Cryptocurrency Market Analysis [September 21]

Practical Cryptocurrency Investment Newsletter September 21

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Theランキング of domestic and international exchanges I choose

is here↓↓

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

【Cryptocurrency Market Analysis】

The price fluctuations of cryptocurrencies from last week

(over the past week) are summarized as follows

Display: current price (change from one week ago)

Bitcoin

5,030,000 yen (-1%)

Ethereum

35,000 yen (-6%）

Ripple109 yen（-11％）

Polkadot3820 yen（7%）

Binance Coin43000 yen(-5％）

Cardano240 yen（-5%）

Uniswap2500 yen（-4%）

ICP　5900 yen（-10％）

Solana16000 yen(-16%)

Avalanche 7200 yen(10%)

Bitcoin is at the same price level as last week's 5,030,000 yen

and remains at that level.

Bitcoin daily chart

Bitcoin is currently around the 200-day moving average

The 200-day moving average is well-known as a noticeable technical indicator, and in this state it is watched to see how prices move.

The nearest recent low is 4.8 million yen,

and if the price breaks below the moving average,

we expect it may hit this point once and reverse.

Typically, September trading is known for being difficult to move

for NFTNFTandDeFitrades, with some investors expecting a cooling period.

Although August often cooled, Bitcoin made a strong rebound from late July,

so consider this as a reference point.

As for Bitcoin news, a famous fund Arc Investments

made Bitcoin ETF available to purchase in CanadaETF,

though not yet in the United States, Canada has officially

BitcoinETFrecognized, allowing purchases of securities linked to Bitcoin (

ETF).

ETFoffers lower fees and, since it’s a security, taxed as stocks.

Arc Investments is also involved in private (Grayscale) Bitcoin investment trusts,

but private funds carry a premium and you must pay more than the normal Bitcoin price.

In that sense, turning to the publicly listed Bitcoin ETF in Canada is a better option.

Arc Investments itself has also filed with the US

BitcoinETFfor listing, and Arc Investments is applying to list an ETF.

ETFs represent a major fundamental that could attract many investors to Bitcoin,

but the SEC has been tightening regulations and pursuing lawsuits against crypto-related companies, so the timing of approvals is uncertain.

I think it will be approved someday.

【Ethereum’sL2is in a war of champions】

※ Total Value Locked refers to deposits in Arbitrum

In last week's issue, Ethereum’sL2 which was released,

Arbitrum recorded deposits exceeding 16 trillion yen.

Deposits refer to funds moved from Ethereum’s main chain

toL1（Layer 1） toarbitrum’sL2（Layer 2）

to be held as cryptocurrency.

Once moved to L2, transactions within L2 are faster

However,Arbitrum has faced issues with congestion

leading to transaction halts due to overload.

Arbitrum is not yet fully launched,

and it’s unclear why such a high volume emerged.

Arbitrum is on the mainnet, but

stillβ version, so in the future it is expected to withstand larger trading volumes.

I think.

Sorry for the lengthy preface,

Regarding Ethereum’sL2,

Apart from Arbitrum,optimisticm

such mainL2exist, and we are watching how they will unfold.

Thus, distributing L2 chains can bring advantages in transaction processing and security.

However, in terms of security, L1 is higher than L2,L1 is stronger, and by distributing transactions over L2,

Also, it is unclear whether individual L2s like Arbitrum will issue their own currencies, butL2chain services will be worth watching.

【Elon Musk tweets about cryptocurrency again】

On September 17, CEO of Twitter

Jack Dorsey tweeted “crypto,”

Tesla’sCEO Elon Musk

“that’s my safe word too（That’s my safe word too）

He positively commented on cryptocurrency.

Actually in 2020, Elon Musk said

“bitcoin is not my safe word”

indicating that Bitcoin is not his safe word.

This time, it is not about a specific cryptocurrency like Bitcoin, but about the entire crypto space (

crypto).

Elon Musk has used the word safeword to describethe crypto space.

For Elon Musk, digital assets like cryptocurrencies are becoming more and more important, it seems.

【FLOW cryptocurrency forms a partnership with Google Cloud】

Google Cloud has partnered withdapperlabo to

support FLOW’s blockchain

FLOW has its own blockchain similar to Ethereum,

andNBA’sNFTs releaseon

FLOW and is partnered in NBAtopshot.

NBAtopshot is a marketplace for NBA

Thus, corporate use of specific blockchains is expected to accelerate further.

FLOW,FLOW isNFT, Warner Music,

UBISOFT (gaming) and other entertainment-focused collaborations stand out.

In 2020, FLOW underwent a token sale,

and FLOW initially priced at about 10 yen but now exceeds 2,000 yen, showing a huge rise.

However, this was because participants could not sell FLOW tokens for a year after the sale,

I also participated in FLOW’s token sale, so I hold FLOW,and I’m curious about how things will unfold.

By the way, I think I clearly stated at the time about FLOW in this article as well.

FLOW projects recognized properly lead to future value,

(Reference article)

FLOWIs earning big from staking? Rise in FLOW after token sale

https://bitcoin-newstart.com/flow-staking

【AVALANCHE draws attention】

Avalanche (AVALANCHE), which conducted a token sale in 2020,

has surged greatly since last week.

This year's rise is up to 20x.

The cryptocurrency of Avalanche is calledAVAX.

AVAX

Why Avalanche is attracting attention

is due to the upgrade of Avalanche

andVC funding of 25 billion yen.

Avalanche provides various services on its own blockchain,

but compatibility with Ethereum’s blockchain is also considered.

In the future, on Avalanche, DeFi andNFT are expected to be deployed, continuing the trend mentioned last week with

There are already major DEXs like

poligontraderJOE

Keyexists, and crypto deposits are increasing.

Solana’s major overseas exchangeFTX backs it,

andAVAX

This level of attention confirms that Avalanche is recognized as one of the leading chains.