ETH is trading mid $3250s now and nothing can stop it. There is a DEFLATIONARY vortex happening now in ETH, following the London Fork, which has produced excessive burn. Coupled with gas fees, you are now looking at ETH deflation at -3.2%. While all of you clamor for the next JPEG file NFT to place inside your hard drives, demand for ETH is at record highs, with volume in value outpacing BTC for the first time ever.
Into this chicanery, I like crypto stock derivatives like BTBT, FTFT and HVBT — but I also like gold because even Peter Schiff deserves mercy.
Overall however, markets are a calamity, with strong selling in small caps and concentration of wealth in large. Nothing more can be said about this, other than we have a profound sickness in many of the popular trading stocks and the idea of getting more than 1 or 2 days of continued upside is somewhat foreign, unless you’re long larger capped names.
Which begs the question: if larger capped stocks are easily trending — why do we keep chasing small?
I’ll answer that in the next blog, fucked faces.If you enjoy the content at iBankCoin, please follow us on Twitter