The cryptocurrency market has continued its upward trend, with Bitcoin reaching nearly $83,000 before finding resistance at the psychological $80,000 mark. This marks another strong performance for the leading cryptocurrency, which has been steadily increasing in value over the past year.
Ethereum's value is also being reevaluated, with some analysts seeing it as infrastructure rather than ideology. This shift in perspective could lead to a new wave of investment and adoption for the popular blockchain platform.
Stablecoins have become increasingly prominent in recent months, with Tether holding $20 billion in gold and a projected market cap of $735 trillion by 2035. This growing presence has led some to question whether stablecoins are still 'crypto' or simply a new part of the global financial system.
The market is shifting towards monetary plumbing and assets closer to the real economy, with traditional finance entering crypto through the age-old strategy of undercutting prices. This could lead to increased competition and pressure on exchange fees, narrative premiums, and the idea that crypto-native firms deserve higher take rates.