Every Monday morning, we cover the latest developments and trends in the dynamic and ever-evolving world of cryptocurrency. From price movements, to industry news, and our favorite resources, we strive to provide our readers with a comprehensive overview of the crypto landscape.
This week we take a forward-looking view at an industry that is slowly but surely recovering from a brutal bear market: While dominos continue to fall in the wake of the FTX fiasco, the World Economic Forum wrapped up in Davos.
Market Summary:
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Other notable coins include:
Market Trends:
As of 01/23/2023 12:30 AM EST
Keep an eye on the market here ๐ Cryptocurrency Prices
In the cryptocurrency community, there's always something going on. Here are a few events and happenings that you might be interested in:
Looking to learn more about cryptocurrency and blockchain? Here are a few resources that we recommend:
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This week, we're taking a closer look at Polkadot (DOT).
Polkadot (DOT) is a cryptocurrency that is used as the native token of the Polkadot blockchain network. The Polkadot network was created to provide a more flexible and scalable infrastructure for decentralized applications and blockchain projects.
Dot is used for governance and staking on the Polkadot network, allowing holders to vote on protocol upgrades and earn rewards for supporting the network's security. Dot was initially released in 2017. It is considered to be one of the top 20 cryptocurrencies by market capitalization.
Dollar-cost averaging allows you to buy smaller amounts of an asset over a long period of time at different prices. As the cost of assets moves in a zigzag manner, investing at regular intervals allows you to buy an asset at an average price versus buying a huge chunk at one price point.
๐ Invest consistently
Recurring purchases are an effective solution for traders looking to invest at an average price over a longer timeframe.
๐ Forget complex price movements
As more institutional and retail investors enter the crypto markets, prices of cryptocurrencies are gaining stability. However, you may still not want to take any significant risks with your money by trying to time the market.
๐ฐ No need for a large sum of money
Investing a considerable amount at once is not possible for everyone. The dollar-cost average approach can be a good choice for investors looking to slowly enter the cryptocurrency market.
Disclaimer: This article is not intended to provide investment, legal, accounting, tax, or any other advice and should not be relied on in that or any other regard. The information contained herein is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of cryptocurrencies or otherwise.