Cryptocurrency Market Analysis [July 6]

Crypto Practicum Investment Newsletter July 6

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In the Newsletter’sQ&Asection, we will introduce some points.

Here is a ranking of domestic and overseas exchanges that I select

Click here↓↓

https://bitcoin-newstart.com/bitcoin-account

【Cryptocurrency Market Analysis】

The price movement of cryptocurrencies since last week

(over the past week) is summarized as follows

Summary: Current price (change over the past week)

Bitcoin

380万円（-％）

Ethereum

253000円(15%）

Ripple75円（5％）

Polkadot1700円（4%）

Binance Coin33000円（4％）

Cardano158円（6%）

Uniswap2200円（19%）

ICP　5100円（9％）

Bitcoin is at the same price range as last week's 3.8 million yen.

From 3.8 million to 3.5 million yen, it fell, but then rebounded and reached the same price level as last week.

Bitcoin daily chart

Since mid-May, a short-term range has been forming, but it has not yet broken out of that range.

The upper bound of the range was around 4.4 million yen, but in the current short-term range, the upper bound is around 4.0 million yen. It is a short-term situation, but the peak is decreasing.

For Bitcoin, direction is difficult to read.

Currently there is close attention on regulatory matters and the adoption of Bitcoin as legal tender in various countries, but

some experts see a positive medium-to-long-term outlook, while short-term price movements are hard to grasp.

Until mid-May this year when cryptocurrency prices were rising, Bitcoin was discussed as possibly hitting 10,000,000 yen within the year, but the current range-trading outlook is unclear, making forecasts less certain.

Because the current Bitcoin price is around 4,000,000 yen, a rise to about double to 10,000,000 yen is possible, and considering past gains, it could be within reach, but the market is in a downward adjustment now, so how long this adjustment will last is uncertain.

What level would institutional investors need to buy Bitcoin at?

We may be thinking about this.

【Coincheck IEO has startedIEOand reached the planned amount of 900 million yen】

At Coincheck, a domestic cryptocurrency exchange, on July 1 at 12:00, domestic first

IEOstarted.]

As mentioned last week,

unexpectedly,Palette(Palette)

tokens worth about 900 million yen sold out immediately.

IEOregistrations continue until July 15

and people who do not have a Coincheck account may open one now; after completing account opening,

IEOparticipation is possible.

Since the planned amount was exceeded, it is expected that, at the finish on the 15th, a lottery will be conducted for applicants.

People who participated in Coincheck’sIEOmay differ in their application amounts, but depending on the lottery results, PLT price manipulation could be facilitated, so the operators should be careful about this area.

If large investors are given preferential treatment in the lottery,

large investors’ selling couldPLTgreatly depress the price, causing more investors to incur losses, which could lead to negative outcomes.

If Coincheck knows about large investors, they may favor mid- to long-term investors who will not sell quickly.

How exactly the lottery will be conducted is unclear, but it is a test of Coincheck’s capabilities.

Regarding Coincheck account opening, if you use a smartphone, it can normally be completed in one to two days.

（Reference）eKYCinformation

https://bitcoin-newstart.com/ekyc

（Reference）Palette（Palette）的IEOinformation

https://bitcoin-newstart.com/palette-nft

【Ethereum London

Upgrade scheduled for end of July】

The London upgrade, which reduces miners’ fees, improves scalability, and increases price upside,

is planned for the end of this month.

With the Ethereum 2.0 upgrade in sight, staking numbers are steadily increasing,

and Ethereum is attracting a great deal of expectation.

Considering the rise in cryptocurrency prices since last week, Bitcoin is at the same level, while Ethereum has risen about 15%.

Although the market is currently stuck in a range, Ethereum is clearly showing its presence.

Since 2020, institutional investors have been buying Bitcoin, but I personally expect Ethereum to attract more institutional demand as early as this year or 2022.

(Just my view)

Also around Ethereum,DeFihas been active,

with the spread of cheaper fees,L2solutions,

and firms offering fixed-rate services of 4% through compounds,

providing services not common in traditional financial institutions.

This trend further highlights Ethereum’s presence.

（Reference）→ Ethereum London Upgrade (EIP1559）

https://bitcoin-newstart.com/eip1559-eth

【Polkadot listed on BitFlyer】

Polkadot (DOT) was listed on the domestic major exchange BitFlyer.

Polkadot was founded by Gavin Wood, a former Ethereum co-founder, and in 2017 raised about 17 billion yen in funding.

Polkadot employs a parachain approach that links different blockchains (Bitcoin, Ethereum, etc.),

allowing third-party projects to create applications and offer services on the network.

Polkadot currently conducts auctions among ecosystem participants and selects participants,

and looking ahead, it is a key point of interest which projects will build on Polkadot.

As a domestic cryptocurrency listed on major exchanges, it is a major project.

（Reference）Reasons Polkadot attracts institutional investors

https://bitcoin-newstart.com/polkadot210702

BitFlyer Features

https://bitcoin-newstart.com/bitflyer

【HighAPYprojects to watch】

Projects offering high annual yields

and the mechanism behind them include,TITANwhich recently caused large losses to investors

TITANto become worthless,

TITANowners largely suffered

TITANkicked things offLavaandPolyOrca

where investors seeking high yields are exiting as wave after wave of returns

have drawn many in to participate

and are now exiting.

Such highAPYofferings attract many investors chasing the yield,

but when larger holders exit, selling pressure grows,

causing many investors to incur losses.

In my view, these are highly speculative, so anyone considering such projects should thoroughly evaluate the project itself.

（Reference）CryptocurrencyTITANcollapsed dramatically—learn from losses

https://bitcoin-newstart.com/titan-lose