POKKET: Today’s Market Commentary (January 21)

Looking at BTC & ETH purely on 24h returns looks undramatic, both about -0.5% lower. Intra-night however, both dipped with BTC touching as low as $33500, now trading $35500, while ETH hangs at $1360. Movers are RLC +21%, ENJ +18%, REN MANA +12%.

Total DeFi token market cap has reached $35B, or roughly 3.5% of total crypto market cap.

More rappers getting into the crypto game as Joe Budden is the latest to speak up, going on Pomp’s podcast discussing Bitcoin – worth noting he is sponsored by Cash App.

The French central bank is testing a CBDC again, on the SETL (boomer) blockchain.

Barclays private bank’s strategist called Bitcoin ‘almost uninvestable’, citing volatility; wonder if he advises the same for tech companies and fixed income? On the contrary, BlackRock has given two of its funds the green-light to invest in BTC futures.

Traditional markets had a boomin’ day with Biden inaugurated. SPX +1.4%, FAANGs +6.2% on the back of Netflix short-squeeze, pushing it up +17%. DXY 90.4, with Gold up a touch to $1870.

Check out today’s interest rates at POKKET.


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