Crypto Market Insight Nov 2022 | Ewpple

 

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Ewpple - Crypto Market Insight Nov 2022

Current Situation
As a result of the FTX collapse, the crypto market crashed. For the time being, the market will remain weak due to contagion from the collapse.
The inflation rate declined to 7.7%, below market expectations of 8%. Future Fed fund rate increases will be smaller if this downtrend continues.

Economic Data
US Oct Inflation Rate 7.7% vs Fed target 2%.
US Oct Unemployment Rate 3.7%.
Fed Funds Rate 4%.

Crypto News
Temasek Holdings, the Singapore Sovereign Wealth Fund, is the single biggest victim, as it loss all US$275M in its FTX investment. FTX's meltdown affected BlockFi, Genesis Trading, Hbit, and HK AAX as well.

Investor Action
While serious, the FTX-induced crash won't doom the entire crypto market. Through the Dollar Cost Averaging strategy, long-term investors can invest periodically in major crypto and DeFi tokens. Always store purchased tokens in a non-custodian wallet, like Metamask. A wise way to invest is through index funds, like the Ewpple DeFi Crypto Index Fund (EWD).

Ewpple DeFi Crypto Index Fund (EWD) lost -29%.
Benchmark index lost -39% in the same period.
Benchmark index = S&P Cryptocurrency MegaCap Index (SPCMC) + Decentralized Finance Index (DEFX)

Crypto index funds can help you build wealth. Feel free to contact me for more information.

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