Over 100,000 Bitcoins Added to OTC Platforms in Six Weeks, Says CryptoQuant CEO
According to Foresight News, Ki Young Ju, the CEO of CryptoQuant, has reported that 103,000 bitcoins have been added to over-the-counter (OTC) platform wallets over the past six weeks. This increase and a drop in market prices suggest that these OTC platforms have yet to find buyers for these bitcoins.The addition of such a significant number of bitcoins to OTC platforms indicates a potential increase in supply. However, the corresponding decrease in market prices suggests that demand may not be meeting this increased supply. This could potentially lead to further price drops if buyers are not found soon.The situation underscores the volatility of the cryptocurrency market, where supply and demand dynamics can significantly impact prices. It also highlights the role of OTC platforms in the market, which often act as intermediaries between large-scale buyers and sellers.The information provided by Ki Young Ju provides valuable insight into the current state of the Bitcoin market. It remains to be seen how this situation will evolve and what impact it will have on the overall cryptocurrency market.
Major Token Unlocks Expected Next Week, Total Value Exceeds $100 Million
According to PANews, data from Token Unlocks indicates that a significant one-time unlocking of ALT, YGG, OP, PRIME, and other tokens is expected next week. The total value of the tokens to be released exceeds $100 million.
On June 25 at 8 a.m. Beijing time, approximately 4.66 million Acala (ACA) tokens will be unlocked. This represents 0.46% of the current circulating supply, with a value of about $330,000.
Later the same day, at 6 p.m., approximately 105 million AltLayer (ALT) tokens will be unlocked. This represents 6.92% of the current circulating supply, with a value of about $20.3 million.
On June 27 at 10 p.m., approximately 16.69 million Yield Guild Games (YGG) tokens will be unlocked. This represents 4.48% of the current circulating supply, with a value of about $10.7 million.
On June 28 at 8 a.m., approximately 8.57 million SingularityNET (AGIX) tokens will be unlocked. This represents 0.67% of the current circulating supply, with a value of about $5.7 million.
On June 30 at 11:30 a.m., approximately 90,000 Tornado Cash (TORN) tokens will be unlocked. This represents 2.41% of the current circulating supply, with a value of about $285,000.
Earlier that day, at 8 a.m., approximately 750,000 Echelon Prime (PRIME) tokens will be unlocked. This represents 1.83% of the current circulating supply, with a value of about $8 million.
Finally, also on June 30 at 8 a.m., approximately 31.34 million Optimism (OP) tokens will be unlocked. This represents 2.88% of the current circulating supply, with a value of about $56.7 million.
Join the #AirdropGuide campaign for a chance to win up to 500 FDUSD! Share your knowledge of what crypto airdrops are and how they work. Include insights on different types of airdrops, examples, and effective strategies to find and participate in them. Campaign Period: 2024-06-14 00:00 to 2024-06-19 23:59 (UTC) To Participate: Post an explanation of crypto airdrops and how they work using the #AirdropGuide hashtag on Binance Square. Include: Explanation of what a crypto airdrop is;Insights on different types of airdrops (e.g., bounties, holder drops, etc.);Real-life examples of successful airdrops;Strategies for finding and participating in airdrops.
Make sure your post has a minimum length of 600 words. Guidelines: Make certain your shared content is original and filled with insightful information. Posts with high engagement lacking original content may be disqualified. Winner Selection: Five posts generating the most interaction will each be rewarded with 100 FDUSD.
Terms and Conditions: This campaign may not be available in your region.Submissions will be evaluated by a panel from the Binance Square team, based on topic relevance, formatting, research quality, factual sourcing, and originality. Content must also align with Campaign Rules. Only content no shorter than 600 words will qualify for the rewards.Posts that attempt to boost engagement by exploiting Red Packets and giveaways will be disqualified.Should a creator be declared a winner and be rewarded in any campaign, but subsequent findings reveal a violation of the campaign's rules on their part, their eligibility for future rewards will be suspended. The suspension period will commence from the end date of the campaign where the violation occurred and will last for 30 days.The content needs to be posted in Binance Square organically to qualify for the reward.In order to be eligible for a reward, your account must be completely configured, which includes a properly set up username and a profile picture. Winners of the week will be notified within 14 days via a push notification under Creator Center > Square Assistant. Entries by Media & Project partners will not be considered for this campaign.The FDUSD token voucher rewards will be distributed within 30 working days after the activity ends. Users may check their rewards via Profile > Rewards Hub. The validity period for the token voucher is set at seven days from the day of distribution. Learn how to redeem a voucher.Illegally bulk registered accounts or sub-accounts shall not be eligible to participate or receive any rewards. Binance reserves the right to disqualify any account acting against the Binance Square Community Guidelines or Terms and Conditions.Binance reserves the right at any time in its sole and absolute discretion to determine and/or amend or vary these terms and conditions without prior notice, including but not limited to canceling, extending, terminating or suspending this activity, the eligibility terms and criteria, the selection and number of winners, and the timing of any act to be done, and all participants shall be bound by these amendments.Binance reserves the right of final interpretation of this activity.Where any discrepancy arises between the translated versions of this announcement and the original English version, the English version of this announcement shall prevail.Additional promotion terms and conditions can be accessed here.
