Krypto Data Digest
@Square-Creator-7467e1b9ef86
My financial markets and cryptocurrency diary. Player since 2017
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Alpha DeFi & CeFi on March 26, 2024:
→ Only 25 days left until Bitcoin's 4th Halving, the market remains vibrant with RWA and memecoins.
🔹 $VENOM - VENOM Testnet rewards will be available for claim on March 28th.
[VENOM Testnet Rewards](https://rewards.venom.network/)
🔹 $DUSK - Dusk and NPEX are collaborating to establish the first blockchain-based secure exchange in Europe!
» A significant step towards bringing #RWA on-chain in the complex legal market of Europe.
[Dusk Foundation Tweet](https://x.com/DuskFoundation/status/1767845052762800266)
🔹 Nyan Heroes opens to early players today.
» An AAA FPS game built since 2021, with the CEO being a renowned artist.
[Nyan Heroes Tweet](https://x.com/nyanheroes/status/1770073573970878606)
🔹 Circle officially launches CCTP on Solana.
» A move to expand the influence of USDC.
[Circle Tweet](https://x.com/circle/status/1766119655347745231)
🔹 $IMX - Immutable X will temporarily halt operations to carry out a Mainnet Hard Fork.
[Immutable Tweet](https://x.com/Immutable/status/1765151342992224430)
→ Only 25 days left until Bitcoin's 4th Halving, the market remains vibrant with RWA and memecoins.
🔹 $VENOM - VENOM Testnet rewards will be available for claim on March 28th.
[VENOM Testnet Rewards](https://rewards.venom.network/)
🔹 $DUSK - Dusk and NPEX are collaborating to establish the first blockchain-based secure exchange in Europe!
» A significant step towards bringing #RWA on-chain in the complex legal market of Europe.
[Dusk Foundation Tweet](https://x.com/DuskFoundation/status/1767845052762800266)
🔹 Nyan Heroes opens to early players today.
» An AAA FPS game built since 2021, with the CEO being a renowned artist.
[Nyan Heroes Tweet](https://x.com/nyanheroes/status/1770073573970878606)
🔹 Circle officially launches CCTP on Solana.
» A move to expand the influence of USDC.
[Circle Tweet](https://x.com/circle/status/1766119655347745231)
🔹 $IMX - Immutable X will temporarily halt operations to carry out a Mainnet Hard Fork.
[Immutable Tweet](https://x.com/Immutable/status/1765151342992224430)
Following the interest rate meeting, the FED is considering the possibility of cutting interest rates three times in 2024 => depending on economic data, rate cuts could start as early as June or September this year.
=> BTC staged a strong recovery from 61k to 67k due to the positive impact of the news.
Yesterday, President Biden signed a spending package for the Government's budget until October worth 1.2 trillion dollars => the market became positive.
With this positive news:
Upcoming Plan:
- BTC may recover from March 25th to April 10th: BTC may trade sideways and Altcoins may pump.
The most notable narrative currently is RWA backed by Black Rock Shill: $ONDO, $OM, $CFG, $GFI
The second narrative is EVM: $SEI, $FTM, $NEON, $CANTO
The third narrative is that POW coins may pump before Halving: $CFX has already pumped => then it may be listing mining coins $ETC, $RVN, $CKB, $ETHW
The fourth narrative is Restacking: $ALT, $ETHFI
The fifth narrative is Meme: SOL system, TON, FTM
=> That could be the upcoming market wave.
Depending on the capital position, people can choose their trading assets.
- Next, after the positive news is over => the phenomenon of "sell the news" may appear due to BTC halving like BTC ETF => BTC may correct from 48k to 38k => Then from April to May, BTC may correct to 55k.
- Afterward, it may trade sideways from 55k to 73k, money will flow into $BTC , $ETH from June to August, BTC may continue to break new highs and attract DOM.
- Altcoin waves may pump strongly from August to October, simultaneously after the election in November and December.
=> BTC staged a strong recovery from 61k to 67k due to the positive impact of the news.
Yesterday, President Biden signed a spending package for the Government's budget until October worth 1.2 trillion dollars => the market became positive.
