Last week, cryptocurrency prices were generally up along with Bitcoin price (up 15.3%), which reached new all-time-highs (ATH) of $28,300!
The big news last week was the announcement that SEC (Securities Exchange Commission) launched a $1.3B lawsuit against Ripple (XRP), alleging, among other things, that Ripple management conducted an unregistered sale of securities and also price manipulation.
This created a bit of an overhang and a mini flash crash in altcoins, with fears that the SEC could perhaps go after others.
Some of the biggest gainers are familiar names that have been outperformers for weeks and have had steady uptrends including Zilliqa (ZIL), Celsius (CEL) and THETA (THETA), which increased 70.7%, 63.8%, and 59.3%, respectively.
If and when the market does pull back, check our Signals Summary for pullback in Uptrend opportunities.
Decentralized Finance (DeFi) category continues to make headway in terms of adoption as Total Value Locked (TLV) reached new highs at around $14.5B.
DeFi cryptocurrency prices performance was more mixed, however.
Source: Defipulse.com
Source: altFINS.com
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altcoins season is still on but XRP dealt it a minor blow. After steadily improving for weeks, ratio of coins in an Uptrend vs. Downtrend worsened somewhat last week due to the news of SEC lawsuit with Ripple (XRP). It’s safe to say we’re still in an altcoins season and we could still be in early stages.
Recognizing the big picture trends is a critical first step in any trader’s investment process. Trends in cryptocurrency prices are currently decisively bullish, hence their trade selection should reflect to the current environment.
You can monitor these trends on the Signals Summary page, which also contains shortcuts to strategy screeners and signals.
Source: altFINS.com
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Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as investment, financial, or other advice. There are risks associated with investing in cryptocurrencies. Loss of principal is possible.
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