Upcoming token unlocks in the next month 🔓

Remember this post? Notice the proportion between max supply (blue + gray) and circulating supply (gray).

Now try to analyze which of these coins, in the long run, are likely to increase their market capitalization while remaining at the same level of token price, so retail investors are not scared 🔍

#unlocks

$7.8 billion was paid to crypto pyramid schemes in 2022 😓

Remember this today's post? In 2022, $7.68 billion was invested in metaverse projects. The report published by blockchain intelligence firm TRM Labs says that in the same year, a stunning $7.8 billion was paid to crypto pyramid schemes. More money was sent to scams than invested in the most hyped technology.

👮 Two of the largest crypto Ponzi schemes prosecuted in 2022, were Forsage and Trade Coin Club. In total, in 2022 $9.04 billion in crypto was sent to all types of financial fraud schemes.

Despite the bear market, it appears that there has been no corresponding slowdown in crypto-related crime. People are simply hungry for easy profits, and that's what the scammers are taking advantage of ☹️

✅ Bulls survived another day above 30k, but most alts are red. I would especially recommend paying attention to BNB as it approaches the critical price level of $219 👀

Day summary:

🔸 Failed crypto exchange FTX is in initial discussions with investors about relaunching its international exchange 😲

🔸 TrueUSD stablecoin depegged by 10% on Binance US

🔸 EU officials suspect Binance is faking accounts in Ireland and Malta

🔸 The federal judge denies the motion to dismiss most charges against Sam Bankman-Fried 🔨

🔸 Warner Music Group partners with Polygon to launch a music accelerator program

🔸 Report by TRM Labs says that $7.8 billion was paid to crypto pyramid schemes last year

🔸 MicroStrategy acquires an additional 12,333 bitcoins and now holds 152,333 BTC 👏

🔹 Prices:

🌐 Bitcoin - $30,022 (↓2.13%)
⚙️ Ethereum - $1,829 (↓3.51%)
📈 S&P 500 - 4,369 (↓0.20%)
💲 DXY - 102.9 (↑0.43%)
🌕 Gold - 1,918 (↓0.27%)

The plan is set 😄

FTT shows growth after news about plans to relaunch the FTX exchange 🚀

👴 Joe Biden said: "We’re going to make it fair by eliminating loopholes for crypto traders, hedge fund managers." So much hate towards crypto from democrats recently...

Binance crypto custody license application denied by German regulator BaFin ❌

💶 Binance banking partner for EUR transfers will halt support of the crypto exchange. Paysafe will no longer be providing these services to Binance users from 25th September 2023.

It's almost like not a single day goes by without Binance getting into some kind of trouble

🔹 Last 24 hours top 3 gainers:

Synthetix Network - $2.2 (↑8.56%)
Solana - $17.13 (↑5.92%)
Stacks - $0.71 (↑5.15%)

#GM

MicroStrategy buys —> we dump❓

Among participants in the crypto market, it's common to joke about the curse of Michael Saylor buying and the market going down right after. But do these jokes have something in common with factual data? 🤔

Well, yes, kind of...

Past data shows that since 2020, on average, bitcoin has dropped by 2% on the day MicroStrategy announces new purchases 🥴

So far, BTC hasn't dropped much, but we must be watchful because the average one week price performance after purchase announcements is even grimmer 👀

On-chain liquidations tutorial 🩸

On-chain liquidation happens when lenders who borrow assets are forced to sell their collateral because the value of the borrowed asset became too high compared to the value of the collateral.

📋 A quick guide on how to check key on-chain liquidation levels with the help of Defilama:

◾️ First, we go to the liquidations page on the Defilama website.

◾️ Then we choose the needed asset and, if needed, a specific protocol.

💁‍♀️ Example on the screenshot above:

▪️ As you can see, all potential liquidations for BNB are concentrated in just one lending protocol, Venus.

▪️ The price of the liquidations is also highly concentrated at $219. There are 930,000 BNB tokens that will be liquidated if the BNB market price hits the $219 mark (around $205 million).

▪️ If the price hits $219, Venus will auction off liquidated assets at less than their value, allowing third parties to “bid” on the assets for a quick sale. This race to the bottom will negatively impact the value of BNB.

