๐ More Crypto Pain Before Recovery?
10X Research warns that the crypto market is not ready for a new bull run yet.
The recent speculative memecoin collapse has weakened Solana (SOL) and other related tokens. ๐ง
Like the 2021 DeFi/NFT crash, the market needs a new narrative to fuel the next rally. ๐
Bitcoin is heading to $73,000, but caution is advised before jumping back in. ๐ค
Bottom line? The dip might not be over yet. Stay alert!
10X Research warns that the crypto market is not ready for a new bull run yet.
The recent speculative memecoin collapse has weakened Solana (SOL) and other related tokens. ๐ง
Like the 2021 DeFi/NFT crash, the market needs a new narrative to fuel the next rally. ๐
Bitcoin is heading to $73,000, but caution is advised before jumping back in. ๐ค
Bottom line? The dip might not be over yet. Stay alert!
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๐จ Investor Loses $1.82M to Phishing Scam!
A user unknowingly signed a malicious transaction on a phishing site, losing $1.82M.
๐น Double-check before signing any transaction.
๐น Revoke token approvals regularly.
๐น Use secure wallets & avoid suspicious sites.
๐น Never trust random messages or airdrops.
โ ๏ธ Stay vigilantโscammers are always hunting!
A user unknowingly signed a malicious transaction on a phishing site, losing $1.82M.
๐น Double-check before signing any transaction.
๐น Revoke token approvals regularly.
๐น Use secure wallets & avoid suspicious sites.
๐น Never trust random messages or airdrops.
โ ๏ธ Stay vigilantโscammers are always hunting!
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๐ Bitcoin in a Post-Euphoria Sell-Off
๐ Glassnode reports that the crypto market is experiencing a post-euphoria hangover, with massive panic selling and active capitulation of short-term holders.
Weak demand & fading accumulation since January have fueled a persistent sell-off. ๐
๐น STH-SOPR below 1 signals most recent buyers are realizing losses, adding to fear.
๐น Lack of dip-buying suggests investors are shifting toward risk aversion.
๐น Bitcoin could find support between $71.3Kโ$91.9K, but uncertainty remains.
โ ๏ธ Market in correction modeโstay cautious!
๐ Glassnode reports that the crypto market is experiencing a post-euphoria hangover, with massive panic selling and active capitulation of short-term holders.
Weak demand & fading accumulation since January have fueled a persistent sell-off. ๐
๐น STH-SOPR below 1 signals most recent buyers are realizing losses, adding to fear.
๐น Lack of dip-buying suggests investors are shifting toward risk aversion.
๐น Bitcoin could find support between $71.3Kโ$91.9K, but uncertainty remains.
โ ๏ธ Market in correction modeโstay cautious!
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๐จ Crypto Fail of the Day!
An unlucky Uniswap V3 user just made a jaw-dropping mistakeโswapping $220,000 USDC for only $5,000 USDT ๐คฏ.
Check the disaster yourself: Etherscan.
Howโs your day going? Any fails to share? ๐
An unlucky Uniswap V3 user just made a jaw-dropping mistakeโswapping $220,000 USDC for only $5,000 USDT ๐คฏ.
Check the disaster yourself: Etherscan.
