Forwarded from Canva (Lemillion)
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Forwarded from Canva (Lemillion)
Buy, sell, and trade #bitcoin , #ethereum, and all of the best #altcoins on Binance, the world’s #1 exchange!
Use this link to sign up and you will get 20% off fees and up to $700 in trading bonuses
https://accounts.binance.com/en/register?ref=WMWO7A6B
Use this link to sign up and you will get 20% off fees and up to $700 in trading bonuses
https://accounts.binance.com/en/register?ref=WMWO7A6B
#altcoins #crypto
We now have 5.7 times the amount of crypto tokens than we did during peak bull in 2021.
This is a big problem. And is one of the major reasons why crypto has been struggling this year, despite $BTC hitting new ATHs.
The more tokens that launch, the more cumulative supply pressure on the market.
And this supply pressure "stacks".
Many projects from 2021 are still unlocking, with supply "stacking" across every subsequent year (2022, 2023, 2024).
Current estimates suggest there is around $150m-$200m of new supply pressure per day.
This constant sell pressure takes a huge toll on the market.
Not enough new liquidity entering the market, and
An insane amount of dilution/sell pressure from unlocks
We now have 5.7 times the amount of crypto tokens than we did during peak bull in 2021.
This is a big problem. And is one of the major reasons why crypto has been struggling this year, despite $BTC hitting new ATHs.
The more tokens that launch, the more cumulative supply pressure on the market.
And this supply pressure "stacks".
Many projects from 2021 are still unlocking, with supply "stacking" across every subsequent year (2022, 2023, 2024).
Current estimates suggest there is around $150m-$200m of new supply pressure per day.
This constant sell pressure takes a huge toll on the market.
Not enough new liquidity entering the market, and
An insane amount of dilution/sell pressure from unlocks
#altcoins
Important altcoin market update:
Altcoins (TOTAL3) are at a KEY decision level right now, flirting with the idea of officially breaking out of the downwards regression channel.
There are 2 levels alts need to break to officially end the downtrend (and signal a complete bullish trend reversal):
1. A daily/weekly close above the blue line (regression channel high).
2. A daily/weekly close above the previous high (higher high - also at a similar level).
Of course, this could simply be another retest of resistance, and thus create a subsequent lower low. So be wary not to get crazy bullish here, as there have been many past traps with similar setups.
But, also be prepared for a potential breakout - because things could move REALLY quickly if we do.
Important altcoin market update:
Altcoins (TOTAL3) are at a KEY decision level right now, flirting with the idea of officially breaking out of the downwards regression channel.
There are 2 levels alts need to break to officially end the downtrend (and signal a complete bullish trend reversal):
1. A daily/weekly close above the blue line (regression channel high).
2. A daily/weekly close above the previous high (higher high - also at a similar level).
Of course, this could simply be another retest of resistance, and thus create a subsequent lower low. So be wary not to get crazy bullish here, as there have been many past traps with similar setups.
But, also be prepared for a potential breakout - because things could move REALLY quickly if we do.