Crypto markets experienced a downturn today, led by a decline in Bitcoin (BTC) below $97,000. This followed a sharp drop from its all-time high of $108,000 earlier in the week. Major altcoins like Ethereum (ETH) and Solana (SOL) also saw significant losses. The overall crypto market capitalization decreased by 2%, and trading volume dropped significantly. Despite the bearish trend, some positive developments occurred: * U.S. Bitcoin Reserve: Senator Cynthia Lummis confirmed the U.S. will hold a strategic Bitcoin reserve for at least 20 years, a move expected to have long-term implications for the market.
* ETF Inflows: Bitcoin and Ethereum ETFs saw inflows of $449 million and $62 million, respectively.
However, negative news also emerged: * Ripple Transfer: Ripple transferred 90 million XRP to an unknown wallet, sparking speculation.
* Whale Activity: A Solana whale accumulated 1.7 million SOL after the recent dip.
Meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB) also experienced declines. Among individual coins, Hyperliquid (HYPE) was the top gainer, while dogwifhat (WIF) and Ethena (ENA) suffered the largest losses.
Disclaimer: This is a simplified summary and does not constitute financial advice.
Look, I know many influencers will say it's a normal market correction, but it's not.
As I already mentioned in my earlier post, market is full of big players who trades on news.
The biggest news in 2024 was trump winning the election. Big whales were waiting for that trigger to buy bitcoins and enjoy millions of profits.
Everything was pre planned. Everyone was expecting the trigger. In fact, billionaires like Elon Musk did lobbying for the trump government.
And trump intentionally promised about bitcoin, as he knows that if he can fulfil self interest of billionaires, they will support him for free.
Now, it's clear the that the bullish move was preplanned. Even almost all US big financial firms made bitcoins purchase easier beginning of this year.
But when someone takes entry, if he is wise, he plans for exit. Most of the big whales are just traders not investors. Means they just come when there is opportunity. Then they take away all the money.
In most cases, their exit was on 105-108k and they took exit with max profit leaving behind the bearish market.
But as I always say, I'm not a trader. I'm an investor. I don't invest looking at chart. I invest when I feel confident about a currency/ project/stock.
Believe or not, BITCOIN IS THE FEATURE.
For everyone, please don't panic if you are trading in spot. Even if you are trading in future but your liquidation price is below 70k, you are fine.
I would say, it's another buying opportunity. Just wait for BTC to bounce back and then start investing.
Also, if you can, before altseason buy ETH, XRP, DOT, TRX, SOL.
If you need suggestions on a specific coin, comment it out!
Don't forget to check pin comment if you are interested in Airdrop.
LINE, a popular messaging app in Asia, is making it easier for people to access Web3 technology through their app. Web3 is a new way of building online applications that are decentralized, meaning they are not controlled by any one company or government. LINE is doing this by launching "Mini Dapps" and a Dapp Portal. Mini Dapps are small, web-based applications that can be accessed directly through the LINE Messenger app. This will make it easy for people to try out Web3 without having to download any new software. The Dapp Portal will be a place where people can find and learn more about Mini Dapps. LINE is also working with the Kaia DLT Foundation to support developers who want to build Mini Dapps. The Kaia DLT Foundation is a non-profit organization that is helping to develop the Web3 ecosystem in Asia. They will provide developers with resources such as software development kits (SDKs) and funding. This is a big deal because it could make Web3 more accessible to millions of people in Asia. Web3 has the potential to revolutionize the way we interact with the internet, and LINE is helping to make that happen. Some of the first Mini Dapps to be launched include games like Bombie and Shin-chan's Match Daily, as well as a fitness app called Superz. These apps show the potential of Mini Dapps to be used for a variety of purposes. By making Web3 more accessible, LINE is hoping to encourage more people to develop and use these new technologies. This could lead to a more decentralized and open internet in the future. #RideTheKaiaWave #MarketNewHype $
Toncoin (TON) has shown resilience amidst a broader cryptocurrency market downturn. Despite a 4% dip in 24 hours, the coin's trading volume surged by over 31%, indicating sustained investor interest.
While the coin has faced challenges recently, including a drop in ranking and price, the recent volume increase and Bitcoin's upward trajectory suggest potential for recovery.
TON's strong on-chain activity and its role in powering Telegram-based dApps further bolst$er its long-term prospects. #ToncoinSurge #NewsAboutCrypto $TON
$BTC Common Pitfalls of Futures Trading Many futures traders, after initial success, encounter a string of losses. To avoid this, it's crucial to understand and avoid common pitfalls. Key Mistakes to Avoid * Inconsistent Strategy: * Successful traders adhere to a well-defined trading plan. * Deviating from this plan due to emotions can lead to significant losses. * Neglecting Risk Management: * Futures trading inherently involves risk. * Employing stop-loss orders and hedging strategies can help mitigate potential losses. * Lack of Focus: * Effective trading requires undivided attention. * Minimizing distractions is essential for making sound decisions. * Resistance to Learning: * The markets are constantly evolving. * Successful traders stay updated with market trends and are open to adopting new strategies. Qualities of Successful Futures Traders * Independent Thinking: * Successful traders form their own opinions, rather than blindly following the crowd. * They analyze market trends and make informed decisions. * Strong Analytical Skills: * A solid understanding of technical and fundamental analysis is crucial. * Continuous learning and practice are key to honing these skills. * Lifelong Learning: * Successful traders remain committed to learning and improving their skills. * Attending seminars and workshops can provide valuable insights. * Effective Use of Trading Tools: * Access to real-time quotes, trading platforms, and analytical tools is essential. * These tools enable timely decision-making and execution. Conclusion By avoiding common mistakes, cultivating essential qualities, and staying committed to learning, traders can increase their chances of long-term success in the challenging yet rewarding world of futures trading. #FutureTarding #FuturesVsSpot
GRASS: A green and innovative cryptocurrency, GRASS stands out with its eco-friendly blockchain technology. It's a great choice for investors seeking sustainable investments.
