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⚡️Interesting Correlation 👇 Most memecoins are in ETH mainnet. ⬇️ Most traded pairs on DEX are Memecoin/ETH pairs. ⬇️ So profit is in $ETH. ⬇️ ETH fees skyrocketing. ⬇️ So less trade and utility due to high tx fees. ⬇️ ETH sold for $ ⬇️ ETH sell pressure after #MemeCoinSeason

⚡️Interesting Correlation 👇

Most memecoins are in ETH mainnet.

⬇️

Most traded pairs on DEX are Memecoin/ETH pairs.

⬇️

So profit is in $ETH.

⬇️

ETH fees skyrocketing.

⬇️

So less trade and utility due to high tx fees.

⬇️

ETH sold for $

⬇️

ETH sell pressure after #MemeCoinSeason

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US CPI DAY - What are the expectations? Today, at 14:30 CEST, we will get US CPI data for October. These are high-impact news that could cause big market volatility. The market analysts are forecasting the core inflation to stay the same at 4.1% while the expectations for headline inflation are that we're going to see a drop from 3.7% to 3.3%. How will this affect the crypto? As a rule of thumb, if we get results same or better than the expectations, we expect the crypto market to positively react. However, if the results are worse than the expectations, it can negatively affect the crypto market. The current state of the crypto market is more focused and driven by ETF speculation so we believe that only a big surprise in CPI data could cause a big move in the market.
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