i rapporten at denne trenden kan ha potensial for en positiv innvirkning på lang sikt når det gjelder bitcoin som en butikk med verdi. Hvis kongemynten er i stand til å fortsette å konkurrere så godt mot alternativet for edle metaller, kan den ytterligere etablere anerkjennelse som en legitim finansiell eiendel i markedene.

BITCOINS HØYRE HØYE VISNINGER BARE HVORDAN SVAKE FIAT VALUTA BLIR

I løpet av helgen satte Bitcoin en sentralt høyere høyde. Og selv om kryptoaktiva trekker seg litt tilbake med ukens valgusikkerhet, kan en bekreftet opptendens gi klar himmel i ukene fremover.

Forteller imidlertid mangel på en høyere høyde på andre toppvalutaer en annen historie om Crypto Bank – en som i stedet fremhever dollarens svakhet mer enn kryptovalutas styrke?

TOPP CRYPTOCURRENCY Setter ENDELIG HØYERE HØYT FOR FØRSTE GANG SIDEN BULLMARKEDET

I følge Investopedia er definisjonen av en oppadgående trend „et generelt trekk høyere i pris, skapt av høyere svingninger og høyere svinghøyder.“ Bitcoins høyere lavpunkt på Black Thursday, så skremmende som den dagen kan ha vært, var et skritt i å snu trenden fra bearish til bullish.

Den andre brikken i puslespillet kom til spill i helgen da på Halloween og en fullmåne Bitcoin-pris eksploderte helt til $ 14100 på toppen av BTCUSD-paret.

$ 14 000 BTC er betydelig i seg selv, men det satte også den første høyere high på høye tidsrammer siden desember 2017. Det månedlige lyset stengte under nøkkelmotstandsnivået på $ 13 800. Når dette nivået er ryddet, ifølge teknisk analyse, er den eneste motstanden som gjenstår på $ 20.000.

DOLLAR-AVFALL: BITCOIN FALL KORT AV NYE HØYDER MOT EURO, YEN OG MER

Bulls har feiret Bitcoins høyere high og det de mener er en bekreftet opptrend. Men dessverre har kryptovalutaen ikke klart å sette en høyere høyde mot andre ledende verdens fiat-valutaer, noe som tyder på at det kanskje er dollarens svakhet bak den nye topp i pris, og ikke en opptrend som forventet.

Mot euroen klarte ikke Bitcoin å sette en høyere høyde. Pund sterling kom også kort fra nøkkelnivået.

Alle valutaer handler til forskjellige verdier, så det er ikke overraskende å se svingninger mellom hvor kryptoaktiva er versus andre eiendeler. Bitcoin har til og med satt en ny heltidshøyde mot andre globale valutaer, som den brasilianske realen.

Forskjellen skyldes svakhet i disse andre valutaene, slik at Bitcoin får overtaket. Mot sterkere valutaer, som yen, avbildet nedenfor, klarte ikke Bitcoin å bekrefte en opptrend.

På grunn av greenbackens globale reservevalutarolle handler dollar mot alle andre eiendeler og er basisvalutaen som valutakursene blir satt til.

På grunn av dollarens dominans, er BTCUSD det diagrammet som betyr mest, og det høyere er i.

Bitcoin theft: nine years in prison for ex-Microsoft employees

This action is dearly for a former Microsoft employee: he received nine years in prison for multiple Bitcoin thefts with hacked accounts from colleagues.

The anonymity of the Internet attracts many black sheep, and it is no different in the area of ​​digital currencies

Stupid for the criminals only when the supposed anonymity turns out to be not as secure as initially thought . This is the experience now made by someone who you should actually think should know better. In fact, the investigators actually went online with a former Microsoft employee. He had stolen Crypto Trader worth more than 10 million US dollars, as the US authorities in a message declared.

He used his knowledge as a software engineer to hack accounts and passwords and use them to steal digital gift cards. He sells these online and used the proceeds to treat himself to extravagant vehicles and houses by the sea. Now he sees bars instead of surging waves, as he will have to spend the next nine years under lock and key.

The perpetrator’s personal details are known. The 26-year-old Ukrainian citizen Volodymyr Kvashuk initially worked as a contractor at Microsoft. He was employed by Microsoft from August 2016 until his release in June 2018. In February 2020, he was convicted by a jury of multiple transfer fraud, money laundering, serious identity theft, filing false tax returns and, in one case each, of postal fraud, fraud with access devices and access to a protected computer to promote fraud.

