- Dgenz Crypto Weekly
- Posts
- Dgenz Crypto Weekly 021
Dgenz Crypto Weekly 021
Your go-to newsletter for crypto market updates, trends and analysis brought to you by DgenzNFT.
The Weekly Ledger
Weekly Snapshot
Market & Economy Overview
A Bitcoin whale recently closed over half a billion dollars in short positions ahead of the upcoming FOMC meeting, managing to secure a $9.46 million profit despite attempts from a publicly-formed team of traders trying to "hunt" his positions liquidation. Meanwhile, Bitcoin ETFs have faced $5 billion in outflows over the past month, while gold has seen record inflows of $10 billion. Gold also recently surged past $3,000 per ounce for the first time ever as investors have shifted toward the traditional safe-haven asset as $BTC dropped over 19% in three months, while gold climbed 12.5%. In other news, Tron founder Justin Sun hinted at an upcoming $TRX integration within the Solana ecosystem, fueling speculation within the communities. Tron has been on a growth streak, with daily active addresses nearing record highs and annualized revenue surpassing $2 billion in 2024—a 116% YoY increase. Over the past week, TRON also led in transaction fees, generating $12.9 million, outpacing both Ethereum ($6.87M) and Solana ($6.7M).
Crypto Insights: Weekly Charts
USDT Dominance
$USDT.D recently broke out of the downtrend but soon after ran into this resistance zone giving us some nice opportunities for longs yesterday. However, we can now see that we are back to testing our support zone, so right now shorts would be in favor, especially seeing as though Polymarket betters are giving a 99% chance that at the FOMC meeting later today rates will remain stable.
The USDT.D chart shows the market dominance of Tether (USDT), indicating the proportion of crypto market value held in Tether and reflecting investor sentiment towards risk, as higher dominance often signals a move towards stability.
TOTAL2
Looking at the chart we can see that we are approaching daily resistance levels here so I would expect to see a rejection before we go back down to retest that deviation move below support that we made at the start of last week. Again, this is another sign that right now shorts will be giving you a better risk to reward over long positions.
The TOTAL2 chart shows the market cap of all cryptocurrencies excluding Bitcoin, offering insight into the altcoin market's health. A rising TOTAL2 often signals increased interest in altcoins, while a decline may indicate a shift back to Bitcoin or reduced altcoin investment.
Get up to $8,000 for free thanks to our partners at MEXC! Scan the QR code or simply click the image below to sign up and start trading with a massive bonus. Don’t miss out!
New to crypto trading and looking for guidance? We got you!
Check out our weekly guide with trading strategies, candle patterns, and tips that will level up your skills. Got questions? Reply to this email or join discord. Join our community and grow with us! Trading never sleeps, and neither do we.
|
Spotlight: Token of the Week
$ENS
Ethereum Name Service just broke out from it’s daily resistance so if we can manage to see a flip of $17.5 into support then it would be a good spot to start a position. Wait for the retest first for confirmation as it will give you a much higher chance of success then just hoping it bounces. And, as always, remember to save room for a potential DCA at about $15.86 to lower your average entry.
This is not financial advice. Please conduct your own research and trade responsibly.
Want to stay ahead of the moves? Join our community and get real-time insights on the market—daily, hourly, anytime you need them. Learn from our 4 expert chart masters and engage with a community of traders out there in the trenches with you. 🚀 Don’t miss the next one!
Dgenz NFT Collections  DgenzNFT began as a derugged community and has since evolved into a thriving project with four unique NFT collections. The latest, Degen Girlz, was minted in 2023 by our dedicated team. Explore the art, discover the utilities, and join our Discord to dive deeper into the Web3 world of trading and NFTs. | Weekly Crypto Stream  The best way to keep up with crypto is to surround yourself with the right people. Tune into the Weekly Crypto Roundtable on YouTube every Thursday, hosted by Dgenz community members, for sharp insights, market updates, and discussions that matter. |
Know a few friends who need crypto alpha in their life? Share your link, collect rewards and don’t miss out on the soon to be announced Dgenz perks - Start referring today!
Is this startup the next billion dollar buyout?
Imagine investing in Ring before its $1.2B buyout by Amazon
Or Nest, before Google's $3.2B acquisition.
By the time we hear about industry-changing companies, it’s usually too late. But right now, there’s a smart home startup making their way to homes in America. This tech startup is RYSE, and unlike Ring, you can still invest before their $1.90 round closes May 30.
Like how Ring disrupted home security, this company is revolutionizing smart blinds & shades.
With $10M+ in revenue, 200% YoY growth, and sold in 127 Best Buy stores, they are primed for massive expansion and forecast 5X in revenue this year.
Past performance is not indicative of future results. Email may contain forward-looking statements. See US Offering for details. Informational purposes only.