Cryptocurrency Market Analysis [March 29]
Virtual Currency Practical Investment Newsletter March 29
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Here is the ranking of domestic and international exchanges I choose
scroll down for details
http://bitcoin-newstart.com/exchange-japan-bitcoin
This month, the domestic monthly FX magazine FX Hit Guide (FX攻略.com)
has unfortunately published its final issue. Despite being a FX magazine, I have contributed cryptocurrency
column articles for more than a year
Thank you very much to readers and all involved
【Crypto Market Analysis】
The price changes of cryptocurrencies over the past week
are summarized as follows
Display: current price (change from a week earlier)
Bitcoin
6,350,000 yen (2%)
Ethereum
195,000 yen (-% )
Ripple61 yen (-%)
Polkadot3,800 yen (-5%)
Binance Coin30,000 yen (-%)
Cardano133 yen (2.5%)
NEM41 yen (-%)
Last week, Bitcoin was said to be converging around 6.2 million yen
but then its price broke above that level.
From the high of 6.8 million yen,
are converging, and the price has broken up from there.
The target price at present is the 6.8 million yen level recorded in mid-March.
Bitcoin daily chart
Last week, major automaker Tesla
announced that it would accept Bitcoin as payment.
I did not expect Tesla to provide such payment option so soon.
For now, this payment seems to be limited to the United States.
When Tesla receives Bitcoin as payment, it is reported that they will hold it as is, but I am not sure.
Bitcoin has price volatility, so even if accepted, it might be held only partially.
This adoption by a global major company is very positive and I believe it will influence other companies to some extent in the future.
【Uniswap'sV3】
There is a decentralized exchange called Uniswap, which is in a different category from centralized exchanges run by people.
Uniswap will upgrade to
V3 in May, and trading fees are expected to become cheaper.
Uniswap, as a decentralized exchange, offers advantages because
you can trade directly from your wallet, increasing security.
It also allows trading of various currencies,
which enables you to buy into coins before price rises.
These are the benefits I particularly value.
However, currently, the Ethereum network is congested, causing high fees of around 2,000 to 3,000 yen per trade,
which tends to limit users with substantial assets.
In MayV3 will introduce a mechanism to lower fees,
which could lead to a significant increase in users.
Liquidity provision (LP) is another service where you receive interest, but
this too is expected to change in its specifications.
Uniswap is built on the Ethereum
network, so movements in this area are closely tied to Ethereum’s development.
【VISAusing cryptocurrencyUSDC for payments】
Payment giant
VISAhas enabled payments usingUSDC.
This is not direct cryptocurrency settlement, but settlement carried out via
USDC.
Similarly, major payment company
MasterCard announced in 2021 that it would
support direct cryptocurrency settlements.
USDC is a dollar-pegged cryptocurrency.
VISA adoptingUSDC
USDC is not about which network it uses;
the key point is what network it operates on.
＊USDC is dollar-linked, so holding it does not inherently increase assets.
By the way, last week on CoinList, Caspar’s
token sale accepted
USDT andUSDC
as investment currencies.＊Both are dollar-linked cryptocurrencies.
【 Fidelity BitcoinETF
Application Filed
U.S. major financial institution
FidelitySEChas been
BitcoinETFapplication submitted.
Since December last year, corporate Bitcoin
ETFapplications have continued,
with the earliest deadline at the end of April
(possible delay).
Fidelity this time is a well-established
major financial institution, and
unprecedentedETFapproval potential
is high, making it likely.
In the past, Bitcoin
ETFapplicationswere submitted in March 2017, and
were rejected in 2018 and 2019,
and so on, but all were refused.
However, since Fidelity and other financial giants had not yet filed,
this news is very positive.
Additionally, Fidelity's own report recommends
