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.