• Bitcoin initiated another leg up late on Friday and tapped $23,500 but was stopped in its tracks and has returned to familiar ground.
• Most altcoins have charted more impressive gains, led by Avalanche, MATIC, OKB, Dogecoin, and others.
• It was last week when the primary cryptocurrency skyrocketed from $21,000 to a multi-month high above $23,000.

The cryptocurrency market has seen some significant gains over the past 24 hours, with alternative coins leading the way. Bitcoin has remained largely stable, rising to $23,500 before being halted and returning to the familiar $23,000 mark.

Avalanche, MATIC, OKB, and Dogecoin have all seen significant gains over the past day. Avalanche, in particular, has seen a 14% increase in value, bringing it to its highest level since early December. MATIC, OKB, and Dogecoin have all seen gains of over 8%, while other altcoins have seen more modest increases.

The primary cryptocurrency, Bitcoin, has seen a much more subdued rise over the past week. After a dramatic 40% increase in the first two weeks of 2021, Bitcoin has settled into a steady climb. Last week, the asset rose to $23,800, its highest level in four months. However, this was met with immediate bearish sentiment, leading to a minor correction and a return to the $23,000 mark.

Overall, the cryptocurrency market has seen some positive momentum in the past 24 hours, with alternative coins leading the way. While Bitcoin has seen a steady rise in the past week, it remains to be seen whether the asset will be able to break through the $23,500 barrier and continue its climb. Should it do so, the entire market could be in for a major surge in the near future.

• Ethereum has seen a bullish start to the new year, with ETH prices rallying over the past few weeks.
• The decentralized computer network is close to reaching 100 million Ethereum addresses, indicating an increase in adoption.
• Macroeconomic data has had a positive effect on asset valuations across the board, with crypto prices strengthening their correlation with stock prices.

The start of 2021 has been an exciting one for the cryptocurrency space, with Ethereum (ETH) leading the charge. The second-largest cryptocurrency by market capitalization has seen its price rise significantly over the past few weeks, creating an overall bullish sentiment in the market. But this is not the only news that is helping to boost Ethereum’s momentum; the network is close to reaching a major milestone of 100 million Ethereum addresses.

The rise in Ethereum’s price has been largely attributed to the influx of institutional capital into the market. This has been driven by the release of a number of new products and services, such as the launch of Ethereum futures on the Chicago Mercantile Exchange (CME) and the increasing number of DeFi protocols. As more investors enter the market, the demand for Ethereum has grown, leading to an increase in its price.

But this is not the only factor contributing to Ethereum’s success. The network is close to reaching 100 million addresses, a major milestone that indicates growing adoption. An address is a unique identifier that is used to send and receive Ethereum transactions. This means that the number of users on the network has increased significantly over the past few months, as more individuals and institutions join the space.

The rising demand for Ethereum has also been helped by the improving macroeconomic environment. The US stock market has continued its new year rally, with the S&P 500 Index and NASDAQ Composite showing signs of recovery. This has been matched by crypto prices, as the strengthening correlation between crypto prices and stock prices indicates crypto’s maturity and adoption at this stage.

In conclusion, Ethereum has seen a very bullish start to 2021. The rise in its price is largely due to the influx of institutional capital into the market, as well as the increasing number of Ethereum addresses. This is a clear indication of the growing interest and adoption of the network, as well as the strengthening correlation between crypto prices and stock prices. With Ethereum close to reaching the 100 million address milestone, it looks like the network is on track for a successful year.

• Michael Saylor, the co-founder and executive chairman of American business intelligence firm MicroStrategy, believes that institutional adoption is one of the first drivers of Bitcoin’s global store of value status in the coming years.
• Michael Saylor sees Bitcoin becoming a global store of value by 2031.
• He believes that the value of Bitcoin will be driven by the global desire to protect wealth and escape government intervention.

