OPNX partners with 3AC Ventures 😑

With a revival of the market, some individuals are trying to go back to the good old days and gain people's trust.

Reminder: 3AC is a collapsed crypto venture capital fund co-founded by Zhu Su and Kyle Davies, who are arguable criminals and are hated by the crypto community. They borrowed from more than 20 entities and literally gambled away all the money by making risky bets 🎰

Then, after 3AC imploded, they launched OPNX, a crypto exchange that tries to tokenize crypto bankruptcy claims. The exchange has insanely low real trading volume and no users. There are also high levels of wash trading to create the appearance of some activity.

With this partnership announcement, they literally say that one entity partners with another while both of them are controlled by the same people 🫤

Don't trust 3AC and OPNX, it's better to stay away from people who have no remorse after wiping out billions in capital funds while hiding from law enforcement in some island countries 🙅‍♀️

Never buy such coins 🚫

Three words: Emission, Capitalization, Supply.

◼️ Emission is a process by which new tokens are created and released into circulation. This process can occur in several ways, including mining, staking, and airdrops.

◼️ Capitalization is the monetary value of a token multiplied by its circulating supply.
Price x Circ. Supply = Market Cap

◼️ Supply is the total number of tokens. There are two types:

• Circulating supply is the number of liquid tokens that can be sold.

• Total supply is the number of tokens that can be created.

🙅‍♀️ You should never buy tokens with:

1. High emissions

2. Low circulating supply

3. High total supply

LDO is an example. The token was launched in Jan 2021 with a market cap of $5 million. The price back then was $1.75

Now the market cap is $1.7 billion — it went up by 340 x. The current price is $1.91 — it went up by 9.14%

❗️ Avoid such coins, or you will be an exit liquidity for VCs. Always look at tokenomics before buying anything

#crypto_tips

Hmm... This is an interesting pattern. Imagine if everything will happen just like that, and we will have a new real bull market with a beginning around the time of Bitcoin halving in 2024 🤔

What do you guys think?

✅ Bitcoin continues to show strength; the next target for the bulls will be a 31k breakout, while for bears. it's very important to make sure that a 30k support level will not hold up 🙃

Day summary:

🔸 It looks like Elon Musk and Mark Zuckerberg will have a cage fight in Las Vegas over who is the king of social media 🥊

🔸 Valkyrie Digital made an application for spot Bitcoin ETF

🔸 Web3 games Gods Unchained will be available in the Epic Games store

🔸 OPNX partered with 3AC VC fund 🤢

🔸 Ripple obtained In-Principle Approval for a Major Payments Institution License in Singapore

🔸 Bank of England raised the interest rate by 0.5%; it's currently at a 5% level

🔸 Oh no... TUSD minting and redemption are halted (Binance is using TUSD instead of BUSD, looks like it`s more about Binance than TrueUSD) 😨

🔹 Prices:

🌐 Bitcoin - $30,182 (↑0.29%)
⚙️ Ethereum - $1,887 (↑0.24%)
📈 S&P 500 - 4,381 (↑0.37%)
💲 DXY - 102.42 (↑0.34%)
🌕 Gold - 1,924 (↓1.06%)

It do be like that sometimes 😄

The market is calming down after the big rally; some coins have had a minor pullback, but we continue to hold the key 30k level. There is a bull flag pattern on BTC currently, so bulls might try to do something nasty again this week 🐮

The US House has passed a resolution to impeach Joe Biden. The resolution sent impeachment to committees for possible consideration, like any other bill 🤔

It looks like Binance US have worked out with banking partners to resolve delayed USD withdrawal requests, but Binance US is still asking users to convert all their USD into crypto or withdraw it 🫡

🔹 Last 24 hours top 3 gainers:

Pepe - $0 (↑11.86%)
Bitcoin SV - $31.08 (↑8.36%)
Kaspa - $0.027 (↑8.54%)

#GM

There probably won't be a cage fight between Elon and Mark; Musk's mom announced that it has been canceled.

Eh, it could have been such a show 🥲

⚡️ The US Supreme Court ruled in favor of Coinbase, allowing the company to halt court proceedings and move customer litigation into arbitration.

Basically, they favored Coinbase and made it easier for them to get desired result outside of court

💰 Where to store your crypto

If you care about security and decentralization you should store your crypto in hot and cold wallets.

▪️ Hot wallets are internet-enabled and online. Can be a mobile app or an internet browser extension.

▪️ Cold wallets are offline and come in the form of a physical device, they are more secure and if you have more than $10k in crypto you should definitely think about using a cold wallet.

🔥 Hot wallets:

All of them are available as web browser extensions, apps for Android and IOS

🔸 Metamask. Supports Ethereum-compatible blockchains.

🔸 Trust Wallet. Supports almost every popular blockchain. Perfect hot wallet to store BTC/ETH/SOL...

