Admiano
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Between Friday July 28, a total of 7 futures ETH ETFs have been filled, waiting for the SEC's approval.
And guess what? According to a Publication by Block works, "the SEC has indicated its readiness to publicly consider such a product."
What can this mean for ETH price?
When BlackRock filled for spot Bitcoin ETF, BTC price moved up 20% to a local high of $32,000. Will we see similar price action when ETH futures ETFs gets approved?
It's interesting to see what will happen, as they are all expected to be approved around October 16 this year.
It's looking like ETH will outperform BTC from here. What do you think?
Here are the firms that applied for ETH futures ETF:
Volatility Shares
Bitwise
Roundhill
VanEck
Proshares x 2
Grayscale
Imagine when institutions like Microstrategy starts buying ETH. The smell!
#Admiano
And guess what? According to a Publication by Block works, "the SEC has indicated its readiness to publicly consider such a product."
What can this mean for ETH price?
When BlackRock filled for spot Bitcoin ETF, BTC price moved up 20% to a local high of $32,000. Will we see similar price action when ETH futures ETFs gets approved?
It's interesting to see what will happen, as they are all expected to be approved around October 16 this year.
It's looking like ETH will outperform BTC from here. What do you think?
Here are the firms that applied for ETH futures ETF:
Volatility Shares
Bitwise
Roundhill
VanEck
Proshares x 2
Grayscale
Imagine when institutions like Microstrategy starts buying ETH. The smell!
#Admiano
I consider myself a very fortunate man. I made a killing with FTM, and that money changed my life. But things weren't always rosy for me.
My business crashed when COVID hit. I had all orders canceled, and my business stopped completely. I wasn't sure what to do anymore. I was living on my savings. Three months later, I was almost out.
Then I saw a WhatsApp status for a crypto training. I paid for the class, and I was ready to trade. I had no money, so I borrowed $2,000 from my uncle.
After three trades, I had $400 left. I wasn't sure what to do anymore. If I lost it all, I'd be in hot soup.
I saw a post on Twitter about FTM getting set for a pump. I took a risk and invested the $400. Six months later, I had over $90,000. I sold and paid back my debts.
I guess I was fortunate.
As told by Bin Hammad, from Dubai.
#Admiano
My business crashed when COVID hit. I had all orders canceled, and my business stopped completely. I wasn't sure what to do anymore. I was living on my savings. Three months later, I was almost out.
Then I saw a WhatsApp status for a crypto training. I paid for the class, and I was ready to trade. I had no money, so I borrowed $2,000 from my uncle.
After three trades, I had $400 left. I wasn't sure what to do anymore. If I lost it all, I'd be in hot soup.
I saw a post on Twitter about FTM getting set for a pump. I took a risk and invested the $400. Six months later, I had over $90,000. I sold and paid back my debts.
I guess I was fortunate.
As told by Bin Hammad, from Dubai.
#Admiano
If you scroll through your Twitter (X) feed, you'll see many comments such as "you're an OG if you survive." Or other comments like "Builders build in the bear market."The simple truth of the matter is that most of the people who write posts like those do not really believe what they are sharing.In fact, some of them do it just for the engagement, and they looking good in the eyes of others. Consider the case of DavisDavis has a main Twitter account, but he also has a number of other Twitter accounts which he uses to farm engagement. But how is he really doing?"I don't really believe any of these things I post. I am just here for the money," Davis said.Don't get me wrong, it's fine to share motivational updates. But when you read them, don't draw conclusions that the people sharing such have confidence in what they say.Whatever the case, keep improving your skills.If you find this post informative, kindly like and share. Follow me as well.
#Admiano
#Admiano
Has this ever happened to you before when you try to place an order on an exchange, but the app looks like it's freezing, and order won't go through, only to find out later that the order actually went through?
This is what happened to Labi earlier in July while trying to short XRP.
Looking at BTC chart, Labi saw that Bitcoin would drop to the lower 20k region. Rather than short BTC, he felt an XRP swing short would be more profitable.
He tried to open a 20x short, but the app was freezing. He tried to do it three times but it wasn't working. Only for hon to see minutes later that all three orders was submitted.
XRP was down 1% the next day, and he was 20% up on all orders. He didn't close the orders. Instead, he just left them open as his "big short."
The next day on the 13th, XRP price moves up almost 100%. The move was fast and wild following news that XRP was declared to not be a security. Unfortunately, Labi had no chance to close his orders.
Within minutes, his entire networth was gone, liquidated. What can we learn?
🔸If due to a glitch, an exchange app accepts more than the number of orders you want to place, close the other ones
🔸 Never forget risk management. No matter how good your bias mag be, that doesn't mean that it will work out as you planned
Little mistakes can get anyone liquidated. Be careful out there!
#crypto2023 #Admiano
This is what happened to Labi earlier in July while trying to short XRP.
Looking at BTC chart, Labi saw that Bitcoin would drop to the lower 20k region. Rather than short BTC, he felt an XRP swing short would be more profitable.
He tried to open a 20x short, but the app was freezing. He tried to do it three times but it wasn't working. Only for hon to see minutes later that all three orders was submitted.
XRP was down 1% the next day, and he was 20% up on all orders. He didn't close the orders. Instead, he just left them open as his "big short."
The next day on the 13th, XRP price moves up almost 100%. The move was fast and wild following news that XRP was declared to not be a security. Unfortunately, Labi had no chance to close his orders.
Within minutes, his entire networth was gone, liquidated. What can we learn?
🔸If due to a glitch, an exchange app accepts more than the number of orders you want to place, close the other ones
🔸 Never forget risk management. No matter how good your bias mag be, that doesn't mean that it will work out as you planned
Little mistakes can get anyone liquidated. Be careful out there!
