What would be the next Solana? 👀

So, what is going on WBTC? 🔥

The spotlight is on Justin Sun, the wealthy founder of Tron, and there's a lot to unpack.

On August 9, BitGo said they plan to expand WBTC custody to Hong Kong and Singapore during a 60-day transition. They're aiming to open the doors to more countries and institutions and spread out their security measures.

But there’s a twist: the plan involves companies tied to Justin Sun, sparking worries that he might get too much control.

Justin Sun has been in hot water before over how he managed TUSD and the HTX exchange (once called Huobi), with problems like TUSD losing its peg to the dollar and murky dealings with reserve funds.

Some folks in the crypto scene are nervous that Sun might use his influence over WBTC in ways that could shake up the market.

Reacting to these concerns, MakerDAO, a platform built on Ethereum, has suggested putting a halt to WBTC loans and slashing the Loan-to-Value (LTV) ratio to zero as a precaution.

They're also gearing up to vote on whether to keep supporting WBTC after BitGo's changes. They’re worried about Sun possibly pumping out too much WBTC or fudging the numbers on how much backing it has. They point to his recent moves with Huobi's reserves as a red flag.

BitGo's CEO, Mike Belshe, has hit back, saying their platform's setup makes foul play impossible. According to him, no WBTC can be made without Bitcoin backing it, and they're committed to keeping everything transparent with real-time proof of reserves.

After MakerDAO voiced their concerns, Justin Sun chimed in on social media. He insisted his role with WBTC is just strategic, stressing there won't be any compromises on decentralization, security protocols, or safety. He also emphasized that he doesn't hold the private keys to the WBTC reserves; those are safely tucked away using BitGo's tech.

Upbit, paying 140 Million Won, by not returning Luna to investor 🤬

So, here’s a crypto drama for you. Back in March 2022, a guy, let’s call him Mr. Kim, tried to send some Luna coins from his personal wallet to Binance.

But oops! He mistyped the address, and instead of hitting Binance, the coins landed in Upbit’s own wallet.

Mr. Kim wasn’t just going to gave it up. He contacted to Upbit, trying to get his coins back. But Upbit kept dragging its feet, blaming "internal processes" and delayed it.

Meanwhile, the whole Terra and Luna crash saga unfolded, and bam! The value of Luna went to ZERO!

Fast forward to a massive headache for Mr. KIM and a he lost a lot of money too. Tired of waiting, he decided to sue Upbit’s operator, Dunamu, claiming they owed him big time for the loss.

On August 2024, and the Seoul Central District Court has spoken: Upbit needs to cough up 147 million won plus some interest. The court basically said Upbit should’ve made it easier for the investor to get his coin out before everything went south.

This verdict’s a real signal to all Korea crypto exchanges.

Ripple Wins Against SEC... XRP Surges 26% 🚀

So, big news from the courtroom! In August 2024, a US court made a call on the whole Ripple Labs vs. SEC showdown.

The verdict? Ripple only has to pay 6% of what the SEC was asking for in fines. That's like being asked to cough up 20 billion bucks and only having to hand over 120 million—pretty sweet deal, right?

Here’s the scoop: The SEC was all, "Hey, Ripple, you're selling illegal securities and didn’t do the proper legwork for raising cash from investors." They wanted a whopping 2 billion dollars! But the court was like, "Nope, Ripple's not a security." So, they got slapped with a much smaller fine instead.

The ruling reconfirms that Judge Torres's decision in July last year, which found that Ripple's sales to institutional investors violated securities laws, but that its sales to retail investors did not.

Ripple's big wigs must be partying because this is basically a win for them. The price of XRP even jumped 26% to 64 cents after the news hit.

Brad Garlinghouse, the CEO of Ripple, was all pumped, saying this verdict gives them confidence that Ripple’s got some serious growth ahead.

This ruling isn’t just good news for Ripple; it's a thumbs-up for other cryptos too. Investors are buzzing, thinking this could make it tougher for the SEC to label coins as securities in the future.

Should I buy some Bitcoin now? But what if I end up buying at the top? 😰

In the asset market, there is a term "Market Timing." Market timing is a strategy to find the optimal investment timing in the market, and it's important in Bitcoin investment as well.

