Daily Bits — Out With the G(old), In With the New

We bring you Bybit Daily Bits — A tiny step towards trading the world.

Chart of the Day

Talk about welcoming an April Bulls’ Day! The month of March saw several record-breaking moments, among which the ETH miner revenue totaling $1.38 billion, up a modest 0.73% against its February record of $1.37 billion.

Ethereum transaction fees, constituting a significant portion of miner revenue in February, have dropped 9.94%. The continued miner profitability can be attributed to the NFT boom and Ether’s relatively stable price performance in March.

Talk of the Town

Out with the g(old), in with the new? That seems to be what JPMorgan is saying about BTC’s potential in eclipsing the safe haven as a portfolio diversifier. According to their research, the recent decline in Bitcoin’s volatility is going to attract more institutions seeking low-correlation assets. JPMorgan Chase is never too bold in its Bitcoin price prediction — this time charging straight towards a long-term price target of $130,000.

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