FIL Presents Compelling Upside
ETH Gaining Relative Momentum
Given the success of Solana and Bitcoin's persistent dominance in this bull market, many have been quick to write off ETH. There is no doubt that ETH faces its own set of challenges, including a complex modular stack and potential cannibalization by Layer 2 solutions, which, while crucial to ETH's scaling roadmap, can sometimes fragment liquidity and users. Despite these issues, ETH continues to advance along its extensive scaling roadmap. In our view it appears to be under-owned at this stage in the cycle and should be buoyed by a couple of near-term catalysts poised to boost usage and speculative interest.
One such catalyst is the much-discussed Dencun upgrade, and the other revolves around pending spot ETF applications, a topic we've covered thoroughly. While we haven't adjusted our odds of an ETF approval—still seeing it as a coin flip—we anticipate speculative momentum leading up to the SEC's decision on ARK’s ETF application due in May, irrespective of the outcome.
Regarding approval, our stance is that a spot ETH ETF should be approved based on criteria similar to those applied to BTC ETFs, yet there's no guarantee the SEC won't find a politically motivated reason for denial, possibly citing concerns related to DeFi or staking....Reports you may have missed
INFLOWS RESUME On Monday, market sentiments were rattled by a surprisingly strong manufacturing PMI figure, marking the first expansionary reading in 18 months. This led to a rise in rates, with risk assets across the board experiencing selloffs amid renewed inflation concerns and fears that the Federal Reserve might need to implement further measures to cool the economy. However, in our crypto comments video on Tuesday, we outlined a couple...
Adding RON and IMX As a Different Flavor of ETH-beta and Gaming Exposure (Core Strategy Rebalance)
MARKET SHRUGS AT HOT CPI The latest Consumer Price Index (CPI) data indicated a hotter inflationary environment than forecasted for February. Despite the surprise in the numbers, market participants appeared largely unmoved, suggesting that the potential impact had already been factored into their calculations prior to the release. This resilience reflects a broader sentiment that a rates-driven selloff, in response to the CPI figures, is not a significant near-term risk....
RESEND: Bitcoin ETF Equilibrium Price Dynamics: ETF likely to drive significant rise in daily demand
BY POPULAR DEMAND, WE ARE RE-SENDING THIS BITCOIN PRICE IMPACT OF SPOT ETF REPORT FROM JULY 24, 2023 The Bitcoin spot ETF was finally approved. And we are seeing the surge in price of Bitcoin because of attractive supply and demand dynamics.We received multiple requests to resend this report from July 24, 2023 which looked at supply and demand dynamics if a spot ETF was approved.In short, we believe a...
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