🔸 Coinbase Wallet. A decentralized wallet that supports Bitcoin, Solana, Litecoin, and Dogecoin blockchains.

🔸 Phantom. The best wallet for Solana blockchain.

🔸 Keplr. The best wallet for IBC blockchains like Cosmos, Osmosis...

❄️ Cold wallets:

All of them support such blockchains as Ethereum, Bitcoin, Litecoin, Solana, etc.

🔹 Ledger. The most popular cold wallet. Works with Windows, Mac, Linux, iOS, and Android.

🔹 SafePal. Uses QR-code technology.

🔹 Trezor. Open-source design.

All of the mentioned wallets can never be banned and your funds cannot be seized, they are fully decentralized and permissionless.

📌 Save this list for later, so you don't forget where to send your crypto when another centralized exchange is under attack

#crypto_tips

Bitcoin brakes $31400 — April highs 🚀

🇧🇪 Binance kicked out of another country

The Financial Services and Markets Authority orders Binance to cease immediately all offers of virtual currency services in Belgium 😬

The crypto exchange is accused of serving Belgian customers from countries outside the European Economic Area in violation of the law.

It looks like from now on, Binance is not welcome in one more state. Not good, not good...

☑️ SEC approves Bitcoin futures ETF

Good news for bulls: the US Securities and Exchange Commission has approved Volatility Shares' ETF. It is primed to go live the next week on Tuesday 👌

• Unlike BlackRock's Bitcoin Spot ETF, this one is 2x leveraged futures ETF instead.

• It allows customers to gain Bitcoin exposure by only putting up half the value of the BTC.

• The price of ETF will correspond with the CME Bitcoin Futures Daily Roll Index.

✅ Bitcoin broke out through 2023 April highs, reaching a price of $31.4k, bulls don't let the bears rest even for a second 🫡

Day summary:

🔸 The US Supreme Court ruled in favor of Coinbase, allowing the company to halt court proceedings and move customer litigation into arbitration (outside of court) 🥳

🔸 The US House has passed a resolution to impeach Joe Biden

🔸 Binance US has worked out with banking partners delayed USD withdrawal problems

🔸 Fight between Elon Musk and Mark Zuckerberg has been canceled ☹️

🔸 FTX has filed a lawsuit against some of the investment firms it had ties to before its collapse. FTX seeks over $700 million from the defendants

🔸 The Financial Services and Markets Authority of Belgium ordered Binance to cease all crypto services 🇧🇪

🔸 US SEC has approved Volatility Shares' leverage futures Bitcoin ETF

🔹 Prices:

🌐 Bitcoin - $30,924 (↑2.77%)
⚙️ Ethereum - $1,911 (↑1.27%)
📈 S&P 500 - 4,347 (↓0.79%)
💲 DXY - 102.91(↑0.51%)
🌕 Gold - 1,931 (↑0.39%)

Visualization of the market over the last week 😆

⚖️ Biggest market maker is accused of wash trading

Wintermute Trading, one of the biggest crypto market makers, was accused in a proposed class-action lawsuit of helping the former CEO of Celsius Network who duped his investors.

💁‍♀️ A "market maker" is someone who participates in the market at all times, buying from sellers and selling to buyers. Market makers provide liquidity, which ensures investors can trade quickly and at a fair price in all conditions.

According to the lawsuit, Wintermute engaged in inflating the $CEL token price by wash trading — which creates the illusion that an asset is trading far more often than it is.

Artificially inflated CEL prices and fake trading volume were created by Wintermute to deceive investors, lawyers said in the suit 🤔

🤡 Corruption and JPMorgan Chase

JPMorgan mistakenly deleted 47 million emails and was charged $4 million in fines for doing so. Here is a short explanation to show how absurd this is:

🤵‍♂️ Imagine that you are one of the executives of the most powerful and influential financial services company in the world — JPMorgan Chase & Co.

🤐 You have many skeletons in the closet, and some of the dark stories are related to connections with Jeffrey Epstein, the famous pedophile sex trafficking criminal.

👮 You have received many subpoenas and requests for classified information from courts. And in order to hide the dangerous information, you decide to mistakenly delete 47 MILLION emails, many of which the regulator was trying to access with multiple probes.

🤦‍♀️ Funny part: for doing so, you are being charged with only a $4 million fine, while your CEO makes $35 million a YEAR, and the investment banking unit of JPMorgan Chase & Co. has over $33 TRILLION in assets under custody.

Puts some things into perspective, right?

🧠 One simple rule for becoming profitable

In this post, you will learn just one very simple rule that you need to follow in order to increase your chances of not losing money and maybe even making some.

Notice that the rhetoric used here is the opposite of what you usually hear: "You will be a winner in this market", "We are going to make it", etc. All these optimistic messages are lies and manipulations.

