An overview of what is happening in the crypto markets, summarised by Crypto Finance AG Senior Trader Patrick Heusser in the market commentary.
Market commentary
Good Morning!
It's been another "green" weekend for the DeFi sector, but also for ETH. I have not witnessed that much talk about the ETHBTC cross for a long time.
There is definitely some rotation going on out of BTC and into ETH or smaller (mainly) DeFi coins. Do not get me wrong, the rotation already started late last year, but over the past one to two weeks, it has picked up in speed (and for some tokens, also in craziness).
Our desk is currently looking to rotate out of our long DeFi token exposure into some "older" larger altcoins. But we have not yet decided which ones exactly yet, and we still need to fine tune our execution plan. Luckily, the market is still moving in our favour, but we have the sneaking suspicion that we have reached a local top for DeFi tokens.
If you would like to discuss any of these topics more in depth simply contact our trading desk.
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