View Daily Crypto Trends

2nd April 2023: Weekly Crypto Trends

Crypto Assets
Bitcoin and Ethereum were up 3.5% and 4.5% respectively on the week. Bitcoin continues to test the top of the short term range.
Within Secondary coins, Stellar had the largest weekly gain of 18.6% and now measures 56 on the short term RSI. XRP, Cardano and Doge were the next largest gainers with moves of 14.3%, 11.3% and 10.1% respectively. Monero and BNB were modestly negative. Stellar makes new short term highs.
Crypto related equities had a positive week, with gains of 15.8% in Riot, 13.9% in Microstrategy and 13.1% in Block. Riot makes a new short term high, while Microstrategy tests the top of the short term range.

Headlines

Bittrex exchange announced that it was shutting down its operations in the United States due to the hostile economic and regulatory environment.

Gensler testifies to Congress that clear rules for Crypto already exist, much to everyone’s astonishment

It is reported that Disney is cutting completely its metaverse unit involved in next generation storytelling. This is part of a significant round of layoffs at the company.

Bankman-Fried is charged with bribing Chinese government officials to the tune of $40 million. These bribes were passed in order to pursuade China to unblock up to $1billion of funds frozen in an Almeda account.

Binance and its Chief Executive were sued by the CFTC on Monday for allegedly breaking trading and derivatives rules. Binance characterised this move as unexpected and disappointing.

Nvidia CTO says Crypto brings nothing to society. Nvidia has been key supplier of mining components for several years.

Gucci announces that it is tying up with Yuga Labs, the Bored Ape Club creator for co-operation in the metaverse

Major Coin Summary
NameCloseDaily Ch %Wk ChWk Ch %RSIST ScoreLT ScoreOverall
Bitcoin28,477.60-0.1%975.923.5%66-423512
Ethereum1,821.79-0.1%78.044.5%60-423512
Nasdaq Crypto Index1,176.531%00%40-423512

Bitcoin and Ethereum were up 3.5% and 4.5% respectively on the week. Bitcoin continues to test the top of the short term range.

Ratio Chart
Shitcoin Summary
  1. Stellar (Privacy Coin) 0.11 18.60% 65
  2. XRP (Smart Contract Coin) 0.51 14.30% 65
  3. Cardano (Smart Contract Coin) 0.39 11.30% 59
  4. DogeCoin (Memecoin) 0.08 10.10% 55
  5. Fantom (Smart Contract Coin) 0.47 7.80% 55
  6. Theta Token (Gaming Coin) 1.09 7.50% 53
  7. Polkadot (Cross Chain Coin) 6.36 7.40% 54
  8. ChainLink (Cross Chain Coin) 7.55 6.40% 55
  9. THORChain (Smart Contract Coin) 1.47 6.20% 50
  10. Avalanche (Smart Contract Coin) 17.85 5.30% 55
  11. Near (Smart Contract Coin) 2 3.10% 48
  12. Solana (Smart Contract Coin) 21.13 2.90% 50
  13. Polygon (Smart Contract Coin) 1.11 2.80% 49
  14. Decentraland (Gaming Coin) 0.6 2.60% 51
  15. Cosmos (Smart Contract Coin) 11.4 2.40% 48
  16. The Sandbox (Gaming Coin) 0.64 1.40% 51
  17. Monero (Privacy Coin) 157.12 – 1.70% 55
  18. BNB Chain Native Token 315.39 – 2.40% 58

Stellar had the largest weekly gain of 18.6% and now measures 56 on the short term RSI. XRP, Cardano and Doge were the next largest gainers with moves of 14.3%, 11.3% and 10.1% respectively. Monero and BNB were modestly negative. Stellar makes new short term high.