Neiro ETH has been poured on Binance, but there is, as they say, a nuance

Let's take two pieces of news:

On August 1, Binance News writes that Bubblemaps identified 78% of Neiro tokens as having been spotted by insiders/teams.
And already on September 6 lists this memcoin on Binance perp listings.

Between the receipt of tokens by market maker Wintermute, listing on Bybit it fell from $280M capitalization to $22M, where another market maker took advantage of the situation and got enough token supply for cheap.

He did the famous trick with catching up volumes on Bybit futures (up to $300M / day) and sold it as a high volum meme koin cambake story for Binance.

As a result - the token is worth $160M, the market maker and insiders are rubbing their hands happily waiting for the opportunity to trade the token on Binance.

The hunt for Hyperliquid whale with 1,170 BTC continues

Earlier in the blog I wrote about a major player who has concentrated 25% of the Hyperliquid exchange's open interest in BTC in one hand.

Whale's current position: 1,170 BTC, entry $62,217, liquidation moved to $52,825.

Funding costs for the position $907K, unrealized loss $6.88M.
His trading style is very specific, he adds on market upswings and often cuts on downswings. Yesterday, Monday, he added a lot on the local top at $59.3K and cut the position on the downside for a few million.

Also, the whale added $1.2M USDC collateral the day before.

Ethereum Foundation: Ethereum's long-term scaling plan is to use SNARK technology to virtually unlimitedly increase core network bandwidth (L1 EVM).

Instead of re-executing each transaction, validators will be able to check for low-cost cryptographic evidence (SNARK). This will significantly increase the gas limit without overloading the validators. All complex computations will be performed outside of consensus by specialized nodes. Users and consensus participants will be able to easily run their nodes even on their phones or watches.

In addition to vertical scaling, SNARK technology opens up possibilities for horizontal scaling. A dedicated precompiler will allow new EVM instances to be launched within the core network, creating an unlimited number of programmable shards known as “native rollups.”

SNARK will allow Ethereum to process many more transactions without increasing the load on the network and will allow the creation of an unlimited number of “child” networks (shards) for even greater scalability.

Binance plans to introduce a Solana steaking product (BNSOL) by the end of September

BNSOL will allow users to steak SOL tokens to receive a portion of the commissions paid by the network and to mine a liquid steaking token that can be used while native tokens are locked.

Nvidia casually fell 9.27% or $280B on the first trading day of September for no reason

The reason turns out to be. After the close of trading - the company announced it had received a subpoena from the US Department of Justice related to an antitrust investigation into Nvidia's position in the AI industry.

What kind of Polichinel secret is this if the market was falling behind this subpoena in advance without knowledge of its delivery?

The first one went! ZkSync is saying goodbye to 16% of the team

A couple months ago, TGE passed, ZkSync has $458M in investment rounds and it's time to say goodbye to every 6th member?

It's 2024, BTC is still $58K, ether is a month old with ETF recognition, rate will be cut in 2 weeks.

Bear market for alts is starting to cut the fat from the most wealthy (at least in terms of the amount of money stashed with investors).

How Bybit got involved with scammers and what Wintermute has to do with it. The Bybit exchange has a new record and it is not positive at all

In 15 days, the listed token Neiro lost 87% of its listing price on ether.

The Bybit team fell for the market leader “new dog” from the owner of the dog, which became the prototype of Doge Coin.
They listed the token for $250M capitalization on perps so that all the scam-fluencers who had locked bags in it could unload on futures.

The recipe for this fin crime was a token that was pushed by Influencers as an alternative to Neiro's solanum tokens - all Influencers were paid between 0.5% and 1% of the token supply.

At the peak - for shieldposting on twitter / tg - influencers' purse was around $1.5M-$3M.

The final offloading began as the “monthly” vesting came to an end.

In the end, it was possible to shell out three times on this project: first on two Neiro on Solana, and then also on a scam air Neiro.

Hopefully, the listing team at Bybit will take note of all the infls that dragged this Neiro and in particular the market maker from Wintermute.

