Bitcoin and Ethereum have seen their ETFs approved this year, with much hype and success. But are we about to see another ETF approval? This time with Solana being the candidate...
Flooz
4 min read โข Jul 2, 2024
Todayโs issue โคต๏ธ
1. ๐ Today in markets
2. ๐ฅ More ETFs on the way?
3. ๐ Educating your investments
4. ๐ฎ Flooz Top Picks
The work never stops here at Flooz, as we continue to expand and partner with new and exciting projects in the space.
Here are a few of our latest partnerships:
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Introducing FEG, who are looking to hit the ground running with their verified link set up on Flooz.xyz ๐ค
Next up we have APE, which is a brand new token on the Ethereum chain ๐ค
And last but not least, we have Chooky, who are a blockchain record company ๐ค
We are slowly reclaiming important areas for bullish momentum...
But will we see the uptrend continue to new highs?
Let's find out by jumping straight into the chart and analysis as usual ๐
Firstly, there is some good news as we have slightly pulled away from the lows of $60k, with us being just shy of $64k on the daily close.
Now the next steps are to target that area, and if we can close above the $64k mark, it could push us even further and potential see new highs on the cards.
But we are still some way away from that, so let's focus on what we see currently in the short term instead.
The must hold area of around $56k was not breached, which is great, and while it seems we are now in recovery mode, a drop to this area is still not completely off the agenda.
Another observation is that the fair value area has dropped slightly to around $59k, with it previously being $60k, but that isn't too worrying as we have been seeing drops recently and haven't got a complete reversal yet.
More good news is that we did hit the reclaim area, so if we now close above this at around $64k, we would certainly have some bullish momentum, and could target the $70k mark again in the near future.
But for that to happen, we need to test the bullish resistance at just over $65k first, if we can do that comfortably, then a move upwards is likely.
As always, we have to let the markets do their thing, so make sure you are positioned well and are sticking to your plan, and let's hope we see some more good news soon!
As we pass the halfway mark for the year, it seems the ETF speculation is not over...
This time, Solana is in the spotlight, but will they get approved?
We have already seen Bitcoin and Ethereum have their ETFs approved this year, and while the process was longer than expected, it had a huge impact on both tokens, as well as the market.
Now with Solana on the rise again, and speculation around a potential ETF on its way, could this be the start of a market uptrend again?
Well... that is a possibility for sure, and with Van Eck applying for the Solana ETF, there is definitely interest, and after this recent market downfall, something like this could be the catalyst for the market finally moving up again.
Either way, if another ETF is approved, this is a win for crypto regardless, and it may just swing us into the bullish momentum we need right now.
So now we play the waiting game, and see what happens next before we get too excited.
We aim to give you a short educational topic each week to help you on your trading and investing journey.
This weeks topic: Tokenomics ๐
As we prepare for the true bull run take off, which could start any moment, it's important to know what to look for in a project before investing.
And tokenomics is one of the most important aspects...
Why?
Because tokenomics is the economics within a project, including:
Price
Market capitalization
Total supply
Max supply
Circulating supply
Any information surrounding these will determine the tokenomics of a project.
This is all to do with supply and demand.
In this case, if there is a high supply but low circulation... you most likely want to avoid the project as it means there is more supply than demand.
And as we see with Bitcoin, there are a limited amount of tokens at around 21 million. So low supply with a HUGE demand makes it a highly valued project.
So, when looking for you next investment, make sure you check out the tokenomics before deciding as it could be the difference between a successful and an unsuccessful investment.
Here are our three crypto picks of the week ๐
๐ First up on our list is $DAPPX
DAPPX is the most convenient platform to access AAA games, combining rewards and AI for the ultimate user experience.
As well as this $DAPPX brings 24/7 esports reward payments into the mainstream for gamers and developers by leveraging the competitive gaming scene.
Currently $DAPPX is 20% up in the last 24H, and is attracting a lot of volume.
๐ Next up on the list, we have $ARKER
Arker is an online turn-based game on the BSC network with tradable assets which can be earned through the game.
With gaming and P2E (Play-to-earn) possibilities making these opportunities for gamers an even bigger incentive.
$ARKER is in an uptrend currently, and could be one for the future.
๐ Our final pick of the week is $NAKA
Gaming is one of the biggest industries in the world and $NAKA is looking to be the leader in the blockchain space.
Being one of the biggest and fastest growing gaming platforms on the blockchain, $NAKA is certainly an exciting project to keep an eye on.
Market News
The crypto markets started the year off strong, with an all-time high coming shortly after the ETF approvals... but have we hit the cycle peak or is there more to come from this bull run?
6 min read โข Jul 9, 2024
