10th September 2021 > > Ethereum.

tl;dr

I certainly own Ethereum.

Market Snap

Market Wrap

Perpetual futures funding rates for BTC across all major exchanges are mostly at a very neutral 0.01%. No squeeze in either direction is imminent. The violence we saw 2 days ago has got all the leveraged players worried.

Occasional Series – Canadians who are more woke than Justin Trudeau

Aha, you are thinking, that simply isn’t possible.

I present Zahra Sultani, who hails from Afghanistan but now lives in Canada. She has described the Taliban as her “brothers”.

Sultani is so painfully woke she supports one of the most overtly racist and misogynistic governments in the world (Iran is a close competitor), simply because they are not a western liberal democracy, most of which have often been led by white, middle aged, cis-gender men.

Though, unlike Justin Trudeau, those white, middle aged, cis-gender men do not regularly go to parties dressed in blackface.

Just for added fun, Sultani is Canada’s Minister for Women and Gender Equality.

Curious Cryptos’ Commentary – BTC price predictions

I do try to keep these price predictions balanced, but right now all I am seeing are positive views and comments.

The latest is from Standard Chartered who are calling for a $100k price for BTC in late 2021 or early 2022.

They also predict that when BTC reaches $175k – nearly 4x the current price – ETH will have rallied 10x the current price.

ETH makes up over 40% of my crypto holdings. No self-respecting crypto portfolio should lack exposure to ETH (NOT investment advice).

Curious Cryptos’ Commentary – The inevitability of ETH

Or perhaps not.

All the developments around ETH 2.0 have undoubtedly contributed to its outperformance vs BTC in recent times.

Just yesterday, $1bn of ETH was moved between some whale wallets, plus an additional $320mm to Binance, presumably for the purpose of switching or cashing out. Perpetual futures rates on ETH – like BTC – are now neutral following the recent crypto carnage.

I am a long-term supporter of ETH, on account of its built-in functionality that allows developers to do so much more than what one can do with BTC.

In the short term the move to ETH 2.0 is fraught with risk and danger. Vitalik and his team are clearly more than just competent, and I remain comfortable with my nearly 50% allocation to ETH.

But I do suspect that if I had more than $320mm in this one asset, I might also be looking to lighten up.