Ethereum basks in the glow
MOVERS
8am EST 2nd April 2021
Crypto: Biggest price rise
EOS
10.03
Equities: Biggest price rise
TQQQ
2.50
Bitcoin
$59,417.18
Crypto: Biggest price loss
FIL
-4.92
Equities: Biggest price loss
EWZ
-1.61
XRP
$0.57
Crypto: Biggest vol increase*
TUSD
354.59
Equities: Biggest vol increase*
GDX
-45.25
Tesla
$659.94
*Volume bought in USD over the past 24 hours on the Uphold platform
WHAT'S UP
ETH Hits $2,000
The world’s second-largest crypto crossed $2,000 earlier today. As of 8:10 a.m. (EST), Ethereum was $2,002, trading up 3.9%.
ETH's all-time high, reached in February, is roughly $2,050.
Billionaire Mark Cuban likes ETH as do institutions, such as Grayscale (Coingape).
WHAT'S DOWN
Some Scorchers Grab Cold Shower
Taking a look at the Top 20 coins today, there are some high-flyers whose wings have been clipped.
Filecoin (FIL) has soared 120% over seven days; but it dropped 8% over 24 hours as of Friday at 8:30 a.m. (EST). FIL fell below $200. At last check it was $199.
Theta (THETA), up 200% in the past month and 2% in the past one day, is in the midst of a bad week – it has declined 7% since last Friday.
Tron (TRX) had a tremendous first quarter, rallying 250%. At No. 19, TRX fits solidly, if not all that prominently, in the Top 20, with a market capitalization of $6.5 billion, some $600 million more than No. 20, VeChain (VET).
TRX kicked off Q2 by popping, at one point yesterday, 20%.
As of this morning, however, TRX had declined 1.5% over 24 hours.
WHAT'S NEXT
Possible XRP Contingency Scenarios Contemplated
An April 1st- timed joke made the rounds in Asian crypto markets yesterday – but, lest anybody remain even slightly, momentarily fooled, the SEC definitely has not settled its case against Ripple.
But some worst-case scenario contingency planning is underway.
Speaking with CNN's Julia Chatterley on her morning First Move podcast yesterday, Ripple CEO Brad Garlinghouse was asked directly whether, if Ripples loses the case, some form of replacement for XRP could emerge in the U.S.
"That certainly could be part of the solution," Garlinghouse said (AMBCrypto).
TANGENTS
A Quarter’s Worth Of Major Crypto Impressiveness
Taking a quick glance at the quarterly performance of the CoinDesk 20, there is, as fate would preordain it, a bottom-dweller, and it was Bitcoin Cash. And even it was up 56% over the first three months of 2021.
The top performer was Cardano. ADA rose 560%. A climb like that doesn’t come easily, nor does it just happen overnight, although there were a couple of sharp upturns, such as the day, March 18, that ADA hit its all-time high of $1.48. For the most part, though, quarterly gains came steadily, day by day.
