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What does Le Quy Don have to do with Blockchain?

This year is 2024, many Bitcoin ETFs have been approved and the Blockchain industry is also experiencing important development milestones over the past 15 years. Ethereum with the Dencun update and the Layer2 ecosystem are growing rapidly. Although Bitcoin and Bitcoin Layer2 joined late, they still brought fresh and vibrant winds to the entire Blockchain space.

But not everyone knows what Blockchain is. When I have to explain Blockchain to people I know, I often use the following anecdote about Le Quy Don's extraordinary memory.

"One day, Le Qui Don came to visit Ly Truong's house and saw on the table a book containing the names of people who owed taxes. He opened it and saw that some were owed five or seven measures of rice, and some were a few denars of money. Not long after, Ly Truong's house was arrested. burned to ashes, the tax debt book was also destroyed. When meeting him, Ly Truong complained that he did not know where to look to ask for money. He read it again from beginning to end so he could copy it down. Ly Truong did not dare to decide, but Until I followed the book to collect the debts, it was all right, no one complained, then I believed it."

In a simple way, the tax book is the blockchain with 2 nodes ;)). A Fullnode - or the original tax book - resides with Ly Truong so he can add and edit. A lightnode is located in Le Quy Don's head, this is the copy that saved Ly Truong when his notebook burned.

Blockchain in reality has thousands of such copies. And this is also the reason why data in Blockchain becomes immortal.

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What does Voldemort have to do with Blockchain?

In a conversation on x.com, J.K. Rowling - author of the famous Harry Potter series once said that she did not understand Bitcoin and wanted to hear people explain.

One humorous comment compared Voldemort to centralized banking, and Harry to Bitcoin. ;))

However, to me, Voldemort is more similar to Bitcoin. Here he is a blockchain with 7 nodes ~ equivalent to the 7 horcruxes he keeps.

If horcruxes are what make Voldemort immortal, then a globally distributed node system will help Bitcoin withstand censorship, targeted attacks and natural disasters.

Please hold on to Bitcoin for your family and future generations!

Bitcoin spot ETF has recorded positive inflows for 4 consecutive days 📈
Yesterday, 129.45 million USD flowed into the $BTC spot ETF. No fund sold out, and Fidelity was the biggest buyer, with 65 million USD recorded 🚀
No smart fund is bearish at the range low within the price range. You shouldn't be either 💪

