GM, and welcome to another edition of CoinStats Scoop! 🥂 Here’s an overview of this week’s newsletter:
The markets this week provided a good reminder of everything we’ve preached throughout the last few issues of the CoinStats Scoop! While everyone wants a market that only goes up and provides infinite returns, it’s just not realistic. As we stated previously, we’re definitively in an up trend, but pullbacks across assets are not only expected, but healthy! 💪
As we’ve echoed throughout recent issues, markets can’t go UpOnly forever and the slight correction underway, while not wanted or appreciated, is long-term healthy! We have to be conscious of the fact that BTC and ETH are both up 50% since their recent lows and the long-term strength of the market remains paramount over all other factors!
It’s important to remember that when the market corrects, like what has occurred this week, that two things always remain true: first, the long-term future of the crypto ecosystem remains as bright as ever and secondly that price corrections are expected after the majors gained 50%+ and various altcoins rallied hundreds of percent! 🌞
Despite the majors cooling off this week, the crypto ecosystem has grown to such a level now where there are still positive token returns throughout various sectors including:
Zero-Knowledge Tokens: ROSE +25%, MINA +23%, IMX +9%, LRC +6%
Liquid Staking Tokens: RPL +12%, LDO
Infrastructure Tokens: GRT +62%, LPT +13%, AKASH +40%, POKT +31%, OCEAN +15%
DeFi: HBAR +20%, MKR +4%, SSV +6%
Others: WOO +13%, BONE +6%, AXL +24%
Of course, the list of the above tokens and sectors is minimal compared to other weeks, but the point rhighlights the growth that the entire space has endured in recent years. In previous cycles, BTC and ETH losing 5+% would’ve resulted in no green tokens across the entire crypto ecosystem which shows just how far this market has come in recent years! 🤯