If you thought that a short Holiday week would mean less news, you couldn’t be more wrong. From big picture macro and stock action to the wildest crypto week in years, this week has (already) seen it all.
9. Let’s start in traditional markets where, for the first time in history, the Dow hit 30,000
8. What was behind that news? Part of it was another successful vaccine trial. Part of it was more clarity around the presidential transition. But some also thought it was, in part, Wall Street being comfortable with Biden’s Treasury Secretary choice: Janet Yellen.
7. The crypto folks meanwhile argued that Yellen’s focus on economy recovery was likely to mean less concern around inflation and more of the type of policy that makes Bitcoin look even more appealing to investors
6. Speaking of Bitcoin appealing to investors, my goodness is this thing on a tear
5. In fact, it’s not just bitcoin. After a few weeks of trying, ETH hit the 524,000 minimum stake to trigger the next step of their transition to ETH2.0, slated to begin Dec 1
4. Along the way, capturing an absolute ton of attention and reminding everyone why Ethereum remains the default smart contract chain
3. Even some of the 2017 blockchains had wild weeks - suggesting that while the run up has been largely institutional, retail may be on their way back again
2. Indeed, it feels like there is some serious pent up demand out there
1. The thing about demand is, it needs supply. Otherwise…well… Number go up.