- A GMX trader earned almost $1 million in profit by shorting Ethereum (ETH) during a price peak on July 14.
- They closed the #short position after the market crash on August 17.
- The trader quickly switched to a long #position on ETH, purchasing at $1,624.
- The current profit from this long position is $189,500.
- The #trader has executed a total of 10 #trades on GMX.
- Out of these trades, 8 have been profitable, indicating an 80% success rate.
- DappRadar's recent article by @the_LeticiaMelo claimed Ordinals' trading volume fell 97% since May.
- The accuracy of this data has been challenged by @cryptoslamio, stating Ordinals' May volume was $195 million, dropping to $65 million in July (a 66% decline).
- @domodata's Ordinals Marketplaces Dune dashboard confirmed May sales at $155 million, decreasing to $50 million in July (a 68% decline).
- DappRadar omitted BRC-20, accounting for 74% of May sales per Dune data.
- Comparing ATH #hype cycle with mature ecosystems, like Ethereum NFTs, saw declines too (49% from Jan to Mar 2023, 77% from Apr to Jun 2023).
- Ordinals spurred hype but experienced a typical NFT market decline, without changing belief in NFT tech or sector's future.
- South Korea's Supreme Prosecutors' Office has dedicated KRW 986 million (approx. $730,000) in 2023 for investigating cryptocurrency-related crimes.
- KRW 778 million (approx. $580,000) was spent on purchasing software licenses for virtual asset tracking and analysis tools.
- KRW 208 million (about $150,000) has been assigned to an Integrated Strategic Plan (ISP) aimed at establishing a platform to analyze and trace illegal virtual asset transactions.
- The platform's budget is in the preliminary review stage, with expectations of increased funding during the full construction phase.
