Cryptocurrency Market Overview 25.02.2024

📍ETH and BTC continue to consolidate, and this spring might burst—probably by Monday or Tuesday. In the altcoin space, there’s a fireworks display today, with many double-digit growth figures.

Currently, many have decided that it’s an excellent idea to take fees from liquidity providers in liquidity pools and allocate part of these funds as rewards to token holders in DAOs. However, many haven’t realized that liquidity providers will vote with their feet, fleeing to other projects due to reduced profitability. We’re still in the phase of realizing that the idea isn’t as brilliant, but the growth in DeFi persists.

Macroeconomic prospects may not be perceived positively by investors after the weekend. The Chinese market is jittery, and Nvidia’s enthusiasm will gradually wane as restrictions on deliveries to China become clear, impacting the company’s future reports and interim data.

✔️ News

The AVAX network was down for 5 hours.

✔️ Base Scenario

Tomorrow, I expect a much calmer day in the altcoins. BTC and ETH should remain around the same levels. +/- 1-2%.

✔️ Long Positions Today

Be cautious with JASMY; DWF Lab is involved. The token might fly up by double digits, and yes, a pullback is possible. However, there won’t be any long-term growth in it.

✔️ Short Positions I’m Holding

I’m holding a short position in API3 (source). It’s been profitable.I’m also holding a short position in FIL (source), despite Arthur Hayes predicting FIL at $100 in the near future.

✔️ No New Ideas Today

Instead, I suggest looking at the JASMY chart. I believe something like this awaits us.

$JAMSY