Why is the market becoming more and more optimistic about BTC?

It's been another record week for U.S. markets, with both the Dow and S&P 500 hitting new all-time highs on Friday. In fact, it was the fifth time in the past six sessions that the S&P 500 hit a record. For the Dow, it was the second time in the past week. Gains were fairly broad, with industrials, retail and technology stocks all working together to drive the market higher. To put all of this record into perspective, consider -- Bank of America research found that investors have put more money into stocks in the last 5 months than they have put into the previous 12 years -- a total of $576 billion U.S. dollars, not $452 billion.

The hottest stock in the market right now is Coinbase, North America's largest cryptocurrency exchange, which plans to go public via a direct listing on April 14. While the record was set for the week, trading was subdued again, with volume 28% below the 30-day average. All told, the Dow climbed 2% for the week, the S&P 500 climbed 2.7%, notching its best week since early February, and the Nasdaq rose 3.1%.

Distributed routing protocol Syntropy abandons Polkadot ecology and chooses Cosmos for Web3 development: on December 27th, distributed routing protocol Syntropy announced that it will stop its validator program on the Substrate-based Amber Chain and decide to switch from the Polkadot ecosystem to the Cosmos ecosystem . Syntropy explained that its development team faced multiple challenges in building with the Substrate framework and ultimately determined that the Cosmos blockchain was the best fit for its use case. [2022/12/27 22:10:55]

The U.S. dollar index has closely tracked changes in U.S. 10-year Treasury yields this week. The rise in yields earlier on Friday pushed the DXY up from yesterday's low of 92.00 to an intraday high of 92.40, before yields turned lower and the DXY retreated and is now trading around 92.20. Overall, it was a disappointing week for benchmark index bulls, who continued to track losses on renewed optimism about stocks.

A final word on cryptocurrencies – digital assets continue to maintain a bullish sentiment. The only difference recently is that Alt Coin took the lead, and Ethereum made a new history and approached $2,200. Bitcoin has lagged behind its contemporaries lately, but continues to consolidate around the $60,000 price range. If the bullish sentiment persists over the weekend, BTC could break the previous ATH again. A cumulative market cap of more than $2 trillion is another shot in the arm for cryptocurrencies this week.

The first round of voting for ApeCoin DAO special committee candidates ended: On December 22, Yat Siu, president of Animoca Brands, said that the first round of voting for ApeCoin DAO special committee candidates had ended and 5 nominees were selected, namely @veratheape, @ degentraland, @nftgerry, @Herb_Castillo and @BoredApeG, the second round of voting will start on December 23rd and end on December 28th, and finally three people will be selected to officially become members of the ApeCoin DAO special committee. [2022/12/22 22:00:49]

And while we're talking about cryptocurrencies, today's feature infographic (above) is also about cryptocurrencies. According to research by Ark Invest, investors are holding onto Bitcoin for longer and longer. By holding on to assets rather than selling them, it reduces the supply of coins available in the market at any given moment, driving prices up. This suggests that market participants see the long-term value and potential future returns that the asset holds.

And before we move on to some other weekly stats, here is the weekly and YTD data as usual for the market (Chart 1).

Solana Co-creation: The latest outage is caused by misconfigured validators confusing the network and unable to judge the correct fork: Jinse Finance reported that Solana co-founder Anatoly Yakovenko explained the recent outbreak of network outages in the latest interview. He revealed the cause of the outage One reason is that a misconfigured validator confused the Solana network and was unable to determine which fork was the correct one, eventually bringing the network down. Anatoly Yakovenko emphasized that a Solana network outage does not put any user's funds or program state at risk, because Solana has 2,000 different validators and about 3,400 different replicas of the network, so in the event of a serious failure, there are a large number of Backups are optional. Anatoly Yakovenko claims that as long as one of these replicas survives, the entire network can be effectively restored.

