@degenutz@fundstrat@BitMNR The news of clarity act, and not yields.
However passive yield impacts $ETH movement. About 60% of stable coins are issued on ETH as the L1.
Passive yields —-> clarity ——> massive money influx in stable coin —-> ETH benefits.
Passive yields are at the core of it.
The plot thickens:
On Friday, at 8:24 AM ET, there was a sudden surge in buying volume in S&P 500 futures as $325 million worth of longs were purchased.
This is the same exact timestamp that $760 million worth of oil shorts were taken.
Just 21 minutes later, Iran's Foreign Minister Araghchi said the "Strait of Hormuz is declared completely open."
By 12:45 PM ET, S&P 500 futures had surged to a new record high with this $325 million trade profiting +$50 million in 4 hours.
That's +$50 million over the same exact timeline as oil traders made +$70 million on shorts.
What is happening here?
@KobeissiLetter@grok whats the comparison of stablecoin marketcap of ETH compared to Solana. Which one would you prefer if you have to pick one and which is likely to dominate this space ?
@BMNRBullz@grok when fundamentals are at an ATH, How come the price of ETH is so low. When can we see the price following fundamentals and with these numbers where would you put the price of ETH