TL;DR

• BTC & ETH is up

• BTC underperformed ETH this week 

• Bitcoin dominance is up

• The hot coin we look at this week is JKL

Latest & Greatest 📰

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BTC & ETH Market Update 📈

Crypto is up this week, with BTC being up 10.2% and ETH up 6.8%:

Bitcoin dominance has increased this week, rising from 51.1% to a peak of 52.6%, and ending at 52.3%. Typically, as Bitcoin's price rises, investors begin moving capital into Ethereum and other altcoins, which are riskier assets. This shift causes Bitcoin's dominance to decrease, a trend observed over the past few weeks.

It’s going to be interesting to see whether this trend will continue in the short term, as capital in crypto tends to flow initially to BTC and then further out on the risk-curve, starting with altcoins like ETH and then into mid- or low-cap coins.

The Bitcoin halving just passed. If history is any guide, we can expect BTC dominance to continue rising before investors start seeking higher returns in altcoins. This typically starts with ETH, and then on to mid- and low cap coins. Other coins being moved into are typically “ETH killers” like SOL, AVAX and other other L1s. Yet ETH is still the king amongst altcoins, as price action this week also shows.

With BTC dominance increasing and the ETH price increasing less than BTC, the BTC/ETH ratio is trending upwards to 21.66 ETH per BTC, underlining that BTC continues to be king in crypto, but alts like ETH are gaining momentum.

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Hot Coin: JKL 🔥

In this week’s newsletter we dive into Jackal Protocol’s token with the ticker: $JKL.

The price action and volume is has been growing consistently, and doesn’t seem to stop any time soon:

What is the project about?

There are many decentralized file storage protocols on Ethereum, but Jackal is the only one available on the Cosmos ecosystem, with all the benefits coming from using the Cosmos tech stack.

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