1. Market Wrap: Bitcoin Breaks $34K as Ether Futures Interest Jumps $350M in a Day
Higher-than-average spot volume, even for the past month, is helping push bitcoin’s price upward at a time when traders are plowing into ether futures at a quick pace to open 2021.
2. Ethereum: The Last Bastion for Yield
In the legacy financial world, yield has dried up. Yields on U.S. Treasury bonds have never been lower. The 10-year Treasury bond now offers you a less than 0.9% return. At around 2.1%-2.3%, AAA corporate bonds aren’t doing a whole lot better.
3. JPMorgan Predicts Bitcoin Price Could Rise Over $146K in Long Term
Investment banking giant JPMorgan has called a long-term bitcoin price target of over $146,000 based on the assumption that the cryptocurrency will grow in popularity as an alternative to gold, Bloomberg reports.
4. Bitcoin Retail FOMO Brings a Heap of ‘Kimchi Premium’ to S. Korea
Price premiums for bitcoin (BTC, +3.48%) on South Korean exchanges have hit two-year highs, indicating retail investment interest in cryptocurrencies is surging in that country. However, analysts and traders warn that certain market players could take advantage of arbitrage opportunities, resulting in short-term price volatility.
5. Most Important Crypto Regulation Yet? Banks Can Treat Public Blockchains Like SWIFT and ACH
Yesterday, the Office of the Comptroller of the Currency released Interpretive Letter 1174. The letter allows banks to participate as nodes in “independent node verification networks” (which you might better know as blockchain networks) as well as use stablecoins for payments settlement.
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January 6, 2021
