Binance promises massive 1,000-person hiring: Is this a sign of better times to come?
Binance revealed plans to hire 1,000 employees in several key areas by 2024, demonstrating its bullish outlook on cryptocurrencies. Binance will add 1,000 new employees in 2024. New recruitment is mainly concentrated in two areas. Hiring indicates an optimistic market outlook.
When the cryptocurrency market crashed in 2022, most exchanges immediately slashed costs. This was because exchanges were so dependent on how the market performed. Now, the situation is reversing. Binance, the largest exchange by trading volume, has announced plans to hire 1,000 new employees this year. The hiring spree is focused on several key areas, which to some extent bodes well for Binance’s future prospects.
When it falls below 70k, you think it is a pullback, no problem, and prepare to go long! In the end, it can't hold up at 65k, but you can jump farther if you squat! So it can't hold up at 60k either, and the teacher draws a line saying that this is accumulation!
Today, 55k can't stand, you decide to try to resist it! When it reaches 50k, you are really panicked, try to sell some positions! At 40k, you think you really have to run, and directly place an order at the current price to clear all positions!
Every time you eat the slowest, you wash the dishes.
The dealer takes over the chips in batches in the bear market, and the retail investors chase the chips in the bull market. Those who cannot afford to lose are leeks, and those who cannot lose are dealers. Leeks know pain, but they do not know fear. They would rather lose money than fear the market. Bullish news does not necessarily mean buying up, and bearish news often means buying down. The bull market often lasts nearly twice as long as the bear market. The personality of leeks: the more money they make, the more timid and calm they are, and the more losses they suffer, the more they worry.
A few years ago, the average person could buy 1 whole Bitcoin, but now they can only buy 0.1 Bitcoin, and in a few years, they will probably only be able to buy 0.0001 Bitcoin. As the price rises rapidly, more and more participants will open, but the average holding will decrease. This is equivalent to the continuous dilution of stocks. In ten years, there may be a billion Bitcoin participants. The process of Bitcoin becoming popular is the process of becoming a currency.
Yesterday, Bitcoin and Ethereum fell sharply, which is closely related to the following two main reasons.
First, the stock market is rising. The main outflow of funds yesterday was ETF funds, and the companies behind these funds are not only involved in the cryptocurrency circle, but also traditional stock investment companies. For companies, it is crucial to achieve wealth growth, whether in the stock market or the cryptocurrency circle. When the stock market is thriving and the cryptocurrency circle is sideways for a long time, companies withdraw funds and invest in the stock market to seize short-term profits. This is reflected in the rapid decline in prices after the funds flee on the Bitcoin and Ethereum market.
Second, the geopolitical influence of the Middle East. The trading channel of the Middle East resistance organization is cryptocurrency. Given the precedent of Binance banning Hamas trading accounts, the intensification of conflicts has inevitably led to a large outflow of this part of the funds, which is reflected in the organized retail investors fleeing on the market. Now it can be basically determined that these factors are the cause. With the superposition of two reasons, Bitcoin has directly reached the 60,000 mark.
2 Cheap Cryptocurrencies to Buy Before the DeFi Renaissance Soars
One of the most transformative innovations in cryptocurrency is decentralized finance (DeFi), a system that allows users to access financial services such as lending, borrowing, and trading directly on the blockchain without the need for intermediaries such as banks. DeFi took center stage in the last crypto bull run, driving mass adoption and growth. However, in the current bull cycle, DeFi has lagged behind. But there are signs that this is starting to change. With lower interest rates, traders may be more inclined to take on additional risk, and with liquidity pouring in, a DeFi renaissance could be on the horizon. If you want to invest in the best DeFi projects, look no further than these three standout cryptocurrencies.
Although whales profited before Dogecoin peaked, on-chain activity remained high
Changes in the macroeconomic environment may also have an impact on Dogecoin's on-chain activity. For example, factors such as inflation, monetary policy, and geopolitical tensions may lead investors to seek safe-haven assets or high-risk, high-return investment opportunities. As a cryptocurrency with certain special characteristics, Dogecoin may attract more investors to participate in a specific macroeconomic environment.
FTX creditors will recover only 10-25% of funds as restructuring plan faces legal hurdles
As the FTX saga continues to unfold, creditors of the troubled cryptocurrency exchange are nervously waiting to receive compensation following the platform’s dramatic collapse in November 2022.
Creditor activist Sunil Kavuri recently suggested that affected parties may be able to recover 10% to 25% of their holdings. This estimate comes as stakeholders grapple with the ongoing restructuring process and a court hearing scheduled for October 7 that will determine the nature of the payment — whether it will be in cryptocurrency or cash.
The second reset to zero: blind investment + contract liquidation + being cheated + mine closure, a quadruple blow!
