After last year’s continuous downfall, the crypto markets finally started getting some bids going into January. Bull trap, bear trap, echo bubble, dead cat etc. In general assigning labels to markets - or even life - phenomena is quite regressive. It forces the subconscious prejudices associated with the label onto the market instead of simply observing the market for what it is.
Is it a bird, is it a plane? Or just an echo bubble…?
Although risk assets have rallied for weeks, the total market capitalisation for altcoins has been flat since January 20th - demonstrating a lack of renewed retail bid. Capital is shifting from one narrative to the next, without any underlying belief that could see in a true bull market. The key is to be labelless and flow like water!
Total Crypto Market Cap: $1.109T (+33.93%)
DeFi TVL: $48.74B (+27.63%)
Stablecoins: $137.11B (-0.39%)
US Corporate Bonds, and Treasury Bills (T-Bills), the short-term U.S. government debt obligation backed by the Treasury Department with a maturity of one year or less, have been long dreamt as reality in our crazy blockchain world - but that just might be turning out to be reality!
Ondo Finance, the on-chain protocol focusing on institutional-grade financial products and services announced their three new Ondo Funds that allow stablecoin holders to invest in bonds and US Treasuries, making traditional capital markets more accessible to all investors.