Posted on 05/12/2021 9:14:18 AM PDT by SeekAndFind
The Ethereum market cap briefly topped $500 billion for a new all-time high. This officially made the network more valuable than Visa.
While the Ethereum market cap has dropped back slightly to $496 billion at the time of press, it’s still $2 billion ahead of Visa. Ethereum also managed to jump the market caps of both Walmart and the Wall Street banking giant JP Morgan Chase earlier this week.
Ethereum is currently up 9% on the day and is trading at $4,310.
Bullish trends for Ethereum and altcoins This past Monday morning Ethereum soared to a new all-time high, surpassing $4,000 for the first time. The upward trend of the altcoin king shows a growth of over 450% since the beginning of the year. While many altcoins continue to pump, bitcoin dominance (BTCD) has been sliding. Earlier this month, BTCD dropped below two long-term support levels.
However, momentous growth in the altcoin community has sparked excitement among investors. Within the booming crypto industry, Glassnode found that waves of investors seem to be moving Ethereum from centralized exchanges and platforms into the increasingly popular decentralized finance (DeFi) space.
The performance of other altcoins has also been noticeable as a part of the bullish season. Cardano (ADA) hit a new high of $1.83 on May 9. This came almost a month after the developer’s showcased their upcoming work throughout Africa.
Dogecoin has been blowing up the news as well. From being the first crypt currency to fund a space mission to Elon Musk’s SNL performance implications, the meme-inspired altcoin’s performance is on everyone’s radar.
Visa adds value to the Ethereum economy
Last month, some big news from Visa Inc. revealed that it plans to settle transactions in USD Coin (USDC) by using the Ethereum network.
(Excerpt) Read more at finance.yahoo.com ...
As I write this, Bitcoin is down 3%, and gold is down 1%.
Strange, since BC and gold are supposed to be the monetary antidote for inflation.
Investing in stuff that has real value and is backed up with hard assets like infrastructure, machinery and real estate is so yesterday.
So new crypto appear out of nowhere, adding to the aggregate “monetary” base of them. And why is that not like some central bank inflating the money supply, by printing new $20s?
PING!
(If anyone wants to be on the crypto ping list, pm me)
Perhaps because like stocks or bonds, regular currency is paying for them?
In before “Tulip-mania” is invoked!
I moved coins from my underperforming Ox into Etherum.
ETH is currently at $4,091.31. I’ve seen predictions it will clear $10,000 this summer.
Buy it. Buy it now.
A quick look into the token’s issuing authority, Internet Computer, described it as a “blockchain-based cloud computing project” that proposes to build an open, public network. But the biggest takeaway for traders was the involvement of high-profile institutional players in the project.
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ICP.
Down 24% as I type this. It went nuts. $75.00 a coin. Now $309.
Too volatile.
How's ETH 2.0 coming along? When that comes out, I expect it will go over $10k
So if someone contracted to pay 1 ICP now they have to shell out 4 times as much to settle. That sounds real exciting.
PING
If YOU would like to be on a CRYPTO PING LIST, please pm me.
The Crypto Ping List covers the following:
Bitcoin
Ethereum
Other coins built on the Ethereum blockchain
mining
etc.
Thanks! For it - or ag'in it, it'll be a wild ride.
—”And why is that not like some central bank inflating the money supply, by printing new $20s?”
Not a problem with cryptocurrencies; “there is no there there”
G. Stein knew all about it.
Nothing goes up every day... but crypto in general has continued to rise.
Hard to say what the future holds, but great buy!
I continue to HODL some BTC, as well as far more ETH and many positions in lesser known coins.
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