What happened in Crypto in the last 12h:
• BOJ's Uchida stated they won't raise rates if the market is unstable.
• SOL/ETH has hit an ATH. The next thing to watch for is whether SOL/BTC will also achieve an ATH.
• International Cat Day 2024, taking place annually on August 8. The market often interprets these events as a catalyst for meme coins (e.g., World Frog Day).
• The U.S. Treasury will begin buying back up to $46 billion worth of outstanding government securities by the end of October.
• #BABYDOGE - Baby Doge has announced that the Solana bridge and BabyDoge token on Solana are expected to be released on Sept 5.
• $DRIFT - Drift Protocol achieved a $1 billion daily trading volume during the recent market crash. The community will propose governance (DIP-2) regarding token utility in August.
• $ENA - Ethena Founder @leptokurtic_ has hinted at a big announcement this week (possibly involving a deployment on Solana).
• $OMNI - Omni network has hinted at the release of a new product, expected to be a game.
• $RON - Ronin Network was notified by white-hats about a potential exploit on the Ronin bridge. All user funds are safe, and the bridge will undergo an audit before reopening.
• $SPEC - Spectral has announced that it will soon release Syntax V2. The update will include upgraded incentive and utility mechanisms.
• Nasdaq and BlackRock's filing to add options on Ethereum ETFs has hit the SEC site. Final SEC decision on this from SEC likely to be around April 9th, 2025.
• According to @PeterLBrandt, The current post-halving correction resembles the 2015-2017 cycle, with previous cycles indicating a new bull cycle high may still be weeks away.
[Note to self] The current market is reacting sensitively to the release of U.S. economic data. And While various news outlets report on the possibility of an Iran-Israel war, retail sentiment seems to lean towards an "it probably won't happen" attitude. Therefore, it may be wise to avoid taking risky leveraged positions.
H/T - @ceterispar1bus