“It’s been the Tesla of self-driving investment management,” Rosenblum said.
As for eos, Rosenblum pointed to eos creator Block.One’s $10 billion funding to build a new exchange infrastructure subsidiary, called Bullish Global.
Peter Chan, lead trader at OneBit Quant, told CoinDesk he’s concerned about DeFi’s continued success on Ethereum, which may be why alternative platforms like Eos are doing so well in digital-asset markets.
The second-largest cryptocurrency by market capitalization, ether , up 0.66% over the prior 24 hours.
Ether’s exchange volume, as tracked by CoinDesk Research, was holding its ground.
The last time ether volume surpassed BTC was a week ago, on May 4.
“We will be sensitive to any overbought downturns, noting that April’s breakout point is 50% below current levels,” she added.
The largest cryptocurrency was above the 10-hour moving average but below the 50-day, a sideways signal for market technicians.
While some may argue these tight price ranges give bitcoin increased “store of value” properties, the reality is that since April 16 bitcoin’s 30-day volatility has been rising.
Analysts are also keeping an eye on bitcoin’s dominance for a possible move upward.
“In general, I think BTC dominance has room to go up a bit as a correction against the current boom,” said Andrew Tu, an executive from quant trading firm Efficient Frontier.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.