The big news keeps on coming in Cryptoland. Elon Musk has taken time out from grilling the BBC to help enable crypto and stocks trading on the eToro platform, via Twitter “cashtags”.

Also, Ethereum has made a strong move above US$2k since the Shanghai/Capella (Shapella) upgrades took place yesterday, and Bitcoin is travelling along very nicely around US$30,300 at the time of writing.

And yep, there’s plenty more happening, too…

 

Crypto news: Twitter and eToro; PPI; London Stock Exchange

• Twitter has partnered with trading app eToro to expand the functionality of its “$” cashtags and enable users to buy and sell stocks, crypto and other financial assets. Cashtags? They’re like hashtags, only using an $ as the prefix – like this: $BTC; $ETH; $ASS.

Per a CNBC report, an eToro spokesperson said cashtags will be expanded to cover “far more instruments and asset classes”. Reportedly, if interested in a stock or crypto token, you’ll be able to click on a “view on eToro” button that takes you to the eToro site where you’ll be able to buy or sell.

Well, that’s the idea anyway. At the time of writing, the crypto cashtags don’t yet appear to be enabled.

• PPI (Producer Price Index) data has landed in the US of A. As Stockhead‘s very own non-fungible Eddy Sunarto reports in today’s Market Highlights update, “US producer prices fell in March by the most since the start of the pandemic, signalling an easing in inflation. The producer index or PPI rose by just 2.7% from a year ago, the smallest gain in more than two years.”

Fed pivot and crypto bullrun hopefuls… light one up, because this is another piece of info to stuff in your hopium pipe. It helps, too, that the US dollar is on a slumping trend. Can it find support and a strong bounce back up soon? Hardcore gold and Bitcoin bugs will likely be hoping not.

• The London Stock Exchange is reportedly teaming with Global Futures Options to start offering the UK’s first regulated trading clearing in Bitcoin index futures and options derivatives. You know, just in case you didn’t have enough fresh crypto-adoption news today already.

The date of the product launch hasn’t been announced yet, but the indications are that it could kick off in Q4 this year.

 

Top 10 overview

With the overall crypto market cap at US$1.31 trillion, up 0.6% since this time yesterday, here’s the current state of play among top 10 tokens – according to CoinGecko.

Yes Cardano (ADA) is well up today, and DOGE and others, but it’s Ethereum (ETH) that stands out in the majors today.

The leading crypto that isn’t Bitcoin answered the question of whether the “Shapella” upgrade would be an immediately bearish event with a resounding pfffffffft! Which means no.

In fact, up more than 5% over the past day, and nearly 8% for the week, ETH has breached the US$2k psychological level and flying at altitudes it hasn’t seen since last August.

Shapella, in case you needed a recap, is the pastiche Ethereum upgrade on the blockchain’s execution (Shanghai) and consensus (Capella) layers. The main thing you need to know there is that it enables stakers of ETH to withdraw their staked deposits for the first time.

Plenty of Twitter-residing crypto analysts seem bullish about major cryptos today… and they’re not the only ones.

 

Uppers and downers: 11–100

Sweeping a market-cap range of about US$9.55 billion to about US$439 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.)

PUMPERS

• Radix (XRD), (market cap: US$833 million) +31%

• Arbitrum (ARB), (mc: US$1.82 billion) +20%

• Aptos (APT), (mc: US$2.32 billion) +9%

• Rocket Pool (RPL), (mc: US$895 million) +8%

• Optimism (OP), (mc: US$770 million) +7%

• Axie Infinity (AXS), (mc: US$1 billion) +6%

• Curve DAO (CRV), (mc: US$861 million) +6%

• GMX (GMX), (mc: US$704 million) +6%

 

SLUMPERS

Not much going on here today…

• ImmutableX (STX), (market cap: US$1 billion) -0.5%

• LEO Token (LEO), (mc: US$3.16 billion) -0.5%

 

Around the blocks

Some pertinence and randomness that stuck with us on our morning moves through the Crypto Twitterverse.

https://twitter.com/naiivememe/status/1645851398528208896

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