Another day, another cryptocurrency rally that investors must speak.
Bitcoin (BTC 1.64%)),, Ethereum (Ethn 2.79%))And Dogecoin (DOGE 0.83%)) Be among the three cryptographic tokens with megacapitalization up today. At 2 p.m., these three tokens jumped 3.6 %, 4.5 % and 4.2 % compared to 4 p.m. HE yesterday.
With today’s movements, Bitcoin has once again brought closer (around 3 %) to a new historic summit, and Ethereum and Dogecoin continue to evolve in the right direction for long -term bulls.
What is interesting is that the typical correlation that we have found between risky assets (actions) and cryptographic assets has collapsed to a certain extent in recent times, and this is certainly perceptible today, the Three main stock market indexes liability at the drop at that time. By writing. Here is why these three cryptos outpears so many asset classes today.
A range of catalysts that make things happen
Bitcoin, Ethereum and Dogecoin are often considered as the “three large” cryptos among traders, with three of the largest stock market capitalizations in their respective niches. Bitcoin is often considered as a reserve of value, Ethereum as a means of taking advantage of the development of decentralized financial applications and intelligent contracts, and Dogecoin as a representative of more speculative meme active ingredients. Consequently, everyone will generally have their own drivers who will move the needle on a given day.
Bitcoin’s decision today, and to a large extent in recent weeks, has a lot to do with the comments of President Donald Trump. Trump presented himself as the most pro-Crypto candidate in history and was elected partly thanks to various promises made regarding the creation of a national stock of digital assets. This promise seems to be realized, Trump announced on Thursday that he had asked his team to explore this question more. Of course, as the largest (and most important) cryptocurrency in the world, Bitcoin will most likely be the one who will benefit the most from this directive.
Other cryptocurrencies such as Ethereum and Dogecoin could certainly benefit from this announcement, but there seem to be other specific news to the tokens to which investors pay particular attention when it comes to these projects.
For Ethereum, the founder Vitalik Buterin proposed plans for scaling the Ethereum network and incentives for developers and layers of layer 2 to rely on Ethereum and to allocate part of their costs in Ethereum, this Who could stimulate demand for the token (and potentially lead to a lower quantity over time via combustion). These projects are certainly welcome for many investors who have deplored the traditionally high underperformance gap between the two largest cryptocurrencies in recent years.
The increase in the valuation of Dogecoin continued to rely on the rhetoric of Elon Musk (and its effectiveness initiative of the Ministry of the State) and other favorable political winds also. This week’s increase, which continued until Friday, seems to be mainly motivated by the interest in Doge following the launch of the US official website for government efficiency. It remains to be seen to what extent a significant fundamental activity results from these otherwise exogenous catalysts, but it is clear that the status of dogecoin as a speculative primary active to negotiate remains intact with the movements of this week.