Howโs your day going? Any fails to share? ๐
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๐ฐ Abu Dhabiโs MGX Fund Bets Big on Binance
MGX, a newly emerged investment fund from Abu Dhabi, has invested $2 billion in Binanceโmarking the largest institutional investment in a crypto company and the biggest-ever deal paid in stablecoins. ๐
Backed by Sheikh Tahnoun bin Zayed Al Nahyan, MGX is making waves in global tech investments, including Stargate, a U.S. government-linked project. Their ambitions are massive, and this is just the beginning. ๐
๐ Read more
MGX, a newly emerged investment fund from Abu Dhabi, has invested $2 billion in Binanceโmarking the largest institutional investment in a crypto company and the biggest-ever deal paid in stablecoins. ๐
Backed by Sheikh Tahnoun bin Zayed Al Nahyan, MGX is making waves in global tech investments, including Stargate, a U.S. government-linked project. Their ambitions are massive, and this is just the beginning. ๐
๐ Read more
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๐ Stablecoins Overtake Ethereum in Market Cap
The total stablecoin market cap has hit a new all-time high of $235.7B, surpassing Ethereum's market cap. Meanwhile, ETH holders face disappointment with prices stuck below $1,900. ๐
Against Bitcoin, things look even worseโETH/BTC dropped below 0.023 for the first time since December 2020. ๐ฌ
Is Ethereum losing ground, or is this just a market cycle? ๐ค
The total stablecoin market cap has hit a new all-time high of $235.7B, surpassing Ethereum's market cap. Meanwhile, ETH holders face disappointment with prices stuck below $1,900. ๐
Against Bitcoin, things look even worseโETH/BTC dropped below 0.023 for the first time since December 2020. ๐ฌ
Is Ethereum losing ground, or is this just a market cycle? ๐ค
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Crypto soothsayer
๐ Stablecoins Overtake Ethereum in Market Cap The total stablecoin market cap has hit a new all-time high of $235.7B, surpassing Ethereum's market cap. Meanwhile, ETH holders face disappointment with prices stuck below $1,900. ๐ Against Bitcoin, thingsโฆ
ETH/BTC has dropped to a 5-year low, with Ethereum losing 69.66% of its BTC value over time. ๐
As the decline continues, the crypto community is already joking about a new Ethereum logo ๐.
As the decline continues, the crypto community is already joking about a new Ethereum logo ๐.
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๐น๐ท Turkey is tightening crypto regulations with new rules for exchanges and custodians.
New requirements include investing in compliance infrastructure, establishing risk management teams, and implementing price monitoring systems. ๐
Crypto providers must also adhere to strict reporting and Anti-Money Laundering (AML) standards. These regulations align with global standards like Europeโs MiCA and the US SEC. ๐
New requirements include investing in compliance infrastructure, establishing risk management teams, and implementing price monitoring systems. ๐
Crypto providers must also adhere to strict reporting and Anti-Money Laundering (AML) standards. These regulations align with global standards like Europeโs MiCA and the US SEC. ๐
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Crypto people on Twitter are actively discussing Bitcoin's potential growth in the near future, based on its correlation with the money supply (#M2). ๐
According to recent analysis, BTC has been following M2 with a delay of about 70 days since September 2023. ๐ค
This trend suggests that Bitcoin could experience significant price movements in line with changes in the money supply. Investors are closely monitoring this pattern to predict the next moves in the market. ๐
According to recent analysis, BTC has been following M2 with a delay of about 70 days since September 2023. ๐ค
This trend suggests that Bitcoin could experience significant price movements in line with changes in the money supply. Investors are closely monitoring this pattern to predict the next moves in the market. ๐
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๐ There is a significant divergence between the BTC price chart and the networkโs hash rate.
Miners remain confident despite the price risks associated with market corrections.
This situation could be seen as a leading indicator for Bitcoinโs price, as substantial resources are being invested into coin production, suggesting that BTC might be undervalued. ๐
This divergence highlights miner optimism, which could signal a potential price surge once the market stabilizes. ๐
Miners remain confident despite the price risks associated with market corrections.
This situation could be seen as a leading indicator for Bitcoinโs price, as substantial resources are being invested into coin production, suggesting that BTC might be undervalued. ๐
This divergence highlights miner optimism, which could signal a potential price surge once the market stabilizes. ๐
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๐บ๐ธ Trump Family & Binance US Deal?
The Trump family is reportedly in talks to acquire a stake in Binance US, potentially through World Liberty Financial.
๐ฌ Some speculate that a pardon for CZ could ease Binanceโs return to the U.S. and help secure an EU license.
โ๏ธ However, CZ has denied these claims, stating they are false.
The Trump family is reportedly in talks to acquire a stake in Binance US, potentially through World Liberty Financial.
๐ฌ Some speculate that a pardon for CZ could ease Binanceโs return to the U.S. and help secure an EU license.
โ๏ธ However, CZ has denied these claims, stating they are false.
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Market in an Oversold Zone After a Strong Correction -
CryptoQuant ๐
CryptoQuant ๐
โEven without an additional sharp decline, the market has already been sufficiently lightened, making it a favorable zone for a potential upward move without the need for further significant drops.โ
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๐ BTC Correction Update
๐น Current BTC correction from the last ATH ($109,287) โ 30% ๐
โ How many 30%+ corrections since 2016?
