🐂 GCR said today that we are still in a bull market. GCR is the person who: 😏Bearish market and short altcoins at the market top in November 2021. 😏Bet against Do Kwon and shorted #LUNA. 😏Remind people to withdraw funds when #FTX crashed. $BTC $ETH $BNB
Hello guys, just a small update on the market. Macro trend remains positive for now as long as we are above 65k. Most of the money is flowing into meme coins for now but we hope it starts flowing into fundamentally strong coins soon. We still have some nice setups forming on a lot of coins. It would be best to keep on accumulating strong coins such as $FET $INJ $RNDR
Since then , as mentioned earlier, the resistance at $6.825 got tested but the price was unable to break out of it and is retracing. Could range here .. there's no further setup until that resistance breaks .
You must be wondering why established and amazing ALTs are not rising whereas the memes are pumping non-stop.
This is because the newbie retail wants quick profits without any effort to do some research. So most of the liquidity is flowing into these memecoins.
My advice would be to stay steadfast, hold the line and keep conviction for you favorite ALTs because the liquidity will definitely flow back into the established projects.
My top picks for the upcoming ALT season are : $FET $RNDR $INJ
This is how manipulators control the market in the short term especially during non-working hours and weekends
In the picture below, you'll see that most US investors rushed to buy at the start of wall street working hours at around 9:30 AM EST time then this momentum cooled off over time. Only 10 minutes before the end of the working day at around 4:20 PM, this big selling order was setup to terrify day traders and knock them out leading to more price decline in the following hours up until now.
If you notice, even ETF issuers like blackrock has the right to borrow BTC or cash from coinbase exchange and sell/buy to manipulate the markets in the short term. These ETF issuers can provide competitive prices per share so they can draw more investors in if they can buy/sell at better prices than retail investors working with plain DCA
In an hour, whoever sold at 70k, will be able to buy today with more than a $1500 discount.
So, it's expected for prices to go back above 70k today
FET, AGIX, OCEAN Are Merging: What You Need to Know About ASI Token and Merger History
Possible Scenarios and FDV Calculation
With the merger, there will now be a single project in the market instead of these three projects. There are several different ideas on this subject. I will make a calculation with the resulting FDV (Fully Diluted Value) value.
As of May 25, when the article was written, Fetch.ai (FET) FDV is 2.72 Billion USD. SingularityNet (AGIX) FDV is 1.95 Billion USD. Ocean Protocol (OCEAN) has an FDV of 1.38 Billion USD. Total FDV is approximately 6.05 Billion USD.
We can calculate 6.05 Billion USD / 2.62 Billion ASI tokens = 2.0719 USD ASI token price. It should not be forgotten that a calculation is made here based on FDV values. How much of the token will be in circulation, its market value and, accordingly, its price may vary. With this calculation, ASI Token will rank 21st in the market cap ranking between Litecoin (LTC) and Internet Computer (ICP).
AGIX:
Let's say we buy AGIX worth 100 USD. The number of AGIX we will obtain at the current price is 95.42 AGIX.
The number of ASI Tokens we will obtain for 95.42 AGIX is 41.35 (95.42*0.433350)
OCEAN:
Let's say we buy 100 USD worth of OCEAN. The number of OCEANs we will obtain at the current price is 94.9 OCEANs.
The number of ASI Tokens we will obtain for 94.9 OCEAN is 41.14 (94.967*0.433226)
When you purchase 100 USD worth of FET token, which will be converted 1 to 1, the amount of ASI you will receive is 39.8 units.
Among the three current options, the one where you can make the most profit at current prices is to buy AGIX. For every 100 USD worth of AGIX, you will make 1.5 ASI Tokens (41.35-39,841) more than owning the same amount of FET.
Important information for $FET $AGIX $OCEAN holders.
LIVE
TheHunn
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$FET , $AGIX , $OCEAN Merging: What You Need to Know About ASI Token and Merger Date What is ASI Token? FET will be positioned as the reserve token of the alliance. However, it will later transform into the Artificial SuperIntelligence #ASI Token. The conversion rate is 1:1. For every 1 FET you hold, you will receive 1 ASI Token. This renaming will bring about many changes in various aspects, which we will discuss in more detail later in the article. I Have FET Tokens. What Should I Do? If you hold FET tokens on a centralized or decentralized exchange, they will automatically become ASI tokens. You don't need to do anything. If you hold them offline in a cold wallet, it has been said that a swapping mechanism will be created for conversion after some time. You will be able to perform the conversion via a potential website. I Have OCEAN or AGIX Tokens. What Should I Do? Similarly, holders of OCEAN and AGIX tokens do not need to do anything. These tokens will also be converted into ASI Tokens. If you hold them offline outside of an exchange, a mechanism will be devised for this conversion. You will be able to perform the conversion from there. You can perform this conversion whenever you want after the platform is launched. The important point here is the conversion rates. FET tokens will convert at a 1:1 ratio. For every 1 FET you have, you will receive 1 ASI token. However, the conversion rate is different for OCEAN and AGIX. For every 1 OCEAN you have, you will receive 0.433226 ASI, and for every 1 AGIX, you will receive 0.433350 ASI token. These conversion rates will be fixed, and you will be able to perform the conversion whenever you want. An ex-employee of Ocean Protocol has prepared a website on this matter. By entering how many tokens you have there, you can see the conversion amounts and the amount of tokens you will receive.
• #GCRClassic account has been hacked. GCR hacker said, I like $ORDI.
• The US Treasury's buyback program for the May to July quarter is scheduled to start on May 29, buying $2 billion a week.
• $BB - Bouncebit has announced a partnership with Ethena. Further details will be released this week.
• $ENA - Ethena will new DeFi integrations and reveal new CEX partnerships for USDe this week.
• $ETHFI - Etherfi has announced a "Staking Frens" campaign, offering mystery tokens for staking ETH from May 27 to May 31.
• $FRIEND - According to Racer (Founder), Friendtech is considering moving off Base chain.
• $LAI - LayerAI has announced that Stage 2 of its 1000X Campaign will begin this week, with NVIDIA GPU rewards and a new mass retail product reveal.
• $LINK - Chainlink and Swift will discuss tokenization on May 30. Rumors suggest Chainlink will make a big announcement.
• $UNI - Uniswap Foundation plans an onchain vote to enable the fee-sharing mechanism starting on May 31.
• Donald Trump said, “I am very positive and open minded to crypto companies, and all things related to this new and burgeoning industry.” $TRUMP $MAGA
WOO Innovation Hub Announces Partnership With GMCI
According to Odaily, WOO Innovation Hub has recently announced the addition of GMCI to its growing list of partners. The hub is dedicated to supporting high-quality protocols in the main crypto growth areas, strategically increasing market share in the crypto bull market. Ben Yorke, Vice President of WOO Ecosystem, stated that the partnership with GMCI will support traders and projects in RWA, DeFi, AI, Bitcoin L2 solutions, and DePIN track throughout the second quarter. The collaboration aims to enhance the strategic growth and development of the crypto market.