#crypto2023 #Admiano
Many times, some of the Twitter accounts with smaller followers give better and more accurate crypto analysis than the bigger accounts.
I've heard of people's experiences where a call from a small account turned out well for them. One such experience is that of Awawa.
Awawa subscribed to the paid group of a Twitter influencer who has over 300k followers. Three months went by, and he was down 30% in his portfolio.
One day, Twitter (X) suggested a tweet of a SOL long chart from an account with 734 followers. Awawa looked at the chart, and the analysis was good. He took the trade and made a 33% profit.
Within six months of copying this trader, Awawa turned $900 into $22,000!
The lessons?
🔸Some small accounts have better alpha than bigger accounts
🔸Paid groups are no guarantees for profit
🔸Vet ever call
#Admiano
I've heard of people's experiences where a call from a small account turned out well for them. One such experience is that of Awawa.
Awawa subscribed to the paid group of a Twitter influencer who has over 300k followers. Three months went by, and he was down 30% in his portfolio.
One day, Twitter (X) suggested a tweet of a SOL long chart from an account with 734 followers. Awawa looked at the chart, and the analysis was good. He took the trade and made a 33% profit.
Within six months of copying this trader, Awawa turned $900 into $22,000!
The lessons?
🔸Some small accounts have better alpha than bigger accounts
🔸Paid groups are no guarantees for profit
🔸Vet ever call
#Admiano
Between December 2021 and June 2023, Liam lost 90% of his portfolio by selling all he had and going all in on BSV.
He soon learned a lesson: not to go against the trend and also not to chase after wild goose.
Liam saw tweets from Craig Wright where he claimed he was the founder of Bitcoin and that BSV is the real Bitcoin. Liam liked what he read and went on to spend two weeks doing deep research.
At the end of the two weeks, he was convinced BSV was the real Bitcoin. He believed BTC would collapse before the end of 2022 and BSV would take over, just as Craig predicted.
He sold everything he had and bought $BSV at around $375 each. BSV is now $35, with no hope of ever replacing Bitcoin.
Liam is hoping BSV goes up a bit so he can sell and move on.
💡Never invest based on other people's opinions.
#Admiano
He soon learned a lesson: not to go against the trend and also not to chase after wild goose.
Liam saw tweets from Craig Wright where he claimed he was the founder of Bitcoin and that BSV is the real Bitcoin. Liam liked what he read and went on to spend two weeks doing deep research.
At the end of the two weeks, he was convinced BSV was the real Bitcoin. He believed BTC would collapse before the end of 2022 and BSV would take over, just as Craig predicted.
He sold everything he had and bought $BSV at around $375 each. BSV is now $35, with no hope of ever replacing Bitcoin.
Liam is hoping BSV goes up a bit so he can sell and move on.
💡Never invest based on other people's opinions.
#Admiano
PEPE: Bullish Or Bearish? Technical And Fundamental Analysis
Just three months ago, $PEPE was the rave of the moment, the "$SHIB and $DOGE killer" that was going to make people millions. Fast forward to late August, and its been a different story, with the meme coin down 5% since all time highs.
At around $260 million in market cap, is it time to buy #pepe or is this the end for PEPE as we know it? Let's do some analysis.
Problems within PEPE dev team
On August 26, 2023, the PEPE team announced that some of the team members had gone rogue. They also confirmed the selling of 16 trillion PEPE worth $15 million. This move caused division in opinion within the community with some lashing out on the devs, while some others feel PEPE is better off without the devs.
Since this incidence, the price of PEPE has been down 31.8%.
PEPE Telegram hack?
If you thought things were going to get better, you would have been disappointed when the PEPE team tweeted on September 9 that their Telegram account has been hacked.
As expected, this led to more panic within the PEPE community and entire crypto at large.
What Is The Future of PEPE?
I think PEPE forms a rounded bottom before any bullishness
This is the PEPE chart on the daily timeframe. It looks really ugly with no sign of going back up. Just sells and no one buying.
I am expecting at least a 30% drop in the price of PEPE in the coming weeks and months. If that happens, PEPE will form a rounded bottom before we can see any bullishness.
Sentiment wise, no one is bullish on meme coins at the moment, with inflation back on the rise, and the underlying issues surrounding PEPE and its community.
I think PEPE will have its place among the top meme coins in the future. But short term, things doesn't look good. Don't forget to #dyor though ✌️
What do you think? Are you bullish or bearish? Talk to me, I'll love to know why.
If you like this analysis, share with others and do well to follow me!
#Admiano
At around $260 million in market cap, is it time to buy #pepe or is this the end for PEPE as we know it? Let's do some analysis.
Problems within PEPE dev team
On August 26, 2023, the PEPE team announced that some of the team members had gone rogue. They also confirmed the selling of 16 trillion PEPE worth $15 million. This move caused division in opinion within the community with some lashing out on the devs, while some others feel PEPE is better off without the devs.
Since this incidence, the price of PEPE has been down 31.8%.
PEPE Telegram hack?
If you thought things were going to get better, you would have been disappointed when the PEPE team tweeted on September 9 that their Telegram account has been hacked.
As expected, this led to more panic within the PEPE community and entire crypto at large.
What Is The Future of PEPE?
I think PEPE forms a rounded bottom before any bullishness
This is the PEPE chart on the daily timeframe. It looks really ugly with no sign of going back up. Just sells and no one buying.
I am expecting at least a 30% drop in the price of PEPE in the coming weeks and months. If that happens, PEPE will form a rounded bottom before we can see any bullishness.
