“When everyone becomes overly bullish, the market enters ‘euphoria’. And it generally indicates a ‘top-signal’ in a market cycle. However, today let’s indulge. I want us to take a stroll down Bull Street—because big things are happening….and they’re happening fast.
Here’s my case for why the exuberance today might be…rational.
- Elon Musk is in
- Institutional FOMO
- The Coinbase IPO
- The Bitcoin ETF
- DeFi is Here To Stay
- Celebrity NFTs
- The Money Printer
- Full Penetration“
See Also: Bitcoin Sets Fresh Record Above $50K Pushing Yearly Gains to 69%
See Also: MicroStrategy Files to Offer $600M in Notes in Order to Buy Yet More Bitcoin
See Also: Coinbase Opens Waitlist for Ethereum 2.0 Staking
“Evolve’s bitcoin ETF was conditionally approved on Tuesday to trade on the Toronto Stock Exchange.
It’s a promising sign if there are no issues with launching a bitcoin ETF in Canada. … The U.S. regulatory framework tends to be a lot more in line with things that happen in Canada.
The approval follows the OSC’s approval of Purpose Investment’s bitcoin ETF on Thursday. Both ETFs have a management fee of 1%, falling just shy of Europe’s cheapest bitcoin exchange-traded commodity from Wisdom Tree, which charges 0.95%.”
“The rebranded Libra network aims to come out with an initial product around the end of this quarter, with help from Fireblocks and First Digital Assets.
Fireblocks and First are providing the digital plumbing to allow financial service providers such as banks, exchanges, payment service providers (PSPs) and eWallets to plug into Diem on day one. It will be integrated, via Fireblocks and First, with Diem Association members like Spotify, Farfetch, Lyft, Uber and Shopify.
The streamlined project has bent to the will of regulators and operates on a strict permissioned basis with a specific onboarding process to become a diem virtual asset service provider, or VASP.”
“For the first time in its 250-years long history the renowned auction house Christie’s will be auctioning a digital artwork on its own. Christie’s will be selling “THE FIRST 5000 DAYS” by prolific digital artist Beeple.
This historic event marks a significant inflection point for both the digital art and the fine arts industry, bridging the apparent gap in the global recognition for digital art.
Christie’s is proud to be in the vanguard of this exhilarating movement.”
“The roadmap is divided into three main stages. The current phase is the Rococo testnet environment, where developers can test mechanisms to communicate between various Polkadot parachains, its analog of shards.
The Rococo testnet was launched in August 2020, but the component features have yet to be fully completed. Once details like dispute resolution and approval voting are completed, the Polkadot codebase will finally reach feature completion.
The next stage will be holding a vote to enable parachains on Kusama, Polkadot’s “canary network.” Kusama can be considered as a middle ground between a testnet and a mainnet. Once the parachains on Kusama are stable, and all audits are completed, an on-chain vote will be triggered on Polkadot to introduce parachain auctions.
There are no indications of the precise timelines for these milestones. There also appear to be issues with the Rococo testnet’s stability. For example, one of its parachains has been stuck on block 1036, which suggests that there has been a significant stability incident for the testnet.
The latest updates to the Rococo testnet are indicating the necessity of further amendments to the technology.”
“Nexus Mutual has a very aggressive roadmap for 2021, Karp said, aiming to sell over $1 billion worth of cover spread across at least 30 protocols.
Nexus started out focused on providing protection against risk and potential bugs in the smart contract code of decentralized finance (DeFi) projects. Recently, the startup announced it was extending its community-based offering to cover users for hacks and losses incurred at centralized exchanges like Coinbase, Binance, Kraken and Gemini.”