Analysts are fearful that cryptocurrencies might be approaching a bubble after this week saw Bitcoin reach an all-time high market cap with a single bitcoin trading over $3,500, per Reuters.

  • By the numbers: All cryptocurrencies combined now have a total market cap of $120 billion — Bitcoin only makes up 46% of that — whereas their combined market cap at the start of the year was $17.5 billion.
  • The argument for a bubble: Some analysts see cryptocurrencies as nothing more than a fad with their value created from nothing. And they're not accepted by the vast majority of retailers, lessening their usefulness.
  • The argument against a bubble: Cryptocurrency proponents believe that their finite supply and technological security makes them an ideal solution in today's age, citing innovations like a United Nations pilot program that used Ethereum, the second most popular cryptocurrency, to give cash to Syrian refugees.

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Updated 34 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Politics: Obama: Trump is "jealous of COVID's media coverage" Axios-Ipsos poll: Federal response has only gotten worse.
  2. Health: Hospitals face a crush — 13 states set single-day case records last week.
  3. Business: Winter threat spurs new surge of startup activity.
  4. Media: Pandemic causes TV providers to lose the most subscribers ever.
  5. States: Nearly two dozen Minnesota cases traced to three Trump campaign events.
  6. World: Putin mandates face masks.

Unrest in Philadelphia after fatal police shooting of Black man

Demonstrators rally on Tuesday near the location where Walter Wallace was killed by two police officers in Philadelphia, Pennsylvania. Photo: Mark Makela/Getty Images

The Pennsylvania National Guard was mobilized Tuesday during a tense second night of protests in Philadelphia over the fatal police shooting of Walter Wallace, a 27-year-old Black man.

Driving the news: Philadelphia Jim Kenney (D) and Police Commissioner Danielle Outlaw said in a joint statement Monday that police were launching a "full investigation" to answer questions that arose from video that captured part of the incident with police.

2 hours ago - Sports

Los Angeles Dodgers win World Series

Mookie Betts slides home safely to give the Dodgers a 2-1 lead. Photo: Tom Pennington/Getty Images

The Los Angeles Dodgers won their seventh World Series in franchise history with a 3-1 Game 6 victory over the Tampa Bay Rays on Tuesday. Shortstop Corey Seager was named the series MVP.

The big picture: It's the Dodgers' first championship since 1988, though they've won the NL West division in eight straight seasons and reached the World Series three times in the last four years.