With this positive news:
Upcoming Plan:
- BTC may recover from March 25th to April 10th: BTC may trade sideways and Altcoins may pump.
The most notable narrative currently is RWA backed by Black Rock Shill: $ONDO, $OM, $CFG, $GFI
The second narrative is EVM: $SEI, $FTM, $NEON, $CANTO
The third narrative is that POW coins may pump before Halving: $CFX has already pumped => then it may be listing mining coins $ETC, $RVN, $CKB, $ETHW
The fourth narrative is Restacking: $ALT, $ETHFI
The fifth narrative is Meme: SOL system, TON, FTM
=> That could be the upcoming market wave.
Depending on the capital position, people can choose their trading assets.
- Next, after the positive news is over => the phenomenon of "sell the news" may appear due to BTC halving like BTC ETF => BTC may correct from 48k to 38k => Then from April to May, BTC may correct to 55k.
- Afterward, it may trade sideways from 55k to 73k, money will flow into $BTC , $ETH from June to August, BTC may continue to break new highs and attract DOM.
- Altcoin waves may pump strongly from August to October, simultaneously after the election in November and December.
Alpha DeFi & CeFi on March 21, 2024:
→ The market showed slight recovery, with altcoins maintaining strength while weaker assets remained in the red. This period presents an opportunity to distinguish between strong and weak altcoins for portfolio restructuring.
🔹 $TON - TON Foundation distributed $115M worth of TON (30M Token) to incentivize ecosystem development.
» Reasonable allocation for: degen devs, n00bie normies, degenerate dabblers, and CHADs.
🔹 $SAGA - Mainnet scheduled for launch in April.
🔹 $PORTAL - Introduced staking services for participation in presale and minting game.
🔹 Ethereum Layer 2 Morph raised $20M from Dragonfly, Pantera, etc.
🔹 Mystiko Network zk-knowledge Web3 raised $18M in seed round led by Peak XV Partners.
→ The market showed slight recovery, with altcoins maintaining strength while weaker assets remained in the red. This period presents an opportunity to distinguish between strong and weak altcoins for portfolio restructuring.
🔹 $TON - TON Foundation distributed $115M worth of TON (30M Token) to incentivize ecosystem development.
» Reasonable allocation for: degen devs, n00bie normies, degenerate dabblers, and CHADs.
🔹 $SAGA - Mainnet scheduled for launch in April.
🔹 $PORTAL - Introduced staking services for participation in presale and minting game.
🔹 Ethereum Layer 2 Morph raised $20M from Dragonfly, Pantera, etc.
🔹 Mystiko Network zk-knowledge Web3 raised $18M in seed round led by Peak XV Partners.
Transaction Journal Entry:
Date: March 20, 2024
Transaction: Purchase of ZETA at $1.9
Reasons for Purchase:
1. Low market capitalization: Considering Omichain's plan to cap at 500M, there is potential for ZETA to increase in value to 2-5B.
2. Price increase correlation with BTC and Omichain trends.
3. Market Maker (MM) Wintermute continues to accumulate ZETA, holding the largest amount on the ETH chain.
If the price drops to $1, I will consider Dollar-Cost Averaging (DCA).
My target price is $5-10.
Date: March 20, 2024
Transaction: Purchase of ZETA at $1.9
Reasons for Purchase:
1. Low market capitalization: Considering Omichain's plan to cap at 500M, there is potential for ZETA to increase in value to 2-5B.
2. Price increase correlation with BTC and Omichain trends.
3. Market Maker (MM) Wintermute continues to accumulate ZETA, holding the largest amount on the ETH chain.
If the price drops to $1, I will consider Dollar-Cost Averaging (DCA).
My target price is $5-10.
Alpha DeFi & CeFi on March 20th, 2024:
→ The market is undergoing a correction after a series of hot days of growth. If we zoom out, we can see that the monthly candle of BTC has been continuously green for 8 months. This correction is necessary for the market, and it may last longer, so it is hoped that everyone holding assets will maintain their psychological stability.
#kryptonews
→ The market is undergoing a correction after a series of hot days of growth. If we zoom out, we can see that the monthly candle of BTC has been continuously green for 8 months. This correction is necessary for the market, and it may last longer, so it is hoped that everyone holding assets will maintain their psychological stability.
