The excitement in the Bitcoin market has not slowed a week on as the major coin has reached a new yearly high of near $11,700 having jumped from the doldrums of $9,200 only two weeks ago. This rally looks to be the real deal as it has been matched by other metics and it has shown strength and power pushing through the different levels.
Bitcoin being on a good run is always a good thing for the cryptocurrency market, and despite an altcoin season in the brewing, Bitcoin being back is only being seen as a good thing as the talk of new all time highs starts to permeate the conversation again.
Speaking of altcoins season, Bitcoin’s biggest ‘competition; in the altcoin market, Ethereum, turned five years old this week which led to a lot of looking into the history of the programable blockchain that pioneered smart contracts, and where the future will be for the coin heading towards ETH 2.0
Coinbase has also made the news this week as it announced that it would be looking into a number of cryptocurrency projects in order to determine if they will be listed on the major exchange. Some of these assets include Ampleforth, Band Protocol, Balancer, Blockstack, Curve, Fetch.ai, and a number of smaller projects.
BTC on a rally
Bitcoin had been threatening to make a move for some time as it became range bound at the lower end of the $9,000 mark for almost eight weeks. Bitcoin became a very boring asset in regards to being its usual volatile self.
This seems to spark off an altcoin drive as traders looked for more action, only for Bitcoin to come alive at the end of last week. Bitcoin managed to break its range, and push over the magical $10,000 mark only to keep going past $11,000 and make a new yearly high of close to $12,000.
This rally has many excited that Bitcoin is back to being its volatile best, but more than that, the coin has been promising a new all time high for some time now and this rally could be the one that takes it to these new heights.
Ethereum making its mark
Ethereum was one coin that was taking the interest when Bitcoin was so bland, but the coin grabbed the headlines because of its work in the DeFi space as well as its ETH 2.0 upgrade which is in the world.
With Ethereum turning 5 this week, the examination of how far the coin has come, and where it will go in the next five years has come into focus. Ethereum has promised much in its five years, but will it have the power and the upgrade to take it to new heights in the following five years.
Coinbase broadens its horizons
According to a Friday announcement, these assets include Ampleforth, Band Protocol, Balancer, Blockstack, Curve, Fetch.ai, Flexacoin, Helium, Hedera Hashgraph, Kava, Melon, Ocean Protocol, Paxos Gold, Reserve Rights, tBTC, The Graph, THETA, UMA, and WBTC.
Per the announcement, the assets are in a review process that includes technical and compliance analysis of the cryptos in question. Some of these assets might even require regulatory approval in some jurisdictions.
However, Coinbase highlighted that there are no guarantees that assets included in the review list would be listed.