Space Mission Aborted — May 10

Chart of the Day

What Monday Blues? If you thought the previous $2,500 all-time high (ATH) was the end of it, ETH proved that it has some fuel for yet another strong rally. The coin peaked at north of the $4,000 mark in the past 24 hours, easily smashing through its previous highs.

ETH’s price trajectory almost perfectly mirrors the total amount of ETH that is in exchanges’ wallets in the opposite direction. Decreasing supply of ETH available on trading platforms (under 19 million) coupled with increasing institutional demand could make for a promising and sustained bull market.

Talk of the Town

The Dogefather: Review & Summary. The effect which much-revered Technoking of Tesla, Elon Musk, has on his favorite memecoin DOGE is undeniable — his vocal support of the coin having spurred on significant price pumps in the past. His Saturday Night Live (SNL) appearance was expected to send DOGE to space. While the market reached for the stars, reality fell short of that by quite a bit. As expected, Musk’s appearance meant the show was filled with DOGE quips, but prices began dipping from $0.69 to $0.49 before his segment was over. Talk about an anticlimax.