Bitcoin And Ethereum Rebound But Bitcoin’s Dominance Wavers

The price of bitcoin (BITCOMP) and ethereum (ETH-X)has rebounded sharply over the weekend, climbing more than 10% overnight, following last week’s sell-off.

Bitcoin, Cryptocurrency, Virtual, Money

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Bitcoin, which had fallen more than 20% from its peak, rebounded 10% to trade near $53,000 this morning, while ethereum - which had held its ground better than bitcoin - is now trading just off record peaks after a similar jump in price.

The gains for the world’s largest two cryptoassets follow a tough sell-off last week which took some of the froth out of the market.

Nonetheless, a split between the two is starting to emerge. Last week the Bitcoin Dominance Index, which measures BTC’s market capitalization relative to the broader cryptoasset market, reached a low of 49.4% on Thursday, according to CoinMarketCap. At the beginning of 2021, it was at 70.7%.

Meanwhile, ethereum has risen from 11% to nearly 15%, since the start of 2021, while binance coin has also seen its share of the overall market grow steadily, from 0.7% to 4.2%. 

Binance launches new stock tokens for Apple and Microsoft

Binance has announced it will list three new stock tokens over the coming week, following the launch of similar ones tracking the performance of Tesla and Coinbase shares earlier this month.

Launching them today, Binance said it would create tokens for the two tech giants Apple and Microsoft, as well as Microstrategy, the business intelligence company.

Like the ones for Tesla and Coinbase (COIN), the tokens allow users to trade fractionalized units of the share tokens, with minimum trade sizing set at one one-hundredth of a token.

Binance said all three coins would start trading over the next few weeks, with the first one going live today.

The exchange said its stock tokens are “fully backed by a depository portfolio of underlying securities” held by German financial services provider, CM-Equity AG. The tokens will observe traditional stock trading hours.

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Disclaimer: This article should not be taken as investment advice, personal recommendation, or an offer of, or solicitation to buy or sell, any financial instruments. This material has been ...

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