Once again we are at the gates of the most awaited moment for everyone, the weekend, and what better way to welcome it than with a Cryptonews Weekly Recap? If you want to know everything that happened during the last days, this is your place.
As always, our trading expert brought us his technical analysis on some of the cryptocurrencies that are in the market spotlight. Uniswap is one of the cryptos that have been among the most chosen by investors, despite not being part of the TOP-10 by market capitalization. Its Exchange is among the most used if we take into account those that are completely decentralized, so it is a highly required token with a good backing. For this reason, our analyst believes that UNI could return to touch highs that we saw in the third quarter of last year.
For its part, Ethereum maintains its uptrend, although it seems to have encountered resistance at the $1,700 line. Overcoming it could be the start of a new bull run for ETH. Meanwhile, Bitcoin has once again breached a new barrier. This time it was the $23,000 level, and many experts say we could be about to see a major sprint towards $30,000.
Shiba Inu seems to have definitely taken off the “memecoin” moniker and its ecosystem continues to grow. In fact, SHIB and BONE, its newest token, continue to attract investors who believe it can earn a place among the big blockchains of the future. Who would have thought that the memecoins craze, which started as little more than a travesty, would lead to several tokens commanding higher valuations than traditional companies with decades of development.
All of this has led the broader market to regain the valuation above $1 trillion, which it lost after repeated 2022 hits.
However, during the week many investors had a Deja Vu of what 2022 was like, when surprisingly the market took a worrying plunge after several days of beautiful green. In fact, this was the first major drop of this 2023 and made people fear that these last few weeks were just a small oasis in an endless desert. But to everyone’s relief, the turbulences were merely passing and cryptocurrencies resumed growth after a few hours. Among them, Cardano and Solana led the rapid market recovery.
Speaking of Cardano, this week it officially announced the launch of its long-awaited stablecoin DJED in the coming days. As sources close to the development tell us, this coin seems to have learned from the mistakes of UST, the stablecoin of the now dying TERRA, and is highly overcollateralized. We are sure to have more details in the coming week.
Aptos, a cryptocurrency that we at Crypto Economy have been recommending to follow for a long time, never ceases to surprise and has once again had a spectacular week, with a 135% growth in just 7 days. Can you see why you have to follow our news site closely?
Undoubtedly, 2023 looks like a year of great opportunities for the cryptocurrency market. And so suggests the so famous Fear and Greed index. Which, for the first time in a VERY long time, returned to “CODICIA” values indicating positive investor sentiment. After a year 2022 that marked only “extreme fear“.
