Cryptocurrency Market Analysis [November 23]
Cryptocurrency Practical Investment Articles November 23
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Here is the ranking of domestic and international exchanges I select
which is shown below↓↓
https://bitcoin-newstart.com/bitcoin-account
【Cryptocurrency Market Analysis】
The price movements of cryptocurrencies since last week
are summarized as follows for the one-week period
Summary: current price (change from one week ago)
Bitcoin6,500,000 yen (-10％)
Ethereum
4,770(-8%）
Ripple120 yen（-10％）
Polkadot4,500 yen（-11%）
Binance Coin64,000 yen(-10％）
Cardano208 yen（-10%）
Uniswap2,400 yen（-10%）
ICP 4,700 yen（-10％）
Solana25,000 yen(-8%)
Avalanche 15,000 yen(41%)
Bitcoin has fallen sharply from last week’s7,500,000 yen to
currently around 6,500,000 yen.
Bitcoin Daily Chart
Bitcoin has entered a 10% weekly decline, causing the whole market to fall.
On the chart, the red circles indicate the
late October price of 6,600,000 yen, which is the neck line, and
if this is broken, prices are expected to fall further,
based on technical analysis, but currently at 6,500,000 yen it has not yet
completely broken to the downside.
Nevertheless, even in such a situation,
last week, metaverse stocksRNDR, andAVAX
and other stocks drew major attention by reaching new highs.
In the past, when Bitcoin fell sharply,
other currencies would fall even more,
but now some currencies rise, contrary to that trend,
and the market movements have changed compared to before.
【Cryptocurrencies Updating to All-Time High】
In this reversal market, there were cryptocurrencies
that posted new all-time highs.
·RNDR
·Avalanche (AVAX）
·CRO
have done so.
Among themRNDR, Decentraland, and The Sandbox
are referred to as metaverse stocks.
Regarding RNDR in particular, recently there has been active
talk of partnerships with other companies and with Solana’s blockchain,
and next month there are expectations for news related to
staking services.
As I mentioned last week,RNDR’sNFTfield’s
popularity is rising, known as an advisor for widespread adoption
Beeple digital art was sold for 3.3 billion yen at Christie’s in the UK,
which I think helps raise its visibility.
The Sandbox is still a point of discussion,
with Adidas, a sportswear maker, reportedly involved in a tweet about a partnership
that may have influenced things.
Inside The Sandbox’s metaverse (virtual space),
land prices are surging,
and the possibility of Adidas branding on that land
has led some to speculate that Adidas purchased land within The Sandbox.
I, for my part, have already sold The Sandbox at its peak this year to take profits,
and I feel a bit惜しい (bit regretful), but besides that
I still hold other metaverse stocks and will continue to monitor their movements.
I plan to watch their future performance.
Also, regarding smart contract projects,
Avalanche (AVAX） has
surged significantly and reached a new all-time high
.
Deloitte, a major consulting firm, announced last week that it partnered with Ava Labs in September 2020 to launch the coin, and will use Avalanche’s blockchain to support Deloitte’s work with FEMA (Federal Emergency Management Agency),
From such news, attention has focused on Avalanche’s chain.
【CRO About】
Among these,CRO is known as the exchange token of Crypto.com, based in Singapore.
First, on November 3, listing on the major US exchange
Coinbase
later, last week, Crypto.com bought the naming rights for the home arena of the Los Angeles Lakers, for about 800 billion yen (valid for 20 years),
which further pushed its price up.
Such actions by Crypto.com effectively function as a marketing strategy,
resulting inCRO price increases and a surge in trading volume for the Crypto.com exchange.
Going forward, I will watch how naming rights purchases in the US will affect exchanges in the medium to long term.
