The ever-evolving landscape of digital assets investments has identified three main catalysts which could stimulate the next growth phase for the cryptocurrency market, according to Pantera Capital’s blog post. Cosmo Jiang, Pantera’s Portfolio Manager, alludes to these drivers as being the potential approval of spot Bitcoin ETFs, enhancements in regulatory conditions, and progressions in blockchain scaling capabilities.
A key point of discussion surrounds BlackRock’s Bitcoin ETF application. Given BlackRock’s standing as the world’s largest asset manager, this move signifies a strategic decision to invest more extensively in the digital assets sector, irrespective of persistent regulatory uncertainties. Moreover, the potential for similar filings from other investment titans, such as Fidelity, has grown following a U.S. appeals court ruling favoring Grayscale against the SEC’s previous denial of their Bitcoin ETF.
Regulatory advancements recognized by Jiang entail crucial lawsuit victories over the U.S. Securities and Exchange Commission by Ripple, a fintech company, and Grayscale, a digital asset manager.
He also highlights the quick progression of blockchain scaling solutions, specifically Ethereum layer-2s such as Arbitrum and Optimism. These technological advancements are enhancing transaction speeds and reducing expenses, bringing forth new opportunities for blockchain applications.
Meanwhile, prospective crypto investors remain eagerly attentive for signals on the most advantageous crypto to buy. Abundant cryptocurrencies, including Curve DAO Token, Wall Street Memes, Aptos, Meme Kombat, and Axie Infinity, backed up by robust fundamentals and favorable technical analyses, are jousting for the spotlight as the best future investment.
This is reverberated in Curve DAO Token (CRV), which as of now stands at $0.5153 for the 20-day EMA, above the 50-day EMA at $0.5050, often implying an upward price momentum. Despite its small price increase of 0.28% to $0.5187, caution is advised due to the narrow gap between the two EMAs and slight price change, indicating volatility and uncertainty surrounding CRV’s future price action.
On the contrary, Aptos (APT) presents a potential bulls scenario. Being currently valued higher than its 20-day EMA and nearing the 50-day EMA, it suggests a possible shift from bearish to bullish tendencies. Furthermore, with increased RSI and MACD histogram values, a strong bullish sentiment is anticipated, which may propel APT’s price further.
While with its APY of 112% on staking promising both active and passive income streams, Meme Kombat proves how memes and combat gaming can be integrated in the market, adding diversification and profit potential to its platform.
Simultaneously, Axie Infinity (AXS) offers a mix of bullish and uncertain signals. Despite some positive indications, its dropped trading volume and close proximity of EMAs point to building volatility and uncertainty, enforcing a wait-and-see approach for most.
With the current ambiguity and rapidly fluctuating conditions, potential crypto investors must tread lightly, observant of market movements and emerging patterns. Closing a candle above or below nearby support or resistance levels could trigger the next big wave for the respected coin.
Source: Cryptonews
