Cryptocurrency Market Analysis [April 11]
Virtual Currency Practical Investment Article April 11
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【Cryptocurrency Market Analysis】
The price movement of cryptocurrencies since last week
(one week) is summarized below
as follows
Display: Current price (change from one week ago)
※From now on, prices are shown in dollars (cryptocurrencies are often sourced from overseas, so dollar notation is easier to express).
※11 USD = 134 JPY
Bitcoin30000dollars (8％)
Ethereum1921dollars(6%）
Binance Coin331dollars(7％）
Ripple0.52dollars（5％）
Solana23dollars(13%)
Cardano0.4dollars（5%）
Polkadot6.4dollars（0.6%）
Avalanche 18.5dollars(8%)
Uniswap6dollars（1.8%）
Bitcoin daily chart (USD)
Last week, Bitcoin again reached 28,000 dollars, and finally broke through the milestone price of 30,000 dollars. In Japanese yen, it recorded 4,000,000 yen.
From current perspective
○Target price is 32,000 dollars (level of May last year)
○Breaking above the 200-day moving average
and the uptrend continues.
Since the start of the year, the price increase has been 71%, a standout performance even compared with gold and commodities.
I feel concerns about US currency inflation are among the factors.
The weekly chart analysis is as follows.
Weekly chart
• Break above the 200-day moving average (orange line) and rising
Looking at the weekly chart, for the last three weeks (three candles) most prices have converged at nearly the same level, but with the current candle, prices rose sharply to reach $30,000.
From the weekly chart, the current price is at the level where prices fell sharply in May 2021.
Nice clean lines, aren’t they.
In 2021, who would have predicted it would reach 70,000 dollars by the end of the year? Currently there are recession fears, so the situation is different from 2021, but the cryptocurrency market is gradually moving up from a low base.
AIFunding for specialized blockchains
Zero-knowledge proof (ZK) used Layer2 blockchainCryptoGPT isAI (artificial intelligence) and, as interest grows, the seriesA funding rounds1000 million dollars (approximately13 billion4,000 million yen,1 dollar134 yen conversion) has been raised
The round was led by market makerDWF Labs, and according to the statementCryptoGPT valued at2 hundred and fifty million dollars (about335 billion yen) in valuation.
https://www.coindeskjapan.com/180561/
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ZK is one of the most notable technologiesL2 (layer-2) within Ethereum’sL2 ecosystem.
This timeCryptoGPT provides AI and adopts a monetization mechanism by offering various services, but it has recently attracted attention in fundraising.
The current project cryptocurrencyGPT did not react strongly to this news, but it surely drew more attention. Its current market capitalization is 771st.
Liberal Democratic Partyweb3PT and the taxation of cryptocurrency trading
Liberal Democratic Party Digital Society Promotion Headquartersweb3Project Team (PT) released on the 6th the proposalweb3White Paper (draft)
In this proposal by the Liberal Democratic Party, attention focused on tax reforms led by MP Hiraki.
The cryptocurrency tax system is currently progressive taxation, with up to 55% tax, inability to carry forward losses, and taxation on cryptocurrency-to-crypto swaps, making profit/loss calculations complex. The proposal touches on improvements to these issues.
Previously, organizations like the Blockchain Association made policy recommendations to the government, but this time the Liberal Democratic Party itself is taking the lead, which is notable.
In many overseas places, taxation for holding for more than one year and selling is uniformly 20% to protect investors; in Japan, however, the situation had not progressed with changes. How具体的ly will these recommendations translate into action?
Solana announces new data storage technology “State Compression”; NFT issuing costs drastically reduced to maximum 24,000 times cheaper
The Solana project for cryptocurrency (SOL) announced on the 6th a new data storage technology called “State Compression.
One use case mentioned is massive NFT issuance. On Solana’s blockchain, issuing 1,000,000 NFTs in the usual way would cost about 3,290 man-yen (about25 million USD), but by using State Compression, it would cost about 1,440,000 yen (about110 dollars).
Solana is one of the Layer 1 blockchain assets and is available domestically as well.
Last year, after FTX’s collapse, the price dropped significantly, but trading in NFTs seems to be increasing.
Bitcoin Whitepaper Found Inside a Mac by Apple
The whitepaper for Bitcoin (BTC) is suspected to be hidden inside all versions of Apple’s macOS since 2018’s Mojave.
It’s news that Bitcoin’s whitepaper (the specification written about Bitcoin) has been found on widely used Macs.
There has been no official comment from Apple, but this is a very puzzling development.
Reddit, Polygon NFT Avatar Gen3 contracts Implemented
Reddit, the popular forum, on the 6th implemented contracts for the third generation of NFT avatars called “Reddit Collectible Avatars” on the Polygon (MATIC) blockchain, creating Gen3.
Polygon, a chain often adopted by major companies for NFT, has another news item.
PolygonThe chain’s reliability is considered quite high.
matic domestically traded
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(This article has been distributed since 2016)