๐น 10 times, with an average drop of 49.8%
โณ Average recovery time to previous ATH?
๐น 10 months
Interesting, how long will it take for Bitcoin to recover this time? ๐ค๐
๐น Current BTC correction from the last ATH ($109,287) โ 30% ๐
โ How many 30%+ corrections since 2016?
๐น 10 times, with an average drop of 49.8%
โณ Average recovery time to previous ATH?
๐น 10 months
Interesting, how long will it take for Bitcoin to recover this time? ๐ค๐
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Crypto soothsayer
๐ Lucky Solo Miner Strikes Gold! A solo miner with a home mining rig hit the jackpot last night, successfully mining block 887212 and earning 3.15 BTC (~$244,500). ๐ฐ The crazy part? Their mining rig runs at just 0.5 GH/sโan insanely small hashrate comparedโฆ
๐งฎ Infographic on Bitcoin Block Probability Based on Minerโs Hashrate
For example, on March 10, a solo miner hit the jackpot with a rig of just 0.48 TH/s. His chances? 1 in 1.6 billion โ or about once every 31,240 years if mining non-stop! โณ๐ฑ
For example, on March 10, a solo miner hit the jackpot with a rig of just 0.48 TH/s. His chances? 1 in 1.6 billion โ or about once every 31,240 years if mining non-stop! โณ๐ฑ
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Congress Moves to Lock In Trumpโs Bitcoin Reserve Order ๐
๐ A new bill is set to hit the U.S. Congress, aiming to solidify Trumpโs strategic Bitcoin reserve and digital asset fund, preventing future administrations from reversing it. The initiative, led by Rep. Byron Donalds, is part of the GOPโs push to end what they call the Democratsโ war on crypto. ๐ง
Trumpโs March 6 order transfers 200,000 BTC to the Treasury, bans their sale, and ensures the fund grows without taxpayer costs. If passed, this law could reshape cryptoโs role in U.S. policy for years to come. ๐๐ฅ
๐ A new bill is set to hit the U.S. Congress, aiming to solidify Trumpโs strategic Bitcoin reserve and digital asset fund, preventing future administrations from reversing it. The initiative, led by Rep. Byron Donalds, is part of the GOPโs push to end what they call the Democratsโ war on crypto. ๐ง
Trumpโs March 6 order transfers 200,000 BTC to the Treasury, bans their sale, and ensures the fund grows without taxpayer costs. If passed, this law could reshape cryptoโs role in U.S. policy for years to come. ๐๐ฅ
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โ๏ธ A US bankruptcy court has allowed the liquidators of the defunct hedge fund Three Arrows Capital (3AC) to increase their claim against the collapsed crypto exchange FTX from $120 million to $1.53 billion. ๐ฐ
The liquidators initially filed the claim in June 2023, citing breach of contract and fiduciary duty, after discovering FTX held 3AC assets that were liquidated to settle $1.33 billion in liabilities in 2022. ๐
FTX had delayed sharing relevant documents, causing delays in the claim process.
Despite objections, the court ruled in favor of the liquidators, noting FTXโs failure to provide the necessary information. This move threatens FTXโs plan to compensate its users. ๐ค
The liquidators initially filed the claim in June 2023, citing breach of contract and fiduciary duty, after discovering FTX held 3AC assets that were liquidated to settle $1.33 billion in liabilities in 2022. ๐
FTX had delayed sharing relevant documents, causing delays in the claim process.
Despite objections, the court ruled in favor of the liquidators, noting FTXโs failure to provide the necessary information. This move threatens FTXโs plan to compensate its users. ๐ค
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Retail Bitcoin Holders Are Selling โ 2020 Pattern Repeats! ๐๐ฅ
Retail BTC holders (balances under 1 BTC) are selling off their coins, mirroring the capitulation pattern of late 2020. ๐
However, this time, they collectively hold 35% more BTCโa total of 1.75M BTC. Will history repeat itself this time? ๐ค๐
Retail BTC holders (balances under 1 BTC) are selling off their coins, mirroring the capitulation pattern of late 2020. ๐
However, this time, they collectively hold 35% more BTCโa total of 1.75M BTC. Will history repeat itself this time? ๐ค๐
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