"Crypto Summit to be held in 7 days... short-term rise possible in cryptocurrency market"
Summary
- It was reported that there is a possibility of a short-term rise in the cryptocurrency market due to the Crypto Summit scheduled for March 7.
- Analyst Peter Chung, citing David Sacks' remarks, stated that the summit could have a positive impact on the market until it takes place.
- The Chicago Mercantile Exchange's plans to list Solana futures could fuel a market rally, including a rise in Solana's price.
Analysis suggests that the cryptocurrency market may rise until the Crypto Summit scheduled for March 7 (local time).
On the 2nd (local time), Peter Chung, an analyst at Presto Research, said in an interview with The Block, "Recently, White House crypto czar David Sacks hinted that there will be a lot happening at the Crypto Summit on Friday," adding, "Considering this, the market's upward trend could continue until Friday." However, he added that there could be impacts from unfavorable macroeconomic issues or earnings reports from major tech companies.
He continued, "Updates on the Chicago Mercantile Exchange (CME)'s plans to list Solana (SOL) futures could fuel the Solana rally," adding, "CME could additionally list futures products for XRP, Cardano (ADA), and others beyond Solana."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
