Market Update
Bitcoin touched yet another all-time high this week, this time in terms of Market Cap (USD). The big orange coin crossed US$2.12 trillion making it the 5th most valuable asset on Earth. Surpassing Amazon. The noise about bull markets starting and ending is exactly that, noise. We like to stick to what’s actually happening, institutional demand continues to rise, countries like Germany who sold their BTC at US$57k are licking their wounds and monetary policy around the world is loosening (RBA cut rates just yesterday).
As impressive as that is, the main story of the last fortnight has been Ethereum’s return to strength. In a massive way, ETH has almost doubled in price off the back of its major Pectra upgrade. ETH, while not everybody’s cup of tea, is increasingly becoming the destination for Real World Asset (RWA) deployments capturing 80+% of the market. RWAs include tokenised stocks, real estate, commodities, etc, allowing the transfer of ownership much faster and cheaper, with greater transparency.
As a final note, we recently said that altcoin season was feeling imminent with a focus on fundamental value accumulation rather than memecoins and that has largely panned out. We will never recommend investments, just highlight things we find interesting. One thing we’re keeping a close eye on is decentralised protocols that collect fees and trading volume, using tools like DefiLlama if you find yourself curious.
Crypto News
This court case could make your bitcoin profits tax-free
A judge says bitcoin is just another form of money, which means it could be exempt from capital gains tax – a decision that upends the Australian Taxation Office’s approach to taxing cryptocurrency and could open the door to millions in refunds.
Bitwise CIO says 'Bitcoin is king' but history favors a diversified crypto basket
Bitwise CIO Matt Hougan said that, while “bitcoin is king,” there’s a strong case for diversified crypto exposure — if history is anything to go by. Hougan drew a parallel with internet investing in 2004 — highlighting that, while Google was dominant, others outperformed.
Coinbase officially joins S&P 500, a major milestone for the crypto industry
U.S. based crypto exchange Coinbase stock ($COIN) jumped 24% last Tuesday as Coinbase bulls celebrated S&P's announcement that the stock would join the S&P 500, viewing it as a broader tide shift for crypto under the Trump administration.
Disclaimer: The information contained in this blog is general in nature and is provided for informational purposes only. It does not constitute financial, legal, or tax advice, and should not be relied upon as such. Block Earner does not guarantee the accuracy or completeness of any information presented. You should consider your own personal circumstances and seek professional advice before making any financial or investment decisions. Past performance is not indicative of future results. All investments carry risk.
