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šØ BITCOIN ACTIVITY DROPS TO LOWEST LEVEL SINCE 2010 šØ
š Bitcoin wallet activities have dropped, reaching their lowest levels since November 2010, according to onchain data from IntoTheBlock. The lack of retail participation and the rise of celebrity memecoins are diverting speculators away from established cryptocurrencies like Bitcoin.
Juan Pellicer, a senior researcher at IntoTheBlock, attributes this decline to weaker retail participation compared to past cycles. āThis yearās run to a new all-time high was driven by institutional capital instead of retail investors,ā Pellicer told Cointelegraph.
He suggests that the broader economic situation may have led to fewer retail investments in crypto this year.
š Whale Movements and Market Trends
ā The decrease in activity comes as investors prepare for increased whale movements, including the Mt. Gox trusteeās planned distributions to creditors in July. Larger holders, including some linked to governments, have also been observed selling off Bitcoin.
š® The Impact of Runes and Miners
š Despite the introduction of Runes, a fungible token protocol aimed at providing an alternative revenue stream for miners, the activity has cooled off. While Runes initially boosted trading fees for miners on the halving day, transaction fees have since returned to pre-halving levels.
Pellicer emphasizes that the lull in activity is likely temporary due to the cyclical nature of such assets.
š” The Rise of Memecoins and Celebrity Tokens
š Recent attention in the crypto space has shifted towards memecoins and celebrity tokens, which are attracting speculators seeking larger gains. Although Bitcoin is known for its volatility, its current state is relatively stable compared to the wild swings seen in lower cap memecoins.
What do you think about this situation?
Drop a comment below and stay updated with @Professor Mende - Bonuz Ecosystem Founder
#celebritytoken #celebrities #bitcoin #marketanalysis #bitcoinnews
$BTC Ā $ETH Ā $BNB
š Bitcoin wallet activities have dropped, reaching their lowest levels since November 2010, according to onchain data from IntoTheBlock. The lack of retail participation and the rise of celebrity memecoins are diverting speculators away from established cryptocurrencies like Bitcoin.
Juan Pellicer, a senior researcher at IntoTheBlock, attributes this decline to weaker retail participation compared to past cycles. āThis yearās run to a new all-time high was driven by institutional capital instead of retail investors,ā Pellicer told Cointelegraph.
He suggests that the broader economic situation may have led to fewer retail investments in crypto this year.
š Whale Movements and Market Trends
ā The decrease in activity comes as investors prepare for increased whale movements, including the Mt. Gox trusteeās planned distributions to creditors in July. Larger holders, including some linked to governments, have also been observed selling off Bitcoin.
š® The Impact of Runes and Miners
š Despite the introduction of Runes, a fungible token protocol aimed at providing an alternative revenue stream for miners, the activity has cooled off. While Runes initially boosted trading fees for miners on the halving day, transaction fees have since returned to pre-halving levels.
Pellicer emphasizes that the lull in activity is likely temporary due to the cyclical nature of such assets.
š” The Rise of Memecoins and Celebrity Tokens
š Recent attention in the crypto space has shifted towards memecoins and celebrity tokens, which are attracting speculators seeking larger gains. Although Bitcoin is known for its volatility, its current state is relatively stable compared to the wild swings seen in lower cap memecoins.
What do you think about this situation?
Drop a comment below and stay updated with @Professor Mende - Bonuz Ecosystem Founder
#celebritytoken #celebrities #bitcoin #marketanalysis #bitcoinnews
$BTC Ā $ETH Ā $BNB
Hola Amigos!!!
Happy trading so far?
Please set aside some time to read this crucial piece about celebrity coins.
$BTC D is 56.59% at the moment.
Celebrity tokens down 94%
#BinanceSquareFamily #ScamProject #celebritytoken #celebritycoins
Happy trading so far?
Please set aside some time to read this crucial piece about celebrity coins.
$BTC D is 56.59% at the moment.