Firstly, the essence of market timing is to predict the market's direction and buy at the low point and sell at the high point. In simple terms, it's a strategy to buy cheap and sell expensive.

However, as attractive as this sounds, it's really difficult to accurately predict the market. This is true not only for the stock market but also for the cryptocurrency market.

According to research from Boston College and Morningstar, "Investors who attempted market timing often showed lower performance than those who held investments for the long term."

Especially with crypto assets, because of its high volatility, it's even more difficult to catch the exact bottom and top of the market.


So, what's the conclusion? If you're thinking about investing in cryptocurrencies like Bitcoin, it's more important to have a long-term perspective and be clear about your reasons for buying before investing.

Rather than asking if it's okay to buy Bitcoin now, it would be more appropriate to approach it from a perspective of asset allocation, considering your investment goals and risk tolerance.

If you have a positive outlook on the long-term future of Bitcoin, using a dollar-cost averaging strategy, where you invest a fixed amount regularly, can also be a good approach.

Ultimately, the "Market Timing" strategy of buying low and selling high may look appealing, but the success of an investment is often more dependent on adhering to your own investment principles and reasons for buying, as well as your risk management strategy, than on the accuracy of your entry timing. This applies to any asset, including Bitcoin.

So, is it okay to buy Bitcoin now? Well, you should first ask yourself, "Why do you want to buy it? How much and for how long do you plan to invest?"

Binance's CPT Framework: Decoding the Crypto Market? 👀

Recently, Binance has introduced an innovative tool known as the CPT Framework to help stakeholders gauge the pulse of the market.

This framework is built on three fundamental pillars: Capital, People, and Technology.

Each of these aspects provides a unique insight into the forces shaping the crypto landscape.

1. Capital 💰: This pillar examines the financial influx into the market, tracking how investments and liquidity affect market stability and growth.

2. People 👥: A critical component, People looks at user engagement and community growth. This includes not only the number of active users but also the broader sentiment towards cryptocurrency in the public sphere.

3. Technology 🛠️: The final pillar focuses on the technological advancements in blockchain and related innovations. It assesses how these technologies improve security, efficiency, and scalability of the crypto systems.

Understanding these three components helps investors and enthusiasts make informed decisions amidst the market’s volatility.

The CPT Framework by Binance serves as a robust tool to navigate through these turbulent waters, offering a clearer view of where the market is headed and why.

As cryptocurrency continues to integrate into the mainstream financial system, tools like the CPT Framework will be vital for analyzing and predicting market trends.

For further reading on how Binance's framework is applied to current market analyses, you can check out the detailed discussions here: https://www.cr7pt0.com/2024/07/recent-crypto-trends-and-the-binance-cpt-framework.html

Here's Our free FCFS red packets!
Make sure to follow us and stay tuned on our next airdrops.
🎁 Open Red Packet

🎯 What is a market timing strategy and does it work?

Market timing is a strategy that attempts to predict the direction of the market and maximise profits by buying #BTC or #BNB at the lows and selling at the highs.

However, accurate predictions are difficult to make and the odds of success are low for most investors.

Studies have shown that long-term investors often outperform market timers.

Bottom line: watch the market closely, but a steady approach with a long-term investment strategy may be better!

📖 Read more at:
https://www.cr7pt0.com/2024/07/market-timing-explained.html?m=1

How to Get 45% Discount on Fees at Binance?

Are you interested in saving on fees while trading Bitcoin and other cryptocurrencies on Binance?

Here is a simple guide that anyone can follow to receive up to 45% off on fees.

🔥 Use 20% Referral Discount Code: PVZRIK24
🔥 Use BNB to pay fees for Additional 25% Discount
🔥 Now We Get Total Discount of 45%!

🎁 How to Receive 20% Discount on Binance Sign-ups?

When signing up for Binance for the first time, you can get a 20% discount by entering a special referral code.

The referral code to enter during registration on Binance is PVZRIK24.

Or you can simply use this link, which already has the discount code applied: 👉 Binance Signup (20% Discount)

Using this code to access the Binance registration page will automatically apply the discount.

Be careful to enter the code correctly and verify the discount rate after signing up!

