LAST WEEKS STAR COINS
Last week from the 20/12/2021 to 26/12/2021 brought back a sense of hope and opertunity in the cryptosphere. There was some positive news making the rounds and it seemed like the cryptocurencies market was on a whole more optimistic as the week began. But till the news looked to be sending alot of mixed vibes to the phere. The main reason for the weeks performace has to be the fact that that Christmas time bring lower liqidity at traditional markets this gave some a;t coins opertunity to rise above double digits % wise.
AAVE USDT
+57.71%
THETA USDT
MATIC USDT
+32.53%
These coins managed to make a huge gain the week with 2 of them being on my must buy list of 2022 showing why i have them on the list, but the weeks high was short lived with the news that the Central Bank of Russia was restarting talks on prohibitic cryptocurencies pointing out a few investment limiting options available to them to try block crypto market in Russia in the near future.
There was still positive news the week with centralized exchanges it is reported that the trading volume on the exchanges exceeded $14trillion for 2021 this being because of lots of projects targeting institutional investment. this also shows that mass addoption of crypto is near. DEX had a increase of 858% and cetralized exchanges a increase of 689% being significantly higher than any other year the whole market exceeded $15trillion in trading volume, May month being the most succesful for both as DEX having $163 billion in deals made and the centralized exhanges had $2.23 trillion in deals made. This is just a confirmation of the extensive speed blockchain tech is being adopted as we reach a Decentralized world as soon as 2025 maybe.
Social media getting ready for NFT in the near future with instagram leading the descussion. This is after perant company Facebook transfomed to Meta Instagram’s CEO Adam Mosseri spoke about NFT's being supported on the platform in a AMA questioning series directed at the excecutive. when asked about posible NFT integration an the platform Mosseri replied “Nothing to announce yet, but we are definitely actively exploring NFTs and how we can make them more accessible to a wider audience,” Mosseri elaborated. “I think it’s an interesting place where we can play, and also a way to hopefully help creators,” we will have to wait and see if it will happen and when as time goes on.
That was the most notible news in the cryptosphere the past week.
THIS WEEKS WHAT IS TO COME
BTC BTC BTC in the next couple of weeks I think the BTC price is some thing to keep an eye on.
As the BTC USDT price reaches a crucial resistance level of $51,000.00 not yet breaking through that resistance yet. On the 25th of DEC there are 120,300 contracts worth $4 billion set to expire this Friday on major exchanges Deribit, CME, Bakkt, OKEx, LedgerX . This willl bring about lost of volatility this comming week. There are still alot of reasons to leave room for BTC to overcome this barrier soar towards ALT( all time high).
Here are my 3 main reasons for that statement
1) When looking at the net position change on exhanges which reflects the of coin entering or leaving exchanges , we can see that the position is looking to be in a accumalitive state meaning coins are leaving exhanges more , this gives the indication that most users are accumilating Bct and not trying to sell .
2) The drop in BTC price allowed for more institutional investors to be attracted to entering the market . With open interest in BTC futures contracts rising in the past five day the data from Glassnode indicate that institutional investors are staying intirested in the cryptocurrency giving a strong indication of growth in demand for a higher price by those investors
3) technical analysis- prices reaching the resistance levels at $51,000.00, if broken it should trigger a rise to a target of $52,000.00 witch could be followed to a target of $54,000.00 .
Please take time to do your own research and dont take this article as financial advice on how and on what to spend your money this is purely an opinion and not profesional advice
thats all for now till next time
tttttttttttttttooooooooooooooooooo
ttttttttttttttttthhhhhhhhhhhhhhhhheeeeeeeeeeeeeeeeeeee
mmmmmmmmmmmmmmmmmoooooooooooooooooooooooooooonnnnnnnnnnnnn
lllllllllllaaaaaaaaaaaaaaaammmmmmmmmmmbbbbbbbbbbbbbbooooooooooooooooooooo
