Global investors remain somewhat skeptical about Russia’s next army moves, translating to tension and downtrends in the financial sector. Meanwhile, the crypto marketplace record mixed actions, some assets dropping while others see gains.
The crypto spectrum shows slight changes as Federal minutes and ongoing geopolitical tension subdue investor sentiment. Crypto assets presented mixed trading actions, with six of the top ten digital coins hovering in the red early today.
Meanwhile, Avalanche was among the gainers, surging 4% overnight. The canine-themed token Shiba Inu followed with a 2% gain. On the other hand, Solana lost 2% as Dogecoin, Cardano, and Binance Coin shed around 1% each.
The global cryptocurrency market capitalization witnessed slight changes, hovering at $1.97 at this publication. Moreover, the overall market volume plummeted by over 7% to $69.68 billion.
Expert View
Global market players keep a close eye on Russia’s upcoming military move, triggering skepticism among investors. Adding quantitative tapering and rising interest uncertainties makes the macroeconomic atmosphere precarious. That is according to reports from CoinDCX Research Team. It also stated that risk assets such as crypto and equities remained somewhat range-bound, with wagerers unwilling to reveal directional biases.
Global News
Warrant Buffett’s business partner Charlie Munger termed crypto as “beneath contempt,” suggesting a total ban. On the other side, Royal Canadian Police and Ontario Provincial Police ordered certified financial companies to cease undertaking transactions from 34 cryptocurrency wallets associated with protests in the nation.
Twitter revealed that users can now access Ethereum tipping services. Remember, the social media platform added BTC tips in 2021 September. Users can utilize this mobile feature to add their ETH addresses to the product.
Technical View
OMG Network is among the top layer2 networks on Ethereum, second after Polygon. It facilitates ERC20 and ETH tokens transfers without long wait times and high fees. Its native token, OMG, has had roller-coaster actions, surging from $3.5 in August to above $20 in November. That way, it offered a lucrative opportunity for investors, swing traders, and scalp traders.
After January’s narrow wedge, OMG couldn’t overcome the wedge and pocket resistance, correcting more than 20% to this week’s $4.4 from $5.5. For now, it seems ready to overpower the $4.9 resistance and regain the golden pocket around $5.85.
Editorial credit: ezphoto / shutterstock.com
The information provided on this website should not be interpreted as financial or investment guidance and may not embody the perspectives of Forex Tools Trader or its contributors. Forex Tools Trader does not hold responsibility for any financial setbacks experienced due to the use of information provided on this website by its writers or patrons. It's essential to thoroughly investigate and make informed decisions before entering any financial commitments, particularly concerning third-party reviews, presales, and similar ventures. The content you are viewing may be sponsored content, read our full disclaimer to learn more.