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💰 The trading session on July 23rd marked the end of a 12-day positive streak for BTC spot ETFs.
- BlackRock (IBIT): +$71.9M
- Bitwise (BITB): -$70.3M
- ARK (ARKB): -$52.3M
- Grayscale (GBTC): -$27.3M
- Fidelity (FBTC): 0.0
- VanEck (HODL): 0.0
- Valkyrie (BRRR): 0.0
- WisdomTree (BTCW): 0.0
- Franklin (EZBC): 0.0
- Invesco (BTCO): 0.0
TOTAL: -$78M
🔤 Meanwhile, the first trading session for $ETH Spot ETFs has confirmed a positive inflow of $106.6M
- BlackRock (ETHA): +$266.5M
- Bitwise (ETHW): +$204.0M
- Fidelity (FETH): +$71.3M
- Grayscale Mini (ETH): +$15.1M
- Franklin (EZET): +$13.2M
- VanEck (ETHV): +$7.6M
- 21Shares (CETH): +$7.5M
- Invesco (QETH): +$5.5M
- Grayscale (ETHE): -$484.1M
TOTAL: +$106.6M
From today onwards, $BTC might begin a correction phase after the recent 10k surge, making room for $ETH.
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If we believe in cycles, then July will be a month of growth.
Many comparisons show that this period in 2024 is very similar to the end of 2020. This means that the cyclical pattern is still being maintained (even though $BTC is in an uptrend about 3 months earlier than expected).
$BTC has been sideways for nearly 4 months now. Break-out soon 🙏
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🌝 WAS THE MASTERMIND BEHIND THE TERRA BLOCKCHAIN HACK VIETNAMESE? 🤔
According to CoinDesk, yesterday at noon Vietnam time, dEaDcHaIN Terra LUNA was lightly looted by hackers for over 4 million USD, including $ASTRO, $USDC, $USDT, and $BTC tokens. 💻
Sources suggest that the mastermind behind this hack is a guy named Phạm Anh Tuấn, who studied at FPT Greenwich and PTIT, and is currently a developer at a blockchain company. 😨
However, leaving so many traces and information after the hack might make it hard to enjoy the stolen money. He might not even eat or sleep well! 🤣
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Last night, I dreamed about making x125 leverage trades on Binance, and this morning, I woke up to a gift from #Binance . Looks like the dream is about to become a reality 😆😆😆. Our team has both traders and ref runners. We train new traders in this market from A to Z and train BD folks from A to Á 😆.
When it comes to tools, we support you from A to X, but for Y and Z, you'll have to join us for a wild night out to get the info 😆.
Thank you, Binance Vietnam, for sponsoring Eira's travels around the world 🥰🥰🥰.
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Did Germany 🇩🇪 lose money organizing the EURO, so they have to sell "assets" to cover the national team expenses?
The German government just put 1,500 Bitcoins on the market... probably to sell.
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There is some information on X that FTX will return money to users next month. The total amount is about 16 billion USD in cash (FTX will return cash, not crypto; the value is based on the price when $BTC was 16k...).
Therefore:
👉 FTX returns cash => there is no selling pressure on any coin.
👉 Addicts tend to relapse, so if users get 16 billion USD back, they are likely to deposit it into Binance, Okx, or Coinbase, etc.
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Maybe this is the reason why it couldn't break through the 70k mark. The U.S. government has just moved $2 billion worth of Bitcoin to a new wallet. Is the U.S. out of money to fund weapons again?
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$BTC reclaiming 59k; expecting a pump to the high range zone of 70k.
Currently, I see this as a “technical rebound” after the previous downtrend, supported by the RSI divergence on the daily chart (as noted last week). This “technical rebound” will turn into a true uptrend if $BTC surpasses 64.5k, confirming the bullish trend for Bitcoin.
I firmly believe we are in a bull market, and these corrections are just shaking out weak hands before a massive pump. Altcoins have tanked quite a bit, so I expect them to move sideways and accumulate in the near future, while $BTC pumping makes sense.
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**Retail Disheartened, but Wall Street is Still Buying?**
By the end of yesterday, capital continued to flow into Bitcoin spot ETFs, with $250 million being a promising figure. 👍
Notably, the GBTC fund also purchased $25 million worth, and BlackRock's IBIT led the way with $187 million.
Traditional finance (Trafi) remains bullish at these low ranges... So why is X flooded with posts predicting $BTC to drop to 40k? 🥲🥲🥲
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From March 2024 to the present, the price of $SEI has dropped by approximately 4.5 times, while the total value locked (TVL) has increased by 5.4 times.
=> This indicates that the market still has confidence in the project; $SEI has also recently received a grant to stimulate its ecosystem.
I remember back in October, when I called the $SUI trade, I observed a similar phenomenon. The price of $SUI remained stagnant below 0.5 for a long period while its TVL kept increasing. $SUI also launched several grants to boost the GameFi sector.
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Ferrari accepts cryptocurrency payments in Europe.
Previously, the "prancing horse" had accepted crypto payments specifically in Bitcoin, Ethereum, and USDC.
I wish they would accept #STRK... I'd try to get one.
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"Low float - High FDV - Crazy Prices."
Lately, I've read many articles criticizing tokenomics where initial token generation events (TGEs) have very low initial supplies but high total supplies. This setup results in low market caps but very high fully-diluted valuations (FDVs).
Last night, I backtested over 20 altcoins from the 2017-2018 cycle to the 2020-2021 cycle to compare with the current one. Interestingly, I found that previous cycles faced similar situations.
In 2017-2018, FDVs ranged from hundreds of thousands to a few million. In 2020-2021, they jumped to tens of millions to hundreds of millions. Currently, top-tier altcoins are being valued in the billions.
Are they overvalued? 👉 Yes. That's the game; if you accept it, you can participate. Alternatively, you could seek coins where all tokens have already been released. (However, based on my backtest, these often underperform significantly during bull runs.)
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$BTC closed the weekly candle with a Pinbar at the range-low; an important "support" area 🙏
The weekly structure of $BTC is bullish 🚀. The fact that the price couldn't drop below 60k and quickly bounced back to the 62k-63k area shows there is buying pressure at the range-low within the 56.5k - 74.3k price range 💪
$BTC has been trading in this range for 4 months. Therefore, I expect a breakout in July (upside).
Regarding the daily timeframe, $BTC is just moving sideways within the price range. The price moves from range low to range high and back again. There is no specific trend. The optimism comes from the smaller timeframes, H4-H1.

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$BTC is currently at the range low, with an H4 sweep bottom creating a bullish RSI divergence.
Currently, the market is a brutal PvP environment. Experienced traders vs. experienced traders vs. VCs vs. devs vs. MM teams. If you're not confident you're in the top 5%, it's best to stay on the sidelines and observe. It's not too late to jump in once the uptrend/downtrend is confirmed.
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"Overvalued, overvalued, overvalued 😂
My newsfeed is flooded with bearish posts, saying this project and that project are being priced too high.
$STRK, $ARB, $OP - layer 2
$SUI, $APT, $TIA - layer 2
All are around ~7b market cap, meaning 5-7 times the private round valuations of Tier 1 VCs.
Solana also once received severe criticism from Eastern Laos and international CT. From 5u down to nearly 1u, then back up to 3u => The entire community cursed it as overvalued.
The story after that, everyone has seen. $sol, $near, $ftm, $avax, $luna, and dozens of other L1, L2 tokens all went to the moon.
Developers, MM, VCs of any project all want to dump. But to dump, there must be liquidity. To have liquidity, there must be marketing. And there's no better marketing method for a project than pumping.
$NEO, $XLM, $XRP
$ETH, $SOL, $DOT, $AVAX
$TIA, $SEI, $SUI, $APT
want more examples?"

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