The fresh US retail sales figures for July that emerged recently seem to have left Bitcoin (BTC) and Ether (ETH) profoundly unmoved – an unexpected response, considering one might anticipate such data bolstering optimism regarding the health of the American economy. Bitcoin’s trading stalled in the $29,100 range, while Ether hung back in the $1,820 range. However, the broad trend asserting the termination of the Fed’s rate-hiking phase may conversely be affirming this lack of movement.
While the financial world’s gaze lingers on the US Securities and Exchange Commission’s impending verdict on a slew of spotlight Bitcoin ETF applications, other intriguing events vie for attention. For instance, Europe has just listed its inaugural spot Bitcoin ETF in Amsterdam; meanwhile, many are alert to the possible fallout from a court ruling on the Grayscale vs SEC disputation over the latter’s dismissal of the former’s spot Bitcoin ETF application in the previous June.
As part of the standout crypto highlights this week, the RUNE token (the driving force of THORChain’s cross-chain decentralized exchange blockchain) has witnessed a climb to near four-month highs. Despite speculation attributing this surge to THORChain’s partnership with Unizen, the token’s breakthrough from a stubborn downtrend dating as far back as early 2022 may actually have more overall sway.
Close monitoring of the XinFin Network will also be edifying. Following a recent pullback from a promising upward thrust in July early August, the network’s token,XDC, has nudged careful gains just above $0.065. Observers keen to exploit high-risk-high-reward investment strategies might want to look into crypto presales, wherein investors buy tokens of fledgling crypto projects to fund their progression. Pioneered by teams boasting an impressive vision and purpose, these tokens are typically sold at rock-bottom prices. A sound choice for investors with seasoned acumen capable of identifying high-potential projects, early birds will probably enjoy exponential prefatorial gains from such presales.
A word of caution – crypto remains a high-stakes asset. And while tempting alternative spotlight projects dangle promising returns, the baseline reality remains that most fail to deliver substantive value. This article extends no investment advice, considering the potential for total capita loss. Information is provided solely for educational intentions.
Source: Cryptonews
