Cryptocurrency market analysis [September 12]

Practical Cryptocurrency Investment Article September 12

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【Cryptocurrency Market Analysis】

The price fluctuations of cryptocurrencies since last week

(for one week) are summarized as follows

Display: Current price (change from one week ago)

※From this time, we will use dollar notation.

（Since much information about cryptocurrencies comes from overseas, dollar notation is easier to express）

※1Dollar =139 Yen

Bitcoin26,300 Dollars（2％）

Ethereum1,600 Dollars(-1%）

Binance Coin212 Dollars(-1％）

Ripple0.48 Dollars（-4％）

Solana18 Dollars(-8%)

Cardano0.25 Dollars（-2%）

Polkadot4.0 Dollars（3%）

MATIC　0.25 Dollars(-8%)

Avalanche 9.3 Dollars(-4%)

Uniswap4.2 Dollars（-1%）

Bitcoin did not move much on a weekly basis last week1 week over week.

Bitcoin Daily Chart

Considering the current price of Bitcoin,

○Target price is 32,000 dollars (level of May last year)

○Fall below the 200-day moving average

○Fall below the trend line since January 2023

Currently, Bitcoin6 is staying at last week's price level at the end of the month.

From the current movement, it still feels like a winter market.

Since this year1 price has actually been rising steadily.

Perhaps this is a pause at the moment.

Overall cryptocurrency news also seems to be decreasing.

Nevertheless, given this kind of situation, continuing to gather information is important for the next market cycle.

The weekly chart analysis is as follows.

Weekly Chart

・Break below the 200-day moving average (orange line)

・The trend line also breaks downward

Price1 is not moving for a week, so the candlesticks are small.

Grab implements aweb3 wallet

Uber (Uber), a popular ride-hailing app in Southeast Asia, known asGrab, recently addedWeb3 wallet functionality. It currently supportsPolygon blockchain, and guidance onNFT is also provided.Web3 wallets can store, send, receive, transfer, track, and manage crypto assets and tokens.

https://bittimes.net/news/152374.html

Grab is a taxi app that you will almost certainly use when you travel to Thailand or Indonesia.

The blockchain adopted here is Polygon (cryptocurrency name: Matic). It is characterized by lower fees than Ethereum.

Polygon adoption seems to reflect a strong emphasis on practicality.

If you hold cryptocurrency on Polygon, you could pay for a taxi ride with it.

Korean financial giant partnersPolygon collaboration

Assets under management exceed5,000 billion dollars (about72 trillion 5000 billion yen,1 dollar 145 yen at conversion), Korea's largest financial group, Mirae Asset Securities, on the 7th, announced a partnership with Ethereum's scaling platform Polygon Labs. They will promote tokenization in the financial sector and accelerate the diffusion of Web3 technology.

Polygon Labs is building infrastructure for issuing, trading, and distributing tokenized securities, so-called security tokens (digital securities).Mirae Asset Security TokenWorking Group technical consultant

“Mirae aims to be a progressive, future-oriented company that never lags behind in the ever-evolving world of digital finance. Its foray into tokenization will undoubtedly aid other financial institutions in mass adoption ofWeb3,” noted Nairwal Chairman.

https://www.coindeskjapan.com/200719/?utm_source=twitter&utm_medium=ifttt

Here too is news aboutPolygon.Polygon used to be the chain adopted in Coca-Cola and Starbucks’NFT ventures, but recently there seems to be a gradual increase in adopting be securities and bonds managed on the blockchain, such as security tokens.

AdditionallyPolygon has announced plans to separate its traditional cryptocurrencyMatic as its own currency, suggesting considerations for a future with its own token.

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（This article has been distributed since 2016）