Since its launch in 2020, the Solana blockchain has seen five major outages, three of which occurred in 2022, each due to a bug in Solana's code or network. Anatoly Yakovenko believes that the current problems with Solana can largely be attributed to human error. This is still software written by humans, and Solana is quite complicated. (decrypt) [2022/10/8 12:49:29]

The LUNA official Reddit sub-forum has been locked and cannot post content: Golden Finance News, the LUNA official Reddit sub-forum has been locked and cannot post content, and new users will not be able to use it. The current latest post has been closed two days ago, and there are no new users. Create any thread. [2022/5/15 3:16:42]

Figure 1

U.S. President Joe Biden wants to raise the corporate tax rate to 28% to help pay for jobs and infrastructure plans. Treasury Secretary Janet Yellen said she was working with other G20 countries to agree on a minimum tax plan. The Conservative Tax Foundation found that the average corporate tax rate in the G20 in 2020 was 27%, with rates in most countries in the 20-30% range (Figure 2).

Figure 2

The price of private equity is getting higher and higher. As such, the average deal today is expected to be priced at a premium relative to the past decade on an EV/EBITDA metric. In general, EV/EBITDA shows the relationship between a company's total value and its earnings, and is often seen as a complex associated indicator of the price-earnings ratio, which is used to view the company in the way of an acquirer. The chart below highlights (Figure 3) the ballooning valuations in private equity deals over the past decade.

The NFT game World of Cryptooids has launched the pledge function: According to official news, the P2ENFT game World of Cryptooids has launched the pledge function. [2022/4/8 14:13:37]

Figure 3

Decentralized finance has been growing by leaps and bounds, with the latest figures for the Total Volume Locked (TVL) for the asset class crossing the $50 billion mark. It has to be said that Nyctale's latest DeFi monthly report (Figure 4) shows that the growth rate in March was relatively slow - marking a slight increase and decline in investment/usage.

Figure 4

According to the Forbes annual list of the world's billionaires, in the 35th issue of the list released yesterday, 493 new entrants were added to the list, setting a record high - there is a new billionaire on the list every 17 hours, Among them, 210 are from mainland China and Hong Kong, and 98 are from the United States. Newcomers include Chen Zhiping, China's first range hood billionaire, Ernest Garcia III, founder of Carvana, and Stéphane Bancel, CEO of Moderna. The total net worth of the 2,755 billionaires on the list is US$13.1 trillion, up from US$8 trillion in the 2020 list (Figure 5).

Figure 5

Data collated from the U.S. Bureau of Labor Statistics reflect the jobs with the highest annual median salaries in each U.S. state (Figure 6). Dentists in Massachusetts and pediatricians in Pennsylvania have the highest median salaries anywhere in the country, at $208,000 a year each. Many careers in medicine are among the highest paid, including anesthesiologists, dentists and doctors. The highest-paid professionals in each state typically earn at least $200,000, with only four states or territories making less than $200,000.

Figure 6

The latest "World Economic Outlook" from the International Monetary Fund (IMF) sounded optimistic about the global economic recovery. Lifting the January forecast, the latest forecast sees 6% in 2021 (up 0.5 percentage points) and 4.4% in 2022 (up 0.2 percentage points) after a historic contraction estimated at -3.3% in 2020 ( Figure 7).

Figure 7

A week before its initial public offering (IPO), the largest U.S. crypto exchange, Coinbase, reported significant user growth in the first quarter of 2021 -- the cryptocurrency exchange claims an estimated 56 million verified customers in the first quarter of 2021 -- which This is a new increase of 13 million since the fourth quarter of 2020 (Figure 8). The company offers a variety of products such as an advanced trading platform, a crypto wallet for retail investors, a savings account for institutions, and even its own dollar-backed stablecoin.

Figure 8

For the first time in seven years, New York City lost its title-zce as the billionaire capital of the world. In 2020, the "Big Apple" was replaced by Beijing, and the number of billionaires in Beijing increased by a net of 33 (Figure 9). Beijing now tops the list with 100 individuals worth $1 billion or more, narrowly ahead of New York's 99. This finding comes from the 2021 Forbes World's Billionaires List, which revealed that a quarter of its 2,755 members live in just 10 cities, with more than 10% of residents living in just four Chinese metropolises.

Figure 9

Faisal Khan Author

Jeremy Translate

Jeremy Editor

Tags：

SOL