$ETH $SOL The cryptocurrency market has shown divergent trends, with some assets jumping in value while others have faced downward pressure. Ethereum noticed significant whale activity, with one investor making a notable trade for a $14 million profit and reducing his ETH investment. While altcoins such as Avalanche (AVAX) and Ripple (XRP) have shown upward trends, supported by technical support levels, potential institutional investments such as JP Morgan's use of Avalanche through Onyx for tokenized funds, and relisting on major exchanges . VersiFi's acquisition of a former Genesis executive and $10 million investment signaled growing interest in reforming the crypto lending industry. CSquared's raising of $25 million in equity funding and subsequent expansion into Africa, as well as Commerzbank's acquisition of the first major German bank license to hold cryptocurrencies, underscore the institutions' continued involvement in the crypto sector. In the broader market, the stock showed resilience despite inflation fears, bolstering expectations slowing down inflation rates. Cryptocurrency stocks like WonderFi have expanded their market presence with the acquisition of Canadian crypto exchange Bitvo. Amid commodities, Bitcoin supply dynamics have been evolving, with a record 70% of coins stagnant in over a year, indicating a possible accumulation phase. Additionally, the focus on regulatory compliance and security was evident in the CFTC Chairman's warning about a potential repeat of the crypto crisis , reflecting FTX's problems. Layer 2 networks have reached a total value locked (TVL) of $13 billion, but have faced scalability and usability issues. Amid this challenging environment, the key sectors that performed best were DeFi tokens and service platforms aimed at improving user experience and compliance with financial regulations.
Buy:
1. Avalanche (AVAX): AVAX is showing signs of a continued uptrend with positive technical support tests and it became part of JP Morgan's Onyx for tokenized funds, causing the price to jump.
2. XRP (XRP): XRP has been relisted on a major crypto exchange and is showing signs of an uptrend, indicating growing market confidence.
3. Chainlink (LINK): There is strong interest in buying LINK and the price forecast looks optimistic.
4. Polkadot (DOT): DOT has successfully tested support levels and has the potential for further growth, as indicated by technical analysis.
5. Solana (SOL): Despite some security concerns, SOL's price trend remains upward, and Cathie Wood's bullish stance on the coin could signal continued growth.
Sell:
1. Ethereum (ETH): A notable whale that made huge profits from ETH has started selling its assets, which could be a bearish signal.2. Dogecoin (DOGE): With open interest falling and market pressure on meme coins, DOGE's recovery may finally slow down.3. Shiba Inu (SHIB): Similar to Dogecoin, SHIB is facing market pressure and there may be concerns about the sustainability of its recovery.4. Bitcoin (BTC): Bitcoin has broken through key support levels and may fall below certain price points, indicating bearish trends.5. Kaspa (KAS): Despite the rapid rise in price, the outlook for Kaspa requires caution, and a trader making significant profits may assume that the market is at a local peak.
❗Please note that this information does not constitute investment advice. I wish you all success and inevitable profits