Sentiment wise, no one is bullish on meme coins at the moment, with inflation back on the rise, and the underlying issues surrounding PEPE and its community.
I think PEPE will have its place among the top meme coins in the future. But short term, things doesn't look good. Don't forget to #dyor though ✌️
What do you think? Are you bullish or bearish? Talk to me, I'll love to know why.
If you like this analysis, share with others and do well to follow me!
#Admiano
US CFTC Orders MTI To Pay Customers $1.7 Trillion Plus Another $1.7 Trillion Fine!
Founded in 2018 by Cornelius Johannes Steynberg, Mirror Trading International (MTI) was a South African cryptocurrency investment platform that was going to turn many into millionaires.
How was this going to happen? The South African company launched a "trading bot" that will help people trade their #bitcoin
At the end of each month, each user will get a guaranteed 10% interest on their investment. It sounded great to many, and they had a lot of investors. Just two years later, over 23,000 people have signed up and made deposits on the platform. Total deposits amounted to 29,421 $BTC
The Problems With Mirror Trading International (MTI)
The platform was being advertised as the next big thing. The founder was living a very expensive lifestyle; traveling from place to place and buying every new thing he wanted.
Many wanted to live the dream, and continued investing. But there was a major problem.
Apparently, there was no trading bot. The founder simply collected new money and paid old customers plus 10%. Yup, a classic Ponzi scheme.
He ran this model for a while until it was no longer sustainable. By December of 2020, the Ponzi collapsed, and Steynberg fled
Hope For Investors
Unlike some of the other big scams, like One Coin, investors have hope of getting their money back. After three years of investigation, the US CFTC came to the conclusion that there was no trading bots being used.
They also found out that only a small portion of these funds were ever invested in Bitcoin. The rest of the money was used to pay returns to earlier investors, as well as to fund Steynberg's lavish lifestyle.
In September 2023, a US court ordered MTI to pay $1.7 billion in restitution to its victims. The court also ordered Steynberg to pay $1.7 billion in restitution and a civil monetary penalty of the same amount.
The Lessons For Us
This is another example in how Ponzi schemes usually end up. Ponzi schemes are fraudulent investment schemes that pay returns to investors from their own money or the money paid by subsequent investors, rather than from profits earned through legitimate investment activity. Ponzi schemes are often disguised as legitimate investment opportunities and can be very difficult to detect.
What can we learn?
If you are not sure where the yield is coming from, you are the yield
Stay away from teams and projects that make promises of riches when you invest in their projects
If you notice any red flags, don't ignore them, no matter how small your investment is.
I shared tis so you and others around you can learn about what happened, and also avoid it. So, do well to share it with friends.
If you haven't, do well to follow me. #Admiano
How was this going to happen? The South African company launched a "trading bot" that will help people trade their #bitcoin
At the end of each month, each user will get a guaranteed 10% interest on their investment. It sounded great to many, and they had a lot of investors. Just two years later, over 23,000 people have signed up and made deposits on the platform. Total deposits amounted to 29,421 $BTC
The Problems With Mirror Trading International (MTI)
The platform was being advertised as the next big thing. The founder was living a very expensive lifestyle; traveling from place to place and buying every new thing he wanted.
Many wanted to live the dream, and continued investing. But there was a major problem.
Apparently, there was no trading bot. The founder simply collected new money and paid old customers plus 10%. Yup, a classic Ponzi scheme.
He ran this model for a while until it was no longer sustainable. By December of 2020, the Ponzi collapsed, and Steynberg fled
Hope For Investors
Unlike some of the other big scams, like One Coin, investors have hope of getting their money back. After three years of investigation, the US CFTC came to the conclusion that there was no trading bots being used.
They also found out that only a small portion of these funds were ever invested in Bitcoin. The rest of the money was used to pay returns to earlier investors, as well as to fund Steynberg's lavish lifestyle.
In September 2023, a US court ordered MTI to pay $1.7 billion in restitution to its victims. The court also ordered Steynberg to pay $1.7 billion in restitution and a civil monetary penalty of the same amount.
The Lessons For Us
This is another example in how Ponzi schemes usually end up. Ponzi schemes are fraudulent investment schemes that pay returns to investors from their own money or the money paid by subsequent investors, rather than from profits earned through legitimate investment activity. Ponzi schemes are often disguised as legitimate investment opportunities and can be very difficult to detect.
What can we learn?
If you are not sure where the yield is coming from, you are the yield
Stay away from teams and projects that make promises of riches when you invest in their projects
If you notice any red flags, don't ignore them, no matter how small your investment is.
I shared tis so you and others around you can learn about what happened, and also avoid it. So, do well to share it with friends.
If you haven't, do well to follow me. #Admiano
Two years ago, Sahin bought a number of NFTs with the hope that the prices would rise. The NFTs were advertised as the "next BAYC."
A total of $16,300 was invested in buying five of these NFTs at the time. Fast forward to June last month, and those NFTs are now worth $100 each.
Let's hear from Sahin...
Unsure what to do, I discussed it with my wife. She came up with the idea for us to sell all the NFTs. I knew the idea was bad, but I said "ok" to it.
She launched a "Women In NFTs" campaign at her workplace. She taught them the basics of NFTs: how to mint, buy, and sell.
Then she told them to buy the next "big thing in NFTs" for "cheap" at $4,000 each. She sold my NFTs to them without them knowing what happened.
We made the money back, but I have a guilty conscience. I think about it every day.
#Admiano
A total of $16,300 was invested in buying five of these NFTs at the time. Fast forward to June last month, and those NFTs are now worth $100 each.
Let's hear from Sahin...
