Many layers to the crypto onion
Another layer 1 doing better than okay, even with all its flaws, boding well for other layer 1s
After much deliberation and pondering, and reading, and listening, am more convicted that it all be like the Internet development, only faster, bubbles w/i bubbles, out of which fruits of revolution shall emerge
must do stuff and no way it be too late yet, so as to collect more gold and wager on silver
zerohedge.com 's bottom line ...
If Bitcoin gets to $100k (or something in that region), gold at anything below $5,000 would be a substantially better risk reward trade, in our humble opinion.
bloomberg.com
Ether Reaches Record After Visa Move, Mark Cuban Comments
Olivia Raimonde
Ether, the world’s second-largest cryptocurrency, rose to a record high as the rally in digital assets continues to broaden beyond Bitcoin.
The digital token for the Ethereum network gained 6.2% on Friday and reached as high as $2,144 on Saturday. It has nearly tripled this year, and first topped $2,000 briefly on an intraday basis in February. Bitcoin was little changed Friday after more than doubling this year.
“The latest backing from Visa Inc. appears to be giving the bulls a new reason to persist in their stride,” said Konstantin Anissimov, executive director at cryptocurrency exchange CEX.IO.
Visa said this past week that its payments network will use USD Coin to settle transactions over Ethereum, which has helped boost sentiment. Also, billionaire entrepreneur Mark Cuban’s comments about owning the digital asset and that it’s closest “ to a true currency” have increased interest, in addition to the ongoing upgrade of the network, according to Greg Waisman, co-founder and COO of the global payment network Mercuryo.
The token has mirrored the gains in Bitcoin over the past year amid a flood of stimulus aimed at boosting the global economy during the Covid-19 pandemic. Critics warn that crypto is a speculative bubble that will likely burst.
Crypto Coin Outperforming Bitcoin Is About to See Supply Reduced
Ether has a market value of about $240 billion, compared with about $1.1 trillion for Bitcoin, according to data from CoinMarketCap.com.
“We’re now really breaking higher and that will very likely attract buying activity,” said Julius de Kempenaer, senior analyst at StockCharts.com. “Ether is gaining in relative strength versus Bitcoin.”
— With assistance by Vildana Hajric
(Updates prices and chart.)
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