19 year old Reddit user lost $64.5K on copper and SP500 options trading

A hapless degenerate who thinks he is Michael Bury (from the movie The Big Short) - after seeing that at the French Olympics many people criticized the bronze medals of the athletes - decided to short copper, since bronze consists of about 88% copper.

After losing $8,500 when he had $400 left in his account, he decided to play with one-day options on SP500.

Boom, boom, when he woke up the next day - turns out he had a requirement to buy 100 shares of SPY in his portfolio and a $56K debt to his broker.

The young man lost $64.5K, of which the net debt to the broker was $56K. Let's wish good luck to the brave trader and wait for him on the crypto market.

September Events Calendar Part 1

There are several important points for the month of September where increased market volatility is expected:

- September 6 - Labor Market Data. July 5 and August 5 were extremely volatile to the downside after the data was released.

The market now interprets and considers the most important indicator of the health of the U.S. economy - not inflation, but the number of jobs created. Based on this data on August 5 - the market plunged into a not-so-pleasant weekend when BTC went below $50K.

- September 18 - the outcome of the Fed's two-day meeting, the announcement of a rate cut. The full moon is also graceful on this day.

- September 20 - triple witching - a day when stock options, stock index futures and stock index options expire on the same day. This only happens four times a year - on the third Friday of March, June, September and December - which can lead to a dramatic increase in trading volume and volatility.

- September 28-29 is the date CZ is released from places not so remote. Pumps of bnb are expected in the area.

Some more extras:

Maximum intra-month drawdowns in September BTC by year:

2023 -17.29%
2022 -27.04%
2021 -21.22%
2020 -20.88%
2019 -36.42%
2018 -27.10%
2017 -40.72%
2016 -10.43%
2015 -12.11%
2014 -36.13%

August: The last month of crypto vacations and no positivity

- There was FUD around Dexscreener and pump fun due to accusations of profiteering retail investors, the new loonie narrative is coming to an end and there are hardly any new runners emerging

- Jump Crypto appears to be exiting crypto entirely. First $ETH came under attack, then wallets started picking up $SOL

- $WBTC was criticized due to its move under Justin Sun's management. Coinbase is planning to launch its own $cbBTC

- The same Justin Sun is hijacking the meme-chain initiative by promoting TRON. scammers Market makers of the bonk have already stepped up

- Durov's arrest in France had an immediate impact on the TON ecosystem's prices, and the blockchain also started to perform erratically

- On Binance there is a pump of “dead” tokens: $RARE, $NULS, $AURA, $VIDT, $ALPACA

That's how crypto-summer turned out to be! Now it's time to pack your crypto portfolio and get ready for the new season. I hope your backpacks have not lost 80% of their weight like some infrastructure tokens like $W

📝 How the Kryptans spent the summer

GM! September has arrived and we're back at our study desks, but first let's recap all the interesting things that happened to us over the summer

June: A month of airdrops and drama.

- The ZkSync, LayerZero, and Blast airdrops took place. LayerZero ran a controversial campaign with the option to “surrender sibil” for a portion of the airdrop. zkSync had a tough wallet screening process, and Blast failed to live up to expectations by not getting listed on Binance.

Current prices from the close of the first day: $ZRO +18.37%, $ZK -49.83%, $BLAST -63%

- There was a major liquidation of $CRV for $22.6M dollars, as a result of which Mikhail Egorov apparently decided to retrain and started his own Telegram channel

June Narrative: The market is once again coming around to the idea that tokens with Low Float - High FDV can be a tool for manipulation from VCs. $WLD was a prime example this season
July: A time of disappointment and memes

- Bitcoin sales from MTGox continued, there was also a $BTC dump by US and German governments

- Retail investors are getting more involved in meme trading. The pump fun platform gained momentum with over 1.5 million tokens launched and $2.3M in revenue. Gotbit bought ads for a scam box from Messi, which rolled to zero in a few days, and memes reached 70% of total cryptocurrency trading volume

- The launch of the $ETH ETF took place. The price at launch was around $3500, current value $2514 (-28.9%)

July Narrative: Expectations that Blackrock and U.S. policy would boost the market failed to materialize, leading to notable capitulation among crypto investors.