Defendant used accounts from Microsoft colleagues

Kvashuk was trying out Microsoft’s online retail platforminvolved. He used this test access to steal Currency Stored Value (CSV) such as digital vouchers. The Ukrainian resold the CSVs on the Internet. Initially, he only stole small amounts through his own account. But then he also used test e-mail accounts that were connected to other employees. He used a mixing service for Bitcoin to hide the source of the funds that eventually ended up in his bank account. In total, about $ 2.8 million was transferred to its accounts as bitcoin in the seven months of Kvashuk’s illegal activities.

He was also guilty of tax evasion by providing false information. The punishment was so high because the culprit wanted to draw suspicion on others by hacking his colleagues‘ accounts.

High on Election Day? 4 reasons why Bitcoin went up 2% in 30 minutes

The price of Bitcoin rose 2% in 30 minutes as the election caused great volatility in the US stock market.

High on Election Day? 4 reasons why Bitcoin rose 2% in 30 minutesMARKETER ANALYSIS

The price of Bitcoin (BTC) rose 2% in just 30 minutes as the US stock market rang its opening bell on November 3. During the Bitcoin Pro scam pre-market period, the Dow Jones rose by more than 350 points on the day the US elections triggered massive volatility.

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The four reasons that probably led to an upward trend in Bitcoin in such a short period are the election, the increase in stocks, negative financing and the increase in exchanges outflows.

The election is positive for Bitcoin for two reasons. First, a Biden or Trump victory would benefit BTC in the short term, according to industry figures.

Crypto derivatives volume more than triples spot trades
Tyler Winklevoss, CEO of the Bitcoin Gemini exchange, said:

„Both political parties are addicted to the Fed money printer, so no matter who wins the election, the only real long-term winner will be #Bitcoin.
Tom Lee of Fundstrat Global Advisors said the shares could go up 10 percent with a Biden victory. In that case, the risky assets would likely recover, benefiting Bitcoin. But if Trump wins, Lee said the shares could rise even higher by 15 to 17 percent.

Meanwhile, Goldman Sachs issued a note earlier this month suggesting that „a blue wave would likely lead us to update our forecasts. Although experts are divided on the potential impact of the election on the stock market, it appears that both scenarios would be beneficial to the BTC later this year.

US stock market recovery coincides with BTC recovery
As Dow Jones saw a 350-point pre-market increase, BTC’s price rose from about $13,500 to $13,730 in 30 minutes.

Although Bitcoin has shown a declining correlation with US stocks in recent weeks, during an upward trend, BTC and stocks should rise together. Although Bitcoin is seen as a store of value, both BTC and stocks are still risky assets.

A rising stock market may mean that the markets are ambivalent about the eventual winner of the election.

Sellers caught off guard
When the Bitcoin abrupt increase occurred, the BTC Futures funding rate at Binance Futures was below 0%.

The crypto-currency futures exchanges implement a mechanism called „financing“, which encourages the minority in the market. If the number of sellers is greater than that of long-term buyers or holders, sellers will have to pay fees to buyers every eight hours.

But when the price of Bitcoin rises and there is also an additional incentive to buy BTC, a small squeeze may occur. Considering that BTC has increased by 2% in less than an hour, the dominant cryptomeda has seen a big squeeze in sales.

Exits from exchanges are increasing
According to data from CryptoQuant, an on-chain market analysis firm, exchanges outflows registered the highest peak this year, around 30,000 BTC.

Bitcoin exchanges outlets. Source: CryptoQuant
Traders deposit Bitcoin in exchanges when they want to sell their assets. Therefore, when capital flows out of exchanges, it means that traders, whales and retail investors intend to hold their BTC assets for an extended period.

The combination of price squeeze factors, electoral uncertainty, an uptrend in the stock market and rising foreign exchange outflows have contributed to the sudden rise in BTC prices.

Predicción de precios de Bitcoin: El BTC/USD se enfrenta al rechazo a 13.200 dólares mientras los toros compran las caídas

Predicción de precios de Bitcoin (BTC) – 26 de octubre de 2020

Hoy, el precio del BTC/USD volvió a probar la resistencia de 13.200 dólares y cayó a un mínimo de 12.800 dólares. Bitcoin ha estado confinado entre niveles de 12.800 y 13.200 dólares durante una semana. El movimiento ascendente se ha visto obstaculizado por la intensa presión de venta en el máximo de 13.200 dólares.

