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ethereum pumps

Okay, this might be official now. The world’s biggest asset-managing hog, BlackRock, totes digs Bitcoin.

Following the news it’s jumping into bed with US crypto exchange Coinbase, the US$10 trillion+ asset manager is at it again, announcing overnight it’s launched a spot Bitcoin trust for private institutions.

“Bitcoin is the oldest, largest, and most liquid cryptoasset, and is currently the primary subject of interest from our clients within the cryptoasset space,” wrote the US/global finance titan in a statement.

Is this a good thing? Like the Coinbase deal, potentially very much so for the price of BTC. That said, there’s probably some level of caution to consider regarding various market-manipulating tactics from faceless power brokers.

Among several others this morning, US entrepreneur/investor/YouTuber Anthony “Pomp” Pompliano is certainly upbeat about the news. Interestingly, he thinks it signals BlackRock’s potential interest in entering the crowded Bitcoin spot ETF race. Maybe it’ll be the one to finally receive the SEC’s “APPROVED” rubber stamp… if it actually has one.

So how’s the market reacting to the news today? Nothing’s heading too parabolic, but Bitcoin and Ethereum both seem to be maintaining most of the gains made over the past 48 hours or so reasonably well for now, if flattening out a tad.

Market sentiment, on the other hand, has really shot up since yesterday judging by the crypto Fear & Greed Index – the popular sentiment tracker. Nice to see it moving into a different shade of citrus for a change…

That could, however, also have something to do with Ethereum and its proof-of-stake Merge, which now has an even closer tentative date after another successful testnet completion.

Onto some daily price action…

 

Top 10 overview

With the overall crypto market cap at US$1.19 trillion and levelling out since this time yesterday, here’s the current state of play among top 10 tokens – according to CoinGecko.

There’s not much to say about the top 10’s movements over the past 24 hours, but we’ll grab a few short-term thoughts from some go-to Twitter-based crypto analysts.

The trader account called “John Wick”, aka @ZeroHedge, isn’t loving the fact Bitcoin has again been rejected at about US$24.5k. For some bullish bias, he’s targeting a daily close, in a few hours’ time (EDT), above that level.

@Roman_Trading also isn’t too positive for a further upswing just at the moment… which has been his overriding bearish narrative so far this year…

So who’s actually feeling positive then? Dutch trader Michaël van de Poppe is seeing a bit of sunshine ahead…

 

Uppers and downers: 11–100

Sweeping a market-cap range of about US$9.4 billion to about US$504 million in the rest of the top 100, let’s find some of the biggest 24-hour gainers and losers at press time. (Stats accurate at time of publishing, based on CoinGecko.com data.)

DAILY PUMPERS

• Ethereum Classic (ETC), (mc: US$5.7 billion) +7%

• Celsius Network (CEL), (mc: US$1.05 billion) +3%

• Nexo (NEXO), (mc: US$509 million) +3%

• Hedera (HBAR), (mc: US$1.83 billion) +2%

• Zcash (ZEC), (mc: US$1 billion) +1%

 

DAILY SLUMPERS 

• Lido DAO (LDO), (mc: US$1.4 billion) -7%

• BitDAO (BIT), (mc: US$786 million) -6%

• Monero (XMR), (market cap: US$2.88 billion) -5%

• Fantom (FTM), (market cap: US$990 million) -5%

• Arweave (AR), (market cap: US$741 million) -4%

 

Around the blocks

A selection of randomness and pertinence that stuck with us on our daily journey through the Crypto Twitterverse…

https://twitter.com/fomocapdao/status/1557709797553840128

And lastly… the NRL meets GameFi. For the full story on this one, check out our latest catch-up with Illuvium co-founder Kieran Warwick…

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