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JUPUSDT

Market Update - February 2, 2024Weekly Market Update - February 2nd 📨 Fed Votes to Hold Interest Rates Causing Stocks to Tumble SEC Set to Approve Ethereum ETF by May Record Breaking Trading Volumes for Solana Dex in Wake of LSE:JUP Airdrop Ethereum ETF: According to a new report by British multinational bank Standard Chartered, the U.S. Securities and Exchange Commission (SEC) is set to approve Ethereum (ETH) exchange-traded funds (ETFs) by the final deadline for approval on May 23, potentially doubling the current price of ETH. The report expressed strong confidence in an approval, citing the fact that the regulator has not classified ETH as a security. $700M LSE:JUP Airdrop to Solana Wallets: One of the biggest token airdrops ever took place on the SOL blockchain this week, as the Jupiter network started distributing roughly $700 million worth of its JUP token to nearly a million SOL wallets. Token trading on Solana decentralized exchanges briefly surpassed trading on Ethereum-based exchanges in December, and with the latest JUP airdrop, it could very well flip in favor of Solana again. Stocks: Markets closed down -1.61% and -1.94% respectively, caused by the pushback of an interest rate cut, and amplified on the day due to a number of the tech giants showing underwhelming earnings on Tuesday evening and opening lower on Wednesday morning. 🏦 Topic of the Week: What is an ETF? Read more here
GEMINI:BTCUSD
by Gemini
2
JUP: new ATH incoming?Jupiter is recently showing some signs of strength. This makes me think the token is ready for a new chapter. The team is working hard to improve the Metis Messenger app (the 18th of february there will be an important update). DeFi is also coming to jup and it willl be very positive cause it will let hodlers get an APY just by holding jup tokens. Jup is an interesting project cause it's keeping its own identity even when integrating with other chains. Price action: -Jup is printing a beautiful bullish flag in the daily chart, this is most of the time a continuation pattern and it's normal to have a volume weakness during the formation of those types of patterns. -A bullish flag don't last much, at least 1 to 3 weeks. -if we break upward i expect at least a 70% run which will take jup over the old trendline broken in november. This trendline is important cause it was held by jup price for 121 days! So we will obviously interact with it again. fibonacci: If we measure the fibonacci trend based extension from the beginning of the impulse to the top of it, until the bottom of it ( assuming the bottom was 0,023$), we can expect a run towards 0,13$. Final consideration: Jup is bullish recently and i think it can continue higher, we just need the team to continue delivering updates and the community to make their voices louder than ever! Here for you, as always, CryptoSoap!
Long
by UnknownUnicorn19016152