Bitcoin (BTC) maximalists celebrated 14 years of pseudonymous developer Satoshi Nakamoto’s first mined bitcoin block on Tuesday, though few came to the party, with trading volumes dipping to lows last seen in early 2019.
Those party poopers at the Financial Times soured festivities by wishing happy birthday to a “giant Ponzi scheme”, though in fairness they were just quoting Francis Elliott, the former political editor of The Times.
But Elliot, whether he likes it or not, has a close connection to the creation of bitcoin; his January 3, 2009 article ‘Chancellor on brink of second bailout for banks’ is baked into the code of bitcoin’s first mined block.
Francis Elliot’s article, as seen baked into bitcoin (BTC) code
There wasn't much to celebrate on the day, with the BTC/USDT pair staying put at US$16,670.
Activity has picked up this Wednesday though, with 1.2% added to the pair so far to change hands at US$$16,850, encouraged by a positive session across the global equities markets.
Bulls will not attempt to break above US$17,000 or even US$17,100, where selling pressure will likely be encountered.
A quiet birthday for bitcoin (BTC) – Source: currency.com
Ethereum (ETH) has surged nearly 3% this morning, bringing the ETH/USDT pair to US$1,250, the highest price point since mid-December.
If the pair manages to sustain bullish momentum, we could see a move up to US$1,280.
Solana (SOL) remains far and away the strongest large-cap altcoin right now, having rallied over 38% week on week (WoW).
Litecoin (LTC) also remains at the top of the tables, having rallied 13% WoW, while Cardano (ADA) and Polkadot (DOT) are also faring well.
Lido DAO, feeling the goodwill from flipping MakerDAO as the largest decentralised finance (DeFi) platform by total value locked (TVL), is now up 45% WoW.
Global market capitalisation across the whole cryptocurrency space is currently US$820bn, while TVL across all DeFi platforms is slightly above US$39.5bn.
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