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My First Loss in the Crypto Space
It all happened when I participated in the Catly Ponzi scheme.
Last year, a friend introduced me to the crypto project "Catly." To earn Catly tokens, you stake your initial sign up bonus, and after a specific period, your staked Catly tokens yield additional tokens, creating a continuous cycle.
When he first told me about it, he had about $17 in his account so when I showed interest, he offered to sell his account to me. Since he already had a some referrals, I bought his account.
Actively involved in the Catly crypto project, I consistently staked and earned rewards, increasing my token holdings. To boost my earning rate, I spent $47 on additional tokens, totaling $64. Enjoying substantial earnings, I withdrew $23, leading to a daily earning rate exceeding $2.
later on my friend who referred me warned me that it resembled a Ponzi scheme suggesting that I unstake and withdraw all my funds but I refused.
When it finally happened, I lost everything, over $100 😔 . They disabled withdrawals saying that they were moving to the next phase that involved launching their mainnet and crediting our wallets with the Catly tokens stuff like that. That stupid naive version of myself actually believed that. Since then up till now, they have done nothing.
Their site still remains functional up till now (catly.io) but I can't withdraw my funds. I ignored my friend's warning and ended up losing everything, only managing to withdraw twice, which didn't cover my initial investment.
I learnt the hard way from this experience. There are many legit crypto projects you can earn from like some airdrop - an example Ice. But a definite red flag is when you're asked to invest real funds to participate or increase your earnings just like in Catly.
And also before you take part in any investment scheme not just crypto related, make thorough investigation and research to avoid losing your funds. This loss made me a new man 😊. Damn!
Don't forget to like, share and follow.
Good morning from Nigeria.
#ozuru
It all happened when I participated in the Catly Ponzi scheme.
Last year, a friend introduced me to the crypto project "Catly." To earn Catly tokens, you stake your initial sign up bonus, and after a specific period, your staked Catly tokens yield additional tokens, creating a continuous cycle.
When he first told me about it, he had about $17 in his account so when I showed interest, he offered to sell his account to me. Since he already had a some referrals, I bought his account.
Actively involved in the Catly crypto project, I consistently staked and earned rewards, increasing my token holdings. To boost my earning rate, I spent $47 on additional tokens, totaling $64. Enjoying substantial earnings, I withdrew $23, leading to a daily earning rate exceeding $2.
later on my friend who referred me warned me that it resembled a Ponzi scheme suggesting that I unstake and withdraw all my funds but I refused.
When it finally happened, I lost everything, over $100 😔 . They disabled withdrawals saying that they were moving to the next phase that involved launching their mainnet and crediting our wallets with the Catly tokens stuff like that. That stupid naive version of myself actually believed that. Since then up till now, they have done nothing.
Their site still remains functional up till now (catly.io) but I can't withdraw my funds. I ignored my friend's warning and ended up losing everything, only managing to withdraw twice, which didn't cover my initial investment.
I learnt the hard way from this experience. There are many legit crypto projects you can earn from like some airdrop - an example Ice. But a definite red flag is when you're asked to invest real funds to participate or increase your earnings just like in Catly.
And also before you take part in any investment scheme not just crypto related, make thorough investigation and research to avoid losing your funds. This loss made me a new man 😊. Damn!
Don't forget to like, share and follow.
Good morning from Nigeria.
#ozuru
Since June this year, Bitcoin miners have been selling off massive amounts of their holdings, up to the tune of 50,000 $BTC worth about $2 billion.
This has led to a 14-year low in the amount of Bitcoins held by miners.
This is part of the reason why the price of Bitcoin has been on a steady decline.
#ozuru #BTC☀ #Bitcoin❗
This has led to a 14-year low in the amount of Bitcoins held by miners.
This is part of the reason why the price of Bitcoin has been on a steady decline.
#ozuru #BTC☀ #Bitcoin❗
The reason why the price of $BTC has been on a steady decline lately is due to the fact that miners have sold a very large portion of their bitcoins.
Additionally, the German government has transferred a massive amount of bitcoins to exchanges (approximately three thousand BTCs).
As the price of bitcoin continued to decline, traders became bearish on BTC. According to CoinDesk, $150 million worth of bullish bets has been liquidated.
#ozuru #Bitcoin❗
Additionally, the German government has transferred a massive amount of bitcoins to exchanges (approximately three thousand BTCs).
As the price of bitcoin continued to decline, traders became bearish on BTC. According to CoinDesk, $150 million worth of bullish bets has been liquidated.
#ozuru #Bitcoin❗
Pac Finance users experienced a shock on Thursday when an unexpected code modification led to massive financial losses, highlighting the risks of alterable software on DeFi platforms.