Aureal One: This cryptocurrency is making waves in the NFT market with its seamless integration and smart contract capabilities. It's a promising option for those interested in NFTs.
Goatseus Maximus (GOAT): With a strong community-driven approach, GOAT offers staking rewards and active user engagement. It's a potential high-yield investment in the DeFi space.
Neiro (NEIRO): This cryptocurrency leverages AI technology to provide advanced security and a user-friendly trading platform. It's an attractive option for investors looking for innovative and secure cryptocurrencies. #grass #GOAT #neirocrypto $NEIRO
#BlackRock, a major investment firm, has seen a significant increase in investments in its Ether ETF. This comes as the price of Ether, the cryptocurrency powering the
Ethereum network, has risen to its highest point in several months.
The increased interest in Ether ETFs could be linked to recent news about the US presidential election and the potential impact on cryptocurrency markets.
While Bitcoin has seen some recent price stability, Ether has continued to rise, leading to increased investor attention. #BlackRock #ETHETFS #etherreum $ETH $BTC
Lido DAO Surges on Positive Market Sentiment and Whale Accumulation Lido DAO (LDO) is experiencing a significant price increase, rising 33% in the past 24 hours to trade at $1.40. This bullish momentum coincides with a broader positive sentiment in the cryptocurrency market. Key Drivers: * Market Optimism: The recent rise in Bitcoin's price, reaching a new high above $75,000, is seen as a contributing factor to LDO's gains. * Whale Accumulation: On-chain data reveals a surge in whale activity around LDO, with large holder net inflows reaching their highest level since May 2023. This suggests strong whale interest and accumulation. * Potential FOMO: With a significant portion of LDO's supply held by whales, their buying activity could trigger fear of missing out (FOMO) among other investors, further fueling the price rise. Market Volatility: It's important to note that LDO remains significantly down from its all-time high of $18.6 in November 2021. Additionally, the high whale concentration and potential FOMO could lead to increased price volatility in the future. Overall, Lido DAO is experiencing a positive surge driven by market optimism and whale accumulation. However, investors should be cautious of potential volatility due to the market dynamics. #LidoDAO #LDO #LiquidStaking #EthereumPower $LDO
TikTok Accused of Unlicensed Crypto Exchange Activities in the UK
TikTok, the popular social media platform, is facing allegations of operating as an unlicensed cryptocurrency exchange in the United Kingdom. A former compliance consultant for a major private bank has sent a letter to the Financial Conduct Authority (FCA) outlining these concerns.
The letter claims that TikTok's reward system, which allows users to purchase virtual coins and send them to content creators, can indirectly be used to exchange these coins for real money. This, according to the consultant, makes TikTok a de facto cryptocurrency exchange.
The concern is that TikTok is not registered with the FCA as a money service business. This means it may be vulnerable to being exploited for money laundering and other illicit activities.
While the letter specifically mentions TikTok's reward system, it's unclear if the virtual coins used in this system are actually considered cryptocurrencies. The report from Financial News only refers to them as "virtual coins" or "virtual tokens."
TikTok has faced similar allegations in other jurisdictions. Australia's Shadow Minister James Paterson has referred the platform to the country's AML authority, and the state of Utah is suing TikTok over alleged money laundering and facilitation of child sexual exploitation.
#moonbix Binance Moonbix: A New Play-to-Earn Game with a Twist Binance, the world's largest cryptocurrency exchange by trading volume, has entered the play-to-earn (P2E) space with its new Telegram mini-game, Moonbix. Unlike traditional tap-to-earn games, Moonbix offers a unique space exploration theme, combining casual gameplay with the potential to earn cryptocurrency rewards. Key Points About Moonbix: * Rapid Growth: Moonbix has quickly gained popularity, attracting nearly 15 million players within a week of its launch. This surge in interest suggests a strong demand for engaging P2E games on Telegram. * Vietnamese Dominance: Vietnamese players have taken the lead in Moonbix, dominating the leaderboards. However, achieving high scores requires a combination of skill, strategy, and often, external assistance. * Cheating Concerns: Like many P2E games, Moonbix has faced issues with cheating. Some players have resorted to using tools to automate gameplay or buy bulk accounts to gain an unfair advantage. * Global Appeal: Moonbix has captured the attention of players worldwide, with Ethiopia leading in Google search interest. This suggests a broad appeal for the game's unique combination of space exploration and crypto rewards. * Binance User Acquisition: By requiring players to complete KYC verification, Moonbix is helping Binance attract new users to its platform. The Future of Moonbix: While Moonbix has shown early promise, its long-term success will depend on factors such as ongoing player engagement, the sustainability of its reward system, and the broader health of the P2E and Telegram ecosystems. As the game continues to evolve, it will be interesting to see how it compares to other popular tap-to-earn games and its impact on the broader cryptocurrency landscape. #MoonbixRewards #MoonbixBinanceAirdrop
A new documentary by HBO claims that Peter Todd, a Canadian programmer involved with Bitcoin since 2010, is the real Satoshi Nakamoto, the anonymous creator of Bitcoin. However, Todd denies this claim.
