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Cryptocurrency prices are soaring this morning, continuing their rally from late last week. The highly-watched Crypto Fear & Greed Index, after falling into the “extreme fear” zone last month, is now poised to break out of “fear” completely as positive sentiment returns.
the bitcoins the price climbed above $40,000 again today and is now up from the same time last month. Ethereum and its biggest rivals are also climbing, all up between 2% and 5%.
However, it is the smaller coins that drive the market higher. Ripple XRP is up a staggering 15% since this time yesterday as its legal battle with the Securities and Exchange Commission drags on, while dogcoin challenger shiba inus is up 22%. Dogecoin itself added 6%.
Now read this: They Made Millions on Luna, Solana, and Polygon – Crypto’s Boom Beyond Bitcoin
Bored monkeys unmasked 🕵️
BuzzFeed Backlash: On Friday, the creators of the Bored Apes Yacht Club (BAYC) were revealed by BuzzFeed as two men in their thirties from Florida, Greg Solano and Wylie Aronow, using the aliases Gargamel and Gordon Goner, respectively. The report sparked an outcry from the crypto community who see it as “doxing” (including Solano and Aronow), with many saying there is no journalistic or public interest need for the identities of the pair are known.
Detective: However, BuzzFeed claims he simply reported information that was already public and found the pair while searching public business records for Yuga Labs, the company behind BAYC. He discovered that Yuga Labs had an address affiliated with Solano, then discovered other public records that linked Solano to Aronow.
Why is this important: “The backlash is not surprising, but it betrays a profound ignorance of the function of journalism and a legitimate belief that crypto should be covered on its own terms,” Los Angeles Times associate editor Jeff Bercovici wrote. , in a Twitter thread.
Too big to hide: The BAYC Collection recently became the most expensive group of NFTs, with the cheapest now costing almost $300,000 and giving the Bored Apes a market capitalization of $2.8 billion. It was reported last week by Axios Yuga Labs is in talks with venture capital firm Andreessen Horowitz about an investment that would value it at $5 billion. Last month, famous socialite Paris Hilton showed off her Bored Ape on The Tonight Show with host Jimmy Fallon who bought one himself last year for around $216,000.
The bottom line: The crypto community and internet communities generally place a high value on anonymity. However, the more you do, the more you are worth and the more influence you have, which increases the level of interest in who you are. That Satoshi Nakamoto, the mysterious creator of Bitcoin, has remained anonymous all this time is nothing short of a modern miracle and he only achieved this by walking away. No one should expect to remain anonymous forever.
Now look at this: How Wall Street learned to love bitcoin
The C-word 🤬
📛 Jamie Dimon, the longtime CEO of JPMorgan who antagonized the bitcoin and crypto community for years, said he no longer calls cryptocurrencies “currencies.”
🗣️ “Currencies have rules of law behind them, central banks and tax authorities,” Dimon said in an interview with the Greek newspaper. Ekathimerini. “I call them crypto-tokens.”
👨⚖️ Last year, during the massive October crypto boom, Dimon called bitcoin “worthless”. Dimon has repeatedly called for tougher crypto regulation and predicted that most cryptocurrencies will eventually be made illegal in most countries.
Now read this: The business case for bitcoin
The week ahead 🗓️
👀 Watch for these cryptocurrency and crypto-related events this week.
🎮 Take-Two Interactive Software, which publishes the Grand Theft Auto (GTA) series under the Rockstar Games label and last month bought mobile game maker Zynga, will report its fourth quarter results today. Open-world pioneer GTA about to enter the metaverse?
🐦 On Thursday, social media giant Twitter will report its fourth quarter results, its first since Parag Agrawal took over as chief executive from bitcoin enthusiast Jack Dorsey. Last month, Agrawal added support for non-fungible tokens (NFTs) to the platform.
📈 Thursday will also see the latest monthly report of the US Consumer Price Index fall, with economists predicting a 0.5% rise over the past month and 7.3% over the past year.
🏈 On Sunday, the 56th Super Bowl will be played at SoFi Stadium in Inglewood, California. Crypto advertisements are expected in abundance.
Now look at this: The Next Big Short—The Debt Supercycle