Sirwin
Sirwin

While the crypto market is still under the FTX debacle, some coins are starting to form trends of their own.

By thranax | thranax | 8 Dec 2022


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The spirit of the World Cup and the date of December is something that has been circulating in recent weeks. As the market began to recover from the collapse of the FTX Exchange and its Alameda subsidiary, cryptocurrencies breathed a sigh of relief and some even began to form trends of their own. It is the soccer World Cup that has greatly affected the prices of some altcoins.

For example, teams like Spain, Argentina, Brazil, and Portugal have their fan tokens and had a good week leading up to the World Cup, but are now in a deeper red period with every home loss in between. . The most drastic case was that of Spain, whose cryptocurrency experienced a dramatic price change after being expelled yesterday from the World Cup by Morocco. However, Spain was not the only country to suffer the consequences of poor performance. The nations that are still in contention for the title, such as Argentina, Brazil and Portugal, have not performed well in recent days. The markets seem to be eager to see how the end game of the event plays out, which may affect the prices of these assets.

The big winner of the week

 

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While Mundial set the tone for this week's sharp decline, all is not well for the cryptocurrency market. Axie is one example where a recent announcement can change your future after a recession. The new trend is surprising because Sky Mavis, the company that developed the Axie Infinity game and its AXS token, was one of the names in the FTX case. Fortune magazine reports that the company received funding from the group, so outsiders speculate it could be affected. However, all this seems to be rumors.

Exchanges keep dancing to the tune of FTX

While the FTX debacle is subject to legal action, and presumably it will be with user money, the exchange's bankruptcy is not without a ghost in the market. The Sam Bankman-Fried empire case has positively and negatively affected the tokens of many finance-related decentralized exchanges and platforms. Binance, which was initially one of the biggest beneficiaries of its rival's debacle, started to show some signs of reversal this week. On the other hand, tokens from other companies like Huobi, Aave, and GMX are trading on the higher market with huge profits.

Doge falls off his throne

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(DOGE), Elon Musk's favorite meme cryptocurrency, came out last week. With a return of more than 30% in the last 7 days, DOGE is the best option on the market due to rumors of the possibility of using this cryptocurrency to make payments on Twitter. However, Puppy Coin's luck was not smiling this week. With its value falling more than 7%, the new Musk and Twitter story appears to have dampened fan expectations. Despite all this, the cryptocurrency bear market is still in full swing, with bitcoins trading between $16,000 and $17,000 per share. Unit. A panorama for cryptanalysts to reflect on and have high hopes for what will happen to the market at a macro level so that in 2021 we will see prices again or at least some relief in the value of cryptocurrencies.

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thranax
thranax

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thranax
thranax

experienced trader with many ideas

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