• Major cryptocurrencies have modestly positive bias on Tuesday, ahead of Wednesday’s US inflation data.
• Bitcoin and Ether are the two major cryptocurrencies trading in the market.
• BlackRock’s spot bitcoin exchange-traded fund (ETF) application could boost the likelihood that the US Securities and Exchange Commission (SEC) approves it.
Major cryptocurrencies are trading with a modestly positive bias on Tuesday, but are still mostly within recent ranges ahead of Wednesday’s key US inflation data. Bitcoin (BTC) was last trading up around 1% in the last 24 hours in the $30,600 area, while ether (ETH) was last around $1,870. Positive reporting in the crypto press regarding BlackRock’s spot bitcoin exchange-traded fund (ETF) application could be acting as a mild tailwind for sentiment. Reports allege that BlackRock’s application goes beyond the surveillance of spot trading to also include an agreement to share exchange user data with regulators, should they so request it. This could further boost the likelihood that the US Securities and Exchange Commission (SEC) approves the Wall Street giant’s ETF application.
Best Crypto To Buy Now
For crypto investors keen to diversify their holdings away from blue-chip names like bitcoin and ether , here are some of the best coins to consider buying on Tuesday:
Mina Protocol (MINA), is native token that powers zk-SNARKS powered Mina Protocol blockchain, continues to trend to downside within bearish trend channel since February. MINA/USD was last trading in $0.45s reversing back under 21 and 50Day Moving Averages after probing multiweek highs at $0.52 earlier today session whereby technical outlook remain bearish however if cryptocurrency is able break out from bearish trend line then can see substantial medium term gains hence why could be good crypto buy option .
DeeLance is innovative web3 project building crypto & NFT powered metaverse which is touted one 2023 hottest upcoming crypto start ups aiming at uniting freelancers & employers promises overhaul remote working forever & 76billion dollar recruitment sector using decentralization & transparency blockchain removing overly powerful middlemen like Fiverr & Upwork abusing freelance workers & employers alike past decade generating huge hype web 3 circles observers think can upend still very web 2 platform centric freelance gig work economy already raised whopping near 1 5 million few months since launch .
Investing in any cryptocurrency or other investments comes with risks involved including market volatility , liquidity risk , regulatory risk , custodial risk etc . investor must do thorough research prior investing into any such asset class .
It remains important for investors to understand all risks involved before investing into any cryptocurrency or digital asset classes meanwhile can look potential new entrants Mina Protocol , DeeLance as exciting investment opportunities for diversifying their portfolios .