Cryptocurrency Market Overview 25.02.2024
đETH and BTC continue to consolidate, and this spring might burstâprobably by Monday or Tuesday. In the altcoin space, thereâs a fireworks display today, with many double-digit growth figures.
Currently, many have decided that itâs an excellent idea to take fees from liquidity providers in liquidity pools and allocate part of these funds as rewards to token holders in DAOs. However, many havenât realized that liquidity providers will vote with their feet, fleeing to other projects due to reduced profitability. Weâre still in the phase of realizing that the idea isnât as brilliant, but the growth in DeFi persists.
Macroeconomic prospects may not be perceived positively by investors after the weekend. The Chinese market is jittery, and Nvidiaâs enthusiasm will gradually wane as restrictions on deliveries to China become clear, impacting the companyâs future reports and interim data.
âïžÂ News
The AVAX network was down for 5 hours.
âïžÂ Base Scenario
Tomorrow, I expect a much calmer day in the altcoins. BTC and ETH should remain around the same levels. +/- 1-2%.
âïžÂ Long Positions Today
Be cautious with JASMY; DWF Lab is involved. The token might fly up by double digits, and yes, a pullback is possible. However, there wonât be any long-term growth in it.
âïžÂ Short Positions Iâm Holding
Iâm holding a short position in API3 (source). Itâs been profitable.Iâm also holding a short position in FIL (source), despite Arthur Hayes predicting FIL at $100 in the near future.
âïžÂ No New Ideas Today
Instead, I suggest looking at the JASMY chart. I believe something like this awaits us.
$JAMSY