The documentary has sparked a lot of debate online. Bitcoin is a digital currency that has been around since 2008. It is a decentralized currency, meaning it is not controlled by any government or bank. Bitcoin has become a very valuable asset, with a current price of around $60,767.
Theory: "The Cryptographic Cartographer" Satoshi Nakamoto is actually Dr. Shigeo Tsujii, a Japanese mathematician and cryptographer who worked for the National Institute of Information and Communications Technology (NICT) in Tokyo. Background: Dr. Tsujii, born in 1957, was a renowned expert in number theory and cryptography. He published numerous papers on cryptographic protocols and was a key contributor to Japan's cryptographic standards. Connection to Cryptography: In the 1990s, Dr. Tsujii wo
"TON Network Experiences Outage Amidst Surge in Trading Activity
The Telegram Open Network (TON) has come to a standstill, with no new blocks being produced for over three hours. This sudden outage follows a frenzy of trading activity centered around a new memecoin called DOGS.
The network's inability to produce new blocks has raised concerns, and the TON team has yet to comment on the issue. The outage occurs after DOGS memecoin witnessed a massive trading volume of $1.7 billion within its first ten hours of launch, reaching a peak market capitalization of $891 million.
The unexpected surge in trading activity is believed to have contributed to the network's outage, leaving users wondering when the issue will be resolved."
The Artificial Superintelligence Alliance (FET) has been on a roll, outshining top cryptos like Bitcoin, Solana, and TRON over the last week! Its price has skyrocketed by over 70% in just 7 days.
What's behind this surge? (link unavailable) is launching an innovative lab in San Francisco, dedicated to pushing the boundaries of AI technology. This lab will be a hub for early-stage startups developing AI solutions, and it's generating huge excitement!
After a brief dip, FET is back on track, posting the biggest gains among top AI cryptos. In fact, it's up by over 6% in the last 30 days, while others like Near Protocol and Internet Computer have seen a decline.
And the momentum continues - FET added another 7% gain in the last 24 hours! While others may be experiencing a slump, FET is trading strong. Keep an eye on this rising star!" #Fetch_ai #FET.智能策略库🏆🏆 #FET❤️ #Fetupdate #UptrendOpportunity $FET $RENDER $FET
"Crypto Market in Free Fall: $400 Billion Wiped Out in Hours
The cryptocurrency market is experiencing a brutal sell-off, with a staggering 18.1% drop in the last few hours, resulting in over $400 billion in losses. The carnage has intensified during Asian trading hours, with Japan's Nikkei index plummeting 13% on Monday, August 5, extending its losses to over 20% since its July peak.
According to Coinglass data, crypto market liquidations have surged to $1 billion in the past 24 hours, with $900 million in long liquidations and $106 million in short liquidations, mostly occurring in the last 4 hours.
Bitcoin's price has plummeted over 15%, breaking below $50,500, while altcoins have suffered even deeper corrections, with Ethereum down 20% and other top altcoins losing between 15-20%.
Investors are reeling as the market bleeds, with no clear end in sight to the chaos. Will the crypto market stabilize, or is this just the beginning of a prolonged downturn?" #BTC_MarketPanic_Dip #JapanEconomy #FreeFall #JapanCrypto
"Bitcoin Price Plunges Below $60,000 Amid Fears of US Recession
The price of bitcoin (BTC) dropped below $60,000 on Saturday, fueled by growing concerns that the US economy is heading towards a recession. This comes after a disappointing US jobs report on Friday, which showed only 114,000 jobs added in July 2024 - significantly lower than the expected 175,000.
The unemployment rate also unexpectedly rose to 4.3%, its highest level since October 2021. These worrying economic indicators have sparked fears that the US economy is weaker than previously thought, despite the Federal Reserve's decision to maintain interest rates at 5.25%-5.5%.
Fed Chair Jerome Powell hinted at a possible rate cut in September if economic conditions improve, but economists remain skeptical. The recent crypto market volatility, including major transfers by crypto lender Genesis, has added to the uncertainty.
As the economic slowdown continues, investors are becoming increasingly cautious, leading to a decline in bitcoin's price. Will the US economy bounce back, or is a recession looming?" $BTC $ETH $BNB #btccrash #US_Job_Market_Slowdown #CryptoNewss #FearNGreed