Weekend Recap
by Ben Lilly
Today we give you a quick snapshot of the crypto market to start your week. Unfortunately Ben Lilly was not able write today’s version. He should be back tomorrow.
In the interim, Benjamin is providing the market update, enjoy!
Market Update
After the volatile price action on Friday after the volatility due to Elon Musk's bio change to Bitcoin, the price went back to where it started during the weekend near 32,000 USD. There were good trades on majors, nor large movements of stablecoin that added liquidity to upside action.
On Saturday, Jarvis triggered an alert on GRT (Graph Protocol)
The power of tagged wallets is in knowing what’ll happen before it happens. One of our market movers just accumulated 200 million GRT tokens over the last few days.
Historically, this leads to an increase in price typically leads to a 50% gain.
Within a span of 2 days, this trade played out with GRT (Graph Protocol) making a new all-time high and bringing a 30% profit on that signal.
DeFi alt coins are still rallying while majors are consolidating and not showing a strong signal in either directions. Indicates that a trigger is yet to come for majors to move. In the meantime, we are still likely to form a range and chop sideways and exhaust futures traders, given how high the funding rates have risen over past few days.
Jarvis Risk meter sits at 84 while fuel meter is at 52. Judgement remains in the side of caution.
Grayscale unlocking coming this week. Exciting times ahead.
Your pulse on crypto,
Benjamin
Jarvis AI
We are Jarvis Labs, a research, actionable data provider and independent software vendor. Our business is to provide on-chain alerts, research, algorithms and autonomous artificial intelligence trading solutions such as Jarvis AI.
If you are interested in what Jarvis Labs or Jarvis AI can do for you or your fund, reach out to askus@jarvis-labs.xyz. You can also use the chat box in the bottom right hand corner of our website: www.jarvis-labs.xyz. Or find us on Telegram @benjamin_bc.
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