global.gerbangindonesia.org – This Crypto Sequence Potentially Weakens During the Third Week of March 2022
During the third week of March 2022, the crypto market was quite receptive to various sentiments that could affect the price movements of various crypto assets.
Starting from the geopolitical tensions between Russia and Ukraine to the Fed raising interest rates. Even so, in the last few days, the top-tier crypto is still in the green zone, although it has experienced a slight decline from time to time.
Tokocrypto trader, Afid Sugiono, explained that as long as there is no big sentiment affecting the market, cryptocurrencies are likely to be quite stable. However, the possibility of a bear market is still possible. Afid in this case provides a row of cryptocurrencies that have the potential to weaken during the third week of March 2022, here is the list:
1. Anchor Protocol (ANC)
Anchor Protocol is a lending protocol on the Terra blockchain. ANC is a utility token and native governance protocol that allows users to participate in governance, borrow and borrow and earn interest on their digital assets using an over-collateralized model.
Tokocrypto trader, Afid Sugiono, explained that the ANC will most likely be bearish, as a result of the rejection of the token holder’s proposal to cut yields. ANC has also been overbought and many investors have taken profit, so that will make the price corrected.
2. Fantom (FTM)
Fantom is a directed acyclic graph (DAG) based smart contract platform with high performance, security and high scalability. Unfortunately, in the last two weeks the value of FTM has continued to decline.
Afid saw the value of FTM plummeting due to negative sentiment from the bad news of the release of important figures in Fantom and Yearn Finance, Andre Cronje and Anton Nell who were architects at the Fantom Foundation.
3. Bitcoin (BTC)
Bitcoin still can’t get out of the bearish position. According to Afid, the negative sentiment from the news of a new amendment to the crypto law by the European Union has depressed the value of BTC.
“Bitcoin is being squeezed by a lot of issues, starting from the amendments to the crypto law by the European Union, Russia-Ukraine tensions and the loosening of the impact of the new policy of the US President, Joe Biden. So if we see Bitcoin will pull back a little, there is a slight correction. From USD 36,000 analysis will be the next support level,” said Afid.
Chiliz dan XRP
4. Chiliz (CHZ)
Chiliz (CHZ) is a leading digital asset for sports and entertainment, supporting the world’s first blockchain-based fan engagement & reward platform Socios.
CHZ is an ERC-20 token that runs on the Ethereum-based Chiliz blockchain. The CHZ token serves as a currency that allows users to buy NFT in the Socios Chiliz fan token market.
5. XRP (XRP)
XRP is a self-propelled cryptocurrency, while Ripple is the payment platform behind XRP. Ripple has a crypto payment system that allows users to send money faster and at very low fees.
According to Afid, the XRP coin will enter a bearish phase, as a result of the motion that was filed in the United States Exchange and Security Commission (SEC) lawsuit against Ripple Labs.