Bitcoin price breaks through 50,000, ethereum and cardano lag behind, these altcoins shoot off

The cryptocurrency market starts this week nicely colored green. Most of the top 100 crypto, including bitcoin (BTC), is in the plus this morning. A number of cryptos break out and several rates are 10% in the plus if not more. Total market capitalization this morning comes in at a staggering $2.45 trillion. We are slowly getting closer to the May peak. Large as well as small investors continue to accumulate:

Bitcoin

It seemed from the weekend that bitcoin might struggle to break through $50,000 for longer. Yet it happened late last night. The BTC price initially fell below $50,000 yesterday morning, but then slowly started to climb. Towards midnight, bitcoin suddenly made a significant jump and the price shot through from $50,380 to $51,750. Moveco.io has enough information. Bitcoin then continued to swing between $51,500 and $52,000 for the rest of the night. The last time bitcoin broke through $50,000 back in February, the price also encountered a small resistance around the current $51,700, but then shot straight to around $58,000. Despite the fact that bitcoin is picking up strongly, several altcoins are rising even faster, keeping the dominance below 40%.

https://youtu.be/QtfwAVKSWDA

Altcoin’s top 10

Ethereum (ETH), cardano (ADA) and binance coin (BNB) are lagging a bit today. Ether also made a big jump late last night, touching close to $4,000, but then corrected back down right away. Ether dipped back to $3,900 this morning where the price has been hovering since Friday, but is slowly climbing back to $3,950 at the time of writing.

Cardano also rose sharply last night. The ADA price jumped from $2.86 to $2.95. However, then ADA corrected back down and the price returned to $2.87. ADA is slowly rising to USD 2.90 this morning. We also see the same somewhat with binance coin. BNB briefly rose to a high of $508 from $495 late last night, but then fell back to $495. This morning, BNB takes another $500.

Ripple (XRP), on the other hand, has risen sharply in the past 24 hours. That is because the XRP price, just like bitcoin, did not immediately correct downwards last night. XRP was still around $1.25 Sunday morning and peaked at around $1.33 last night, up 6.4%. For now, XRP is holding up above $1.32. Dogecoin (DOGE) also shows a slightly more positive trend and rose from $0.30 to $0.31

Solana (SOL) had another massive rally last week, but corrected slightly lower on Sunday, slipping briefly to $135. From there, SOL started to rise again, and the price comes in at $146 this morning. That is not yet as high as Saturday’s ATH, but there may be a new record this week, however, the trading volume is starting to decrease considerably. Folm.io has enough information. Polkadot is the fastest climber in the top 10 largest crypto today. The DOT price was still at $32.2 yesterday morning and is at $34.5 this morning, an increase of 7.1%.

Hardest climbers top 100

Outside the top 10, we see several prices rising even faster. Amp (AMP), cosmos (ATOM), bitcoin cash (BCH), eos (EOS) and huobi token (HT) are all about 10%, in the plus today. FTX token (FT), algorithm (ALGO) and chainlink (LINK) are even 14% in the plus. Qtum (QTM) and fantom (FTM) are up more than 15% in the last 24 hours. Omg network (OMG) and filecoin (FIL) are both even 25% in the plus today. Quant (QNT) is currently the fastest riser on the market from the top 100. The QNT price is up 44% today and 85% compared to a week ago.

Behind the headlines: Russia in Myanmar, Peru’s new president and what Enjin means to the United Nations Global Compact

Behind the Headlines gives you expert perspectives on today’s headlines by telling you more than what happened, but also what it means. You can also listen to The Cipher Brief’s Daily Open-Source Collection Podcast, where you also listen to podcasts.

Jack Devine, Former Acting Director, National Clandestine Service, CIA

Cipher Brief Expert Jack Devine, a 32-year-old CIA veteran. Devine served as both acting director and co-director of CIA operations from 1993 to 1995. He is a founding member and chairman of The Arkin Group, which specializes in international crisis management, strategic intelligence and investigative research. Devine is the author of Spymaster’s Prism: The Fight Against Russian Aggression.

https://youtu.be/rJOGRUcBAQU

Russia’s multiple support for Myanmar is a microcosm of its strategy in Southeast Asia

In the months since Myanmar’s military coup in February, Russia and China have been the junta’s most powerful allies, but Russia has exploited regional instability to position itself as a third path between China and the West. While China had closer ties to the former government of Myanmar than to the military, it was also concerned about the government’s ties to the West and possible interference in its development efforts, especially the Belt and Road initiative.

Russia, on the other hand, does not depend on stability in Southeast Asia to the same extent as China and can instead take advantage of warring factions. Last month, on his first trip outside the immediate region since February, Myanmar’s junta leader Min Aung Hlaing went to Moscow to meet senior Russian defense officials instead of going to Beijing. Hlaing has reportedly visited Russia seven times in the past decade and has previously stated that more than 6,000 officers from Myanmar have studied at Russian military academies.

Responsible sales

According to data from the Stockholm International Peace Research Institute (SIPRI), Russia was responsible for nearly 40% of arms sales to Myanmar from 1999-2018, second only to China. SIPRI data further indicates that Russia has been Southeast Asia’s largest arms supplier for the past two decades, with Vietnam and Laos as top customers. But Russia offers the region more than weapons, and has promised Myanmar two million Covid-19 vaccines and help with its own vaccine production efforts. Uitleg tradingview can be found online.

Russia has also sought to expand free trade agreements between its Eurasian Economic Union (EAEU) and Southeast Asian countries, most recently urging Indonesia to join the deal. Last week, Russia’s foreign minister went even further into soft power efforts, meeting his Bangladeshi counterpart and agreeing to encourage Myanmar to engage in dialogue with Bangladesh over the Rohingya crisis.

Left-wing former teacher Pedro Castillo is declared president of a divided Peru, expected economic growth could play in his favour.

Peru, like many of its neighbors, has fought the triple and intertwined threat of Covid-19, social unrest and severe economic downturn. But in recent years, Peru has also been challenged by sharp dividing lines between its executive and legislative powers. Last November, Peru’s unicameral legislature voted to impeach then-President Martín Vizcarra, citing mismanagement of the pandemic and corruption, in a move that infuriated thousands.

Fraught elections

The June presidential elections were also fraught. Castillo’s right-wing rival Keiko Fujimori, who is also under investigation for corruption, alleged electoral fraud and the Peruvians, launched a six-week investigation, with Castillo ultimately taking the rightful victor. The EU, the US and 14 election missions deemed the election legitimate, and the US called the election a “model of democracy” for the region. Castillo, who previously worked as an elementary school teacher and has never held public office, will be greeted by a political establishment almost completely against him. Nano coin has started to rise.

Peruvian citizens are also deeply divided, with many urban elites reportedly moving their money abroad for fear of Castillo’s economic policies. But Castillo’s Peru Libre party has fewer than 40 of the 130 seats in the legislature, and Castillo has already recruited several moderate advisers. Furthermore, he has withdrawn from talking about the new nationalizing Peru’s lucrative multinational mining, oil, gas and hydrocarbon companies, instead promising to raise taxes on mining companies. Prices of copper and gold, two of Peru’s most critical exports, remain high and trade barriers linked to Covid are expected to ease in the coming months. While it’s uncertain how effective Castillo will be, or where he will eventually fall on his policies, positive projections for Peru’s export-based economy will likely play in his favor.