The Daily LEO #2: ETH2 Genesis in 7 Days, Positive Crypto Feedback Loops and BTC is the Best Performing Asset in the World
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ETH2 Genesis in 7 Days
The ETH2 deposit contract reached the staking threshold. 7 days after this launch requirement is met is when the ETH2 genesis occurs. This is big news for Ethereum and the entire crypto/DeFi space as we get closer to ETH2 and (hopefully) an exponential reduction in fees.
Positive Crypto Feedback Loops
@edicted wrote a great post that discussed positive feedback loops and how they’re playing out in the crypto space.
We’re seeing a culmination of several major factors which all lead to the next major crypto cycle. Post-BTC halving, ETH2, Alt season, Paypal and Greyscale.. even XRP’s latest rally.
How High Will The Price of Ethereum Go on This Run?
@scaredycatguide analyzed the ETH chart and came up with a few resistance levels for the price of Ethereum. As of this writing, his post was published 16 hours ago and he called the $625 resistance level perfectly.
The price of ETH bounced off this level late last night and has since returned to $600. Mitch’s next target is $825 resistance. Will we see this in the coming week as alt strength returns and ETH2 gets closer to launching?
BTC is the Best Performing Asset
Pomp Tweeted about BTC’s performance relative to the S&P500 and Gold. Bitcoin is clearly the winner here and it’s not just average investors anymore. Now it’s the institutions and major investors jumping into the space.
Bitcoin is currently tracking well ahead of the 2017 bull market!
@jrcornel writes about our progress in the current post-halving cycle for BTC. As we see the progress BTC is making in terms of price, we’re tracking above the expected trendline. Will we fall below this trendline? Match it directly? Or will we stay on this current trajectory and simply outperform all expectations for the BTC price in 2021?
@originate posted this great infographic that shows BTC’s market cap against the largest banks in the world. We’re seeing BTC flippen these old titans of traditional finance. Many call for BTC’s market cap to skyrocket beyond that of major assets like Gold some day which would give it an insane valuation. Just a matter of time? I think most of us agree on that.
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