A bit of Red to Cool Down the Market

A bit of Red to Cool Down the Market

By Lukros76 | Crypto Banter | 18 Aug 2021


After the constant green we've been having recently the consolidation period has finally arrived, and we should all be happy about it, it's healthy for the market especially when most of the minuses are around the 1% to 10% range which is basically just sideways movement after the gains we had the past week.

I won't be talking about BTC and ETH here since there will probably be about 50 analyses on those two through the day and I ain't even gonna try.

Some of these runs in particular have me very fascinated as I expected them to pullback very drastically after their gains. Solana stands out in particular as the 65% rally it had in a single day had me thinking it would go down to relatively normal levels after a bit but that seems to not be the case as of yet. Solanas rally set it's new ATH at 74$ and it's barely budged since then and I'm hoping that stays that way for at least a while longer.

ADA is a similar case, especially now that the date for smart contract integration has been set. People were memeing the fact that it might never come but here we are after a long while and anyone interested in ADA should be extremely bullish, who knows how far it can go!

Audius had a run similar to Solana, ended up going higher but also falling back lower. So Audius did what I expected to happen to SOL but that is likely due to how much it rose, people started selling off and the market followed. There is still an interesting future for this DeFi music platform tho so keep an eye out as it rises through the ranks.

Terra also had a fun week with an overall +45% , even with the difficulty involved with buying Terra people are still very interested in the South Korean based stablecoin provider. Terra bulls still expect the price to reach 100$ by the end of the year but I still don't see what the catalyst could be, but we can always hope.

bne IntelliNews - Bulgaria's police raid cybersecurity firm linked to hack  attack on tax authority

For some reason, news networks are surprised that the crypto space continued to climb despite the Poly Network hack. With how many times it has happened and with how careful people are now and vary of where they leave their money, it's hardly something that people are surprised by anymore. There have been many improvements to security on a boatload of projects and even in this case, almost all the money was returned, and they even asked the hacker to be their Chief Security Officer (probably a trap). This is of course still not good but I can imagine most people are bullish in the long run rather than the short term.

A lot of coins have moved recently but nothing else has particularly caught my eye like these particular ones. Everything else just moving sideways has me looking forward to an even bigger rise in the future with the stabilization of the market.

EDIT: Well, since the making of this article, everything went back into green so... seems I was right hahahha

Hope you enjoyed the article!


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Lukros76
Lukros76

A Video Game Designer, Crypto Enthusiast, Writer and an ASMRtist


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