Cryptocurrency Market Analysis [September 26]
Practical Cryptocurrency Investment Article September 26
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【Cryptocurrency Market Analysis】
The price fluctuations of cryptocurrencies since last week
over the past week are summarized below
as follows
Display: Current price (change from one week ago)
※From this time, we will use a dollar notation.
（Since much information on cryptocurrencies comes from overseas, the dollar notation is easier to express）
※1Dollar =145yen
Bitcoin26200dollars（-3%）
Ethereum1580dollars(-3%）
Binance Coin211dollars(-2％）
Ripple0.51dollars（-%）
Solana19dollars(-3%)
Cardano0.25dollars（-%）
MATIC 0.5dollars(-3%)
Avalanche 9dollars(-%)
Uniswap4.25dollars（-4%）
Bitcoin has not shown significant price volatility and has been in a downward trend since last week.
Bitcoin daily chart
From the current assessment of Bitcoin price
○Target price is $32,000 (level of May last year)
○Break below the 200-day moving average.
○Break below the trend line since January 2023
Currently there is a range between $25,000 and $28,000, and the price is moving within that range.
It seems to be holding steady without a sharp drop.
The weekly chart analysis is as follows.
Weekly chart
・Break below the 200-day moving average (orange line)
・Trend line also breaks downward
In the weekly chart, there is not much movement.5The low for the month is being watched, and prices are hovering in the current range.
From the weekly chart, Bitcoin has been in a rising market since early 2023 (making higher highs and higher lows).
NFT Has it died?
In the survey,7ten3257NFT collections,6万NFT have a value of0ETH, which is zero. This accounts for 95% of the total, essentially “almost all.” According to the survey, currently2300万people hold NFT with no value, making it a tough situation for investors.Of course, there have been highs and lows, butNFTthe idea that valuable technology could completely disappear is nonsense.NFTis, in reality, converting non-existent or real items into digital form, enabling tracking and trading. Whether this will reflect in the art market is another matter, but it is a broadly applicable idea.https://www.coindeskjapan.com/202408/?utm_source=twitter&utm_medium=ifttt
Of course, there have been highs and lows, butNFTthe idea that valuable technology could completely disappear is nonsense.NFTis, in reality, converting non-existent or real items into digital form, enabling tracking and trading. Whether this will reflect in the art market is another matter, but it is a broadly applicable idea.
https://www.coindeskjapan.com/202408/?utm_source=twitter&utm_medium=ifttt
During the previous bubble,DeFi as well asNFT were the spark that started it all.
However, currently manyNFTtrading has decreased and most have lost value according to news.
In this kind of sluggish market,NFTtrading being active is not easy to imagine.
Most are valueless, indicating the bubble inflated a lot; many projects in Japan issued NFT, but there has been little news afterward.NFTis valuable if investors feel the artist’s value will rise; otherwise, it may fall. Why did you issue NFT?
This is a tangent, butNFTis one use case tied to blockchain.
Not only art, but memberships can also use it; if the digital economy grows in the future, it will be used more widely.
NFTis not widely holding value, but blockchain-based NFT that makes it easy for ordinary people to tell which is genuine is a very interesting use case. Brands like Louis Vuitton have issued NFTs near 6,000,000 yen and provide incentives to owners. That openness is possible precisely because of blockchain.
Binance Japan and Sumitomo Mitsui Trust Bank aim to issue stablecoins
MitsubishiUFJTrust Bank andBinance Japanhave begun joint discussions to issue new stablecoins using the Japanese law-compliant issuance and management platform “Progmat Coin (Progma Coin)” as the base. They see the new stablecoin as a core in linking Binance’s global ecosystem with the Japanese market.
In May of this year, Binance Japan representative Tsunoda Takeshi said in an interview withCoinDesk JAPAN, “Stablecoins will serve as the glue between the real economy and the blockchain economy, and the Binance ecosystem. Whether stablecoins exist or not will drastically change the future.”
https://www.coindeskjapan.com/202440/?utm_source=twitter&utm_medium=ifttt
This is anotherNFTlike one of blockchain use cases.
Stablecoins on the blockchain are digital currencies pegged to fiat currencies (like the Japanese yen).
They offer benefits such as fast transfers, interest accrual, and trading with a smartphone.
In many parts of the world, people do not have bank accounts; many citizens have smartphones. One can hold Bitcoin or stablecoins on a smartphone, use them for transfers, payments, and other services, making blockchain highly compatible with modern life.
Ethereum L2 Arbitrum DAO (Decentralized Autonomous Organization) raised 8.3 billion yen.
Crypto asset (virtual currency) Ethereum (ETH) L2 project “Arbitrum (ARB)” announced on the 25th that aboutClaim of the ARB tokens, totaling about6,944millionARB (83billion yen equivalent) were allocated to the “Arbitrum DAO as a funding source.
Last year Arbitrum distributed ARB tokens for free as an airdrop to users who had previously transacted on Arbitrum’s chain.
I have received nearly 1 million yen worth so far. To receive an airdrop, connect the eligible wallet to the Arbitrum official site and claim it.
However, 8.3 billion yen worth remains unclaimed and has expired.
The unclaimed 8.3 billion yen worthARB will return to the community’sDAO (decentralized autonomous organization on the blockchain).
I find it fascinating that during such a cryptocurrency downturn, so many cryptocurrencies were distributed for free.
MicroStrategy buys more than 5,000 BTC. Since June
This time1.47billion dollars in value was used to acquire 5,445 BTC. The average acquisition price was27,053dollars. With this purchase, the company’s Bitcoin holdings increased to158,245and the overall average cost per BTC fell from29,668dollars (6月28日) to 29,582dollars.
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(This article has been distributed since 2016)
