In this blog post I want to share with you some of my thoughts and assessments on the current developments in the crypto market. We’ll talk about Huobi, Binance, Tether, and the Digital Currency Group. So, let’s get started!
Huobi and Binance: What’s behind it?
Huobi and Binance: Drama in the Background
There is very little happening on the crypto market in terms of prices, but there is a lot bubbling up in the background. What is the drama surrounding Huobi and Binance all about? There are signs that not everything is going according to the rules. There are conflicts, conflicts of interest, and so-called “arms length dealings.” These are things like, when in a group of companies, the companies do certain deals with each other, how do all the contracts and so on work?
Digital Currency Group: An Update
Digital Currency Group seems to be entering a calmer period. They’ve gotten an investigation that it seems like everything wasn’t above board here. This is a big issue that we’ve discussed many times.
Where do we go from here?
I think we will see a lot more of the same. The other point, of course, is that one of the main features with most cryptos is simply the price. And if that doesn’t move, of course, or does nothing, then yes, it’s demoralizing. I actually look at utility, I look at what the teams behind it are doing, I look at how projects are evolving and that’s clearly more important and clearly more relevant to me here.
Overall markets and inflation numbers
We have the end of the “earning season”, which usually goes six weeks always after the quarter ends. Honestly, it’s actually happening exactly what was expected. August is extremely quiet, as is July.
The inflation numbers for July come out this week. I’m expecting 3.3%. Anything slightly above the 3% is expected by the market. If we actually fall below the three percent, that would be extremely bullish. If we go much higher than 3.3%, then I think fear comes in.
Closing
I hope you use this time for good. Don’t look at prices so much, if you’re involved in a project, look to build there, deliver value and then it should all be really good. I wish you a super nice week, stay healthy, go full throttle and do well!
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Julian
CEO Cake Group & Bake