Let's take a time machine and go back to the week before 2021/5/19. In the Inner Mongolia mine, 50,000 loads are fully used. Some mining machines are jointly mined by mining machine owners. The net profit is the highest at the mine level. Other mines are managed, and I mine with a large number of machines for myself. Every day when I open my eyes, my account is +0.5 cakes, and I make a net profit of 15 cakes per month. The wallet peaks at 120 cakes. 120 cakes are nothing for the predecessors in the mining circle, but it is a considerable fortune for ordinary people. People are greedy. If you have 10, you want 100. If you have 100, you want 1000. After the first reset to zero, I reminded myself not to play contracts. There are all kinds of groups outside showing orders and myths of getting rich, but I still couldn't help it. I want a smaller multiple, don't be ruthless, I will leave when it reaches 80,000 (the consensus was 100,000 at that time). I used 50 cakes to open a long order of 150 cakes when the price fell from 64 to 60,000. I calculated that if it rose to 80,000, I could make about 3 million dollars, plus the principal of 12 million dollars, 80 million RMB. I think I will definitely stop at that time, haha, a good wish...
I will never forget 2021/4/18, the price of cake dropped from 60,000 to 51,000. I watched it fall all the way in front of the computer, my heartbeat soared instantly, I had difficulty breathing, and my head felt like I was hit by a club. For a long order of 150 cakes, every 100 drop in cakes, I lost 15,000 dollars, and finally fell 9,000 dollars, with a paper loss of 30 cakes! That is 1.35 million dollars. I started to smoke non-stop and tremble non-stop, and as the cake rebounded, I slowly began to calm down, and the loss figure became smaller and smaller. After more than 20 hours, watching the trend slowly rise, I finally slept for a while. On the evening of April 22, 2021, the price of cakes began to fall again. I experienced the same situation as on April 18 again. Finally, at the position of 47,000, I pressed the closing button, and 50 cakes became 10!
I was stupid for a week, but fortunately there was still mining income. After a few days of rest, I felt better and made up my mind not to touch the contract again. The mine received a power outage notice, and the autonomous region investigated mining companies. The leaders with good relations told me that it was okay, and it would be fine after the limelight passed. We actively cooperated. Haha, this level is forever!
Don’t you have 120 cakes, and the other 70? Invest in projects, borrow, women, buy luxury cars, there is no specific details of how much I spent, borrowed, and was cheated, and finally it was all gone.
In a desperate state, the last 10 cakes, June rebounded 40,000, shouting that the bulls are back, come back quickly, I believe it
I, long position of 20X coin On June 22, 2021, for the second time, it officially returned to zero!
Sui’s Token Economic Model Is Extremely Dangerous: Accusations of Founder’s “Greed”
It’s time to talk about Sui again. This was an article of mine that became popular at the time.
Sui technology itself has great potential, but its token economics and 52% of "unallocated" SUI are the biggest black boxes. Sui’s design is great, except for its token economics: SUI claims to have a total supply cap of 10 billion, of which 52% will be “unallocated” before 2030. But the problem is that there are more than 8 billion SUIs staked, and more than 84% of the staked supply is held by the founding team. So in a way, SUI is undoubtedly centralized, that is, the founders control most of the supply, and there is no lock-up period or legal guarantee.
Powell's speech lowered expectations for a sharp rate cut, and both US stocks and Bitcoin achieved their best performance in history in September
Improved regulatory expectations: The market expects that US cryptocurrency regulation will be clearer in the months after the US presidential election, which will boost market sentiment. Regulatory clarity is crucial to the development of digital currencies such as Bitcoin. Investors are looking forward to improvements in the future regulatory environment, which also enhances their confidence in investing in Bitcoin
Japanese listed company Metaplanet once again increased its holdings by 107.91 BTC
Industry development trend: As the cryptocurrency market continues to develop and mature, more and more companies and institutions are beginning to pay attention to and participate in it. Metaplanet may hope to occupy a place in the emerging cryptocurrency field by increasing its holdings of Bitcoin and seize the opportunities of industry development Impact on the cryptocurrency market: As a listed company, Metaplanet's increase in holdings may attract the attention and imitation of other investors, have a certain demonstration effect on the cryptocurrency market, and drive up the price of Bitcoin.
Bitcoin joins DeFi in a big way: 1% of supply is now locked!
According to IntoTheBlock, Bitcoin’s integration with decentralized finance (DeFi) is accelerating, with new data indicating that 1% of BTC’s total supply is now locked in DeFi systems. The launch of Coinbase’s new Bitcoin-pegged token cbBTC and increased demand for Bitcoin yields are the main factors driving this move. The development represents a deeper connection between Bitcoin and the DeFi ecosystem, providing holders with an additional way to access DeFi applications on the Ethereum and Base blockchains through cbBTC.
Bitcoin’s Bearish September: Prepare for Surprisingly Bullish October Surge
As of this writing, Bitcoin has surged 8.7% in September, breaking a historically bearish trend. Expectations are high for a massive rebound in October, echoing Uptober’s sentiment. According to our data, Bitcoin (BTC) has surged 8.7% over the past month, defying its historically bearish trend in September. The rise in Bitcoin prices sets the stage for a generally bullish October for the leading digital asset. Some market participants are even predicting a price target of $70,000 for BTC in the coming weeks from the current $64,000 level.