Crypto expert Justin Sun, founder of Tron, has suffered significant financial losses due to a market downturn, losing around $66 million after Ethereum's price plummeted by over 10%. This loss came after he had previously made a $58 million profit from Ethereum. The market's volatility has led to widespread liquidations, including Sun's, sparking concerns about his financial strategies. Recently, Sun transferred $21 million worth of various cryptocurrencies to Binance, leading to speculation about his intentions and potential market impact. Sun's actions underscore the challenges investors face in the volatile cryptocurrency landscape.

#justinsun #Liquidated #crash #Ethereum2 #ETH $ETH $ETH

BNB will touch 520.17 and even go down more very soon.

$BNB Short Time

Quick short entry position to get good profits.

#BNB☀ will dip again.

Now its current situation is at $525.3. I'm looking for a quick sell entry.

The TP1 is $520.9,
TP2 is $515.0.

Technical Analysis Report: $BNB /USDT

Current Price: $525.3
Resistance: $545.1
Support: $520.9

Long Trade: Enter above $545.1 with targets at $550.0, $555.0, and $560.0, and stop loss at $525.3.

Short Trade: Enter below $520.9 with targets at $515.0, $510.0, and $505.0, and stop loss at $545.1.
$BNB

#Write2Earn! ! #BinanceTurns7 #bnb #BnbAth

😱 BRAKING NEWS ALERT:

The 2024 #Bitcoin Act has been formally presented to Congress and is now under review by the Senate Banking Committee. $BTC #bitcoin☀️

#Write2Earn! ! #BTC☀ $BTC #BinanceTurns7

HODL 🚀$BTC

Buy! $BTC

At 34, I deeply appreciate the value of time. As a founder, I understand my great responsibility. Achieving financial freedom for eight billion people requires focus and execution. Curiosity and an open mind will help us see the future sooner. Thank you all for your kind wishes.$BTC
$ETH
$BNB
#BTC☀ #July_NonFarmPayrolls_Shock #US_Job_Market_Slowdown #JustinSun

Justin Sun transferred 110 million USDT to HTX 5 hours ago, potentially considering buying ETH at its current low price.

◎ He withdrew 65.1 million USDT from JustLend using the address TT2T17KZhoDu47i2E4FWxfG79zdkEWkU9N and then transferred 70 million USDT to HTX.

◎ He withdrew 40.24 million USDT from Aave using the address 0xdbfd25f0e50008179201f00306621917bc728ec8 and then transferred it to HTX.

#JustinSun

Ethereum Layer 2s Under Pressure as TVL Plummets $ETH

A Perfect Storm for Layer 2s

The Ethereum Layer 2 ecosystem is facing a significant downturn as its total value locked (TVL) has dipped below the crucial $40 billion mark. This sharp decline, primarily attributed to the recent ETH price correction, underscores the inherent volatility and correlation of the Layer 2 market with the underlying Ethereum network.

Leading protocols like Arbitrum, Base, Optimism, and others have all experienced substantial TVL contractions over the past week. While these projects have shown remarkable growth in the past, the current market conditions are testing their resilience.

It's crucial to note that while a declining TVL can be a bearish indicator, it's essential to evaluate these developments within the broader market context. A recovery in ETH prices could potentially reinvigorate the Layer 2 sector.

Nevertheless, the current trend serves as a stark reminder of the challenges facing the burgeoning Layer 2 landscape.

Would you like me to add any specific insights or analysis?

US July Nonfarm Payrolls: A Chill Wind for Markets

The US economy is showing signs of slowing down.

The latest nonfarm payroll data has sent shockwaves through the financial markets, raising concerns about a potential economic downturn.
While job growth was positive, it came in significantly lower than expected. Coupled with a rise in the unemployment rate, this data suggests a cooling labor market.

Impact on Crypto and Stock Markets

Stock Market: The prospect of a slowing economy often leads to stock market declines. Investors become cautious about investing in riskier assets as they seek safer havens like bonds.

Crypto Market: Cryptocurrencies, known for their volatility, can be severely impacted by broader economic trends. A downturn in the stock market can spill over into the crypto market, causing prices to plummet. Additionally, investor sentiment plays a crucial role in crypto, and fear of a recession can lead to widespread selling.

Potential Economic Implications
Beyond the markets, a weaker-than-expected jobs report raises questions about the Federal Reserve's monetary policy. With inflation showing signs of easing, some analysts were anticipating interest rate cuts. However, the latest data might complicate this picture.

It's important to note that this is a developing situation. While the nonfarm payroll data is a significant indicator, it's just one piece of the economic puzzle. Other factors, such as inflation, consumer spending, and corporate earnings, will also influence market behavior.

Investors should approach the market with caution and consider diversifying their portfolios to mitigate risks.

What are your thoughts on the latest economic data? How do you think it will impact the markets in the coming weeks?$BTC $ETH $BNB

#July_NonFarmPayrolls_Shock #stockmarket #investing #economy

Major Market Dump: Unpacking the Causes 🚨

What's Not to Blame:

- Unemployment rate ❌
- WWIII fears and Genesis selling ❌

The Real Culprit:
- Bank of Japan raising interest rates ✅

Key Insights:

1. Historic Move by BOJ:
The Bank of Japan has increased its interest rate for the first time in 17 years. The last time this happened was in 2007, just before the US recession.

2. Impact on Investors:
With near-zero interest rates, Japanese investors were borrowing yen to invest in international markets, including US equities and crypto. The recent hike means borrowing costs are no longer negligible.

3. Market Reaction:
Investors are now selling off their international assets to pay back their yen-denominated loans, leading to a market dump.

Looking Ahead:
Unless the BOJ or the Federal Reserve cuts interest rates soon, the market is likely to face continued pressure.

#Crypto #Yen #BTC☀ #MarketAnalysis #btc $BTC
$BNB
$ETH