🤔 How to Receive an Additional 25% Discount Using BNB?

After receiving the 20% discount, you can get an additional 25% discount by paying transaction fees with BNB coins.

After logging into Binance, activate the option to pay fees with BNB in the fee settings page.

With this option enabled and paying fees with BNB, an additional 25% discount is automatically applied.

This applies to spot transactions, while future transactions receive an additional 10% discount.

😉 How to Verify the Fee Discount?

You can check the initial 20% discount details on the Binance referral page. There is kickback section which you can check the discount from the referral code.

Additionally, fees paid with BNB can be checked in [Wallet] > [Spot Orders] > [Trade History].

If you see that the fees have been deducted in BNB, then the additional 25% discount has been successfully applied.

🙈 Don't Miss Out on a Free 45% Discount Opportunity!

By combining these two discount methods, you can receive up to a 45% reduction in trading fees on Binance.

This can result in significant savings, especially for frequent traders, so be sure to take the advantage!

Congratulations to all Short holders with us! 😎

Solana has finally experienced a significant decline, validating our short-selling analysis, which we shared three weeks ago. It's important to exercise patience and discipline in trading.

We mentioned regarding Solana's target of $80. Although this target was reached a week ago, but the moving was fast to take the profit properly. The decision to wait for confirmation demonstrates your commitment to prudent trading strategies.

In the dynamic world of financial markets, carefully assessing timing and executing trades thoughtfully is crucial for long-term success.

Also, market timing is undoubtedly challenging, but by effectively managing risk through prudent position sizing, leverage, and employing stop-loss strategies, we can enhance our overall success rate.

We invite you to follow our updates to gain valuable insights and stay informed.

📉 SOL SHORT SIGNAL

We have initiated a short position on SOL (Solana) with an average short price of 95.3 USDT. Our expected target for this short position is 80 USDT, and we are utilizing 2x leverage.

It's crucial to emphasize that trading in the cryptocurrency market carries inherent risks. Before acting on this signal, we strongly recommend conducting your own thorough research and analysis.

This signal is generated based on our quantitative trading system and is intended for informational purposes only. Always consider your risk tolerance and trading strategy when making decisions in the crypto market.

Bitcoin is currently trading around $44,000. What is the next moving? 🤔

We have observed a short signal on both the 1-hour and 4-hour charts, yet the 1-day timeframe chart still indicates a long position.

Consequently, there are two viable strategies: a short-term short position in futures or seeking profit in the spot market.

However, it is crucial to acknowledge that there are no guarantees in trading. Conduct your own analysis and implement stop-loss orders to manage risk effectively.

*Please note that this is not a recommendation for either short or long positions. It is simply a sharing of opinions and algorithmic signals based on our system.

Ethereum Deflation and Ultra-Sound Money 🔊

After Ethereum's historic merge upgrade, the Ethereum community is entering a new era.

Ethereum has now become an 'Ultra Sound Money' , which means that over time, Ethereum's circulation volume decreases, and its purchasing power and value increase.

#Ethereum and deflation 💸
Before the merge upgrade, Ethereum used a proof-of-work (PoW) system that issued about 14,000 ETH of new ether every day.

However, after completing the transition to proof-of-stake (PoS), the amount of ether issued decreased significantly. As a result, Ethereum entered a state of deflation.

In addition, the burning mechanism (EIP-1559) through increased usage of the Ethereum network is burning more ether than the rewards from staking. Consequently, the circulation of Ethereum is no longer increasing but decreasing.

Sound Money and Ultra Sound Money 💰
Sound money refers to currency whose purchasing power remains stable over time. Assets like gold and Bitcoin are examples of traditional sound money.

On the other hand, Ultra Sound Money has purchasing power It refers to a deflationary currency that is not only stable but also increases in value over time.

In the case of Ethereum, after the merge upgrade, it effectively reduced the amount of Ether in circulation, ultimately becoming the driving force behind converting Ethereum into ultra-sound money.

Final Thoughts 🌟
Ethereum has become a deflationary, ultra sound money after successfully completing the transition from proof-of-work to proof-of-stake. Ethereum is at the center of the virtual asset ecosystem, and its value is likely to continue to rise as transaction usage increases further in the future.