Unsure what to do, I discussed it with my wife. She came up with the idea for us to sell all the NFTs. I knew the idea was bad, but I said "ok" to it.
She launched a "Women In NFTs" campaign at her workplace. She taught them the basics of NFTs: how to mint, buy, and sell.
Then she told them to buy the next "big thing in NFTs" for "cheap" at $4,000 each. She sold my NFTs to them without them knowing what happened.
We made the money back, but I have a guilty conscience. I think about it every day.
#Admiano
By the end of 2021, Tabi had 10 ETH in his wallets. Fast forward to August 2023, and he has less than 1 ETH remaining. How did that happen?
Tabi got into crypto in 2020. He started with $600. At some point in April 2021, his portfolio had an all-time high of over $16,000. Even when BTC topped in May of that year, he kept on trading, ignoring all the warnings:
- There was a clear shift in market structure
- The FED was hiking rates, which was bad for risk-on assets like crypto
- The stock market was experiencing huge sell off
Tabi believed that all of those didn't matter. He kept telling his friends that the gains from stocks would flow into crypto.
Well, it's been a long bear market, and Tabi has managed to retain 0.87 ETH in his wallet
Tabi's story is a warning example of what happens when we ignore the facts.
#Admiano
Tabi got into crypto in 2020. He started with $600. At some point in April 2021, his portfolio had an all-time high of over $16,000. Even when BTC topped in May of that year, he kept on trading, ignoring all the warnings:
- There was a clear shift in market structure
- The FED was hiking rates, which was bad for risk-on assets like crypto
- The stock market was experiencing huge sell off
Tabi believed that all of those didn't matter. He kept telling his friends that the gains from stocks would flow into crypto.
Well, it's been a long bear market, and Tabi has managed to retain 0.87 ETH in his wallet
Tabi's story is a warning example of what happens when we ignore the facts.
#Admiano
Can ICP Get Back To All-Time Highs?
ICP was one of the most promising crypto projects, with a vibrant community. Currently trading at $4.009 per coin, getting to all-time high of $2,826 will be 709x the current price. Can this ever happen?
In this episode of #CryptoForensics I'll cover:
What happened to ICP before and after launch?
How the ICP and Dfinity teams sold billions of dollars in tokens
Details about the $ICP tokenomics
The possible future of ICP
Let's dive in!
The Promise Of A New "Internet"
After waiting for over 4 years, Internet Computer launched its $ICP token. The price went to an all-time high of $2,826 that day, before dropping to a low of $375. Ever since then, the ICP price has been on a downward spiral, reaching an all-time low of $3.4 in December 2022.
The idea of ICP was to have an 'internet computer" that would replace not just Web2, but also Bitcoin and Ethereum. They called themselves the "NASA for decentralization," powered by the ICP token.
Two years after the token launch, the technology is still in the development phase. And you can tell how disinterested people are in ICP with the TVL it has at just $2.63 million, according to data from DeFi Llama.
$2.6 million in TVL
Predatory Tokenomics And Team Dumping Billions Of Dollars
Below are the details of the ICP tokenomics according to data from Messari.
ICP tokenomics
In a seed round in 2017, the team raised $3.9 million from 370 investors. All of their 115,986,694 tokens were released monthly from the day the token launched. They paid $0.03 per ICP in the round, and these people made between 12,000 and 50,000x on their investment after four years!
For context, a person who invested $10,000 would have made $120,000!
Arkham, which launched its $ARKM token on Binance, revealed in a report that the ICP team dumped billions of dollars on the market after launch.
“Our analysis has led us to believe that possible insiders connected to Dfinity have been dumping billions of dollars of ICP on exchanges at the expense of small early supporters and retail investors.” - Arkham
When the ICP team was asked about the investors' tokens being unlocked, they confirmed it in a tweet (Xeet), as you can see in the image below.
Following Arkham's report that the Dfinity team was selling $ICP tokens, Dominic Williams, the founder of Dfinity, confirmed in a tweet that 23.8% of the tokens were not locked, as seen in the image below.
Arkham's report revealed that they transferred 18 million ICP tokens worth $3.6 billion to exchanges from its treasury in May and June of 2021. This was aside from the team tokens, which comprised 18% of the total supply worth $31 billion at TGE, reserved for only 200 people.
What did the community get? 0.8% of the supply is to be shared by several thousand. And if you ever wondered why almost no one is building on ICP, that is because only a meager 0.48% of the token supply is reserved as incentives for developers. This is less than $10 million at the current price, while the team sold billions.
What Does The Future Hold For ICP?
This is crypto, after all, so it's hard to be accurate. We often forget things very quickly. But we won't forget what ICP (Dfinity) and its team did. For the following reasons, I am of the opinion that ICP will slowly fade away, just like Elastos ad projects with similar business models faded away.
The idea of having everyone in the world using their "internet" is unrealistic
The team selling billions of dollars of tokens is a lack of confidence in what they are building
With no incentives for developers, no one will build on the chain
The world is a better place without ICP and its drama
ICP price may yet go up when the next bull run starts. Before you invest more than you can afford to lose, remember that the team still has tokens to sell, and some investors still hold tokens that are still up 130x, even though the ICP price has dropped 99.8 percent!
If you love analysis like this one, do well to share your thoughts below. Like, share with others, and do well to follow me #Admiano
This article is for educational and entertainment purposes only, not financial advice.
In this episode of #CryptoForensics I'll cover:
What happened to ICP before and after launch?
How the ICP and Dfinity teams sold billions of dollars in tokens
Details about the $ICP tokenomics
The possible future of ICP
Let's dive in!