🔵 Coinbase tries to protect altcoins from the SEC

Coinbase has filed a motion to dismiss the recent lawsuit brought against it by the US SEC.

Coinbase argues that the digital assets in question, including SOL, ADA, MATIC, and others, are not securities and, therefore, do not require SEC registration ❌

Unlike other trading platforms that simply delist the altcoins in question, Coinbase is trying to not only protect itself from the SEC but also protect random crypto from being named securities, good for them 👍

✅ We are still trading around 30–31k; something significant needs to happen for us to move from this point, but for now, relax, the summer market is boring 🥱

Day summary:

🔸 Joe Biden promised to eliminate "loopholes" for crypto traders 🤨

🔸 Now it's official: Fidelity filed for a spot Bitcoin ETF!

🔸 Binance crypto custody license application was denied by the German financial regulator

🔸 Binance banking partner for EUR transfers will halt support of the exchange in September 💶

🔸 Coinbase has filed a motion to dismiss the recent lawsuit brought against it by the US SEC

🔸 Ledger launches a custodial trading network for institutions

🔸 Ubisoft announces their first blockchain game, "Grimoria Chronicles" 🎮

🔹 Prices:

🌐 Bitcoin - $30,632 (↑1.73%)
⚙️ Ethereum - $1,859 (↑1.48%)
📈 S&P 500 - 4,396 (↑0.45%)
💲 DXY - 103.33 (↑0.42%)
🌕 Gold - 1,915 (↓0.33%)

How it's going so far for Bitcoin 😄

Long sideways movements have proven to be the hardest test for most traders 🥲

Today we have a strange altcoin rally. Literally, only the oldest and most forgotten "dinosaur coins" suddenly went up big 🦖

Another round of NFTs from the Trump family. Melania Trump (wife) has launched a set of NFTs inspired by the upcoming Independence Day holiday 🇺🇸

South Korean parliament approved its first digital-asset bill to boost investor protection. The legislation gives the Financial Services Commission the power to oversee crypto operators as well as asset custodians.

CME Group announced its plans to launch Ethereum/Bitcoin price ratio futures on July 31 😯

🔹 Last 24 hours top 3 gainers:

eCash - $0.0000357 (↑42.58%)
Bitcoin Cash - $307.99 (↑34.76%)
Compound - $58.6 (↑27.87%)

#GM

Elon Musk says that there are some chances that a fight between him and Mark Zuckerberg might happen in Colosseum 🥊

Lol, maybe he is just trolling, wasn't the fight already canceled? Hope it's not 🤞

Bitcoin crashes, SEC: ETFs are inadequate 😱

SEC says spot Bitcoin ETF filings are inadequate, BTC falls 4.7%

SEC still might approve ETFs 😯

It's not that bad, today's article by WSJ sounded scary, especially the heading. But, in reality, it was really 'clickbaity', and market participants overreacted by dumping BTC so quickly.

If you read the article in detail, you will see that the SEC just doesn't like the fact that there is no mention of the crypto exchange that the ETF will use to buy BTC, and they just need to refile the initial filling with updated details.

🤔 A little bit of conspiracy theory: the lawyers of serious organizations like BlackRock are not fools, and they could not have missed the absence of such an important detail in the document. Most likely, the exchange was not mentioned on purpose. 

There is some probability that it was done because the exchange planned to be used has not appeared yet... Here I allude to FTX 🤫

💰 Where to buy crypto?

When it comes to centralized exchanges it's very important to only use trusted ones that are secure and time-tested.

Note: by registering using the links listed below, you will get additional benefits and discounts on trading commissions of up to 20%

🔷 List of the best exchanges for both beginners and experienced users:

▪️ Binance: the biggest and most popular crypto exchange in the world, deep liquidity, high trading volume - register

▪️ Bybit: very suitable for futures trading, low fees - register

▪️ OKX: here it's possible to create many sub-accounts and get multiple personal addresses, low fees - register

▪️ Huobi: KYC not needed - register

▪️ Bitget: high liquidity, many fiat currencies trading pairs supported - register

🔶 List of exchanges with the highest number of available trading pairs and coins listed, for sophisticated users:

▪️ KuCoin: 863 coins listed, 1540 markets, and 45 fiat currencies supported - register