#kryptonews
This morning, Tether continued to mint $1 billion USDT on the Tron network before depositing a net amount of $80 million onto the Bitfinex exchange.
GSR Markets is also actively promoting the deployment of stablecoins on exchanges, alongside Wintermute and Cumberland. In addition, they are actively engaging in the market. In the event of a market downturn, there will be an opportunity to absorb these stablecoin quantities, which in turn will have absorbed altcoins at more favorable prices than those offered to retailers.
Altcoins exhibiting strong recovery momentum include Layer 1 projects such as APT, SUI, FTM, and others related to infrastructure projects.
- Six hours ago, $1 billion was minted and transferred to Tether from the Black Hole.
#moneyflow
GSR Markets is also actively promoting the deployment of stablecoins on exchanges, alongside Wintermute and Cumberland. In addition, they are actively engaging in the market. In the event of a market downturn, there will be an opportunity to absorb these stablecoin quantities, which in turn will have absorbed altcoins at more favorable prices than those offered to retailers.
Altcoins exhibiting strong recovery momentum include Layer 1 projects such as APT, SUI, FTM, and others related to infrastructure projects.
- Six hours ago, $1 billion was minted and transferred to Tether from the Black Hole.
#moneyflow
Forecasting Challenges for the Crypto Market in Q2/2024: Impact of China and the US
CHINA
- Economic Landscape: China faces significant economic challenges in Q2/2024. Despite a reduction in interest rates from 3.35% to 3.15%, the country anticipates a decrease in GDP for the quarter, accompanied by rising inflation and unemployment rates. The M2 money supply and bank budgets in China are also expected to decrease in Q2/2024, leading to a reduction in liquidity. This directly impacts the crypto market, especially since 70% of the current trading volume worldwide originates from the Asian region.Previous Market Fluctuations: Previous liquidity fluctuations in China from May to September 2023 demonstrated that the crypto market could decrease by half or even by a third. Conversely, when liquidity is pumped strongly from late 2023 to February 2024, the crypto market can experience significant increases, even up to 5 or 10 times.Current Policies: Presently, the Chinese government has been withdrawing liquidity since February 2024, which could lead to further volatility and uncertainty for the crypto market in the near future.
US
- Economic Landscape: Amid decreasing inflation, the US is expected to record lower GDP growth in Q2/2024. Interest rate adjustments are also possible, with a high likelihood in August or September of the same year.Previous Market Fluctuations: Although the M2 money supply remains stable, the accounting-balanced budget is decreasing compared to Q1/2024. The specific impact of this on the crypto market depends on various other factors.
In conclusion, despite the challenging forecasts in Q2/2024, the crypto market continues to face various uncertain factors from major economies like China and the US. Fluctuations in liquidity and other economic indicators could present opportunities or risks for investors and crypto project developers.
#kryptopnews
CHINA
- Economic Landscape: China faces significant economic challenges in Q2/2024. Despite a reduction in interest rates from 3.35% to 3.15%, the country anticipates a decrease in GDP for the quarter, accompanied by rising inflation and unemployment rates. The M2 money supply and bank budgets in China are also expected to decrease in Q2/2024, leading to a reduction in liquidity. This directly impacts the crypto market, especially since 70% of the current trading volume worldwide originates from the Asian region.Previous Market Fluctuations: Previous liquidity fluctuations in China from May to September 2023 demonstrated that the crypto market could decrease by half or even by a third. Conversely, when liquidity is pumped strongly from late 2023 to February 2024, the crypto market can experience significant increases, even up to 5 or 10 times.Current Policies: Presently, the Chinese government has been withdrawing liquidity since February 2024, which could lead to further volatility and uncertainty for the crypto market in the near future.
US
- Economic Landscape: Amid decreasing inflation, the US is expected to record lower GDP growth in Q2/2024. Interest rate adjustments are also possible, with a high likelihood in August or September of the same year.Previous Market Fluctuations: Although the M2 money supply remains stable, the accounting-balanced budget is decreasing compared to Q1/2024. The specific impact of this on the crypto market depends on various other factors.