  • Niveles de resistencia: 13.000, 14.000, 15.000 dólares.
    Niveles de apoyo: 7.000, 6.000, 5.000 dólares.
    BTC/USD – Gráfico diario

Tras la interrupción de la actual tendencia alcista en el reciente máximo, los compradores han estado haciendo esfuerzos frenéticos para romper la actual resistencia y reanudar el movimiento ascendente. Hoy, los toros compran las caídas después de que el precio cayó a 12.800 dólares. Los toros han hecho intentos anteriores de romper la resistencia a 13.200 dólares, pero fueron repelidos. Sin embargo, en el primer intento del 25 de octubre, los toros rompieron la resistencia superior pero no pudieron sostener el movimiento ascendente.

El mercado alcanzará un máximo de 14.000 dólares una vez que se rompa la resistencia. Por otro lado, si los osos rompen por debajo de 12.800 dólares, el mercado caerá hasta el mínimo de 12.460 dólares. En una situación en la que los niveles del rango no se rompan, Bitcoin se consolidará durante unos días más. Bitcoin sigue operando por encima del rango del 80% del estocástico diario. BTC está operando en la región sobrecomprada del mercado.

El número de ballenas de Bitcoin aumenta durante la última semana de aumento de precios

Debido al reciente aumento de los precios, el número de ballenas Bitcoin ha seguido aumentando. De acuerdo con BitcoinCharts: El 20 de octubre, 2.178 direcciones de Bitcoin contenían al menos 1.000 BTC. De forma similar, el 25 de octubre, este número aumentó a 2.231. Estos 1.000 BTC se traducirán en aproximadamente 13 millones de dólares a los niveles de precios. De acuerdo con los informes, estas direcciones de ballenas controlan un número mucho mayor de 7.902.469 BTC, o el 42% del suministro total.

BTC/USD – Gráfico de 1 hora

Bitcoin tiene un rango entre los niveles 12.800 y 13.200 dólares. El 25 de octubre la tendencia alcista del BTC se resistió a un máximo de 13.358 dólares. El cuerpo de la vela retrazada probó el nivel de retrazado de Fibonacci del 38,2%. Esto indica que Bitcoin subirá y alcanzará el nivel 2.618 de extensión de Fibonacci. En otras palabras, el máximo de 14.256,20 dólares.

For the first time since 2018, Bitcoin’s balance sheet in the exchanges fell below 2.5 million

Bitcoin’s balance on three popular exchanges decreased by 390,000 BTC over the last 9 months.

On October 20, 2020, the amount of Bitcoin (BTC) held in the major exchanges fell below 2.5 million BTC for the first time in two years.

Market sentiment and BTC fundamentals still favor the rise in Bitcoin prices

Nexo co-founder Antoni Trenchev told Cointelegraph that this trend is driven by the world finally realizing that only Bitcoin offers a sound monetary policy:

„People] are slowly realizing what some of us have known for some time: BTC is the only sound monetary policy at this time and cannot afford to step away from the best performing asset of the decade.

He also noted that the community is turning more to self-custodial solutions, including platforms like Nexo, where they can „profitably borrow against their assets rather than sell them. Cointelegraph noted yesterday that the provision of Bitcoin is now more widespread than ever.

Major traders say Bitcoin’s logarithmic chart points to a bullish cycle similar to that of late 2017

Alex Mashinsky, co-founder of the crypto-lending platform, Celsius, told Cointelegraph that the exodus is likely to continue unless exchanges start offering better terms to their clients:

„As long as the exchanges refuse to give their customers more, they will leave them and return to Celsius. We just crossed the $2.7 billion in deposits since the launch two years ago. We wouldn’t be growing this fast unless we did more for our customers than the exchanges. „

In the graph above, we can see that this change has not affected all exchanges equally. Although the balances in BitMEX and Bitfinex were decimated, decreasing by more than half, Binance has continued to accumulate additional funds. Coinbase’s coffers have also remained virtually untouched.

Gemini Executive Becomes New CEO of Cryptoexchange Bitstamp

DeFi’s growth may also have contributed to this trend. The amount of Bitcoin blocked in Ethereum through wBTC and renBTC is currently over 130,000. Just a few months ago, these numbers were negligible. Another possible culprit is institutional adoption. In addition to the continued growth of Grayscale’s Bitcoin Trust, open-ended companies like MicroStrategy and Square began adding cryptoactives to their treasuries.

Why has this crypto trading software provider been so busy this 2020?

