POKKET: Today’s Market Commentary (February 10)
BTC & ETH stable after the single largest pick up in Bitcoin price in history yesterday. BTC $46400 and ETH $1755. Movers are OGN +47%, MATIC +42%, DENT +37%, PNT +34%, RSR +23%, BRD HT SNX +17%, and on and on… rotation from Alts to BTC look reversed this morning.
The FRB of St. Louis published a report titled “Decentralized Finance: On Blockchain-and Smart Contract-Based Financial Markets”, noting DeFi’s benefits of accessibility, composability, efficiency and transparency. Meanwhile, India is close to penning the final law to ban private cryptocurrencies in the country.
Curve is making its way onto Polkadot, looking to take advantage of multi-chain tech to get around the “the gas fees are too damn high” ETH.
In traditional markets SPX, FAANGs, Gold all zzzz while DXY continues lower to now below 90.5 after further debates on Biden stimulus.
Check out today’s interest rates at POKKET.