Solana, Chainlink And FTX Token All Keep Rising As Market Heats Up

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Last Updated on 7 September 2021 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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As we enter the second week of September, all signs point to green for the crypto market apparently. At the time of writing, Bitcoin is trading for $52,600 again, DeFi coin Chainlink is up 40% in a week to reach a value of $35 and FTX Token set a new all time high of almost $83, up 80% in the past week alone. They are all eclipsed by Solana though, which has been setting new all time highs for two weeks in a row now.

This morning Solana is trading upwards a hefty 32% and changes hands for $188. Ranking up in the top 10 faster than before.

To the moon it almost seems. Everything rosy on the horizon, or is it?

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Crypto Fear And Greed Index Points To Greed

The point is, ladies and gentleman, that greed — for lack of a better word — is good. Greed is right. … Greed clarifies, cuts through, and captures the essence of the evolutionary spirit. Greed, in all of its forms — greed for life, for money, for love, knowledge — has marked the upward surge of mankind.

After so many years, the ominous quote once spoken by Michael Douglas’ character Gordon Gekko in the epic movie Wall Street, still rings true when one looks at the stock market or at crypto markets for that matter.

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However, it is worth asking: within a capitalist system, is greed bad or is it good? Is it better to have greedy billionaires that just want to create ever bigger companies and therefore come up with new ideas and ditto jobs for all, or is it bad because it creates a society where discrepancy between rich and poor just gets bigger.

By now, the greed is good sentiment seems to have hit the crypto market at well, as the Crypto Fear and Greed Index, which measures how investors are feeling about the world of crypto, shows Extreme Greed.

Problem is that whenever this zone was reached for a few days in a row, it could also be a reading that a corrective move  could be coming. So as always, do your own research and beware of what may come.