The biggest losers: the exchanges that led the trend.

There seems to be a general trend towards users withdrawing their Bitcoin from custody exchanges, or perhaps some important exchanges are simply losing the trust of their customers. The latter may be a reasonable conclusion, since only three platforms (BitMEX, Huobi and Bitfinex) were responsible for most of the trend: their balances decreased by 390,000 BTC, making them responsible for almost 80% of the total decrease.

Il CEO di MicroStrategy spiega perché Bitcoin è un investimento migliore dell’oro

In una recente intervista, Michael J. Saylor, CEO della società di business intelligence MicroStrategy Inc. quotata al Nasdaq, ha spiegato perché la sua azienda ha deciso di investire circa 425 milioni di dollari in Bitcoin invece che in oro.

L’11 agosto, MicroStrategy Inc. ha annunciato con un comunicato stampa di aver „acquistato 21.454 bitcoin a un prezzo di acquisto aggregato di 250 milioni di dollari“ da utilizzare come „attività di riserva primaria di tesoreria“.

„Questo investimento riflette la nostra convinzione che Bitcoin Loophole in quanto la crittovaluta più largamente adottata al mondo, sia un’affidabile riserva di valore e un attraente asset d’investimento con un potenziale di apprezzamento a lungo termine più elevato rispetto al denaro contante.

„Fin dalla sua nascita, oltre un decennio fa, il Bitcoin è emerso come un’aggiunta significativa al sistema finanziario globale, con caratteristiche utili sia per i privati che per le istituzioni.

„MicroStrategy ha riconosciuto il Bitcoin come un asset d’investimento legittimo che può essere superiore alla liquidità e di conseguenza ha fatto del Bitcoin la principale partecipazione nella sua strategia di riserva di tesoreria“.

Poi, nel settembre 2015, Saylor ha rivelato che la sua società ha effettuato un secondo grande acquisto di Bitcoin

La settimana scorsa Saylor ha rilasciato un’intervista a Stansberry Research, „un editore di informazioni finanziarie e software in abbonamento“.

In questa intervista, Saylor ha spiegato perché MicroStrategy ha scelto di investire in Bitcoin invece che in oro.

„Ho considerato l’oro, e poi ho iniziato a studiare i due, e poi mi sono reso conto che i minatori d’oro produrranno circa il 2% di oro in più ogni anno… Diciamo solo che nel migliore dei casi, per 100 anni produciamo il 2% di oro in più, il che significa che 100 milioni di dollari saranno ridotti a 12,5 milioni di dollari in 100 anni. D’altra parte, la Bitcoin sta esponenzialmente andando a scorrere all’infinito. Non ci saranno mai più di 21 milioni di Bitcoin.

„Quindi stai davvero parlando, al massimo, di diluire 100 milioni di dollari di Bitcoin di 10 milioni di dollari nel corso dei cento anni. Dato che il Bitcoin è un bene infinitamente duro, mentre l’oro può essere prodotto dagli esseri umani con sufficienti incentivi, mi sono reso conto che a lungo termine il Bitcoin è il bene più duro dell’oro“.

Ha sottolineato che il Bitcoin è diverso dalle altre materie prime in quanto quando il suo prezzo sale, non è possibile per i minatori rispondere aumentando l’offerta:

„Se raddoppiate il prezzo dell’oro, raddoppierete l’incentivo dei minatori a produrre oro, e se l’oro sale di un fattore 10, gli esseri umani hanno un modo di mettere il capitale nell’estrazione e nell’ingegno e inventeranno modi migliori per estrarlo, e a un certo punto fonderanno i loro gioielli, o troveranno altro oro. D’altra parte, se il Bitcoin sale di un fattore 10, nessun investimento nell’estrazione del Bitcoin può produrre più Bitcoin“.

Ecco Saylor che parla di come l’oro digitale sia migliore dell’oro fisico

„Il Bitcoin è oro digitale e questo significa che è più veloce. Posso spostarlo in mille posti in un paio di secondi. È più forte. Posso impegnare cento milioni di dollari per tre ore in Giappone il sabato pomeriggio.

„È più intelligente. Posso scrivere un programma per computer che taglierà a fette un milione di pezzi e ci farà cose complicate.

„Migliorerà ogni anno per sempre solo perché è un software e questo significa che le persone che sono attratte da Apple e Amazon e da Google e Facebook, perché sono reti più intelligenti, più veloci e più forti, saranno attratte da Bitcoin“.