In the early hours of April 11, at approximately 1 am London time, an individual with entry to the admin wallet of Pac Finance initiated a code update. This action reduced the collateral liquidation threshold for the protocol.
This adjustment instantly resulted in the liquidation of collateral for numerous traders employing Pac Finance for leverage farming with Renzo’s ezETH token, culminating in losses totaling $26 million.
Source: dlnews.com
#ozuru
In the early hours of April 11, at approximately 1 am London time, an individual with entry to the admin wallet of Pac Finance initiated a code update. This action reduced the collateral liquidation threshold for the protocol.
This adjustment instantly resulted in the liquidation of collateral for numerous traders employing Pac Finance for leverage farming with Renzo’s ezETH token, culminating in losses totaling $26 million.
Source: dlnews.com
#ozuru
Arkham’s analysis reveals a significant shift in global finance as major governments, including the U.S., U.K., and Germany, accumulate substantial Bitcoin holdings.
The U.S. leads with 212,847 BTC valued at $15 billion, followed by the U.K. with 61,245 BTC and Germany with 49,858 BTC.
This trend reflects the increasing integration of cryptocurrencies into national economies and raises important questions about future financial regulations and the balance of geopolitical power.
Source: cryptocrunchnews
#ozuru
The U.S. leads with 212,847 BTC valued at $15 billion, followed by the U.K. with 61,245 BTC and Germany with 49,858 BTC.
This trend reflects the increasing integration of cryptocurrencies into national economies and raises important questions about future financial regulations and the balance of geopolitical power.
Source: cryptocrunchnews
#ozuru
During Q1 of 2024, the crypto market experienced a significant surge, with total trading volumes reaching an unprecedented $5.3 trillion.
The lion’s share of this volume was attributed to centralized exchanges (CEX), which saw trades amounting to $4.8 trillion, while decentralized exchanges (DEX) contributed a substantial $523 billion.
Comparing quarter-over-quarter growth, CEXs witnessed a 96% increase, whereas DEXs enjoyed a 76.5% rise in trading volumes.
The month of March stood out as the peak for trading, with CEXs and DEXs recording $2.5 trillion and $264.3 billion respectively. On a year-over-year basis, DEXs outpaced CEXs slightly in growth, with an 82.5% rise compared to an 81% increase for CEXs.
Binance solidified its dominance in the CEX arena, capturing nearly 5% more market share and facilitating over $2 trillion in trades, which accounted for 43.4% of the total CEX volume. Uniswap maintained its lead in the DEX space, securing 31% of the total DEX volume.
Despite these impressive figures, the ratio of DEX to CEX volumes saw a slight decrease, dropping from 12.1% in the last quarter of 2023 to 10.9% in the first quarter of 2024.
Source: cryptobriefing.com
#ozuru
The lion’s share of this volume was attributed to centralized exchanges (CEX), which saw trades amounting to $4.8 trillion, while decentralized exchanges (DEX) contributed a substantial $523 billion.
Comparing quarter-over-quarter growth, CEXs witnessed a 96% increase, whereas DEXs enjoyed a 76.5% rise in trading volumes.
The month of March stood out as the peak for trading, with CEXs and DEXs recording $2.5 trillion and $264.3 billion respectively. On a year-over-year basis, DEXs outpaced CEXs slightly in growth, with an 82.5% rise compared to an 81% increase for CEXs.
Binance solidified its dominance in the CEX arena, capturing nearly 5% more market share and facilitating over $2 trillion in trades, which accounted for 43.4% of the total CEX volume. Uniswap maintained its lead in the DEX space, securing 31% of the total DEX volume.
Despite these impressive figures, the ratio of DEX to CEX volumes saw a slight decrease, dropping from 12.1% in the last quarter of 2023 to 10.9% in the first quarter of 2024.
Source: cryptobriefing.com
#ozuru
Uniswap Labs, a major player in decentralized finance, has received a Wells Notice from the US Securities and Exchange Commission (SEC), indicating potential enforcement action for securities regulation violations.
A Wells Notice is a formal warning which the SEC sends to a company prior to launching a formal lawsuit and which provides it a final opportunity to rebut any allegations.
The company has expressed its readiness to contest any lawsuit.
This situation mirrors that of Coinbase, which received a similar notice last year and is currently engaged in an ongoing legal battle with the SEC after being charged with operating as an unregistered securities exchange.
What are your thoughts on the legal battles between SEC and the major players in the crypto sector?
#ozuru
A Wells Notice is a formal warning which the SEC sends to a company prior to launching a formal lawsuit and which provides it a final opportunity to rebut any allegations.
The company has expressed its readiness to contest any lawsuit.