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Protecting Investors: Strategies Against Cryptocurrency Scams
Cryptocurrency fraud comes in many forms, and even knowledgeable individuals can fall into these traps. This complexity makes it hard to prevent crimes before they occur. Governments struggle to stop these frauds because perpetrators constantly devise new methods.
Fraudsters often create cheap websites with fake stories to deceive people. Initial small investments yield returns, encouraging larger investments. Eventually, fraudsters extract significant amounts before disappearing, demanding extra fees under various pretexts to withdraw funds, trapping individuals into investing more as they lose money.
In this ecosystem, most lose money while a minority earns it the hard way. The time spent is often more valuable than the money earned. The secret to making money involves deep experience and learning from severe failures. Many have learned from harsh experiences, and this wisdom is why the market doesn't rise easily. Gains are minimal, or costs outweigh them. Yet, the cycle continues, and there will eventually be another rise. This is why we persevere despite the difficulties.
Why would anyone give you money in such a tough environment? Why should you be the lucky one in a market where everyone seeks wealth? We must all question this, calculate accordingly, and consider the philosophical aspects of the market to succeed. Avoid easy money offers. For every airdrop event, use a new wallet, and don't reuse wallets with assets or previous airdrops. This way, you might win an airdrop, but fraudsters can still steal it even if you don't have money. #Barisyildiz
Here are some of my strategies for earning free crypto:
1. I research and complete simple tasks to earn free coins. 2. I avoid challenging tasks because we need to save time and inform our community about digital servitude. This is also a gain because future tasks will be easier, allowing us to complete more tasks with less effort. 3. If a task involves a coin that has just been released, I go long on that coin as soon as I hear about it. Near the task's end, I exit the long position a day early and open a short position with low leverage. 4. Locking stablecoins in exchange for other coins is our most important tool because it provides constant earning potential and most crypto enthusiasts do not hold cash. We earn when we buy, and during sharp declines, it's best not to be involved. Thus, while collecting free coins, we also remain partially in cash. 5. If holding a coin in spot earns me another free coin, I open an isolated leverage position on the held coin equivalent to my spot holdings with 1x leverage. This way, if the spot price drops, I won't lose in the short position, making the gift coin essentially free. 6. I try to research airdrops with friends and exchange information. Sometimes market insiders suffer from information blindness, while the insights of less informed individuals can be accurate.
The most important principle is to act according to the uncertainty principle in the crypto and commodities universe. In an ecosystem dominated by uncertainty, we must diversify and increase probabilities. We must carry this awareness together. The reality is that no one can predict what will happen. We observe the reactions of millions of minds like candles; fluctuations sometimes cause loss, sometimes wealth. However, the goal should be to minimize risk, not to try to get rich, but to aim to make money. Statistics show that the number of people getting rich from crypto is very low, but the number of people making money is very high.
Here are some of my strategies for earning free crypto:
1. I research and complete simple tasks to earn free coins. 2. I avoid challenging tasks because we need to save time and inform our community about digital servitude. This is also a gain because future tasks will be easier, allowing us to complete more tasks with less effort. 3. If a task involves a coin that has just been released, I go long on that coin as soon as I hear about it. Near the task's end, I exit the long position a day early and open a short position with low leverage. 4. Locking stablecoins in exchange for other coins is our most important tool because it provides constant earning potential and most crypto enthusiasts do not hold cash. We earn when we buy, and during sharp declines, it's best not to be involved. Thus, while collecting free coins, we also remain partially in cash. 5. If holding a coin in spot earns me another free coin, I open an isolated leverage position on the held coin equivalent to my spot holdings with 1x leverage. This way, if the spot price drops, I won't lose in the short position, making the gift coin essentially free. 6. I try to research airdrops with friends and exchange information. Sometimes market insiders suffer from information blindness, while the insights of less informed individuals can be accurate.
The most important principle is to act according to the uncertainty principle in the crypto and commodities universe. In an ecosystem dominated by uncertainty, we must diversify and increase probabilities. We must carry this awareness together. The reality is that no one can predict what will happen. We observe the reactions of millions of minds like candles; fluctuations sometimes cause loss, sometimes wealth. However, the goal should be to minimize risk, not to try to get rich, but to aim to make money. Statistics show that the number of people getting rich from crypto is very low, but the number of people making money is very high.