Yesterday's decline on BTC was accompanied by sales on Binance above $1B (17K BTC) and was more aggressive than the decline on August 5

In 1 hour and 10 minutes, open interest was down 9% (17,115 BTC).

According to Split Capital's Zaheer - he doesn't remember such an aggressive liquidation cascade since the Bitmex 2019 / Alameda 2020-2021 era.

The issuer of the DAI stablecoin, MakerDAO, renamed to SkyEcosystem, lost control of the MakerDAO Twitter name
Now this Twitter handle is showing some Chinese crypto-degen, but I'm sure there will be a quality scam in the future to scam those users who habitually go to offsites via Twitter.

Let's remember the rebranding of MakerDAO and the future victims of social engineering

A trader holds 26% open interest in BTC on Hyperliquid platform alone

Twitter is discussing a character who opened a long on 1267 BTC with an entry price of $63,721.

Of the $300M of open interest in BTC - he owns 26% or $78.3M.
Funding - earlier in the morning he was paying $5K per hour to hold the position.

The liquidation price is $55,334.

U.S. BTC ETF Funds Own 84% Size of BTC Satoshi Nakamoto's BTC holdings

According to Bloomberg analyst Eric Balchunas - funds may become the largest holders of BTC before Halloween

As of August 27 - US ETF BTC = 921,540 BTC

Binance scam parade continues. $NULS.

The listing of the 2017 project - Nuls - is on the line

The current capitalization is $47M.

The token has fallen 94.9% since the high (high on January 10, 2018 - $8.53).

Question for Binance: the project had 7 years to build a Bitcoin ETH EVM blockchain.

Have they built it?

According to EVM Scan - there were 201 transactions on the blockchain in 24 hours.

New bondage meme token on Tron

Twitter is discussing the $Bull token dump on the tron network. The record is $2M -> $250M in less than an hour.

The recipe for such a successful launch is a bit of fin crime, collusion and buying up the entire token supply.
Who is behind this token?

The Memcoin Mafia and its mastermind - https://x.com/CrashiusClay69 , previously behind the $Brett token on Base.

$Bull bypassed a project run by another well-known market maker ($sundog) and is now climbing the palm of meme supremacy in the tron ecosystem.

Unfortunately missed out on this token, so we're left to watch and wonder if it will be snatched up by $1B (which is possible with Justin Sun's backing). As it is, Brett was worth $1.8B at its peak, which means these scammers have enough money to pummel $bull.

TON: “Following the recent news surrounding Telegram founder Pavel Durov, we want to assure everyone that the TON community remains strong and fully operational.

As a community committed to free speech and decentralization, we stand firmly behind Pavel during this challenging time. Paul has been a dedicated advocate of these values, and we believe that his efforts to promote an open and decentralized internet will continue to inspire millions.

The TON community remains focused on our mission, and we will continue our work to uphold these principles around the world. We encourage everyone to remain calm, united, and continue to build as we tackle this situation together. Thank you for your continued support.

TON Community.”

According to Tron DAO Reserve, ~12,000 BTC used as USDD reserves were recently withdrawn and all went to the HTX exchange.

The current USDD supply is ~745 million, with a collateral value of $1.723 bln, but ~98.8% of that collateral is held by 10.93 million TRX ($1.703 bln).

The new strategy of Binance is very eloquent - to attract users - it is necessary to give tokens from the open market:
Today on the futures poured token from 2021, with a capitalization of $20M.

Agree, a significant contrast with starknet listing at $60B?
From the funny thing: the maximum price of this token ($alpaca) - was on March 6, 2021, at the height of bsc-mania.
From a peak of $8.78, the token has fallen to $0.079 as of August 5: or 111x.

The strategy is entertaining: why look for a product that might take off? We take the crap from the elephant that fell 111x from the peak, give it the liquidity of Binance and Bybit futzedegens - and give the degens who bought into the long - a couple triple/quintuple X's on the net.

At the expense of whom? At the expense of those who didn't rebuild and decided to short this crap (paying 9-12% per day to longists on position size).