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 💰

A demonstration of how people's interest in Bitcoin has changed since 2014 🤔

✅ There was a lot of volatility this week, bitcoin even briefly fell below 30k, but soon got back up. The SEC scared everyone into not accepting ETFs as they were written, and the funds began to refill applications with the needed changes 📝

Weekly crypto digest:

🔸 BlackRock, Ripple, Galaxy, Nasdaq, and other companies are interested in buying bankrupt crypto exchange FTX 😯

🔸 The largest bank in Hong Kong, HSBC, will allow its customers to buy and sell Bitcoin and Ethereum ETFs listed on the Hong Kong exchange

🔸 FTX Bankruptcy Team says it managed to recover $7 billion in "liquid assets" 

🔸 Crypto exchange FTX is in initial discussions with investors about relaunching its international exchange

🔸 Binance withdraws from Austria 👋

🔸 Binance banking partner for EUR transfers, will halt support for the crypto exchange on September 25th

🔸 Binance decided not to delist privacy coins in Europe, as it was planning to do last month

🔸 Binance crypto custody license application was denied by German regulator BaFin ❌

🔸 OKX suspends services for users living in Japan

🔸 Indonesia’s regulatory agency made public a catalog of 501 crypto assets that are now classified as commodities

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

🔸 Joe Biden said: "We’re going to make it fair by eliminating loopholes for crypto traders, hedge fund managers." 😕

🔸 Elon Musk announced that there will be a limited number of tweets each user can see per day

🔸 PolyNetwork got hacked again. Millions of dollars have been stolen

🔸 MicroStrategy acquired 12,333 bitcoins and now holds 152,333 BTC 🛒

🔥 Best weekly performers:

• Compound - $61.89 (↑61.5%) 
• Bitcoin Cash - $291.99 (↑53.2%) 
• eCash - $0.00003519 (↑45.8%)

Bitcoin continues to trade in the 30-31k range without changes, looks like it's our new level for a long time like 26-27k was 🥱

Crypto exchange Bittrex has submitted a motion to dismiss its legal dispute with the SEC. The exchange has aligned its arguments closely with those made by Coinbase 🤔

If you heard rumors that Gary Gensler is resigning, those are fake news, generated by AI 🤖

The Monetary Authority of Singapore has restricted crypto service providers from facilitating lending and staking of tokens by their retail customers, they need to deposit customer assets under a statutory trust before the end of the year for safekeeping 🇸🇬

🔹 Last 24 hours top 3 gainers:

The Graph - $0.132 (↑25.23%)
Compound - $65.16 (↑18.61%)
BitDAO - $0.501 (↑17.58%)

#GM

Venture capital investments in crypto are down 70% 🫠

According to recently published information, during the month of June 2022, the digital asset space received $1.81 billion in 149 rounds, whereas in June this year, only 83 projects registered $520 million — the lowest funded month to date.

Instead of crypto money flowing into AI startups 🤖

🚫 Belarus wants to ban crypto transactions between individuals

The Ministry of Foreign Affairs is currently drafting legal modifications to ban P2P trade. Only trade on "approved exchanges" will be allowed.

Even though it's not possible to control and monitor those transactions, because of the decentralized nature of web3, they can still come up with some insane threats of punishment in order to scare people.

🔒 Authoritarian governments are always afraid of losing control over their citizens, especially when it comes to finances

The shrimp army attacks the Bitcoin supply 🦐

🙂 "Shrimps" are those BTC holders who have less than 1 BTC in their possession. Currently, we see an aggressive accumulation of BTC by shrimps at a rate of 33.4K BTC / month.

The total coins held by the shrimps class is around 1.33 million bitcoins 📈

✅ Bitcoin broke through 31k and is still trading above; if bulls succeed in maintaining this level, the next target is 32.5-33k

Day summary:

🔸 Nasdaq refiles for the BlackRock ETF with CoinBase listed as an exchange partner - this news appeared but got deleted the next minute by TheBlock 😑

🔸 Singapore orders crypto firms to keep customer assets in a special trust by year-end

🔸 Crypto exchange Bittrex has submitted a motion to dismiss its legal dispute with the SEC

🔸 Rumors that Gary Gensler is resigning started to appear on social media, but they're fake ❌

🔸 Binance announced the launch of the NFT collection with the Ronaldo partnership ⚽️

🔸 Belarus will ban crypto transactions between individuals

🔸 Shrimps are hungry and accumulating BTC 🦐

🔹 Prices:

🌐 Bitcoin - $31,211 (↑2.21%)
⚙️ Ethereum - $1,966 (↑2.89%)
📈 S&P 500 - 4,455 (↑0.12%)
💲 DXY - 102.99 (↑0.07%)
🌕 Gold - 1,929 (↑0.01%)