Immagine in primo piano di „SnapLaunch“ via Pixabay.com

I punti di vista e le opinioni espresse dall’autore hanno solo scopo informativo e non costituiscono consulenza finanziaria, di investimento o di altro tipo.

Crypto ondersteund door Bitcoin als aandelen Voel de FUD

Bitcoin zet zijn opwaartse trend voort en neemt de meeste belangrijke valuta mee. Filecoin bestrijdt een achterhoedeactie terwijl het aandelenvertrouwen laag blijft.

Crypto is optimistisch omdat Bitcoin zijn sterke prestaties voortzet

Beleggers in Filecoin kijken toe terwijl het netwerk wordt opgeschrikt door berichten over opstand.
De aandelenmarkten kenden een grote uitverkoop omdat het vertrouwen in een stimuleringspakket laag blijft.

Het was een bijzonder goede dag op de cryptomarkten. De totale marktkapitalisatie is gestegen met een gezonde 2,3%, waarmee het meer dan $ 372 miljard bedraagt. The News Spy leidde de aanval met een winst van 3,4%, gevolgd door Monero met 3,4% stijgingen, de aanhoudende bull run van Stellar zag het de afgelopen dag 5,3% stijgen en XRP steeg ook met 3,17%.

Waarom zijn HODLers in zo’n goede bui?

Het is moeilijk te zeggen, maar één theorie heeft te maken met de prestaties van Bitcoin als een actief dat zich niet op dezelfde manier gedraagt ​​als aandelen en / of goud.

Terwijl mensen als de S&P en de Dow Jones gisteren in het rood eindigden, net als goud, is Bitcoin de andere kant op aan het trenden. “Dit geeft aan beleggers een signaal dat er een actief is dat beter bestand lijkt te zijn tegen geopolitieke schommelingen, zoals de Brexit en de Amerikaanse algemene verkiezingen. Het heeft het tot een aantrekkelijk voorstel gemaakt ”, zegt een woordvoerder van AAX , ’s werelds eerste digitale activabeurs die wordt aangedreven door de London Stock Exchange.

In combinatie met de afnemende vluchtigheid van Bitcoin , zou dit de reden kunnen zijn waarom Bitcoin zo’n goede maand heeft. Analisten lijken het daarmee eens te zijn.

Market capitalization of all Ethereum assets exceeds $ 100,000,000,000

Ethereum (ETH) mining will soon no longer be necessary: ​​The Ethereum blockchain will switch from PoW to PoS and will no longer need miners to verify the blocks. The picture shows an Ethereum coin on a circuit board.

The total value of all assets in the Ethereum ecosystem has exceeded $ 100 billion, according to data from blockchain database startup Messari

The company says that the market capitalization for ERC-20 coins on Ethereum – which consists mainly of stablecoins, DeFi coins, utility and exchange coins, and many others – started growing in 2017. Messari’s lead research analyst Ryan Watkins highlights the growth trend that reached a historic milestone in July:

I highlighted that the market capitalization of the ERC-20 tokens has for the first time ever reached parity with ETH, which further illustrates this development.

The trend has not stopped since then, and the market capitalization of the ERC-20 tokens is now well above the market capitalization of ETH.

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Messari-data-on-Ethereum-and-ERC-20 tokens

Watkins further notes that in the past few months the total value of all ERC-20 tokens has soared to a level not seen in over two years.

In the third quarter, the total value of all Ethereum assets exceeded $ 100 billion for the first time since 2018 – the height of the ICO boom.

The combined market capitalization of the ERC-20 tokens now significantly exceeds that of ETH.

Market-capitalization-of-the-ERC20-Token

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What about Ethereum’s health?

The appreciation of Ethereum has raised many questions about the future of the second largest cryptocurrency, Watkins says. One question in particular relates to the weak performance of Ethereum compared to the meteoric rise of DeFi.

Another concern for Watkins is the possibility that issuing certain tokens on Ethereum such as USDT (Tether) and other stablecoins may not be beneficial to ETH’s long-term health.

Bloomberg Intelligence’s commodities analyst Mike McGlone recently said he believes Ethereum will lose second place in terms of market cap to USDT.

The rapid rise in stablecoins‘ market capitalization suggests that central bank digital currencies (CBDCs) are a matter of time in our view. It may take something significant to stop the rampant adoption of Tether, the top stablecoin, which, based on the regression trend since early 2019, will match Ethereum’s capitalization in just under a year.