Celebrity tokens down 94%
#BinanceSquareFamily #ScamProject #celebritytoken #celebritycoins
Celebrity tokens down 94% on average month
Key Reasons to Avoid Celebrity Meme Coins:
Significant Financial Losses:Celebrity tokens have plummeted by an average of 94% one month after their launch. This highlights the extreme volatility and high risk associated with these investments.Short-lived Hype:The initial surge in value often results from the celebrity's endorsement, creating a temporary hype. Once the initial excitement fades, the value of these tokens typically drops sharply.Lack of Fundamental Value:These tokens usually lack a solid foundation or intrinsic value. Their worth is primarily driven by the celebrityās fame rather than any real technological or financial backing.Potential for Manipulation:The market for celebrity tokens is susceptible to manipulation. Early investors or the celebrities themselves might benefit disproportionately, leaving later investors with significant losses.Regulatory Concerns:Celebrity tokens often operate in a regulatory grey area, leading to potential legal risks for investors. There may be inadequate disclosure and a lack of investor protection.Poor Long-term Prospects:Without a robust underlying project or utility, these tokens often fail to sustain long-term value. They are primarily driven by short-term speculation rather than enduring demand or use cases.Risk of Scams and Fraud:The celebrity token market has been associated with various scams and fraudulent schemes. The lack of regulation and transparency makes it easier for bad actors to exploit investors.
Here are a few examples:
Andrew Tate (DADDY): $66.4 million after falling 73.23%Caitlyn Jenner (JENNER(ETH)): $2 million after falling 75%Iggy Azalea (MOTHER): $69.3 million after falling 78.68%Barron Trump (DJT): $77.4 million after falling 80.2%Zack Morris (ZACK): $17.1Ā million after falling 84.17%Jason Derulo (DERULO): $5.1 million after falling 88.67%Lil Pump (LILPUMP): $1.2Ā million after falling 88.89%
Summary:
Investing in celebrity meme coins presents a high risk of financial loss due to their significant volatility, lack of intrinsic value, and potential for market manipulation. Regulatory uncertainties and poor long-term prospects further add to the risks, making them a precarious investment choice. Investors are advised to be cautious and thoroughly research any cryptocurrency before investing.
Credit Coin Volume Source: CryptoSlate $BTC $ETH $BNB
#BinanceSquareFamily #celebritytoken #celebritycoins #ScamAware #scammeralert
Significant Financial Losses:Celebrity tokens have plummeted by an average of 94% one month after their launch. This highlights the extreme volatility and high risk associated with these investments.Short-lived Hype:The initial surge in value often results from the celebrity's endorsement, creating a temporary hype. Once the initial excitement fades, the value of these tokens typically drops sharply.Lack of Fundamental Value:These tokens usually lack a solid foundation or intrinsic value. Their worth is primarily driven by the celebrityās fame rather than any real technological or financial backing.Potential for Manipulation:The market for celebrity tokens is susceptible to manipulation. Early investors or the celebrities themselves might benefit disproportionately, leaving later investors with significant losses.Regulatory Concerns:Celebrity tokens often operate in a regulatory grey area, leading to potential legal risks for investors. There may be inadequate disclosure and a lack of investor protection.Poor Long-term Prospects:Without a robust underlying project or utility, these tokens often fail to sustain long-term value. They are primarily driven by short-term speculation rather than enduring demand or use cases.Risk of Scams and Fraud:The celebrity token market has been associated with various scams and fraudulent schemes. The lack of regulation and transparency makes it easier for bad actors to exploit investors.
Here are a few examples:
Andrew Tate (DADDY): $66.4 million after falling 73.23%Caitlyn Jenner (JENNER(ETH)): $2 million after falling 75%Iggy Azalea (MOTHER): $69.3 million after falling 78.68%Barron Trump (DJT): $77.4 million after falling 80.2%Zack Morris (ZACK): $17.1Ā million after falling 84.17%Jason Derulo (DERULO): $5.1 million after falling 88.67%Lil Pump (LILPUMP): $1.2Ā million after falling 88.89%
Summary:
Investing in celebrity meme coins presents a high risk of financial loss due to their significant volatility, lack of intrinsic value, and potential for market manipulation. Regulatory uncertainties and poor long-term prospects further add to the risks, making them a precarious investment choice. Investors are advised to be cautious and thoroughly research any cryptocurrency before investing.
Credit Coin Volume Source: CryptoSlate $BTC $ETH $BNB
#BinanceSquareFamily #celebritytoken #celebritycoins #ScamAware #scammeralert