Market Update Week 48 2023
The premium weekly crypto market update to grow your portfolio
TLDR: BTC and ETH up. Bitcoin dominance continues to climb. Hot coins we look at are TIA, KUJI & ARCH. Hot airdrops we collect are STRK, QSR & PLNK.
BTC & ETH Market Update 📈
Prices are up on the weekly, with BTC up 4.6% and ETH 3.6%.
Bitcoin dominance continues to climb in a market that is starting to look more and more bullish both for high, mid and low cap coins.
The Bitcoin halving is coming up end of March or beginning of April 2024, and if history is any guidance we will continue to see BTC dominance climb up until after Bitcoin halving, whereafter people start to look for higher return moving further on the risk curve entering altcoins. This typically starts with ETH, and then on to mid- and low cap coins.
A natural result of BTC dominance climbing is the BTC/ETH ratio also increasing further sitting at 18.3 ETH per BTC, underlining that continues to be king in crypto.
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Hot Coins 🪙
This week’s top three coins we are following:
High cap ($1B+): TIA
Mid cap ($200M-$1B): KUJI
Low Cap ($0-$200M): ARCH
Celestia (TIA) is starting to look like this cycles SOL.
The prize action certainly is starting to look solid:
If you are curious to learn more about Celestia and the potential it holds, check out the article here.
Throughout 2023, Kujira Protocol has consistently grown its TVL, and the price is starting to reflect that.
After going parabolic in the beginning and middle of November, both TVL and price is taking a break before the next leg up, which is normally a good opportunity to load up a nice bag.
Adding to the bullish arguments for KUJI is the fact that:
Zero inflation and all tokens are in circulation
Protocol (real) revenue is growing
Massive airdrops for staking KUJI