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Tuesday Trades: 2021 For Ethereum?

Bitcoin closed January 25, 2021, at $32,274 per BTC. We’re down 10% in the last 7 days and up 11% since the year began.

Tuesday Trades

Good morning. Reports of some universities, corporate getting some Bitcoin while Galaxy Digital predicts 2021 as the highlight year for Ethereum.

Welcome to Tuesday Trades, part of our new series: BitPinas Daily. We will look at the price of Bitcoin, Ethereum and the major cryptocurrencies. Crypto is global, but sometimes news that matters happens while we sleep. So we bring to you what’s happening in our space here and abroad. 

Market Price as of January 26, 2021:


Bitcoin closed January 25, 2021, at $32,274 per BTC. We’re down 10% in the last 7 days and up 11% since the year began. This is 23% below the previous all-time high of $41,940, which was hit on Jan. 8, 2021.

Bitcoin’s market capitalization stands today at $603,422,019,631 which is 61% of the entire cryptocurrency market. The entire crypto market, by the way, now has a market cap of $977,934,197,543 (-1.5%).

On the table above, there’s the cryptocurrency SLP. If you wonder what that is, check out this article: Playing Axie Infinity vs Minimum Basic Salary in the Philippines.


Rothschild Investment Adds to Grayscale Bitcoin Holdings

Rothschild Investment Corporation has increased its position in Grayscale Bitcoin Trust, which is now worth $975,000 as of Dec. 2020. The institution first bought Bitcoin in 2017 but exited. They began buying again in 2019.


Harvard, Yale, Brown Endowments Have Been Buying Bitcoin for at Least a Year: Sources

University endowments are money or other financial assets donated to academic institutions. Ian Allison from Coindesk writes that U.S. universities like Harvard and Yale have all been buying crypto directly on exchanges. “A lot of endowments are allocating a little bit to crypto at the moment” Ian’s sources said.


Another Public Company Adopts Bitcoin as Treasury Reserve Asset

DeFi on Jeopardy


Big Investors Stacked Up Ether

The number of Ethereum whales (those holding 10,000 ETH and up) has jump to a 13-month high according to data from Glassnode. Of the 1,103 addresses, 35 of them just joined this year while 75 joined in mid-November. 

Photo for the Article - Tuesday Trades: 2021 For Ethereum?

Ether is currently changing hands at $1,323.43

ETH is Growth Asset Says Galaxy Digital

For Mike Novogratz, 2021 will be the year when Ethereum becomes “the investment darling of institutions.” His firm Galaxy Digital is launching ETH-focused funds next month. It’s pricing will be drawn from Bloomberg’s Galaxy Ethereum Index while the assets will be in the custody of Gemini.

Note that the CME Group will launch its ETH futures product on Feb. 7.

“We consider ETH to be a growth asset; investing in ETH is similar to investing in a basket of early-stage, high-growth technology stocks that provides investors exposure to the explosion of next-gen smart contracts and decentralized applications,” Galaxy Digital said, as reported by The Block.

What else is happening

This article is published on BitPinas: Tuesday Trades: 2021 For Ethereum?

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