Forwarded from Crypto Daku
in the past month alone, the number of Grayscale daily purchases of Bitcoin is about 720. It also acquired 80% of Bitcoin mined in the same period (after the halving on May 11, miners can mine about 900 BTC per day).
Forwarded from Revolution Crypto
Deribit Option Q2 expiry (8AM UTC)
BTC June 26th OI: 73,634 contracts worth $675.3 million
ETH June 26th OI: 308,635 contract worth $71.4 million
BTC June 26th OI: 73,634 contracts worth $675.3 million
ETH June 26th OI: 308,635 contract worth $71.4 million
Forwarded from Jlabs Digital
Cornering the market. It’s a sure way to set price. For crypto, it means being able to create a frenzy around the remaining supply of a token.
To do this requires deep pockets and a bit of knowledge on the psychology of markets. A current example of this is LINK.
Over 75% of LINK is held by the top 1% of holders. Traders with deep pockets are accumulating as much as they can. In doing so, they are driving up price and creating scarcity on the available supply. We can see this when looking at the available amount of LINK on exchanges.
Take a look at the chart. It shows supply available on exchanges. It’s been cut in half since the start of 2019 as seen in the yellow line. It’s a trend that will likely continue.
As the trend continues it’ll produce two likely outcomes. First, An incredible rise in price thanks to a FOMO mentality on remaining LINK. The second is an incredible collapse in price once the top 1% decide to start taking profit.
If you are a LINK holder, enjoy the ride as it happens.
To do this requires deep pockets and a bit of knowledge on the psychology of markets. A current example of this is LINK.
Over 75% of LINK is held by the top 1% of holders. Traders with deep pockets are accumulating as much as they can. In doing so, they are driving up price and creating scarcity on the available supply. We can see this when looking at the available amount of LINK on exchanges.
Take a look at the chart. It shows supply available on exchanges. It’s been cut in half since the start of 2019 as seen in the yellow line. It’s a trend that will likely continue.
As the trend continues it’ll produce two likely outcomes. First, An incredible rise in price thanks to a FOMO mentality on remaining LINK. The second is an incredible collapse in price once the top 1% decide to start taking profit.
If you are a LINK holder, enjoy the ride as it happens.