This situation mirrors that of Coinbase, which received a similar notice last year and is currently engaged in an ongoing legal battle with the SEC after being charged with operating as an unregistered securities exchange.
What are your thoughts on the legal battles between SEC and the major players in the crypto sector?
#ozuru
📢 Top 10 Crypto News Highlights in the Last 24 Hours! ⚡️
1️⃣ 💰 Bitcoin funding rates stay cool while BTC price coils between $69-71K.
2️⃣ 💰 GBTC fees will drop when Bitcoin ETFs ‘start to mature’ — Grayscale CEO.
3️⃣ 💰 Binance records a $1.15T spot volume, 7X Bigger than Coinbase figures.
4️⃣ ⚖️ Montenegro court approves Kwon Do-hyeong's extradition, but the final decision rests with the Justice Minister.
5️⃣ 💰 Circle partners with BlackRock to enable USDC transfers for their new Tokenized Fund.
6️⃣ 🇦🇪 Dubai regulator proposes a reduction in regulatory costs for smaller firms.
7️⃣ 🇸🇻 Bitfinex issues tokenized debt for El Salvador’s first hotel funded via blockchain.
8️⃣ 🇳🇬 Nigeria’s government is blaming Binance for its own mismanagement.
9️⃣ 💰 Sam Bankman-Fried asks to stay in Brooklyn prison for appeal.
🔟 🇹🇭 Thailand bans P2P crypto transactions for security reasons.
News credits goes to EvanLuthraVIP and cryptothedoggy.
#ozuru
1️⃣ 💰 Bitcoin funding rates stay cool while BTC price coils between $69-71K.
2️⃣ 💰 GBTC fees will drop when Bitcoin ETFs ‘start to mature’ — Grayscale CEO.
3️⃣ 💰 Binance records a $1.15T spot volume, 7X Bigger than Coinbase figures.
4️⃣ ⚖️ Montenegro court approves Kwon Do-hyeong's extradition, but the final decision rests with the Justice Minister.
5️⃣ 💰 Circle partners with BlackRock to enable USDC transfers for their new Tokenized Fund.
6️⃣ 🇦🇪 Dubai regulator proposes a reduction in regulatory costs for smaller firms.
7️⃣ 🇸🇻 Bitfinex issues tokenized debt for El Salvador’s first hotel funded via blockchain.
8️⃣ 🇳🇬 Nigeria’s government is blaming Binance for its own mismanagement.
9️⃣ 💰 Sam Bankman-Fried asks to stay in Brooklyn prison for appeal.
🔟 🇹🇭 Thailand bans P2P crypto transactions for security reasons.
News credits goes to EvanLuthraVIP and cryptothedoggy.
#ozuru
Initially scheduled for May 1, the sentencing of Ryan Salame, former co-chief executive of FTX Digital Markets, has been deferred to May 28, 2024, in front of Judge Lewis Kaplan.
Remember that FTX Digital Market which was a subsidiary of the FTX cryptocurrency exchange was involved in the collapse of FTX. Its former CEO, Sam Bank-Fried was sentenced to almost 25 years in jail.
As of September 2023, Salame conceded to allegations of operating an money transmitting service without the necessary licensing, as well as making illicit political contributions.
What do you think about Salame's sentencing?
Source --> news.bitcoin.com
#ozuru
Remember that FTX Digital Market which was a subsidiary of the FTX cryptocurrency exchange was involved in the collapse of FTX. Its former CEO, Sam Bank-Fried was sentenced to almost 25 years in jail.
As of September 2023, Salame conceded to allegations of operating an money transmitting service without the necessary licensing, as well as making illicit political contributions.
What do you think about Salame's sentencing?
Source --> news.bitcoin.com
#ozuru
A recent Policygenius survey reveals that Generation Z prefers investing in cryptocurrencies over traditional stocks, highlighting a significant change in the investment trends of young Americans.
Cryptocurrency has become the preferred asset class for this demographic.
SOURCE: CryptoCrunchNews
#ozuru
Cryptocurrency has become the preferred asset class for this demographic.
SOURCE: CryptoCrunchNews
#ozuru
Dogecoin aimed for a new yearly high, reaching $0.224 on March 31.
The surge sparked hope for a repeat of its 2021 peak at $0.73.
A sell wall above $0.20 presents hurdles, despite the token’s ambition for growth.
Dogecoin has faced rejection at this range thrice in the last month but continues to pursue gains.
$DOGE #ozuru
The surge sparked hope for a repeat of its 2021 peak at $0.73.
A sell wall above $0.20 presents hurdles, despite the token’s ambition for growth.
Dogecoin has faced rejection at this range thrice in the last month but continues to pursue gains.
