After the hectic first quarter, all eyes are on the cryptocurrency market. translated into the second quarter.
In the crypto industry 2023 The first quarter of the year was quite fast and hectic. The sector, which has evolved into a bear market, With the bull run in 2023 managed to have a colorful first quarter. In this quarter, bitcoinAnd EthereumThe rises on the side were noteworthy. Also, the majority of altcoins received bull signals.
After all this first quarter, crypto investors are focused on the second quarter in light of possible news feeds and planned events.
What to Expect in the Second Quarter?
Looking at the first quarter report of the crypto money market, it was observed that many cryptocurrencies entered the sector in a sensational way. Arbitrum attracted attention especially with the airdrops. In the second quarter, the sector was also at the forefront of the returns and effects of the global economy. After all these flows, what kind of second quarter awaits crypto investors? We’ve compiled what’s going to happen in the crypto industry in the next 3 months.
1- The Ripple Case and Its Possible Consequences
It has been going on for years and has made the crypto industry look forward to it. Ripplewith SEC The case is in its final stages. Especially in conversations on Twitter, It is rumored that Ripple will win the case and the crypto industry will breathe a sigh of relief. . However, there is no certainty about when this case will be concluded and who will win.
Among all these streams, the shares of Ripple supporter John Deaton drew attention. Ripple attorney Deaton, He claimed that between 30 and 90 days Ripple would win the case. . A few lawyers are also waiting for the case to be concluded, the court has started to get all the data.
In times when the crypto industry is trending upwards, Ripple’s news feeds can be a bit of a lifeline to the markets. However Ripple news is more effective in pricing in terms of XRP. When we examine all these processes, the second quarter RippleAnd XRP seems likely to be moving. If the case is concluded, the possibility of seeing an upward trend stands out. However, if the case is not concluded, there may be a decrease in expectations on the XRP side. It is also among the topics discussed that if XRP loses the case, the markets may be severely affected.
2- Ethereum Shanghai-Capella (Shapella) Update and Its Effects
In the crypto industry, one of the highlights of the second quarter was It can be shown as an Ethereum Shanghai-Capella (Shapella) update.
It is seen as one of the most important updates expected since last year. shapella, Ethereum It emerges with the aim of making . However, one of the most important issues that Shapella will affect the markets is the ETH assets that are locked. 3 ETH close to $3 billionIt will unlock after Shapella update. This could affect Ethereum and indirectly the cryptocurrency market.
Also, the fact that Ethereum is more adapted to the deflationary system and takes on a faster structure can be a lifeline in the ecosystem. Because on the smart contracts and decentralized applications side, Ethereum network activity is observed. One of the most actively used blockchain networks Ethereumcan be compromised by sagging in the web.
The second largest cryptocurrency in the crypto industry by market cap. ETH is focused on this update. The update that the Ethereum network will experience has the potential to affect the course of the second quarter.
3- Chiliz and Sports Initiatives
Fan TokenOne of the pioneer projects of the ‘s Chiliz ( CHZ), a new He carries the views that he can start the Fan Token bull. . The second quarter seems to be quite active and active for Chiliz.
Popular Fan Tokenand sports organizations project ChilizAccording to CoinMarketCal, 10 May 2023 launches the sports blockchain. In these days when the fate of Fan Tokens is wondered, a new door can be opened in the industry with such a move. Chiliz, Fan TokenIf it successfully advances its initiatives, it has the potential to start a new trend in the second quarter.
However, as it is difficult to predict the future of the industry from a simple blockchain update, Chiliz’s different initiatives in this process can be considered.
the past day Strong rises in Fan Tokens give hope for the second quarter.
4- SEC and CFTC Pressures
Just like in the first quarter, the pressure from US regulators on crypto is expected to continue in the second quarter. Breakthroughs by the SEC and CFTChas the potential to influence the trajectory of the crypto industry.
Binance, Kraken, Huobi Going after major exchanges like FTX, these regulators say they will not stop until full security is established on the crypto side. Again The reflection of the pressures of the CFTC and SEC on the crypto side is not critical.
However, considering the second quarter, it seems likely that regulators will put many crypto projects on their radar, especially Binance. This can set up a bear and bull cycle. In the coming period, it is discussed that Binance’s investigations will be clarified and many crypto processes will be brought to the litigation level.
