18th September 2023: Weekly Crypto Trends
Crypto Assets
Bitcoin rallied 2.7% on the week, Ethereum was barely changed.
Secondary coins were mixed on the week; Thorchain was the standout on the positive side, with a gain of 14.8%, while Stellar and Avalanche gave up 5% each. Only Thorchain and Stellar have short term uptrends.
Crypto related equities were lower on the week, with a fall of 10.2% in Marathon and a 5.4% fall in Hive. Riot, Marathon and Hive are all near short term supports; Block has made a new short term low.
Crypto News
Crypto news continues to be thin.
Tech billionaire Mark Cuban fell victim to a crypto scam last week. Although blockchain watchers identified the transactions, allowing him to move other coins safely, he lost around $1million across a number of cryptocurrencies.
In further news of fraudulent activity, Blockchain surveillance firm Elliptic published a report last week outlining the fact that North Korean hacking group Lazarus has been linked to five major crypto hacks over the past three months and is responsible for the theft of almost $240 million in crypto.
Coinbase CEO Brian Armstrong has urged DeFi projects to “establish precedent” by going to court with the Commodity Futures Trading Commission. Armstrong argues that the regulator, “should not be creating enforcement actions against decentralized finance (DeFi) protocols,” since they are not financial service businesses.
Major Coin Summary
| Name | Close | Daily Ch % | Wk Ch | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|---|---|
| Bitcoin | 26,618.13 | 0.3% | 702.66 | 2.7% | 36 | -42 | 0 | -10 |
| Ethereum | 1,642.16 | 0.8% | 4.37 | 0.3% | 34 | -75 | -88 | -85 |
Bitcoin rallied 2.7% on the week, Ethereum was barely changed.
Ratio Chart
Secondary Coin Summary
Weekly change – highest to lowest
| Name | Close | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|
| THORChain (Smart Contract Coin) | 1.82 | 14.8% | 67 | 92 | -88 | -44 |
| Monero (Privacy Coin) | 147.68 | 2.6% | 44 | -42 | -88 | -77 |
| Cosmos (Smart Contract Coin) | 6.93 | 1.4% | 32 | -75 | -88 | -85 |
| ChainLink (Cross Chain Coin) | 6.37 | 1.4% | 35 | -75 | -88 | -85 |
| Decentraland (Gaming Coin) | 0.30 | 1% | 32 | -83 | -88 | -87 |
| BNB Chain Native Token (Smart Contract Coin) | 214.18 | -0.3% | 33 | -75 | -88 | -85 |
| XRP (Smart Contract Coin) | 0.50 | -0.8% | 28 | -8 | 38 | 27 |
| The Sandbox (Gaming Coin) | 0.31 | 0% | 23 | -92 | -91 | -91 |
| Near (Smart Contract Coin) | 1.13 | -1.9% | 34 | -75 | -88 | -85 |
| Cardano (Smart Contract Coin) | 0.25 | -1.5% | 31 | -75 | -88 | -85 |
| DogeCoin (Memecoin) | 0.06 | -1.8% | 31 | -75 | -88 | -85 |
| Fantom (Smart Contract Coin) | 0.20 | -2.8% | 36 | -75 | -88 | -85 |
| Polygon (Smart Contract Coin) | 0.53 | -2.6% | 28 | -92 | -91 | -91 |
| Solana (Smart Contract Coin) | 19.19 | -2.3% | 35 | -75 | -88 | -85 |
| Polkadot (Cross Chain Coin) | 4.14 | -2.7% | 29 | -100 | -95 | -96 |
| Theta Token (Gaming Coin) | 0.62 | -3.1% | 34 | -75 | -88 | -85 |
| Avalanche (Smart Contract Coin) | 9.43 | -5% | 26 | -100 | -91 | -93 |
| Stellar (Privacy Coin) | 0.12 | -5.2% | 40 | 75 | 0 | 18 |
Secondary coins were mixed on the week; Thorchain was the standout on the positive side, with a gain of 14.8%, while Stellar and Avalanche gave up 5% each. Only Thorchain and Stellar have short term uptrends.
| Name | Close | Daily Ch % | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|---|
| Ark Innovation ETF | 43.06 | -1.3% | -1.4% | 44 | 33 | -41 | -22 |
| Block Inc | 52.83 | -1.9% | -0.5% | 30 | -92 | -92 | -92 |
| Coinbase Global Inc Cl A | 82.15 | -1.6% | 0.1% | 45 | 75 | -45 | -15 |
| Hive Blockchain Technologies Ltd | 3.16 | -3.1% | -5.4% | 29 | -8 | 85 | 62 |
| Marathon Digital Hldgs Inc | 9.80 | -2% | -10.2% | 31 | 0 | 0 | 0 |
| Microstrategy Cl A | 340.78 | -1.6% | -4.4% | 40 | 33 | 41 | 39 |
| Riot Blockchain Inc | 10.77 | -1.8% | -1.6% | 29 | -8 | -3 | -4 |
| Robinhood Markets Inc Cl A | 10.67 | 0.9% | -0.7% | 44 | 33 | -88 | -58 |
| Tesla Inc | 274.39 | -0.6% | 10.4% | 57 | 75 | -92 | -51 |
Crypto related equities were lower on the week, with a fall of 10.2% in Marathon and a 5.4% fall in Hive. Riot, Marathon and Hive are all near short term supports; Block has made a new short term low.