Always 😄

Bitcoin and Ethereum are trading a bit higher than last week's value, but it seems that the psychological mark of 31k is not so important. In general, the market shows signs of a high level of PvP conditions 🤷‍♀️

Crypto exchange Gemini never received a debt payment from Digital Currency Group and Gemini's founder wrote an open letter to Barry Silbert, accusing him of all sorts of stuff 🤬

A new token standard on the Bitcoin network just dropped: BRC-69, it will be instrumental in launching recursive collections on Bitcoin 😏

Bernstein ($650 billion in AUM) said that the probability of SEC approval for a spot ETF remains fairly high 🤔

🔹 Last 24 hours top 3 gainers:

Aptos - $8.11 (↑9.35%)
Maker - $989.84 (↑8.07%)
Frax Share - $6.59 (↑8.64%)

#GM

🇿🇦 South Africa will require crypto exchanges to be licensed

According to South Africa's financial regulator, by the end of the year, licensees will be mandatory for crypto exchanges to operate.

20 applications from exchanges were already sent to the Financial Sector Conduct Authority of SA 📄

BAYC NFT's price is down 86% from ATH 🙈

Look at the picture of this sad monkey, it’s a Bored Ape Yacht Club NFT #3001, in January 2022, Justin Bieber purchased it for $1.31 million. Today, this NFT is worth $61k 😵

Floor price of the BAYC collection was $420,400 in the 2nd quarter of 2022, now the floor is around $61,669

💁‍♀️ Rule of thumb: When celebrities start buying monkey pictures for millions of dollars, it’s better to think about taking profits

❗️Every trader must know this

Many people have no idea how hard and stressful trading really is. For those who are struggling with trading, here are nine tips for you:

🔹 Knowledge is power. Stay informed about news and events. For example, it's very important to have an understanding of what the Fed is planning to do because the US economy affects the crypto market very much.

🔹 Set aside funds. Determine the amount of capital you're willing to risk. Close your eyes and imagine that you just lost 100% of your trading capital, if you feel that after losing it your life is over, that means you are overallocated, you need to decrease the risk.

🔹 Be serious about trading. Dedicate sufficient time to day trading. If you plan to do it in earnest, it's worth treating it as a job, not a fun hobby.

🔹 Narrow down your attention. Don't spread your attention across many different assets, you should always be on the lookout, but it's better to focus on a few that you understand the best.

🔹 Avoid unnecessary risks. Steer clear of low-priced, illiquid shitcoins. Trying to get 10x by buying a random 7-day-old meme coin is not trading, it's gambling with bonus steps.

🔹 Learn to do nothing. Observe the market before making moves. It's not necessary to always have an open trade, sometimes it's better to just sit on your hands and wait for a good entry/trend/trading setup.

🔹 Manage risks. Use limit orders to control losses and take profits. If you are spot trading, you should always have sell limit orders, if you're trading on futures, always use stop-loss.

🔹 Be realistic about profits. It's almost impossible to pull off one 100x trade, but it's very possible to do seven 2x trades over the long run.

🔹 Stick to the plan. Follow your trading strategy consistently. If you don't have a strategy, develop one, if you can't stick to your strategy — you shouldn't trade at all.

📌 Save this list of tips for later and share it with a friend

#trading_tips

Spot trading volume reached its lowest level since 2020, it fell by 42% in the second quarter of 2023. Interestingly derivatives trading volume decreased by only 8.6% 🧐

✅ Bitcoin falls below 31k, BTC dominance is decreasing, and the correlation between stocks and crypto is at 0%

Day summary:

🔸 Gemini's founder wrote an open letter to Barry Silbert, CEO of Digital Currency Group that owes $1.5 billion to Gemini customers but did not pay anything ✉️

🔸 A new token standard on the Bitcoin network token BRC-69 was created it will help reduce the cost of collection creation

🔸 South Africa will require crypto exchanges to be licensed by the end of the year 🇿🇦

🔸 Crypto spot trading volume reached its lowest level since 2020

🔸 UK government moves forward on a bill aimed at empowering authorities to seize crypto 🇬🇧

🔸 A new policy proposal encourages the Hong Kong government to issue its stablecoin, HKDG, in order to compete with USDT and USDC

🔹 Prices:

🌐 Bitcoin - $30,707 (↓1.78%)
⚙️ Ethereum - $1,934 (↓1.72%)
📈 S&P 500 - 4,455 (↑0.12%)
💲 DXY - 103.05 (↑0.06%)
🌕 Gold - 1,933 (↑0.21%)

CAREFUL, SCAM ❌

The twitter account of Co-Founder and CEO LayerZero Labs got hacked and scammers posted a malicious link using his profile.

⚠️ DON'T CLICK IT

Summarizing the last two months 😆