POKKET: Crypto Market Update (April 23)
Asia is waking up to carnage as Bitcoin price -4% to trade dangerously close to $50k, now $51500, while ETH is struggling to hang on at +1.3% to $2400. Even the beloved DOGE is down 13% to 26-pennies.
Movers are COMP +16%, SRM +14%, APPC +12%, MKR +11%, GTO IOST -15%, OGN POLY HOT -13%, DENT -12%, and most are lower on the day.
US President Biden has proposed a capital gains tax for the wealthiest Americans to 43.4%, including a surtax, which places it higher than the top federal tax rate on wage income. This is essentially doubling the current rates of 20%; miss Trump yet?
Debate around the environmental-friendliness of BTC took place on Earth Day, as Square released a white paper on Bitcoin’s environmental impact, with data supplied from ARK, which Citi disagrees with.
Bitmex is now going to offer spot trading and custody in an effort to diversify away from derivatives.
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