Crypto at a glance
Ethereum continues to dominate the headlines, rising another three percent in the past 24 hours. It currently changes hands at around $ 3,300 – a 30 percent gain over that time last week. It now has a larger market cap than Mastercard, PayPal, and Bank of America. Will it continue the same way? Can it Really Flip Bitcoin?
CONTINUE READING: Could Ethereum Overtake Bitcoin?
There are a number of factors driving Ethereum’s recent surge. The use in DeFi and NFTs initially gave the use cases a new meaning. A number of commentators also point to the recent decision by the European Investment Bank (EIB) to publish its first sale of more than $ 100 million in digital bonds on the Ethereum blockchain. The move has led some to claim that the financial market is ready to adopt crypto technology. Will they prove right?
It’s less good news for Bitcoin, even though the still leading cryptocurrency continues to make gains. The asset hit $ 58,973.31 yesterday, its highest level since April 18, but has fallen to just below $ 56,000 today. Can it break out of this area? How much longer can it be between $ 50,000 and $ 60,000?
Considering the dominance of Ethereum, there is an unusually large amount of red. Only Binance Coin (BNB), Litecoin (LTC) and Doge currently fit in with it. Dogecoin is now the fifth largest cryptocurrency by market capitalization. Is the joke still funny?
All feedback on Crypto AM Daily in collaboration with Luno is welcome by email at James.Bowater@cityam.com
In the markets
The bitcoin economy
* For definitions and findings, see https://bytetree.com/insights/
Total market capitalization for crypto
The total capitalization of the entire cryptocurrency market at the time of writing is currently $ 2,266,546,755,997.
What Bitcoin did yesterday
We are closed yesterday, May 3rd, 2021 at a price of $ 57,200.29 – from $ 56,631.08 the previous day.
Yesterday’s daily high was $ 58,973.31 and the daily low was $ 56,590.87.
Around this time last year, Bitcoin’s price closed the day at $ 8,897.47. In 2019, it closed at $ 5,768.29.
Bitcoin market capitalization
Bitcoin’s market capitalization at the time of writing is $ 1.051 trillion. In this context, the market capitalization of gold is $ 11.345 trillion and Alphabet (Google) is $ 1.586 trillion.
The total spot trading volume reported by all exchanges in the past 24 hours was $ 57,060,186,611. High volumes can indicate that a significant price move has stronger support and is more likely to last.
Bitcoin’s price volatility over the past 30 days is 53.01%.
Fear and greed index
The market sentiment is at 68.
Bitcoin’s dominance of the market
Bitcoin’s market dominance is today 47.45. The lowest dominance ever recorded was 9/37 on January 8, 2018.
Relative Strength Index (RSI)
The daily RSI is current 50.56. Values of 70 or higher indicate that an asset is being overbought and may be prepared for a trend reversal or a price correction. An RSI of 30 or less indicates an oversold or undervalued condition.
Convince your Nan: Soundbite of the day
“We are always looking for the most important payment methods and will continue to evaluate them in the future. But we have no immediate plans [cryptocurrency] is something we keep in mind. “
– eBay boss Jamie Iannone
What they said yesterday
Everyone has regrets …
In retrospect, it’s easy to say. But my uncovered signing bonus of $ 12,000 in 2017 would now be worth more than $ 250,000 if paid in #Bitcoin
– Sean Culkin (@ culkin22) May 3, 2021
eBay is considering accepting Bitcoin and other cryptocurrencies for payments.
– Pomp @ (@APompliano) May 3, 2021
Question of time?
A year ago, BTC was $ 5,000.
Now the ETH is at $ 3,000.
What if …
– Alex Svanevik @ (@ASvanevik) May 3, 2021
Crypto AM Editor writes
Ethereum hits $ 3,000 with a market cap larger than Bank of America’s …
Ethereum approaches $ 3,000 as Bitcoin hits the gas …
Cardano works with Save the Children for humanitarian initiative …
HMRC, we don’t limit ourselves to crypto …
Binance jumps onto the NFT market …
Ethiopia is revising its education system through IOHK blockchain partnership …
Crypto AM: Longer reads
City AM Markets: What is Decentralized Financing (DeFi) from Aave …
Crypto AM: Conversation with James Bowater
Crypto AM: Market View
Crypto AM: Technically
Crypto AM: A Trader’s View with TMG
Crypto AM: Mixing in the Metaverse with Dr. Chris Kacher
Crypto AM: speak legally
Crypto AM: headlights
Crypto AM: Founders Series
Crypto AM: Industry voices
Crypto AM: Walk the Crypto on tiptoe with Monty Munford
Crypto AM: Definitely DeFi
Crypto AM Parliament Special
Part one of two – April 2021
Part two of two – April 2021
Five-part series – March 2021
Part four …
Part five …
Crypto AM: Recommended Events
Crypto AM DeFi & Digital Inclusion Online Summit with the support of the Cointelligence Fund
May 20, 2021
May 25-26, 2021 – Dubai
June 3-5, 2021 – Miami
Roundtable from Crypto AM City of London
Crypto AM DeFi & Digital Inclusion Summit
Crypto AM Awards 2021
September 29th to 30th, 2021
It’s definitely tempting to get swept up in the excitement, but please keep these careful words in mind: do your own research, invest only what you can afford, and make good decisions. Hopefully the indicators included in this article will help with that. Note, however, that the content of this article is for informational purposes only and is not intended to be investment advice or any form of recommendation or invitation. City AM, Crypto AM, and Luno always recommend that you seek your own independent financial advice before investing or trading in cryptocurrency.
All information is correct as of 08:30 GMT.