The Promise Of A New "Internet"
After waiting for over 4 years, Internet Computer launched its $ICP token. The price went to an all-time high of $2,826 that day, before dropping to a low of $375. Ever since then, the ICP price has been on a downward spiral, reaching an all-time low of $3.4 in December 2022.
The idea of ICP was to have an 'internet computer" that would replace not just Web2, but also Bitcoin and Ethereum. They called themselves the "NASA for decentralization," powered by the ICP token.
Two years after the token launch, the technology is still in the development phase. And you can tell how disinterested people are in ICP with the TVL it has at just $2.63 million, according to data from DeFi Llama.
$2.6 million in TVL
Predatory Tokenomics And Team Dumping Billions Of Dollars
Below are the details of the ICP tokenomics according to data from Messari.
ICP tokenomics
In a seed round in 2017, the team raised $3.9 million from 370 investors. All of their 115,986,694 tokens were released monthly from the day the token launched. They paid $0.03 per ICP in the round, and these people made between 12,000 and 50,000x on their investment after four years!
For context, a person who invested $10,000 would have made $120,000!
Arkham, which launched its $ARKM token on Binance, revealed in a report that the ICP team dumped billions of dollars on the market after launch.
“Our analysis has led us to believe that possible insiders connected to Dfinity have been dumping billions of dollars of ICP on exchanges at the expense of small early supporters and retail investors.” - Arkham
When the ICP team was asked about the investors' tokens being unlocked, they confirmed it in a tweet (Xeet), as you can see in the image below.
Following Arkham's report that the Dfinity team was selling $ICP tokens, Dominic Williams, the founder of Dfinity, confirmed in a tweet that 23.8% of the tokens were not locked, as seen in the image below.
Arkham's report revealed that they transferred 18 million ICP tokens worth $3.6 billion to exchanges from its treasury in May and June of 2021. This was aside from the team tokens, which comprised 18% of the total supply worth $31 billion at TGE, reserved for only 200 people.
What did the community get? 0.8% of the supply is to be shared by several thousand. And if you ever wondered why almost no one is building on ICP, that is because only a meager 0.48% of the token supply is reserved as incentives for developers. This is less than $10 million at the current price, while the team sold billions.
What Does The Future Hold For ICP?
This is crypto, after all, so it's hard to be accurate. We often forget things very quickly. But we won't forget what ICP (Dfinity) and its team did. For the following reasons, I am of the opinion that ICP will slowly fade away, just like Elastos ad projects with similar business models faded away.
The idea of having everyone in the world using their "internet" is unrealistic
The team selling billions of dollars of tokens is a lack of confidence in what they are building
With no incentives for developers, no one will build on the chain
The world is a better place without ICP and its drama
ICP price may yet go up when the next bull run starts. Before you invest more than you can afford to lose, remember that the team still has tokens to sell, and some investors still hold tokens that are still up 130x, even though the ICP price has dropped 99.8 percent!
If you love analysis like this one, do well to share your thoughts below. Like, share with others, and do well to follow me #Admiano
This article is for educational and entertainment purposes only, not financial advice.
My friends call me "Chad" because of how successful I have become. I don't trade much, but when I do, I always win.
I am Arjun from India, and this is my story. I hope you find my strategy helpful.
I got into crypto in 2020, and I learned three lessons:
🔸Always buy when it's low, and sell high
🔸Invest and be patient
🔸Never paper hand good stuff
I bought Doge when no one was talking about it, and sold when Wallstreet Bet community fueled the run. I didn't trade again after that, and I was waiting for the perfect opportunity.
I only buy after there's chaos or a major sell off in the market.
I bought the Luna/UST crash, and sold after. When FTX crashed, I bought SOL and sold after 3x.
I wait for these opportunities. When they come, I go in big. That's how I win, and that's why my friends call me "Chad."
#Admiano
I am Arjun from India, and this is my story. I hope you find my strategy helpful.
I got into crypto in 2020, and I learned three lessons:
🔸Always buy when it's low, and sell high
🔸Invest and be patient
🔸Never paper hand good stuff
I bought Doge when no one was talking about it, and sold when Wallstreet Bet community fueled the run. I didn't trade again after that, and I was waiting for the perfect opportunity.
I only buy after there's chaos or a major sell off in the market.
I bought the Luna/UST crash, and sold after. When FTX crashed, I bought SOL and sold after 3x.
I wait for these opportunities. When they come, I go in big. That's how I win, and that's why my friends call me "Chad."
#Admiano
Remember that guy that made over $500,000 with $500 from $BALD? Newsflash: $BALD rugged!
And you know the worse part of it? He didn't sell any of the tokens. He literally saw his investment of $500 go up to over $800,000 and then back down to $200!
He didn't sell because he was waiting for the value of his BALD tokens to get to $1,000,000 before selling.
Ha! What do you call this? Greed? Stupidity? Ignorance? I don't have the right words for it, maybe you do.
This is a meme coin after all, and on a new chain. He's supposed to know better right?
I hope be doesn't go bald because of this. Lol.
If you want to find out what BALD is and how it rugged, read this article 👇
#Admiano
And you know the worse part of it? He didn't sell any of the tokens. He literally saw his investment of $500 go up to over $800,000 and then back down to $200!
He didn't sell because he was waiting for the value of his BALD tokens to get to $1,000,000 before selling.
Ha! What do you call this? Greed? Stupidity? Ignorance? I don't have the right words for it, maybe you do.
This is a meme coin after all, and on a new chain. He's supposed to know better right?
I hope be doesn't go bald because of this. Lol.
If you want to find out what BALD is and how it rugged, read this article 👇
#Admiano
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From $83m Market Cap To $17k: The First Major Rug On Base Chain That Got Holders... $BALD
"I bought my $BALD for $5,000 two days back & now its worth $250,000. I am at a loss for words right now."