$DOGE #ozuru
Dogecoin has achieved a notable milestone by exceeding 6 million addresses.
Data from IntoTheBlock indicate that there are now approximately 6.27 million Dogecoin ($DOGE ) addresses.
This signifies significant growth in the popularity of the meme coin and indicates the surging interest of investors in the asset, as well as its expanding adoption as a legitimate digital asset.
This achieved milestone suggests a promising future for the meme coin.
#ozuru #Dogecoin #HotTrends
Data from IntoTheBlock indicate that there are now approximately 6.27 million Dogecoin ($DOGE ) addresses.
This signifies significant growth in the popularity of the meme coin and indicates the surging interest of investors in the asset, as well as its expanding adoption as a legitimate digital asset.
This achieved milestone suggests a promising future for the meme coin.
#ozuru #Dogecoin #HotTrends
I have a trading strategy that can enable you to make almost certain trade predictions.
You all may have noticed that most times, when a cryptocurrency surges in price, eventually the bears take profit and the price goes down.
So my strategy is this: when you notice a cryptocurrency that has pumped or is overbought, go short on it because it will most likely dump.
If you're doing this, ensure you use a high enough stop loss because sometimes when a coin skyrockets in price, many people tend to buy due to FOMO (Fear Of Missing Out).
This is akin to how the RSI (Relative Strength Index) indicator is used to trade reversals.
You can find these kind of coins in the Binance's gainers section.
Presently, $REI has experience a 24hrs surge of about 130%.
If this post was helpful, please drop a like and share.
Disclaimer: THIS IS NOT FINANCIAL ADVICE!
#ozuru #HotTrends
You all may have noticed that most times, when a cryptocurrency surges in price, eventually the bears take profit and the price goes down.
So my strategy is this: when you notice a cryptocurrency that has pumped or is overbought, go short on it because it will most likely dump.
If you're doing this, ensure you use a high enough stop loss because sometimes when a coin skyrockets in price, many people tend to buy due to FOMO (Fear Of Missing Out).
This is akin to how the RSI (Relative Strength Index) indicator is used to trade reversals.
You can find these kind of coins in the Binance's gainers section.
Presently, $REI has experience a 24hrs surge of about 130%.
If this post was helpful, please drop a like and share.
Disclaimer: THIS IS NOT FINANCIAL ADVICE!
#ozuru #HotTrends
My conversation with GPT-4
Me: How can I make money in the crypto space?
GPT-4: Here are some of the most common methods:
1. Buying & HODLing
2. Crypto Airdrops
3. Staking Cryptocurrencies
4. Trading
5. Crypto Lending
6. Play-to-Earn Games
7. Mining
8. Microtasks or Freelancing for Cryptocurrency
Source: Conversation with Bing, 25/03/2024
-----------------
So do you guys see that? CRYPTO AIRDROP is literally among the list. I don't know why many persons don't take airdrops seriously.
You remember that airdrop named Coinlive which I talked about in one of my post ? Guess what? They will be launching 31st of this month.
So if you're involved, take it more seriously and ensure you convert your CLX to XR genesis points because that determines your reward not the CLX tokens.
If you're not involved, don't bother because it already late. As such I won't post any link for Coinlive. Having more referrals will be beneficial to me but at this point it won't be to you. I don't just farm referrals.
But one thing u should know is that in the crypto space there are millions of opportunities so if you missed out on Coinlive, that's not the end.
For future airdrop updates, enter this link in your browser, [https://t.me/ozuru_crypto] and follow through.
#ozuru #HotTrends #Airdrops
Me: How can I make money in the crypto space?
GPT-4: Here are some of the most common methods:
1. Buying & HODLing
2. Crypto Airdrops
3. Staking Cryptocurrencies
4. Trading
5. Crypto Lending
6. Play-to-Earn Games
7. Mining
8. Microtasks or Freelancing for Cryptocurrency
Source: Conversation with Bing, 25/03/2024
-----------------
So do you guys see that? CRYPTO AIRDROP is literally among the list. I don't know why many persons don't take airdrops seriously.
You remember that airdrop named Coinlive which I talked about in one of my post ? Guess what? They will be launching 31st of this month.
So if you're involved, take it more seriously and ensure you convert your CLX to XR genesis points because that determines your reward not the CLX tokens.
If you're not involved, don't bother because it already late. As such I won't post any link for Coinlive. Having more referrals will be beneficial to me but at this point it won't be to you. I don't just farm referrals.
But one thing u should know is that in the crypto space there are millions of opportunities so if you missed out on Coinlive, that's not the end.
For future airdrop updates, enter this link in your browser, [https://t.me/ozuru_crypto] and follow through.
#ozuru #HotTrends #Airdrops
