Getting the scoop early on in the cryptocurrency market frequently entails purchasing front row seats to a major rally.
As the proverb goes, “Buy the rumour, sell the news.”
As a digital-native asset class, cryptocurrencies’ prices are obviously subject to market-moving news events that disseminate instantaneously via the internet. Keeping an eye out for optimistic announcements can help crypto traders earn massive profits, but navigating the crypto news landscape can be challenging.
Two significant impediments stand in the way: the volume of potentially relevant information and the challenge of always being among the first to receive the truly important news. Extensive research indicates that three sorts of crypto-related events have the most constant effect on digital asset prices: listing announcements, staking announcements, and large partnerships. This understanding helps traders focus on the developments that are most likely to interest them.
Now, how can crypto enthusiasts ensure that they are among the first to learn about potentially crucial stories? There are numerous technology options available, ranging from carefully selecting one’s Twitter alerts to using various crypto data terminals.
Markets Pro subscribers, have it easy. They gain access to NewsQuakesTM, a machine learning tool that monitors thousands of primary sources continuously and immediately notifies the Markets Pro community within minutes, if not seconds, of new content.
Three scenarios illustrate how Markets Pro subscribers could have benefited from the strength of NewsQuakesTM in March.
ANC: The unveiling of the staking programme starts off a rally
Staking announcements can be significant market movers, particularly when a staking programme for a particular asset is launched on a prominent platform and has attractive terms. Anchor Protocol’s introduction on Binance Staking with an annual percentage yield of up to 40% on ANC was a natural fit.
The announcement, which was delivered as a near-instant NewsQuakeTM to sourced from Binance’s Twitter account. When the news broke, the token was trading at $3.79 and swiftly gained momentum. ANC’s price reached $4.90 eighteen hours later and then soared even higher, breaching the $6.00 barrier by March 5.
SNX: A listing announcement with a double whammy
Another unfortunate tweet pushed the price of Synthetix Network Token far higher (SNX). The announcement was made regarding SNX’s listing on Binance.US. Interestingly, there were two Twitter announcements of the planned listing, although the first one (the first NewsQuakeTM symbol on the chart on March 8) reportedly did not generate much interest. However, word of the actual opening of SNX trading (the red circle in the figure) caused the price of SNX to surge from $3.98 to $4.77 within 23 hours – a 19.8% rise.
SAND: A huge cooperation results in substantial gains
When compared to listing and staking news, partnership announcements appear slightly less frequently among the most noteworthy NewsQuakesTM. Occasionally, though, there are collaboration agreements whose price-raising impacts outweigh those of the majority of other NewsQuakesTM. As a general rule, whenever you learn of a non-crypto firm partnering with a crypto project, the price of the related token is likely to increase.
The banking behemoth HSBC is undoubtedly a name that most traders are acquainted with. Its entry into the Metaverse, assisted by The Sandbox, was expected to result in a large increase in the SAND token’s value. Indeed, SAND’s price soared about 30 minutes after the Markets community was alerted to the news, surging from $2.85 to $3.28 (a 15% rise) in less than 18 hours.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.