😕 It's a fact that in the end majority will lose, and in order to increase your chances of surviving, you need to follow one rule: stop trading if you're out of shape or not ready yet.

It sounds ridiculously simple, and by itself, this rule is useless for most people because no one really knows what "out of shape" means for them, and nobody can tell if they're "ready".

That's why you need to remember this list of popular signs. Let's call them "red flags":

🚩 You don't have a strategy.

🚩 You don't have discipline while trading.

🚩 You do not have basic technical analysis knowledge for market interpretation.

🚩 You are too emotional and can't control your psychological state.

🚩 You don't know how to accept losses.

🚩 You are very impatient.

🚩 You can't make your own decisions and are seeking someone else's approval for your trades.

🚩 You feel the need to monitor your positions or prices nonstop, you are always stressed and worried about losing money.

Ask yourself if any of these red flags are about you. If yes — you should not trade until you get rid of them if you want to be a profitable trader. It's always possible to improve yourself, and it's never too late to learn.

🤥 While trading, you should never lie to yourself. Lying to yourself about being a good trader is fatal because you have no one else besides yourself who can manage risk and make decisions. In trading, it's everyone else against you; remember that.

📌 Save this post for later and check on it whenever you lose money trading

#trading_tips

Bitcoin is close to breaking above the 2-year moving average at $32.8k 😯

What you see on the chart is a 2-year moving average multiplier on a BTC logarithmic chart.

As you can see, historically, when BTC was trading under this moving average line, there was a good accumulation opportunity ahead of the following Bitcoin halving cycle 🤑

The stock market and Bitcoin are now inversely correlated in a good way!

Finally. For a long time, we saw the complete opposite, but after a series of news about plans for a Bitcoin ETF from multiple institutions, crypto started to outperform stocks 😌

✅ This week, a few more traditional finance companies applied for Bitcoin ETFs, and one even got its ETF approved by the SEC. BTC showed insane growth and pumped from 26.3k to 31.4k, leaving bears in tears and many people sidelined 🐂

Weekly crypto digest:

🔸 Crypto payments platform Wyre will shut down due to the financial challenges of the bear market

🔸 Bankrupt lender Celsius will convert all frozen funds into BTC and ETH

🔸 Do Kwon sentenced to 4 months in jail in Montenegro

🔸 TUSD minting and redemption for retail are halted 😑

🔸 EDX Markets exchange was launched while being backed by Citadel Securities, Fidelity Investments, and Charles Schwab

🔸 US SEC has approved Volatility Shares' leveraged futures Bitcoin ETF 😮

🔸 Bitwise, WisdomTree, and Invesco have applied for a Bitcoin ETF

🔸 And another one: Valkyrie Digital Assets applied for a spot Bitcoin ETF

🔸 Chair of the Fed Jerome Powell called stablecoins "a form of money" and said that crypto has "staying power as an asset class"

🔸 Binance launched a regulated digital asset platform in Kazakhstan

🔸 Binance got kicked out of Belgium by the state financial regulator 👉🚪

🔸 Binance US resolved delayed USD withdrawal requests, but users still asked to sell or withdraw USD from the exchange

🔸 Binance Markets Limited in the UK withdrew its request for registration with the Financial Conduct Authority. Now, Binance has no operational approvals for the company in the 🇬🇧

🔸 Wintermute, one of the biggest crypto market makers, was accused of wash trading in the lawsuit against crypto lender Celsius

🔸 The US Supreme Court ruled in favor of Coinbase, allowing the company to halt court proceedings and move customer litigation into arbitration. This is not about the SEC lawsuit 👏

🔹 Prices:

🌐 Bitcoin - $30,429 (↓0.79%)
⚙️ Ethereum - $1,890 (↑0.15%)
📈 S&P 500 - 4,348 (↓0.77%)
💲 DXY - 102.87 (↑0.47%)
🌕 Gold - 1,930 (↑0.34%)

Bitcoin did not fall below 30k and is now trading around 30.4k, after last week's rapid growth, many altcoins are now having a correction 🫠

A list of companies that are interested in buying bankrupt crypto exchange FTX was published. Among them are BlackRock, Ripple, Galaxy, Nasdaq... 😯

Rumors: Ripple is planning to buyback 10 billion XRP tokens, which would be $4.8 billion, and nobody can explain why it would do that 🫤

Binance is viewing the United Arab Emirates as the world’s next major crypto hub and plans to make it a priority for business expansion. All thanks to favorable and transparent regulation 🇦🇪

🔹 Last 24 hours top 3 gainers:

ApeCoin - $2.43 (↑5.98%)
NEAR Protocol - $1.55 (↑7.09%)
Stacks - $0.763 (↑2.21%)

#GM