Last Week Recap
What’s new? Nothing. The general crypto market continued in its range bound trade. Defi projects like UNI and SUSHI saw healthy price actions.
Theta and TFuel also saw some good price action. Binance came under increased global regulatory scrutiny. This has not stopped BNB from being among the better performing tokens last week. China continued its crackdown on companies providing crypto-related services.
For this coming week:
- Market should be continuing its trading within a tight band.
- The delta variant of Covid-19 may create speed bumps for the global recovery. This may switch sophisticated investors’ attention to the crypto market since the securities market would be subdued for the next few months. Crypto, after all, is just another asset class.
- Bitcoin may pick up faster than the rest of the cryptocurrencies this week due to enhanced accumulation.
- Will the SEC settle with XRP? It seems likely so. Otherwise, it would be a huge blow to the strong culture of innovation which has been the hallmark of the U.S. economic might. Not only that, it would also be a slap in the face for the SEC for approving Coinbase to go public.
- Keep a lookout for: XRP, THETA, TFUEL, ETH
As usual, trade with care. Trade with what you can afford to lose.
