Bankless ROLLUP: Bull Market Week 2 | Blackrock ETH ETF | WSJ vs Crypto
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Nov 17, 2023 Dive into the latest buzz around BlackRock's Ethereum ETF filing and its potential impact on the crypto landscape. Explore the contrasting narratives of institutional interest in Ethereum versus Solana, and dissect the market movements of popular cryptocurrencies. The discussion also touches on the ongoing tensions between traditional finance perspectives and crypto communities, alongside the media's portrayal of digital assets. Stay informed on the quirks and controversies shaping the future of cryptocurrency!
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Market Overview
- Bitcoin and ETH prices remained relatively flat this week.
- Most of the price action occurred with lower market cap coins.
MicroStrategy's Bitcoin Success
- MicroStrategy, led by Michael Saylor, has $1 billion in paper gains due to Bitcoin's price increase.
- Saylor's conviction in Bitcoin has paid off despite not perfectly timing his buys.
Grayscale Discounts
- Grayscale discounts are shrinking, signaling increasing interest in crypto.
- Shrinking discounts suggest buying pressure that could spill over into spot markets once they reach zero.