There is some cautious optimism throughout markets but the big moves are in crypto, which is sizzling.
The most-compelling chart to me is ethereum
Ethereum
Ethereum is a decentralized, open source, blockchain-based distributed computing platform and operating system. A defining feature of Ethereum is its smart contract functionality, making it extremely popular.Ethereum dates back to 2014 and has since grown in popularity to stand as the second largest cryptocurrency by market cap.As a decentralized cryptocurrency network and software platform, Ethereum represents the most important and widely circulated altcoin. Of note, Ethereum also facilitates the use of Distributed Applications, or dapps. Ethereum possesses its own unique programming language, known as Turing Complete, which is used to build the dapps. Dapps in turn can be run on a peer-to-peer (P2P) network of virtual machines. These can be just about anything and are optimized to run on Smart Contracts, which are pieces of code that can execute a predetermined set of actions once a certain set of criteria are met. The Ethereum network’s native currency is called Ether, or ETH. ETH tokens can be used to pay for things inside of dapps or to receive payouts from smart contracts. They can also be traded off of the Ethereum network inside of cryptocurrency exchanges or OTC trading platforms. The Rise of EthereumEthereum dates back to 2013 when crypto researcher and programmer Vitalik Buterin proposed its utility. Its early development was subsequently funded by an online crowdsale, which took place in 2014.Ethereum ultimately went in July 2015 with 72 million coins minted. This accounted for roughly 65 percent of its total circulating supply at the time of writing.Like other cryptocurrencies, Ethereum has had a complicated past, resulting in splits and some controversy.For example, back in 2016, an exploited vulnerability in The DAO project's smart contract software caused the theft of $50 million worth of Ether.This led Ethereum to split into two separate blockchains. A newer and separate version became known as Ethereum (ETH), while the original chain continued to be known as Ethereum Classic (ETC).
Ethereum is a decentralized, open source, blockchain-based distributed computing platform and operating system. A defining feature of Ethereum is its smart contract functionality, making it extremely popular.Ethereum dates back to 2014 and has since grown in popularity to stand as the second largest cryptocurrency by market cap.As a decentralized cryptocurrency network and software platform, Ethereum represents the most important and widely circulated altcoin. Of note, Ethereum also facilitates the use of Distributed Applications, or dapps. Ethereum possesses its own unique programming language, known as Turing Complete, which is used to build the dapps. Dapps in turn can be run on a peer-to-peer (P2P) network of virtual machines. These can be just about anything and are optimized to run on Smart Contracts, which are pieces of code that can execute a predetermined set of actions once a certain set of criteria are met. The Ethereum network’s native currency is called Ether, or ETH. ETH tokens can be used to pay for things inside of dapps or to receive payouts from smart contracts. They can also be traded off of the Ethereum network inside of cryptocurrency exchanges or OTC trading platforms. The Rise of EthereumEthereum dates back to 2013 when crypto researcher and programmer Vitalik Buterin proposed its utility. Its early development was subsequently funded by an online crowdsale, which took place in 2014.Ethereum ultimately went in July 2015 with 72 million coins minted. This accounted for roughly 65 percent of its total circulating supply at the time of writing.Like other cryptocurrencies, Ethereum has had a complicated past, resulting in splits and some controversy.For example, back in 2016, an exploited vulnerability in The DAO project's smart contract software caused the theft of $50 million worth of Ether.This led Ethereum to split into two separate blockchains. A newer and separate version became known as Ethereum (ETH), while the original chain continued to be known as Ethereum Classic (ETC).
Read this Term up 12% on the day and trading at the highs. This is still within the range of the past month but combined with the series of higher lows since mid-June and that it's come on a mixed day overall for market sentiment, and there might be something here.
Crypto hasn't given off a great forward-looking signal for risk assets in the past few weeks but for much of the year it was the leader. Generally it was a few hours ahead of other markets and we're not quite seeing that today but a 12% move means that someone is piling into an extremely risky and volatile asset that's been beaten up this year.
The July high in ETH/USD is $1275 and I think we would need to spend some time above that to confirm it but there's a strong signal from crypto today.
Could it simply be buyers who were waiting for the Celsius bankruptcy
Bankruptcy
Bankruptcy or insolvency is a legal designation occurring when a company or entity are unable to repay debts. While associated mainly with business, individuals can also declare bankruptcy. Persons or companies can voluntarily declare bankruptcy, involving filings with courts by their own accord. This differs from involuntary bankruptcy in which debtors force individuals or companies into bankruptcy by filing a petition with the courts. Bankruptcy can only occur with a court filing. Of note, bankruptcy is a legal stat and once the petition is filed with the appropriate court, local and state laws vary greatly. Understanding the Different Types of Bankruptcy In the United States, bankruptcy may take several forms and can be referred to as Chapters 7 and 11, 12, and 13. Chapter 7 is a liquidation procedure, where all assets are sold, and the court oversees the distribution of the money to creditors based on their standing. Both businesses and individuals can file for chapter 7. Chapter 11 is a reorganization process where businesses can freeze their debts and continue to operate. In contrast, a method and procedure are negotiated through the courts to satisfy the obligations of the company. Meanwhile, Chapter 13 is called a wage earner plan and helps people attempt to restructure their debts to repay their debts. This can include some debt forgiveness by creditors or reduced interest rates or balances. Not all private persons are eligible for Chapter 13, high amounts of debt don't qualify, and the person must file Chapter 11 or 7. Many individuals opt for Chapter 13 over Chapter 11 or Chapter 7 because it helps them in avoiding foreclosure on their residence. The filing of bankruptcy is considered a last resort when businesses and persons have not been able to negotiate terms directly with their creditors.
Bankruptcy or insolvency is a legal designation occurring when a company or entity are unable to repay debts. While associated mainly with business, individuals can also declare bankruptcy. Persons or companies can voluntarily declare bankruptcy, involving filings with courts by their own accord. This differs from involuntary bankruptcy in which debtors force individuals or companies into bankruptcy by filing a petition with the courts. Bankruptcy can only occur with a court filing. Of note, bankruptcy is a legal stat and once the petition is filed with the appropriate court, local and state laws vary greatly. Understanding the Different Types of Bankruptcy In the United States, bankruptcy may take several forms and can be referred to as Chapters 7 and 11, 12, and 13. Chapter 7 is a liquidation procedure, where all assets are sold, and the court oversees the distribution of the money to creditors based on their standing. Both businesses and individuals can file for chapter 7. Chapter 11 is a reorganization process where businesses can freeze their debts and continue to operate. In contrast, a method and procedure are negotiated through the courts to satisfy the obligations of the company. Meanwhile, Chapter 13 is called a wage earner plan and helps people attempt to restructure their debts to repay their debts. This can include some debt forgiveness by creditors or reduced interest rates or balances. Not all private persons are eligible for Chapter 13, high amounts of debt don't qualify, and the person must file Chapter 11 or 7. Many individuals opt for Chapter 13 over Chapter 11 or Chapter 7 because it helps them in avoiding foreclosure on their residence. The filing of bankruptcy is considered a last resort when businesses and persons have not been able to negotiate terms directly with their creditors.
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