Green in the screen is a good day! Whilst we’ve been seeing more red in recent days, it’s a bit of a knee-jerk reaction with most taking it as a healthy correction — off the parabolic run-up we’d enjoyed. And this was not just a $BTC cavalcade. The moment Ethereum 2.0 hit the minimum 524,288 ETH to activate 2.0’s Beacon Chain, $ETH lost a tranche of support from the speculators selling on the news. A shrewd move considering the track record of Ethereum meeting self-imposed milestones.
MTD the trade would have pocketed you +62% (at its peak). Peanuts compared to Ripple which eclipsed that trade by over fourfold:
The reason? Well, nothing new. The proposition of $XRP as an investment is dubious given the monster of an overhang posed by many sources of liquidity, not least to mention one billion $XRP dumped into the market by the foundation’s escrow each month like clockwork. With the 55% supply depleted by 2022. Newbies will surely be attracted to the big name partnerships that the network has forged and this will have in turn…