7th May 2023: Weekly Crypto Trends
Crypto Assets
Bitcoin was marginally better over the week, while Ethereum rallied by 5.4%, reasserting short term uptrend.
Secondary coins were modestly lower on the week for the most part, the better performers were Monero and Fantom up 3.1% and 2.7% respectively.
Crypto related equities were mixed, with an 8.3% rally in Coinbase, after some better than expected numbers. It finds support at 50. Better trending stocks, such as Marathon and Microstrategy maintain their short term uptrends.
Headlines
Sotheby’s has launched an on-chain NFT secondary marketplace for Secondary Art Sales.
The recently launched Pepe coin has surged in price and is now in the top 100 Cryptos with a market cap of over $ 1 billion.
Binance has listed the Pepe coin in its so-called “innovation zone” which is a euphemism for coins with no discernible value of utility. You are allowed by Binance to “trade” in this zone if you answer correctly the question as to “how much money can you lose trading in this zone? More or Less than 50%? If your answer is more than 50% you can trade!!
The White House issued a report this week speculating about a 30% crypto tax on crypto miners suggesting the latter do not pay for the full economic costs that they impose on others.
Kyle Davies and Su Zhu, the disgraced founders of bankrupt 3 Arrows Fund are criticised by Dubai regulator over their latest con trick the OPNX exchange.
Name | Close | Daily Ch % | Wk Ch | Wk Ch % | RSI | ST Score | LT Score | Overall |
---|---|---|---|---|---|---|---|---|
Bitcoin | 29,537.56 | 2.4% | 194.03 | 0.7% | 54 | 42 | 0 | 10 |
Ethereum | 1,995.20 | 6.2% | 101.63 | 5.4% | 59 | 8 | -47 | -34 |
Bitcoin was marginally better over the week, while Ethereum rallied by 5.4%, reasserting short term uptrend.
Weekly change – highest to lowest
Name | Close | Wk Ch % | RSI | ST Score | LT Score | Overall |
---|---|---|---|---|---|---|
Monero (Privacy Coin) | 158.13 | 3.1% | 49 | -33 | -47 | -44 |
Fantom (Smart Contract Coin) | 0.43 | 2.7% | 47 | 8 | -88 | -64 |
ChainLink (Cross Chain Coin) | 7.21 | 2.4% | 48 | 8 | -88 | -64 |
BNB Chain Native Token (Smart Contract Coin) | 327.91 | 1% | 55 | 8 | 47 | 38 |
THORChain (Smart Contract Coin) | 1.35 | -0.8% | 47 | -83 | -88 | -87 |
Polygon (Smart Contract Coin) | 1.00 | -0.2% | 40 | -42 | 88 | 56 |
Stellar (Privacy Coin) | 0.09 | -0.3% | 43 | 8 | -92 | -67 |
DogeCoin (Memecoin) | 0.08 | -0.2% | 53 | -75 | -88 | -85 |
Theta Token (Gaming Coin) | 1.01 | -0.4% | 47 | -83 | -88 | -87 |
Avalanche (Smart Contract Coin) | 17.44 | -1.2% | 50 | -42 | -88 | -77 |
Polkadot (Cross Chain Coin) | 5.86 | -1.7% | 45 | -83 | -92 | -90 |
The Sandbox (Gaming Coin) | 0.58 | -1.8% | 42 | -83 | -88 | -87 |
Near (Smart Contract Coin) | 1.87 | -2.8% | 46 | -83 | -88 | -87 |
Cardano (Smart Contract Coin) | 0.39 | -2.6% | 53 | 8 | -88 | -64 |
XRP (Smart Contract Coin) | 0.47 | -2.6% | 37 | 8 | -88 | -64 |
Solana (Smart Contract Coin) | 22.87 | -2.3% | 55 | -33 | -88 | -74 |
Decentraland (Gaming Coin) | 0.54 | -2.2% | 43 | -75 | -88 | -85 |
Cosmos (Smart Contract Coin) | 11.24 | -4.2% | 48 | -75 | -88 | -85 |
Secondary coins were modestly lower on the week for the most part, the better performers were Monero and Fantom up 3.1% and 2.7% respectively.