Market corrections and the Federal Reserve

Source: Coinmarketcap.com

We just had another correction! What’s happening? The answer lies in the broader macroeconomic environment. Let’s talk about what the Fed is doing, the consequences, and what this means for crypto.

BTC & ETH look ready to make crypto fun in Q4

FOUR THOUSAND. Beeple, popular crypto & NFT artist. Source: Twitter.

So, what’s going on in crypto?

After months of uncertainty, bitcoin & ethereum look ready to lead the crypto market into a very fun Q4 of 2021.

Crypto Profile #1: Axie Infinity ($AXS)

Axie Infinity and its animated pets are taking the crypto world by storm. Image source: playtoearn.online.

Axie might be the weird and most incredible cryptoasset in existence. It’s a viral video game. But, it’s also the world’s #1 asset by current revenue, user growth, and P/E ratio.

ETH Bull Run Entering New Phase

ETH MVRV Ratio. May 12, 2021. Source: Glassnode.

Although this bull run is different in multiple ways, investors in ETH should be cautious. ETH’s Market Value to Realized Value (MVRV) ratio and Net Unrealized Profit/Loss (NUPL) are touching multi-year highs.