DONATE & Share Post Your Content On Smart Money Management

Search This Blog

Friday, May 07, 2021

Crypto news & updates going into the weekend

Crypto news & updates going into the weekend

ADA / USD KRAKEN:ADAUSD

We have recently been discussing Crypto more and more & wanted to put together a quick summary of some mentioned in the image. In some instances, there is not much of an analysis to be done on them.

So here's a few interesting stories to close out this week.

One of the big moves this week was Doge overtaking XRP in terms of market cap. This is actually interesting as there are a couple of coins contending for the space, a little swing in either direction is swapping out the 4th spot potentially.

We have Doge with (as of now) $81,114,574,049 and then XRP $73,188,863,309

The Headline read "Dogecoin Price Finally Tops 69 Cents, Flips XRP to Become Top-4 Crypto" Will it stay there? Will it be Ripple taking it back or will we see a rise from some of the one's lower in this list?

snapshot

The gains continue the mind-blowing ascent of the meme-based cryptocurrency that is now the fourth-most valuable crypto in the world. DOGE is now up an eye-watering 13,611% year to date and is up 1,017% over a 30-day period, according to data at Messari.

Linked to the same point - Elon Musk warns crypto fans to 'invest with caution' as Dogecoin explodes. The Telsa boss could send Dogecoin to the moon on his SNL spot, but he's now telling people to be careful.

This week we have also seen ADA (Cardano) break out vs. Bitcoin as ADA price discovery nears $2...

A move that an increasing number of large-cap altcoins are seeking to copy, ADA gained impressively during the past few days, going from below $1.30 to the highs as sell walls disappeared.

We also had news that Cardano has been Nominated for Blockchain Solution of the Year. Will this have a major impact in the coming weeks?

------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

What about Stellar? ( XLM ) Making a Move Higher on VISA, Tala Announcements? It is enjoying a bullish momentum as we head into the weekend, in line with the positive sentiment in the overall crypto market and global financial markets in general. XLM /USD is trading around $0.64.

BTT is giving us a slightly down esq sentiment at the moment, are we expecting a rally or will it continue to fall?
snapshot

If we look at some winners - how about BNB? Based on the assumption that BNB’s market cap stays at $100 Billion it will currently remain in the 3rd spot behind only ETH and BTC .

And on ETH - I feel we are consolidating at the top of an Elliott 3 weekly move.
snapshot

In the news - Crypto Briefing’s CB10 Index Sees Large Rebalance to ETH, DOGE. Will this be the driver for the consolidation and drop?

Sol - going well on the chart, however - Burnt Finance Raises $3M For A Solana-based NFT Marketplace; Famous for Burning Banksy Art Piece. This could be enough exposure to give it another lease of life?
snapshot

Theta sideways
snapshot

Tron - Class actions against Binance, Tron and others stumble after Bibox court victory. At the beginning of April of last year a flurry of class-action lawsuits took aim at many of the biggest names in crypto. In recent weeks, court developments have cast doubt on the future of those legal efforts. Leading the cases were law firms Roche Freedman and Selendy & Gay. Already well-known in crypto circles for a suit against Tether and BitFinex and another against Craig Wright, on April 3, 2020, the firms filed class-action suits against Binance, Tron, BitMEX, KuCoin, Bibox, Civic, Kaydex, Quantstamp and Status.

Overall it's been an interesting week. Seeing BTC more or less sideways. Let's see what the weekend will bring.

I think it might be a case of a dip in BTC & a rise in some altcoins.

Fun times!







Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.

from TradingView Ideas https://ift.tt/3xUYLaA
via gqrds

No comments: