Diamond Hands

GB Market Commentary 12/11/2021

by Will Morris

The market has remained flat since yesterday’s sell-off and recovery. The highest moving coin in the top 100, by market-cap is Decentraland, up a meagre 14%. While most tokens remain in the red.

Only 12.9% of Bitcoin Supply Remains on Exchanges, around the lowest levels in over a year. Indicating record-high prices haven’t prompted many people to sell. Most are content to HODL their Bitcoin. Glassnode says this is a sign that most expect the price to keep climbing.

51% of Generation Z and 36% of Millennials have said they would prefer to be paid their salaries in cryptocurrencies (research conducted by deVere Group). Group CEO Nigel Green stated: “They appear to trust an autonomous decentralized digital currency and payment system over a traditional system where legacy financial institutions and governments are in control.”

A cryptocurrency whale has moved $12 billion worth of XRP in a transaction that costs next to nothing to process thanks to the network’s low fees. According to data from the XRP Ledger, a total of $12.3 billion worth of XRP were moved in the transaction that cost $$0.0000157 to process.

Digital yuan use surges across China, as of Oct. 22, consumers have opened 140 million personal digital wallets with total transaction volume of about 62 billion yuan (US$9.7 billion).

Sotheby's will take ETH bids in real time for Banksy upcoming auction.