In conclusion, despite the challenging forecasts in Q2/2024, the crypto market continues to face various uncertain factors from major economies like China and the US. Fluctuations in liquidity and other economic indicators could present opportunities or risks for investors and crypto project developers.
#kryptopnews
Morning News Highlights - March 20th, 2024
- Binance's Scrutiny of U.S. Investors: Binance has initiated a review process to identify U.S. investors, prompting its brokers like FalconX and Hidden Road, among others, to withhold customer information from regulatory authorities.
- Nigeria's Intensified Investigation of Binance: Nigeria has escalated its investigation into Binance, with the Federal Supreme Court demanding detailed information on all Nigerian users for the country's anti-corruption agency.
- Stars Arena Launches on Avalanche: Stars Arena, an artificial intelligence-driven project on Avalanche, has garnered community support as SocialFi gains traction, recently unveiling earning opportunities on the Frentech platform.
- Wall Street Fidelity Boosts Ethereum Strategic Fund: Wall Street Fidelity asset management company has recently infused investment spirit into its Ethereum Strategic Fund.
- C7 Introduces Giggle Student Token: C7 announces the imminent launch of a new educational project featuring a new token, named Giggle Student, aimed at providing free basic education to everyone and implementing modern learning methodologies.
- MicroStrategy's Bitcoin Purchase: In the past week, MicroStrategy has authorized Michael Saylor to purchase 629 Bitcoins at a cost of $25.9 million, bringing the total holding to 67,382 Bitcoins.
- Blofi's Weekly Analysis: Blofi's analysis indicates that this week will be the most pivotal in the first quarter of 2024, with major central banks set to announce decisions and statements, shaping the framework for cryptocurrency policies in the years ahead.
- Matter Labs Transfers Digital Asset Holdings: Matter Labs, the developer behind zkSync, has tokenized $50 million worth of silver reserves from Swiss Sygnum Bank onto their own Layer-2 blockchain.
- Solana Co-Founder's Token Sale: Solana co-founder Toly has initiated the sale of random brand icon tokens on Solana, generating over 655,000 SOL (approximately $122.5 million) from nearly 27 pre-Solana tokens sold.
#sonala #kryptonews
- Binance's Scrutiny of U.S. Investors: Binance has initiated a review process to identify U.S. investors, prompting its brokers like FalconX and Hidden Road, among others, to withhold customer information from regulatory authorities.
- Nigeria's Intensified Investigation of Binance: Nigeria has escalated its investigation into Binance, with the Federal Supreme Court demanding detailed information on all Nigerian users for the country's anti-corruption agency.
- Stars Arena Launches on Avalanche: Stars Arena, an artificial intelligence-driven project on Avalanche, has garnered community support as SocialFi gains traction, recently unveiling earning opportunities on the Frentech platform.
- Wall Street Fidelity Boosts Ethereum Strategic Fund: Wall Street Fidelity asset management company has recently infused investment spirit into its Ethereum Strategic Fund.
- C7 Introduces Giggle Student Token: C7 announces the imminent launch of a new educational project featuring a new token, named Giggle Student, aimed at providing free basic education to everyone and implementing modern learning methodologies.
- MicroStrategy's Bitcoin Purchase: In the past week, MicroStrategy has authorized Michael Saylor to purchase 629 Bitcoins at a cost of $25.9 million, bringing the total holding to 67,382 Bitcoins.
- Blofi's Weekly Analysis: Blofi's analysis indicates that this week will be the most pivotal in the first quarter of 2024, with major central banks set to announce decisions and statements, shaping the framework for cryptocurrency policies in the years ahead.
- Matter Labs Transfers Digital Asset Holdings: Matter Labs, the developer behind zkSync, has tokenized $50 million worth of silver reserves from Swiss Sygnum Bank onto their own Layer-2 blockchain.
- Solana Co-Founder's Token Sale: Solana co-founder Toly has initiated the sale of random brand icon tokens on Solana, generating over 655,000 SOL (approximately $122.5 million) from nearly 27 pre-Solana tokens sold.
#sonala #kryptonews