Has crypto found its footing?

Stocks began yesterday session off to a rough start, but managed to turn it around quickly.  The market momentum helped reclaim early morning losses bringing the Nasdaq to close up 1.75%.

Tesla and Meta were a few of the biggest movers on Tuesday, rising 2.50% and 5.10% respectively. 

High valued tech stocks, like Meta, are still a distance away from their previous all time high. Meta is down over 50% from their all time high in November.

Is the bottom in?

Bitcoin reclaims the $20,000 mark after hitting the low 19,000's earlier in the day. Investors finally catch some relief and are hoping that the worst days are behind us. 

Ethereum also rallied clearing the $1,100 mark. DeFi application valuations were some assets that were hit the hardest during this downturn, but have recently flattened out.

Total Value Locked (TVL) is the value of assets that are locked on a variety of decentralized apps. The amount locked has dropped over 70% off it's high largely due to big on chain liquidations. 

TVL is seen as the credit market of crypto. This is where users can deposit, loan, and borrow in many different ways. Recently, the downfall of Celsius and 3 Arrows Capital, has brought attention to their on chain holdings. By looking at someone's on chain loans and deposits, we can get a good idea of the financial health of the user.

TikTok controversy 

US regulators have shown concern on privacy issues relating to the massive social media app, TikTok. According to YahooFinance, TikTok has had over 320 million downloads and doesn't seem to be slowing down. 

The parent company ByteDance Ltd, said in a letter that their employees were able to access US user data. They also claimed that China doesn't receive any of this information, but many find that hard to believe.

It brings into question how, not only TikTok, but other social apps track and store data. Do you think your information is safe in the hands of apps like TikTok?

Disclaimer:Our articles are NOT financial advice, we are not financial advisors. All investments are your own decisions. Please conduct your own research and seek advice from a licensed financial advisor.