Michael Saylor, the co-founder and executive chairman of American business intelligence firm MicroStrategy, recently discussed his view on where Bitcoin (BTC) will be in the next eight years. In a recent interview with Cory Klippsten, the founder and CEO of Swan Bitcoin, Saylor outlined his thoughts on how Bitcoin will be used and how it will come into play.

Saylor believes that institutional adoption is one of the first drivers of Bitcoin’s global store of value status in the coming years. He sees Bitcoin becoming a global store of value by 2031, driven by the global desire to protect wealth and escape government intervention. He believes that the value of Bitcoin will be driven by the global desire to protect wealth and escape government intervention, and the adoption of Bitcoin will become increasingly mainstream.

Saylor also noted that the current financial system is made up of a number of different entities, such as banks, governments, and corporations, and that people are increasingly looking for alternative solutions that can provide greater control over their money. He believes that as people become more aware of the advantages of Bitcoin, such as its censorship resistance, decentralization, and immutability, its demand will continue to rise and its price will grow.

Saylor also pointed out that the Bitcoin network is constantly evolving and improving, and that its infrastructure is becoming more secure, efficient, and reliable. He believes that this will be a major factor in its adoption by institutions, as they will be more confident in its security and scalability.

Finally, Saylor believes that the Bitcoin network will become increasingly accessible to individuals, as more and more exchanges, wallets, and services become available. He believes that this will lead to greater liquidity and utility for the digital asset, and that it will be easier for individuals to access and use it.

In conclusion, Michael Saylor believes that Bitcoin will become a global store of value by 2031, driven by institutional adoption and the global desire to protect wealth and escape government intervention. He believes that the Bitcoin network is constantly evolving and improving, and that its infrastructure is becoming more secure, efficient, and reliable. Furthermore, he believes that greater accessibility to the Bitcoin network will lead to greater liquidity and utility for the digital asset, making it easier for individuals to access and use it.

• A recently published crypto study found a strong correlation between the “kimchi premium” and international remittances to China.
• The study claims Chinese traders are exploiting the Kimchi premium, but this behavior is just part of a free-market economy.
• The study’s characterization of the cross-border Bitcoin trade and recommendations miss some key economic foundations.

A recent crypto study conducted by Incheon National University and the Bank of Korea is generating a lot of buzz. The authors of the study discovered a strong correlation between the “kimchi premium” and international remittances to China. This “kimchi premium” refers to the persistently higher Bitcoin prices in South Korea compared to other countries. The study suggests that Chinese traders are exploiting the Kimchi premium, but many economists argue that this behavior is part of a free-market economy.

The study’s characterization of the cross-border Bitcoin trade and recommendations miss some key economic foundations. According to the study, Chinese traders are using arbitrage strategies to buy Bitcoin in South Korea when the price is high and then sell it in China when the price is lower. This behavior is then characterized as unfair, exploitative, and profiteering.

However, this behavior is not necessarily exploitative or unfair. It is a common practice in a free-market economy and is known as arbitrage. It is a perfectly legal and legitimate practice. Arbitrageurs take advantage of price differences in different markets and are used to stabilize prices across different regions.

The study also fails to recognize the role of the Chinese government in this phenomenon. The Chinese government has implemented strict capital controls on its citizens. These capital controls make it difficult for Chinese citizens to move money out of the country and make it difficult for them to purchase Bitcoin in foreign markets. Thus, Chinese traders must resort to arbitrage in order to acquire Bitcoin.

The authors of the study also fail to consider the role of Korean exchanges in this phenomenon. Korean exchanges are well-known for their high liquidity, low fees, and good customer service. These factors make Korean exchanges an attractive choice for international traders. In addition, Korean exchanges have also been known to offer generous discounts and promotions to international traders.

It is important to recognize that the “kimchi premium” is not necessarily exploitative or unfair. It is simply the result of a free-market economy. Chinese traders are using arbitrage strategies to take advantage of the price differences between different markets. This behavior is perfectly legal and legitimate. However, the Chinese government’s capital controls and the role of Korean exchanges are important factors to consider in understanding this phenomenon.