Total Crypto Market Capitalization
The overview of digital assets in the past week have risen more sharply in compared to other risky assets. The market capitalization almost hit US$ 2 trillion which equates to THB 62.8 trillion. This is 3 times higher than Thailand’s GDP in 2019 (US$ 529,177 million).
Total Crypto Market Capitalization (Excluding BTC)
Total Crypto Market Capitalization (Dominance %)
Ripple announced on Twitter and website that it has agreed to acquire 40% stake in Tranglo. Tranglo is a company which specializes in cross-border payment services in Southeast Asia.
In addition, Judge Sarah Netburn ordered the U.S. Securities and Exchange Commission to withdraw subpoenas sent to the six banks which served the defendants. Additionally, Ripple executives Brad Garlinghouse, CEO of Ripple and Christian Larsen, co-founder of Ripple have been granted a motion to overturn the SEC’s attempts to overturn their financial records.
Zipmex announces our partnership with Renazzo Motor (Lamborghini Bangkok), the official sole importer, dealer and after-sales service provider for Lamborghini in Thailand. Through this partnership, Renazzo Motor will be accepting Bitcoin (BTC), USDT, and Zipmex Token (ZMT).
Technical Signal Trading
BTC shoots past US$ 60,000 neared its all-time-high (ATH) of US$ 61,712 after spending nearly a month oscillating around US$ 50,000. This marks a new ATH for BTC/THB due to the depreciation of the Thai Baht.
The Zig-Zag indicator on the BTC/USD performance here shows a positive buy signal if the price breaks through the green dotted line.
Formation of ETH is to be monitored closely as the buy signal from result of breaking through the resistance line clashes with its later performance of price formation at the top zone. Technical analysis here shows that the next target price is around 2,500 ETH/USD. However, profit-takers who wants to capitalize on this positive momentum should come up with a cut-loss plan incase the price performance is not what we expected.
XRP breaks through the resistance line. This indicates a strong positive signal. Having said that, a downward adjustment from the ADX indicator indicates potential big movement. Investors should keep a close watch on this!
LTC made a new ATH despite the weak momentum. With the large gap between support and resistance price, investors should be cautious upon entry and exit as for a reasonable risk and reward ratio.
Despite the rebound, the price performance of gold is stuck below the resistance zone just above the top of the zone and the middle EMA bands. This is a critical point to determine whether or not will the price adjusts back to its initial zone.
Strategy from ZIPMEX
However, Zipmex will not take any responsibilities for the above analyses. Investors must realize that every investment is at risk.
Please use your own judgement when investing.