🗓 09.09.2024 | QUICK OVERVIEW OF THE CRYPTO MARKET
💬💬💬💬💬💬 24h price action:
🟢 Bitcoin starts the new week at 55k
🟢 On the weekly chart, we have a second red candle after the full-force red candle last week. The price action in the D chart is quite uncomfortable. After 2 consecutive red candles, the price is accumulating sideways right above the support. However, the current price reaction is not really strong.
🟢 The greed and fear indexes have escaped from the extreme fear zone to the fear zone, not much different 😁
🟢 Altcoins have a better recovery, typically SUI, STRK, AVAX. Holders are temporarily warmed up after the stormy days 💧🌈
⚡️⚡️⚡️⚡️⚡️⚡️ Crypto News 24h: 🔴 🇺🇸 Donald Trump announced that he would impose a 100% tax on countries that abandon the use of the US Dollar if he is elected President 🔴 Ripple is about to launch the stablecoin $RLUSD, pegged to the US dollar, CEO Brad @bgarlinghouse said the expected launch time is "in the next few weeks." 🔴 Mastercard and Mercuryo cooperate to issue debit cards for non-custodial wallets
➡️ $BTC - According to @AxelAdlerJr, $BTC's RSI has dropped to its lowest level since July and was similarly low in September last year. Since September last year, BTC was at 26k, but 6 months later it reached 73k.
➡️ $BTC - Arthur Hayes opened a SHORT position on $BTC, noting that $BTC could correct below $50,000 over the weekend, but quickly closed the position 😅. Hayes argues that more US dollar liquidity is flowing into the market this week and bitcoin price “could go up.”
➡️ $FB - Fractal Bitcoin launches Mainnet. 80% of all tokens are allocated to the community, with only 20% for the team and contributors. This 80% includes Proof of Work mining, which accounts for 50% of the total supply.
➡️ Tether has acquired a 9.8% stake in Adecoagro, a large Latin American agricultural conglomerate.
➡️ $USDC - USDC has just minted another 50 million $USDC.
➡️ $AMB - AirDao has announced the upcoming launch of its liquid staking product, HARBOR. The liquid staking product will be launched in September, and 3 tokens - $AST $HRB $HBR - will undergo TGE in October.
A higher hash rate reflects more computing resources being used to process transactions and mine new Bitcoins.
While an increase in hash rate does not directly impact Bitcoin's price, it does strengthen the security of the underlying network. Hash rate milestones also tend to precede bullish market moves and Bitcoin halving events.
💬💬💬💬💬💬 24h price movement: 🟢 BTC recovers to the $54k6 area, however, the recovery volume is not strong 🟢 BTC is currently aiming to close the weekly candle, this will partly determine the BTC situation next week 🟢 Altcoins are also recovering significantly following BTC - Market sentiment is also more skeptical than excited
⚡️⚡️⚡️⚡️⚡️⚡️ Crypto 24h News: 🔴 Treasury Secretary Janet Yellen affirmed that the US economy is stable and the slight decrease in employment figures is a sign of a soft landing, not a recession. 🔴 WisdomTree Withdraws ETH ETF Application 🔴 ZKsync Takes New Step Towards Fully Decentralizing Project
🧬 Solana Daily Active Addresses Hit All-Time High - ATH
The 🧬 Solana network just hit a new high - 3.8 million active addresses, surpassing the combined totals of ⚪️ Ethereum (327,000), 🟠 BNB (823,000) and 🔻 Tron (2.1 million).
Interestingly, while Solana activity has skyrocketed by an impressive 363%, Ethereum has dropped by 19.3% over the past 6 months.
