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Crypto Week: Japanese Jump of BTC and Mind Blowing 527,000% in ETH

Bitcoin prices are adding moderate 2.3% to $27,000 per coin this week. This is not a major development, but the reason for it is very interesting. 

First, Japanese government is planning to allow startups to offer digital tokens to venture funds in exchange of investments, according to Nikkei. This is not a major driver, as BTC prices have not reacted on the news. They even dropped by 0.4%.

The second news was much more intriguing for the market. Nomura digital asset subsidiary, Laser Digital Asset Management, has unveiled the Bitcoin Adoption Fund, designed exclusively for institutional investors. The assets of Nomura are huge, at $500 billion. Any moves of such behemoth towards crypto industry should be considered as positive developments. What is even more interesting is that such large financial institutions are building crypto infrastructure around Bitcoin and some other major crypto assets. This might signal that the U.S. Securities and Exchange Commission has send a clear signal what crypto assets would become legally approved. These efforts also raises the share of Bitcoin in the market. It hit 50.2% this week, the largest in September. This is quite remarkable considering that Bitcoin share in the crypto market was below 49.0% in the recent years, and was even lower at 40.0% at some point. SEC activity pushed the market share of Bitcoin up. It may reach 52.0% soon. 

Large transfers of the ETH to crypto exchanges may be a reaction on this. Vitalik Buterin has send around $493,000 ETH to Kraken, while some other whales have sent around $60 million. The most fascinating is a transfer of $10 million ETH from one of the oldest crypto wallet. This wallet was last active in acquiring altcoins 9 years ago during Ethereum ICO. Ethereum prices were at $0.31 per coin then. This may mean that the return of such investments now is at mind blowing 527,000%.

This is indeed a unique investment achievement, as such investment opportunities are very rare. But, there might be some other investment opportunities in the crypto industry, as prices may surge after the crypto winter would be over.