So it was September for the cryptocurrency market (aka Septembear). When Australian legend Adam Gilchrist announced his retirement, former England Test batsman Paul Collingwood said: “Thank God for that.”
If we only consider Bitcoin as the leading crypto market indicator, September (-3.1%) was not as bad as most people had expected.
While there’s no guarantee that October will be better than September, let’s take a look at what’s passed and failed over the past 30 days.
– Advertising –
BTC ended the month at around $19,300 after starting the month at around $20,000. In terms of crypto, there was no huge decline, but there was undoubtedly a lot of jerky trading and rough emotions in between.
That said, the macroeconomics is definitely going through some pretty exceptional times. We could pray to the finicky crypto wallet gods that we don’t have a recurring 2011, even though it would be unrealistic to aspire to another 2017 or 2021.
According to the data, October, also known as “Uptober” in the cryptosphere, is generally one of the top three months for crypto investors. Therefore, there is some optimism for the coming weeks, largely based on past results.
firmer ground (than it was in May)
By a wide margin, Terra Luna Classic (LUC) (+79.7%) led the gains for the month.
Given the controversial recent history of the Terra brand, we have sometimes highlighted the trading/investing risk on this one.
While Do Kwon, the founder of Terra (LUNA) (+42.4%), is apparently wanted by Interpol for alleged violations of South Korean capital markets law, Terra (LUNA) also ranks among the best winners. It may be confusing, but the piece currently known as LUNA (also known as LUNA2) was produced in airdrop form by Kwon as part of a “regeneration” strategy for the Terra ecosystem. LUNC is the original Terra LUNA piece.
We saw Terra’s LUNA Network collapse in May, costing investors billions of dollars. This event triggered a “crypto contagion” effect that brought down or severely damaged a number of well-known crypto-market platforms and entities. Why do these parts still occasionally experience pumping? It’s possible the whales will have a good time, so the deal was definitely “at your own risk.”
However, LUNC has a specific cause for at least some of its recent growth. This might have something to do with Binance’s announcement that it will allegedly adopt a “burning mechanism to burn all trading costs for LUNC spot and margin trading pairs”. The supply of the token should be reduced accordingly. How Ripples Work
As of this writing, XRP is up over 12% in the past 24 hours and nearly 50% in September.
The company that developed the digital currency and money transfer network is still embroiled in a contentious legal battle with the United States Securities and Exchange Commission that has received considerable media attention. The initial token sales of XRP in 2018 would have violated US securities laws, according to the SEC. Ripple vehemently denies this. For the majority of the cryptocurrency industry, especially any projects that have participated in ICO (initial coin offering) token sales, an SEC victory would set a troubling precedent.
This month’s developments in the court case could be interpreted as favoring Ripple Labs’ chances of victory. So there is XRP pumping. Check out our most recent articles on the subject here, here, and here for an overview. Evmos and Synthetix sink
Finding the reason why some parts performed worse than others can sometimes be difficult. especially if they appear to be solid projects with solid fundamentals.
Summary of news:
- September cryptocurrency gainers included XRP, TSUKA and Terra, while Evmos and Synthetix underperformed
- Check out all the news and articles from the latest business news updates.
We want to thank the author of this short article for this remarkable material
September Cryptocurrency Gainers Included XRP, TSUKA And Terra, While Evmos And Synthetix Underperformed
Our social media profiles here and other pages related to them here.https://metfabtech.com/related-pages/