🗓 07.09.2024 | QUICK OVERVIEW OF THE CRYPTO MARKET
💬💬💬💬💬💬 24h price movement: 🟢 BTC plummeted to $52k5, US stocks were on fire, S&P 500 had the worst week since March 2023 🟢 BTC has now returned to the $53k8 area, but the recovery is weak 🟢 Altcoins fell slightly following BTC, there are no signs of panic selling like previous BTC dumps. Many Altcoins are performing better than Bitcoin 🤔
⚡️⚡️⚡️⚡️⚡️⚡️ Crypto News 24h: 🔴 CZ is permanently banned from running Binance exchange, but still has influence because of the amount of shares he holds [ 🔴 Ripple co-founder supports Kamala Harris for President 🔴 Coinbase adds $ZK (ZKsync) to its future listing roadmap 🔴 TON Foundation invests another $24M to promote DeFi on the network
TVL of Restaking Protocols Plunges 50% 📉 in the Past 3 Months
Restaking protocols were once the "bright stars" in Q2/2024 when TVL peaked at $21.2 billion on June 7, with a series of impressive milestones such as ether.fi's TVL increasing by $1 billion in just 5 days or Symbiotic reaching $1 billion TVL just 1 month after its launch. However, this halo is gradually fading as protocols face a serious decline in TVL.
According to statistics from Protos, Pendle suffered a huge loss with a decrease of 63%. ether.fi, although retaining most of its value, also fell by more than 10%. Renzo was one of the most damaged protocols with a loss of more than 75% of its TVL value. Protocols like Puffer, Kelp, and Karak did not escape the trend with losses ranging from 32% to 44%.
💬💬💬💬💬💬 24h price movement: 🟢 After recovering to $58k, BTC continues to return to the small range sideways at the price range of $56k
🟢 Altcoins slightly decrease following BTC
🟢 Market returns to "Extremely Fearful" state after the strong dump at the end of August 6
⚡️⚡️⚡️⚡️⚡️⚡️ Crypto News 24h: 🔴 Mastercard launches crypto debit card in Europe, allowing users to spend from self-managed wallets at 100 million payment acceptance points.
🔴 US Crypto Lobbying Spending Increases 1,386%
🔴 Synthetix Builds SNAXchain App-Chain on Optimism Superchain
🚨 Zürcher Kantonalbank (ZKB), the fourth largest bank in Switzerland and ranked as the second safest bank in the world, has launched a cryptocurrency service for retail customers and third-party banks.
Customers can now trade Bitcoin and Ether via the bank's app and online banking platforms.
🗓 05.09.2024 | QUICK OVERVIEW OF THE CRYPTO MARKET
💬💬💬💬💬💬 24h price movement: 🟢 After yesterday's rekt to 56.6k, BTC has now increased slightly back to the 58k area. The whole market is cautiously covered in green 😁
🟢 ETH's gas is changing, a few weeks ago it was fluctuating below 1, now it has bounced back above 5. The greed and fear index is still at 29 - the fear level.
⚡️⚡️⚡️⚡️⚡️⚡️ Crypto News 24h: 🔴 CFTC fines Uniswap for providing illegal Crypto derivatives trading
🗓 04.09.2024 | QUICK OVERVIEW OF THE CRYPTO MARKET
💬💬💬💬💬💬 24h price movement: 🟢 BTC suddenly dropped sharply this morning to 55.6k, currently trading around 56.6, which has dragged $196.57M 💵 liquidated in the past 24h
🟢 The entire market continues to be immersed in red like the early days of August, fear has begun to increase more in the psychology of investors
⚡️⚡️⚡️⚡️⚡️⚡️ Crypto News 24h: 🔴 The US Department of Justice has sent subpoenas to NVIDIA and other companies, with why this chipmaker violated antitrust laws.
🔴 Penpie is a DeFi platform tied to Pendle Finance, hacked, $27M in damage
🔽 Over $1.05 Trillion Wiped Out of the US Stock Market Today
BTC's total market cap is $1.1 Trillion, meaning the $1.05 Trillion wiped out from the stock market is almost the same as BTC's entire market cap wiped out in just 1 day. 👀
💬💬💬💬💬💬 24h price movement: 🟢 BTC recovered more than 3% from $57k1 to $59k8 after celebrating 9/2
🟢 Altcoin recovered with BTC, green returned to the market, however, investors' sentiment is still more fearful than optimistic, this is reflected in the greed and fear index currently at 26
⚡️⚡️⚡️⚡️⚡️⚡️ Crypto 24h News: 🔴 Bitcoin miner revenue in August reached $851M ($20M from transaction fees), the lowest level this year.
🔴 Coinbase is building an SDK that enables bot/AI trading, transfers, and cross-chain interactions