ETH Hits $3,000 π, A Bitcoin ETF Sees 15x Surge π, OpenAI's Sora Boosts AI Tokens π₯
Hey Tigers!
This past week, Ethereum (ETH) hits $3,000, a feat unseen since April 2022 π while VanEck's Bitcoin ETF "HODL" experiences an unexpected trading volume explosion, puzzling market experts π₯. Finally, AI-related tokens surge on the back of OpenAI's latest innovation, Sora.
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π° News Makers & Shakers
AI-themed tokens soared this past week, fueled by OpenAI's launch of the text-to-video generator Sora, sparking optimism in the tech as a profit powerhouse this year πΉπ. Ocean Protocol's OCEAN and Fetch.AI's FET leaped over 10%, while Worldcoin's WLD surged 30%, hitting a new high at $7, thanks to connections with OpenAI CEO Sam Altman, making it a hot pick among traders ππ₯.
Ethereum (ETH) has triumphantly breached the $3,000 mark for the first time since April 2022, signaling a robust comeback from the crypto winter ππ₯. With a 13% increase over the week, ETH's resurgence is underpinned by growing interest and proposals for spot ETH ETFs by Wall Street's elite to the SEC, marking a vibrant phase for Ethereum's ecosystem πβ¨.
VanEck's spot Bitcoin ETF, aptly named "HODL," saw an extraordinary surge in trading volume, rocketing to $258 million on Feb. 20, nearly 15x the previous day's activity ππΌ. Triggered by around 32,000 individual trades rather than a single investor, this spike, 60 times the average, has left market analysts buzzing for explanations π΅οΈββοΈπ¬. Retail investors finally boarding the Bitcoin train?
π Token Trading Alpha
MATIC is the native cryptocurrency of the Polygon network π. It's used to pay for transactions on the blockchain and for staking, crucial in securing the network, rewarding participants with MATIC tokens for their valuable contributions π°.
Market Cap: $9.5 Billion πΉ
Volatility: Medium π
Technical Analysis: Presently, MATIC is travelling in a parallel channel and it is expected to form a continuation π.
Bullish View: Price has a higher possibility of reaching the $1.09 region (next resistance at $1.09). It is currently forming a Higher Low and Higher High π.
Bearish View: As per Fib, MATIC may reach the $0.93 region (which is also a support zone) on the day's chart π.
Overview: As MATIC had already moved up by 47% in the past 30 days, there has been a higher chance for it to form a retracement π.
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π¬ And that's a wrap on this week's digest! Stay tuned, and we'll meet in the next one! π Until then, take care, and stay well! ππ«
Cheers!
Kevin