Stocks jump on news of coronavirus vaccine, Bitcoin stays flat
Trails for a new coronavirus vaccine are showing promising results, and the markets are reacting—some much more positively than others.
Bitcoin is currently trading for around $9,600 per coin, up from a slight dip to $9,300 over the weekend. Ethereum price has also increased by around 5% since this morning. ETH is currently trading at $212, a jump of nearly 10% since the early weekend.
All in all, however, the crypto market is mostly flat today, unlike the traditional stock and equities market (which Bitcoin up to recently had been tracking closely).
The big winner today is the Dow, which surged more than 900 points today following news that a vaccine for the coronavirus could be closer than some initially thought. The S&P 500 also surged by 3% today and is likewise up 3% over the past year, while the NASDAQ is up 6%.
The potential COVID-killer comes by way of Massachusetts-based biotechnology firm Moderna Therapeutics. The company says it has experienced positive results during stage one of its vaccine trial, which consisted of 45 individual participants. Those taking part were divided into three groups and received 25, 100, and 250-microgram doses, respectively.
Forty three days into the trial, and after two doses had been administered, blood samples from the first two groups (25 and 100 micrograms) revealed that participants’ antibodies had surged considerably, with the 25-microgram group’s levels around the same as patients who had recovered from the virus.
Individuals who had received 100-microgram doses bore antibodies that “significantly exceeded levels” of recovered patients. Information is not yet available on the third group.
According to the biotech firm, if all goes well, it could have a coronavirus vaccine ready in time for general use by the start of 2021. Maderna’s stock price jumped 20% on the news.
Original Source: Decrypt Stocks jump on news of coronavirus vaccine, Bitcoin stays flat