▪️ Gate io: 1704 coins listed - register

Remember that we are not responsible for your risks, and we are not affiliated with these exchanges, but those listed here have proven to be the best of all

#crypto_tips

✅ After bad news we temporarily went under 30k to 29,700 but then almost fully retraced when the panic settled 😊

Day summary:

🔸 SEC says spot Bitcoin ETF filings are inadequate, fillings need to be updated with more details about exchanges that are planned to be used 🫠

🔸 Italy has invited Mark Zuckerberg and Elon Musk to stage their cage fight at Colosseum

🔸  Apple $AAPL becomes the first company in history to close above a $3 trillion market cap. The market cap of the whole crypto market with all those shitcoins is $1.23 trillion 🙃

🔸 South Korean parliament approved its first digital-asset bill to boost investor protection

🔸 CME Group announced its plans to launch Ethereum/Bitcoin price ratio futures on July 31

🔸 Online banking app Revolut delists Cardano, Polygon, and Solana in the US market

🔸 US Supreme Court rejects President Biden's plan to cancel $430 billion in student loan debt 😌

🔹 Prices:

🌐 Bitcoin - $30,429 (↓0.50%)
⚙️ Ethereum - $1,927 (↑3.92%)
📈 S&P 500 - 4,450 (↑1.23%)
💲 DXY - 102.85 (↓0.47%)
🌕 Gold - 1,927 (↑0.49%)

We will be back 😄

After yesterday's comment from the SEC, WisdomTree, VanEck, and Invesco also refiled their spot ETFs, specifying Coinbase as a partner in the custodial agreement 🔵

Will $BCH, $BSV, and $XEC pump again? 🤔

🔹 Securities:

▪️ Bitcoin isn't a security, and Bitcoin Cash, which is a direct "copy" of Bitcoin, is also not a security.

▪️ Bitcoin SV is not a security either; it was created in 2018 as a result of the Bitcoin Cash hard fork.

▪️ eCash is named after Bitcoin Cash ABC; it's a fork of Bitcoin Cash and also cannot be called a security.

🔹 BTC dominance:

▪️ BTC dominance is now at ATH for the last 2 years, and all Bitcoin-related coins are growing. That means if Bitcoin keeps outperforming the market, those three are likely to follow and pump even bigger due to their low market caps.

🔹 SEC:

▪️ Not only retail investors are scared of securities at this point; Fidelity, Schwab, and others launched a crypto exchange called EDX with only four coins listed, none of which can be called security by the SEC, Bitcoin and Bitcoin Cash are on the list.

🔹 Overall pattern:

▪️ Bitcoin pumps/dumps = BCH and BSV pumps/dumps (forks).

▪️ BCH pump/dump = XEC pump/dump (fork).

Twitter is limited for everyone 🫤

Elon Musk, the owner of Twitter, announced that from now on there will be a limited number of tweets each user can see per day:

▪️ Verified accounts are limited to reading 6000 posts/day

▪️ Unverified accounts to 600 posts/day

▪️ New unverified accounts to 300/day

The outrage from Twitter users is insane. At first sight, this decision is foolish, from second sight it seems understandable but still weird.

🔒 This move is the continuation of yesterday's one, when Twitter started blocking unregistered users. If you want to browse tweets, user profiles, and comment threads on the web, then you need to be signed in to a Twitter account.

Probably the problem is AI models that are using Twitter for free to train, but after Elon bought Twitter, it was already in a pretty bad place when it comes to company revenue, and now things are about to get even worse 😕

Interesting, how many post's the average Twitter user sees per day? Maybe everything is not that bad after all...

PolyNetwork hacked... again 🫠

In 2021, PolyNetwork was hacked to steal more than 600 million US dollars, becoming the largest theft in DeFi history.

😡 Today hackers returned and issued additional assets on several chains. 10 million BNB and 10 billion BUSD on the Metis network, 1 quadrillion SHIB on Heco, and a lot of other altcoins on other networks.

Metis: "In regard to the newly minted BNB and BUSD on Metis, there is no sell liquidity available. All funds on Metis Andromeda are safe."

According to SlowMist, PolyNetwork hackers have successfully exchanged more than $4.39 million in assets with Kucoin, FixedFloat, ChangeNOW, and Tornado Cash. Some of the stolen tokens were exchanged for liquid assets worth about $1.22 million 💰