7th October 2023: Weekly Crypto Trends
Crypto Assets
Bitcoin was up 3.9% on the week; Ethereum was down 1.3%. Both maintain short term downtrends.
Secondary coins were mixed on the week; Avalanche was up 16.3% and Solana up 15.5%, while Thorchain was down 11.6%. Thorchain consolidates to short term support, Solana forms short term base.
Crypto related equities were down on the week, with the sharpest fall in Marathon, which lost 9.5%, but found support at 7. Riot was marginally up on the week, and finds support at 9.
News
Solana’s total value locked (TVL) reached $338.82 million on Monday, marking its highest point since the start of the year, encouraging the token’s price rise yesterday.
The trial of Sam Bankrupt-Lied, the former CEO of cryptocurrency exchange FTX, went on trial for fraud this week, sparking much interest in his new close cropped hairstyle. One time colleagues testified against him.
Additionally, Bankrupt -Lied is supposed to have considered offering Donald Trump $5 billion to dissuade the U.S. 45th president from running for office again in 2024. The revelation comes from Michael Lewis, in his new book on the disgraced FTX boss, “Going Infinite: The Rise and Fall of a New Tycoon.”
Major Coin Summary
| Name | Close | Daily Ch % | Wk Ch | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|---|---|
| Bitcoin | 27,982.37 | 2% | 1055.95 | 3.9% | 54 | -42 | 0 | -10 |
| Ethereum | 1,647.85 | 2.1% | -20.88 | -1.3% | 45 | -83 | -88 | -87 |
Bitcoin was up 3.9% on the week; Ethereum was down 1.3%.
Ratio Chart
Secondary Coin Summary
Weekly change – highest to lowest
| Name | Close | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|
| Avalanche (Smart Contract Coin) | 10.67 | 16.3% | 52 | -75 | -88 | -85 |
| Solana (Smart Contract Coin) | 23.45 | 15.5% | 58 | 0 | -88 | -66 |
| Polygon (Smart Contract Coin) | 0.56 | 7.3% | 48 | -75 | -88 | -85 |
| Cardano (Smart Contract Coin) | 0.27 | 6.3% | 50 | -75 | -88 | -85 |
| Monero (Privacy Coin) | 152.01 | 3.5% | 62 | -75 | -88 | -85 |
| BNB Chain Native Token (Smart Contract Coin) | 213.77 | -0.7% | 42 | -83 | -88 | -87 |
| Fantom (Smart Contract Coin) | 0.19 | 0.1% | 41 | -83 | -88 | -87 |
| XRP (Smart Contract Coin) | 0.53 | 0.8% | 49 | 0 | 41 | 31 |
| Polkadot (Cross Chain Coin) | 4.07 | -0.1% | 35 | -83 | -92 | -90 |
| Stellar (Privacy Coin) | 0.11 | -0.7% | 43 | 0 | -4 | -3 |
| DogeCoin (Memecoin) | 0.06 | -1.1% | 37 | -75 | -88 | -85 |
| Near (Smart Contract Coin) | 1.10 | -2.4% | 38 | -83 | -88 | -87 |
| Cosmos (Smart Contract Coin) | 6.92 | -2.6% | 46 | -75 | -88 | -85 |
| ChainLink (Cross Chain Coin) | 7.66 | -3.7% | 67 | 75 | -88 | -48 |
| Theta Token (Gaming Coin) | 0.63 | -3.4% | 46 | -75 | -88 | -85 |
| Decentraland (Gaming Coin) | 0.30 | -4.8% | 48 | -75 | -88 | -85 |
| The Sandbox (Gaming Coin) | 0.30 | -4.3% | 41 | -83 | -88 | -87 |
| THORChain (Smart Contract Coin) | 1.77 | -11.6% | 55 | 75 | -88 | -48 |
Secondary coins were mixed on the week; Avalanche was up 16.3% and Solana up 15.5%, while Thorchain was down 11.6%. Thorchain consolidates to short term support, Solana forms short term base.
| Name | Close | Daily Ch % | Wk Ch % | RSI | ST Score | LT Score | Overall |
|---|---|---|---|---|---|---|---|
| Ark Innovation ETF | 38.49 | -0.1% | -3% | 31 | -75 | -88 | -85 |
| Block Inc | 43.21 | 1.3% | -2.4% | 20 | -100 | -100 | -100 |
| Coinbase Global Inc Cl A | 74.79 | 0.2% | -0.4% | 39 | 0 | -45 | -34 |
| Hive Blockchain Technologies Ltd | 3.00 | 2% | -2.6% | 27 | -83 | 85 | 44 |
| Marathon Digital Hldgs Inc | 7.69 | 3.6% | -9.5% | 18 | -100 | -91 | -93 |
| Microstrategy Cl A | 329.15 | 1.8% | 0.3% | 34 | 0 | 41 | 31 |
| Riot Blockchain Inc | 9.37 | 4% | 0.4% | 35 | -75 | 0 | -18 |
| Robinhood Markets Inc Cl A | 9.77 | 0.4% | -0.4% | 31 | 0 | -88 | -66 |
| Tesla Inc | 255.92 | -1.6% | 2.3% | 50 | 75 | -92 | -51 |
Crypto related equities were down on the week, with the sharpest fall in Marathon which lost 9.5%, but found support at 7. Riot was marginally up on the week, and finds support at 9.