"Bought 2% under 50k mcap. This is going to be a make it play. I’m Not touching the bags until 100M mcap."
These are just some of the comments showing the excitement of early buyers of $BALD just hours after the token launched. It was going to be the biggest token on Base Chain, and bigger than PEPE. Or was it? 👀
BALD deployer pulled liquidity of over 7,000 ETH ($13m) and the token price came crashing down, dashing the hopes of many along with it
Let's see what happened and what we can learn from this.
BALD Brings Gains
BALD was launched on July 30, 2023, on the new Base Chain from Coinbase. It had only a Twitter account. No website or other social accounts. As the price of the token went up, more and more people wanted to buy it.
I actually didn't know of BALD until when I saw a tweet of a guy by the name cheatcoiner who turned $500 to over $500,000. It was actually over $800,000 at its peak. He said he wouldn't sell until BALD got to $100 million market cap, 1,000x for him.
As I was scrolling through the BALD cashtag search results on Twitter, I saw tweets of several others who claimed to have made gains with BALD. For a moment, I wondered where I was when BALD was less than $50k market cap. Lol
The Cracks On The BALD Head Or Wall?
A few threadors started making threads of how BALD is linked to the owners of Coinbase, as the BALD deployer was adding liquidity with cbETH. In truth, none of those claims were verifiable.
But the fact that the deployer should get more people worried. Rather than worry, degens saw it as a positive sign and people aped more. They never learn, do they?
Fears of a rugpul started creeping in when some users couldn't swap on LetsSwap, the #1 Dex on Base. The LetsSwap put out a tweet to address this concern, adding that "no one is rugging" 👀
Few hours later, the BALD Twitter account tweeted "steady lads." Sounds familiar? 😂
The Collapse... The Head Goes BALD!
News broke out that the BALD deployer added more liquidity shortly after the "steady lads" tweet. This made some degens to impulsively buy more BALD.
Then what was expected happened. BALD deployer pulled 7,000 ETH liquidity, causing the price of BALDt o fall by more than 90%.
While many were wondering what had just happened, the BALD Twitter account tweetd "still here 👀". Whoever was behind the account tried to justify his actions by making the tweet in the screenshot below.
Was his action justifiable? Was he actually innocent, as he tried to claim? While he didn't sell any tokens. In truth, what he did was no different. Pulling liquidity effectively meant telling the contract to sell BALD tokens for ETH.
So, he actually got way more ETH than he added as liquidity. If that is not a rugpull, what is it?
The Lessons
Unfortunately, this won't be the last token to rug on Base Chain or even any other chain. What happened to BALD is beautifully summarized in a tweet by CoinMamba.
Let's see the lessons that we can learn:
Don't buy because others are buying. DYOR and be sure of what you are doing
Do not be hasty to buy shiny new tokens, you can get rekt
If you make huge profits, secure them. The market is not owned by you!
As for the cheatcoiner guy, I hope he's okay. He didn't sell any of the tokens. I wonder how he must be feeling to see over $800k in his account, and then back to zero.
The guy is adamant, though, and believes this isn't the end for BALD. Sighs
If you enjoyed this report, do give it a like and share it with others around you. Here at #Admiano I share crypto lessons in the form of stories, along with other analysis and market insights. You would do well to check them out.
And while you're there, do well to follow me. Catch you later!
"Bought 2% under 50k mcap. This is going to be a make it play. I’m Not touching the bags until 100M mcap."
These are just some of the comments showing the excitement of early buyers of $BALD just hours after the token launched. It was going to be the biggest token on Base Chain, and bigger than PEPE. Or was it? 👀
BALD deployer pulled liquidity of over 7,000 ETH ($13m) and the token price came crashing down, dashing the hopes of many along with it
Let's see what happened and what we can learn from this.
BALD Brings Gains
BALD was launched on July 30, 2023, on the new Base Chain from Coinbase. It had only a Twitter account. No website or other social accounts. As the price of the token went up, more and more people wanted to buy it.
I actually didn't know of BALD until when I saw a tweet of a guy by the name cheatcoiner who turned $500 to over $500,000. It was actually over $800,000 at its peak. He said he wouldn't sell until BALD got to $100 million market cap, 1,000x for him.
As I was scrolling through the BALD cashtag search results on Twitter, I saw tweets of several others who claimed to have made gains with BALD. For a moment, I wondered where I was when BALD was less than $50k market cap. Lol
The Cracks On The BALD Head Or Wall?
A few threadors started making threads of how BALD is linked to the owners of Coinbase, as the BALD deployer was adding liquidity with cbETH. In truth, none of those claims were verifiable.
But the fact that the deployer should get more people worried. Rather than worry, degens saw it as a positive sign and people aped more. They never learn, do they?
Fears of a rugpul started creeping in when some users couldn't swap on LetsSwap, the #1 Dex on Base. The LetsSwap put out a tweet to address this concern, adding that "no one is rugging" 👀
Few hours later, the BALD Twitter account tweeted "steady lads." Sounds familiar? 😂
The Collapse... The Head Goes BALD!
News broke out that the BALD deployer added more liquidity shortly after the "steady lads" tweet. This made some degens to impulsively buy more BALD.
Then what was expected happened. BALD deployer pulled 7,000 ETH liquidity, causing the price of BALDt o fall by more than 90%.
While many were wondering what had just happened, the BALD Twitter account tweetd "still here 👀". Whoever was behind the account tried to justify his actions by making the tweet in the screenshot below.
