Cryptocurrency market analysis 【March 8】
Cryptocurrency Practical Investment Article March 8
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【Awarded 5th place in MagMag Magazines Award】
The major magazine site MagMag in 2020 announced the
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（Reference）5th place in MagMag’s cryptocurrency newsletter assets management category in 2020!!
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https://bitcoin-newstart.com/2020magmag
【Cryptocurrency Market Analysis】
From last week, the price movements of cryptocurrencies
over one week are summarized as follows
Display: Current price (change from one week ago)
Bitcoin4,900,000 yen(-4.5％)
Ethereum32,000 yen(-6.7%）
Ripple87 yen（-3.5％）
Cardano98 yen（-11%）
Polkadot2,000 yen（-4.4%）
Binance Coin45,000 yen(-2.7％）
Solana10,250 yen(-9%)
Avalanche 9,000 yen(-8.9%)
Uniswap1,000 yen（-10%）
ICP 2,000 yen（-7.7％）
Bitcoin has slightly fallen from last week's 5.1 million yen.
Bitcoin Daily Chart
Looking at a week, it dropped once from 5.1 million yen and is rising along a red horizontal line on the chart.
As mentioned last week, looking at the current Bitcoin price, it is in a range between 4.0 and 5.1 million yen.
In cryptocurrency terms, it has been influenced to some extent by the Ukraine-Russia situation, and the big question is what role cryptocurrencies will play in such circumstances.
As mentioned last week, due to the collapse of Russia’s currency ruble, Russians living abroad are in a disadvantageous position with reduced ruble assets and the inability to use credit cards.
Also, the Ukrainian government has been receiving many donations via cryptocurrency, and refugees who hold cryptocurrency could exchange it for goods or cash at their evacuation destinations. Various changes in the environment are occurring.
Also, recently there was a topic about the U.S. government’s cryptocurrency regulation executive order
We were watching what would come out.
There was a速報 (breaking news) report.
Contents include
・An collaborative and comprehensive approach to regulating digital assets
・Support for responsible innovation that can bring substantial benefits to homes, consumers, and businesses
・Progress in identifying risks of illegal finance using cryptocurrencies (especially stablecoins)
This is what it says.
In terms of content, it seems they aim to balance regulation with practicality.
The United States has previously stated it would not ban cryptocurrencies, so that should be fine. The remaining factor is personally how regulatory measures would apply to individuals' wallets (not subject to government influence).
In the Ukraine war, refugees holding cryptocurrencies in personal wallets can transfer assets more easily than if they kept them at exchanges, which could be advantageous.
Also, details on how donated funds are used are covered in the following article.
“Since Russia’s invasion of Ukraine, cryptocurrency assets such as Bitcoin (BTC) and Ethereum (ETH) have raised over 60 million dollars (approximately 70 billion yen), and some of this has been used to purchase fuel, food, and even bulletproof vests for soldiers.”
According to the deputy minister, the Ministry of Digital Transformation is assisting in the purchase of military equipment based on the Ministry of Defense’s requests, setting up donation addresses for Ukraine’s crypto exchanges Kuna,Kuna,2 ministries,5 signatories (key holders), and other government officials are involved as key players.”
https://www.coindeskjapan.com/142629/?utm_source=twitter&utm_medium=ifttt
【SoftBank invests in Metaverse related companies】
“SoftBank Group’sSoftBank Vision Fund 2was revealed last month to have led the SeriesB1round funding for the metaverse (virtual reality) related companySoul Machines.
Even earlier this year, SoftBank’s investments have stood out among VCs.
“21st month,11SoftBank Vision Fund 2, through the “, they led funding rounds for the metaversegame “The Sandbox (SAND)” with 100 billion yen (approximately 930 million dollars).12 month, they invested about 17 billion yen in Korea’sZepeto, a metaverse platform, and the same fund also participated in the fundraising for the blockchain project “Aleo” announced in February 2022. Additionally, the US arm of the cryptocurrency exchangeFTX, “FTX.US,” announced in January that SoftBank Vision Fund 2 participated in a funding round of four hundred million dollars (approximately 46 billion yen).
Thus SoftBank is actively investing in metaverse, blockchain, and exchanges, and there are other investments as well, includingPolygon.
It gives a strong impression of aggressive expansion.
The data below shows VC investments since 2022, where SoftBank’s prominence is unsurprising.
VCinvestments by sector may serve as one of the indicators of the industry’s future trends.
In global lists known for token sales, such as CoinList, there is an increasing impression of projects related to blockchain games, Solana, and Cosmos.
