Virtual currency market analysis [August 31]

Cryptocurrency Practical Investment Newsletter August 30

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The ranking of domestic and international exchanges I choose

is here↓↓

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

【Cryptocurrency Market Analysis】

We summarize the price fluctuations of cryptocurrencies over the past week as follows

from last week (one week).

Display: current price (change from one week earlier)

Bitcoin

5,300,000 yen (-2.4%)

Ethereum

350,000 yen (-1.7%）

Ripple125 yen（-7％）

Polkadot2,763 yen（-9.4%）

Binance Coin52,000 yen(6％）

Cardano311 yen（-%）

Uniswap2,800 yen（-7%）

ICP　7,500 yen（6％）

Bitcoin has slightly decreased from last week's5,500万円

to around5,200万円

and is moving at that price level.

Bitcoin daily chart

Bitcoin has been moving sideways since last week’s price.

It can be said that the price is stopping near the neckline of the head-and-shoulders pattern in the high-price range through mid-May.

If, as I mentioned last week, this line is breached, the move toward a high of 7,000,000 yen may become more realistic.

Also, since the orange line already crosses above the 200-day moving average, personally I am positive about Bitcoin’s price.

【Ethereum price】

Solana exceeding 10,000 yen has caused a surge, and Cardano

ADA has similarly surged.

Ethereum’s price has been somewhat flat within this surge.

Compared with the last month, Ethereum is up about 30%

Solana up about 210%

CardanoADA up about 116%

and the rise is quite pronounced.

Recently, NFT prices have been rising notablyNFT

ManyNFTare traded on the Ethereum blockchain.

Therefore, there is information suggesting that some sell NFTs (mainly art) to obtain Ethereum as cash and convert it to fiat.

However, since prices are not rising much, this does not necessarily mean negativity; rather, it indicates that Ethereum’s blockchain is being used.

In August, Ethereum’sEIP1559 reduces transaction fees, and many Ethereum is being burned, increasing its rarity on the other hand.

【VISA purchased NFT for 18 million yen】VISApurchased an NFT

A global payment company,VISA bought a CryptoPunk

— the earliest NFT —NFT for about 50 ETH (18 million yen).

CryptoPunks are distinctive portraits drawn with dots.

VISA has

“Over the past 60 years, Visa has built a collection of historical commerce artifacts, from early paper cards to zip-zap machines. Today, as we enter a new era of NFT commerce, Visa welcomes CryptoPunk #7610 into our collection.”

This comment has been released.

VISA buying NFT is very interesting

It can be said: when Visa purchases NFT and Ethereum is used for payment, this implies that Visa itself may own cryptocurrency.

Ethereum, a digital currency, is in some sense opposite to current fiat money.

Because it is on the blockchain, it is not under government control.

In such a context,VISA paying with Ethereum to purchase CryptoPunks

is very interesting, and it makes you feel thatVISA might itself own cryptocurrency.

NFT— digital art on the blockchain —

is gaining value in this era, and for a major global payment company like

VISA to purchase it suggests we are at a milestone in the era.

As mentioned in the previous item, if NFT prices rise and Ethereum is used for purchases, there is a possibility that operators sell Ethereum to raise funds.

(One reason for price stagnation)

In fact, today (the 30th) Rakuten announced it will begin NFT business next spring.

This suggests NFT activity may grow domestically as well.

In July, Coincheck’s IEO PalettePalette raised nearly 900 million yen, and will also begin NFT-related activities.

With Rakuten entering, it is worth watching how NFT value will evolve.

（Reference site）

https://news.yahoo.co.jp/articles/77e3ebe57e2afb678332cb05c4ad260a6f8c172a

【CoinList Token Sale】

It’s been a while since a token sale has caught my eye.

immutableX is a token sale related to the blockchain gameNFT ecosystem.

Currently, NFT in the art field is very active, but

In the future, in blockchain games, the number ofNFT will continue to increase.

In-game characters and weapons are traded asNFT between individuals.

Investments from big crypto players like Coinbase,

and the adoption of Zkrollup, which makes transaction fees effectively freeZkrollup (Ethereum-related blockchain), indicate this project is at the cutting edge.

This is one of the projects I personally find interesting.

(Reference)（Reference）immutableXimmutableX Token sale details Token sale details

https://bitcoin-newstart.com/immutablex-coinlisthttps://bitcoin-newstart.com/immutablex-coinlist

solanasolana Projects related toSOLANA are becoming active Projects related to SOLANA are becoming active

Currently, SOLANA is making a big riseCurrently, SOLANA has seen a significant risesolanasolana (Solana) (Solana)

Solana is sometimes called an Ethereum killer,Solana is sometimes called Ethereum killer,

a blockchain that enables fast transactions.a blockchain that enables fast transactions.

In current projects, it is still far from Ethereum,In current projects, it is still far from Ethereum,

but with SOLANA-poweredbut with SOLANA-based

NFTNFT marketplaces (where you can buy and sell marketplaces (where you can buy and sellNFTNFT), wallets, and various other ventures are emerging.), wallets, and various ventures are emerging.

CryptoPunks, Ethereum’s oldest NFT, hold significant value, and many expect Solana-relatedCryptoPunks, Ethereum’s oldest NFT, retain significant value, so many are watching Solana-basedNFTNFT to emerge and attract attention. developments with attention.

The advantages of Solana include processing many transactions quickly at low fees.The benefit of using Solana is that many transactions can be processed quickly with low fees.

Recently, a Solana-based platform called compendium.Fi has started, enabling management of Solana and functioning as a wallet, connecting with decentralized exchanges like SerumRecently, a Solana-based platform called compedium.Fi has started, functioning as a platform that manages Solana and acts as a wallet, connecting to decentralized exchanges likeSerum to be usable.

to be usable as a platform. This is an example of frontier-level projects.This is indicative of the frontier in services.

One of the projects I personally find interesting.I’m curious to see how such projects will expand services and attract many users, as Solana’s future price and applications will be greatly affected by this.

（Reference）compedimu.Fi is

https://bitcoin-newstart.com/compendiumfi

【 NFT NFT NFT trading requires caution with MetaMask】

NFTAs NFT trading expands, many people use the web wallet MetaMask, and last week a reader reported funds were stolen in a hacking incident.

With web wallets like MetaMask, while they are convenient, if your secret keys are exposed, you can have funds stolen through rapid unauthorized transfers.

Therefore, secret keys must be kept securely offline.

Write them on paper and store securely, and do not keep them on a computer or online.

As assets grow, security can become lax, so maintaining constant security awareness is important.

https://bitcoin-newstart.com/metamask-security