Chart of the Day
Strong institutional interests may be behind the current ETH rally, which has just propelled the price to a new all-time high near $1,840. The surging gas fee on the network may have deterred retail investors, but it didn’t stop institutional investment. Inflows of nearly $200 million poured into Ether last week in anticipation of the launch of ETH futures contracts on CME.
Talk of the Town
A tale of two realities. Two roads diverged in the staid world of corporate treasury, and Tesla — Tesla took the one less traveled by, and that has made all the difference. Its $1.5 billion investment into Bitcoin is already up more than 30%, which is more than we can say about the company’s car-selling business. However, Tesla’s shares edging up more than 1% on the news, together with Bitcoin’s strong rally, did not impress experts in corporate treasury management, who have long before ruled out Bitcoin based on its massive volatility. Will Tesla’s move prompt further regulatory guidance, or will it fail to inspire like-minded followers?