Crypto markets are falling again but never fear, we’ve got you covered. This week’s top stories will help you understand how to find emerging opportunities and safely navigate the dip.
Crypto Markets Continue to Suffer
It was another poor week for crypto markets across the board. They say a picture is worth a thousand words, so check out this snapshot of the last week for the top-50 cryptocurrencies by market cap:
[Source: Quantify Crypto]
But even in a sea of red there are trends for investors to notice in preparation of the week ahead. First, is the near uniformity of the crypto market’s decline. Bitcoin and Ethereum both dropped around 9%. Larger alternative coins like Binance Coin, Cardano, and Solana are equally affected. The trend is also seen in lower and mid-cap altcoins like Gala, Hedera and Helium. This means that there are no ‘safe’ cryptocurrencies to wait out the market dip.
Accordingly, Coinbase reported that net inflows for Stablecoins between November 2021 and January 2022 are up $3.5 billion. It appears that investors are using Stablecoins like Tether, Dai, and Binance USD to park their investments. As a quick refresher, Stablecoins are pegged to the value of another asset (e.g. the US dollar). This makes Stablecoins an excellent, non-volatile asset class to wait out market fluctuations.
The second noteworthy aspect of the above snapshot is the performance of Neo and Klaytn against the broader trend.
Neo saw a price climb after an announcement by China’s Blockchain-based Service Network (BSN) that Neo would be included as one of the ten chains that will form part of the Chinese government’s formal blockchain ‘mainnet’. Through Neo, Chinese nationals will be able to access NFT markets that operate on China’s BSN.
Klaytn, on the other hand, has risen on news that it will be part of the Blackchain Game Alliance: a global alliance of companies that will promote blockchain within the growing gaming…