Was his action justifiable? Was he actually innocent, as he tried to claim? While he didn't sell any tokens. In truth, what he did was no different. Pulling liquidity effectively meant telling the contract to sell BALD tokens for ETH.
So, he actually got way more ETH than he added as liquidity. If that is not a rugpull, what is it?
The Lessons
Unfortunately, this won't be the last token to rug on Base Chain or even any other chain. What happened to BALD is beautifully summarized in a tweet by CoinMamba.
Let's see the lessons that we can learn:
Don't buy because others are buying. DYOR and be sure of what you are doing
Do not be hasty to buy shiny new tokens, you can get rekt
If you make huge profits, secure them. The market is not owned by you!
As for the cheatcoiner guy, I hope he's okay. He didn't sell any of the tokens. I wonder how he must be feeling to see over $800k in his account, and then back to zero.
The guy is adamant, though, and believes this isn't the end for BALD. Sighs
If you enjoyed this report, do give it a like and share it with others around you. Here at #Admiano I share crypto lessons in the form of stories, along with other analysis and market insights. You would do well to check them out.
And while you're there, do well to follow me. Catch you later!
At what point do you sell? Do you call the top and close your trades?
May and November 2021 saw Bitcoin make all time highs of 64 and 69k respectively. Many secured life-changing money, others didn't.
Mike was one of those others who didn't secure profits. He managed to move his portfolio from $7,500 to around $85,000 at the top of the bull run.
He was doing great, and he was happy. The Bitcoin price started dropping, and alts followed. Before you knew it, his portfolio was down to $65k.
Mike didn't sell because he believed the drop in price was down to fud. Mike is now down to less than $5k, wondering how he managed to lose all that money.
What can we learn?
🔸Always secure profits
🔸Don't be a 'moon boy', trade with a plan
We'll have a bull run soon, don't fumble. What else did you learn?
#Admiano
May and November 2021 saw Bitcoin make all time highs of 64 and 69k respectively. Many secured life-changing money, others didn't.
Mike was one of those others who didn't secure profits. He managed to move his portfolio from $7,500 to around $85,000 at the top of the bull run.
He was doing great, and he was happy. The Bitcoin price started dropping, and alts followed. Before you knew it, his portfolio was down to $65k.
Mike didn't sell because he believed the drop in price was down to fud. Mike is now down to less than $5k, wondering how he managed to lose all that money.
What can we learn?
🔸Always secure profits
🔸Don't be a 'moon boy', trade with a plan
We'll have a bull run soon, don't fumble. What else did you learn?
#Admiano
Three months ago, my fiancé gave me $4,300 to add to the money we are saving to get married. Today, that money is no more, and he's not aware of it yet.
My name is Kate. I met my fiancé through a family friend almost two years ago, and I have no doubt he's the man I want to spend the rest of my life with.
We decided to save for our marriage and new life, and I am to keep the savings. He has given me a total of $4,300, and I have contributed $2,000. We set a goal of raising $10,000, enough money to get an apartment and basic things.
A friend convinced me to buy some meme coins. She told me how another friend made money from SHIB and BOB. I thought my fiancé would be proud of me if I invested and made a lot of money.
The tokens I bought rugged, and all the money was gone. How do I tell him what happened?
#Admiano
My name is Kate. I met my fiancé through a family friend almost two years ago, and I have no doubt he's the man I want to spend the rest of my life with.
We decided to save for our marriage and new life, and I am to keep the savings. He has given me a total of $4,300, and I have contributed $2,000. We set a goal of raising $10,000, enough money to get an apartment and basic things.
A friend convinced me to buy some meme coins. She told me how another friend made money from SHIB and BOB. I thought my fiancé would be proud of me if I invested and made a lot of money.
The tokens I bought rugged, and all the money was gone. How do I tell him what happened?
#Admiano
Have you ever been tempted to sell something valuable so you could invest in crypto?
If you haven't, maybe you shouldn't. Such risks may work out, yes. But if it doesn't, it can be very ugly.
That's true in the case of Taofeek. Taofeek is a mechanic, and he's very hardworking. He has a beautiful wife, and a healthy son.
In his spare time, Taofeek trades crypto. One day, he saw a tweet of a Punk NFT collection on a new chain. Hoping it would be the next Crypto Punk, he decided to buy. He didn't have up to 2 ETH to mint, so he sold his wedding ring.
Two weeks later, the project rugged. Money gone, ring gone. Whenever his wife asked, he would lie that he forgot it at his workshop.
Eventually, he took a loan to get another ring. His wife found out, and she got mad.
What have you sold to invest in crypto, and why?
#Admiano
If you haven't, maybe you shouldn't. Such risks may work out, yes. But if it doesn't, it can be very ugly.
That's true in the case of Taofeek. Taofeek is a mechanic, and he's very hardworking. He has a beautiful wife, and a healthy son.
In his spare time, Taofeek trades crypto. One day, he saw a tweet of a Punk NFT collection on a new chain. Hoping it would be the next Crypto Punk, he decided to buy. He didn't have up to 2 ETH to mint, so he sold his wedding ring.
Two weeks later, the project rugged. Money gone, ring gone. Whenever his wife asked, he would lie that he forgot it at his workshop.
Eventually, he took a loan to get another ring. His wife found out, and she got mad.
What have you sold to invest in crypto, and why?
#Admiano
From December 2022 to February 2023, Mike turned his $13,000 portfolio into $72,000. Fast forward to July, Mike has less than $4,000 in his wallet.
Let's find out how that happened. We'll also see lessons we can learn.
The bottom was in, and Mike saw the opportunity to make it big. But he needed to convince his wife before putting much money in, as any failure would harm the family.
