The S&P500 Was Officially More Volatile Than BTC This Month
Plus some big interest in digital asset tokenization and crypto custody
Happy Friday Blockfolians!
You read that subject line right. Stocks were more volatile than the asset that can’t get approved for an ETF because of volatility. Well, that and manipulation - but since the Fed is literally injecting “infinite” cash into the markets the manipulation claim seems a little hypocritical as well. We digress.
Anyway, according to St. Louis Fed data, this month the S&P500 was officially more volatile than bitcoin.
This certainly validates what many of us have been feeling - which is that the back and forth in the market probably tells us less about whether we’ve hit a bottom or not - and more about the fact that right now, no one knows how to price anything.
The Wall Street Journal @WSJBreaking: A new bull market has begun. The Dow has rallied more than 20% since hitting a low three days ago, ending the shortest bear market ever. https://t.co/06YS0XqWGP
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Highly Relevant Reading
The Coinbase Commerce platform has processed more than $200 million in transactions since launching in 2018
An aspiring CME director thinks the exchange should issue its own token as well as mine bitcoin
At least one US-based bitcoin mining firm has shut down due to recent price declines.
South Korea’s largest bank will reportedly be launching a crypto custody service
RealVision just released a new episode on bitcoin and crypto in the time of Coronavirus, featuring Tuur Demeester, Dan Tapiero, Plan B and more.
Jill Carlson argues that we would do well to avoid overly-close comparison’s to the 2008 crisis in figuring out how to respond to our new world.
A Really Big Number We Should Be Paying Attention To
That’s the value of private placements HSBC put on R3’s Corda blockchain, with intention to eventually tokenize them.