Crypto stays cool

Concerned but not panicked – but definitely spooked – that sort of describes global equities today. Asia and European stocks fell. As of 7:15 a.m. (EST), U.S. futures were in the red.

Crypto, on the other hand, was showing remarkable resolve, all things considered.

Bitcoin crept 1% higher over 24 hours to get to about $57,200.

Second-largest-coin Ethereum is climbing anew and apart, relative to BTC, on a weekly basis. ETH surged 9.8% over the past seven days (versus BTC’s 1.4% rise). ETH is back above $4,500, albeit only slightly, having gained 4% since yesterday.

Meme coins are popping: Shiba Inu (SHIB) is back on the verge of overtaking Dogecoin (DOGE) for the tenth spot in the CoinGecko ranking of largest coins by market capitalization, pushing Avalanche (AVAX) into 12th; although, AVAX is actually up 8% today. SHIB? It’s up 33%, helped by its Kraken listing.

After rocking a slew of record highs last week, metaverse-related coins have cooled off considerably.

The Sandbox (SAND) and Decentraland (MANA) are both down about 5%. SAND and MANA are the 40th- and 41st-largest coins, respectively.

Last week was marked by absolute meta mania. On Nov. 25, SAND hit an all-time high of $8.40. That same day, MANA hit its ATH, of $5.85.

And we can't forget Gala (GALA). Like SAND and MANA, GALA is a token tied to a blockchain-based project that reimagines recreational experiences. It too hit an ATH last week. GALA, 43rd-largest coin, is down 6% today.

Shares of Twitter Inc. (TWTR) traded lower Monday on the announcement that CEO Jack Dorsey was stepping down because he felt it was time for the "founder-led" era to conclude and the passionate-veteran-engineer-led era to begin.

Parag Agrawal, Twitter's current CTO, swaps out the T in that title for an E, effective immediately, setting off a debate in the cryptosphere as to what's in store as the social media behemoth expands its already massive footprint, tip-toeing into digital money like a rhinoceros trying not to be noticed at a baby shower. Dorsey's digital money stance couldn't be clearer. He's a Bitcoin maximalist. Agrawal might not be.

"The undercurrent of the conversation is whether Agrawal is a Bitcoin maximalist like Dorsey or more coin agnostic,” Decrypt said.

Agrawal is said to be point man on bluesky, Twitter's decentralized social media protocol project; members of bluesky's working group, handpicked last year by Agrawal, do not have a strong BTC bent, according to TechCrunch.

The University of Wyoming’s School of Energy and Resources is set to host a virtual Bitcoin Mining Town Hall today at noon (EST) as the Cowboy State looks to lasso a larger share of the global hashrate, about one-third of which is now in the U.S.

"The Bitcoin Senator," Cynthia Lummis (R-Wyo.), a staunch crypto proponent, will provide opening remarks.

Apparently, Wyoming's energy providers are being inundated with inquiries regarding Bitcoin mining, according to a Jackson Hole-based BTC mining advisor and town hall organizer, Amanda Cavaleri, writing in Bitcoin magazine.

Wyoming wishes to host 5% of the U.S. Bitcoin mining hashrate by the next halving, expected in May of 2024. Currently, it has 0.7%. State leaders and industry members are stacking selling points, including weather (usually cool with low humidity), tax policies (exemptions galore) and a generally welcoming regulatory regime.