After a very long conversation, his wife agreed to it. His plan worked, and he made a killing with BTC leverage long. His wife told him to sell, and he promised to do so.
He didn't.
He round-tripped everything, and he's too ashamed to tell her what happened.
The Lessons?
🔸 He didn't practice risk management
🔸 He didn't take profits
🔸 He was overconfident
There are many traders out there like this. Don't be one of them.
#Admiano
Let's find out how that happened. We'll also see lessons we can learn.
The bottom was in, and Mike saw the opportunity to make it big. But he needed to convince his wife before putting much money in, as any failure would harm the family.
After a very long conversation, his wife agreed to it. His plan worked, and he made a killing with BTC leverage long. His wife told him to sell, and he promised to do so.
He didn't.
He round-tripped everything, and he's too ashamed to tell her what happened.
The Lessons?
🔸 He didn't practice risk management
🔸 He didn't take profits
🔸 He was overconfident
There are many traders out there like this. Don't be one of them.
#Admiano
🚨 $700k Drained So Far As Twitter (X) Account Of Vitalik Buterin Hacked!
The Twitter account of Ethereum founder Vitalik Buterin has just been hacked, and over $700,000 drained so far.
Like other similar incident, a scam link was posted through his account, claiming that a commemorative NFT in Partnership with ConsenSys is up for claim.
Unfortunately, many are clicking on the scam link. As of the time of writing this post, over $700,000 have been drained from users who clicked the link, connected their wallet and signed a transaction.
This is a very sad event, and no one knows how long it will take before Vitalik regains control of his account. Only time will tell the extent of this damage.
For people with large followers, you really need to enable 2FA with an Authenticator app. SMS 2FA is simply not enough!
And for the general public:
🔸 Do NOT click on suspicious links
🔸 If an account with large followers makes a tweet of a supposed giveaway, and comments are turned off, know that that account has been hacked
Share this post with others so they don't get scammed from that fake link.
#Admiano
The Twitter account of Ethereum founder Vitalik Buterin has just been hacked, and over $700,000 drained so far.
Like other similar incident, a scam link was posted through his account, claiming that a commemorative NFT in Partnership with ConsenSys is up for claim.
Unfortunately, many are clicking on the scam link. As of the time of writing this post, over $700,000 have been drained from users who clicked the link, connected their wallet and signed a transaction.
This is a very sad event, and no one knows how long it will take before Vitalik regains control of his account. Only time will tell the extent of this damage.
For people with large followers, you really need to enable 2FA with an Authenticator app. SMS 2FA is simply not enough!
And for the general public:
🔸 Do NOT click on suspicious links
🔸 If an account with large followers makes a tweet of a supposed giveaway, and comments are turned off, know that that account has been hacked
Share this post with others so they don't get scammed from that fake link.
#Admiano
How Algod Made $1,000,000 From Luna/UST Crash
At a time when thousands lost their life savings to the Luna/UST crash, one man who cashed out big was Algod.
He was one of the few who had been very equivocal about the fact that Luna/UST was a Ponzi scheme that would soon crash.
On March 3, 2022, Algod tweeted "If Luna breaks all-time high, I will short it with size". Do Kwon, founder of Terra, infamously tweeted back at him, saying, "your size is not size."
On March 22, 2022, they made a $1 million bet each, escrowed by Cobie. If price of LUNA is above $88 in a year, Do Kwon wins. If price was below $88, Algod would win.
Two months later, on May 7, 2022, over $2 billion was unstaked from Anchor, causing UST to depeg and Luna/UST crashed to zero.
Do Kwon was arrested, Algod won $1 million
Ponzi schemes never win.
#Admiano
At a time when thousands lost their life savings to the Luna/UST crash, one man who cashed out big was Algod.
He was one of the few who had been very equivocal about the fact that Luna/UST was a Ponzi scheme that would soon crash.
On March 3, 2022, Algod tweeted "If Luna breaks all-time high, I will short it with size". Do Kwon, founder of Terra, infamously tweeted back at him, saying, "your size is not size."
On March 22, 2022, they made a $1 million bet each, escrowed by Cobie. If price of LUNA is above $88 in a year, Do Kwon wins. If price was below $88, Algod would win.
Two months later, on May 7, 2022, over $2 billion was unstaked from Anchor, causing UST to depeg and Luna/UST crashed to zero.
Do Kwon was arrested, Algod won $1 million
Ponzi schemes never win.
#Admiano
As you must've seen, Binance has received regulatory licence to offer Bitcoin and crypto services in Dubai.
How big a deal is this news anyways, and why should you be bothered?
The Operational MVP License is the third stage in Dubai's four-stage licensing process for VA service providers.
🔸Binance is the first crypto exchange to get this licence.
This means that users who qualify will now be able to access regulated virtual asset services in Dubai under VARA’s investor protection and market assurance standards.
Here's what might interest you.
According to a report by Chainalysis, people in Dubai spent a total of $26.5 billion trading crypto in 2022 alone. And these are mostly retail traders.
Bottom line is that this is good for crypto. It further cements Binance's place as the most trusted exchange. ✊
#Admiano
How big a deal is this news anyways, and why should you be bothered?
The Operational MVP License is the third stage in Dubai's four-stage licensing process for VA service providers.
🔸Binance is the first crypto exchange to get this licence.
This means that users who qualify will now be able to access regulated virtual asset services in Dubai under VARA’s investor protection and market assurance standards.
Here's what might interest you.
According to a report by Chainalysis, people in Dubai spent a total of $26.5 billion trading crypto in 2022 alone. And these are mostly retail traders.
Bottom line is that this is good for crypto. It further cements Binance's place as the most trusted exchange. ✊
#Admiano
