📊 The most popular decentralized applications on Blast.

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✅ Coinbase returns XRP to New York Investors

✅ XRP trading was suspended in January 2021 due to litigation with the SEC.
✅ In July 2023, the court recognized that secondary sales of #XRP are not securities, but trading in New York has not yet been supported.

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✅️How to avoid scammers using free signals from bloggers?

✏️Nowadays, every other blogger in the stock/crypto space launches their private groups and closed channels with trading signals. I don't see anything wrong with it, as it's one way to monetize their channel. Bloggers should receive compensation for their work and efforts they put into advertising and creating content.

✅The problem is, people always want valuable information for free. Unfortunately, there's no such thing as a free lunch, so today let's talk about "honey pot" tokens and discuss a real case of how one blogger scammed 17,000 subscribers by publishing a free signal.

What are "honey pot" tokens?

Honey pot tokens are coins you can buy but can't sell. The function to sell is simply blocked in the token's smart contract. These tokens can be traded on platforms like Pancakeswap and other DEX exchanges.

The trouble is, newcomers often don't realize that such tokens even exist. Their logic is simple:

"Is it traded on the exchange? Yes? Then it's not a scam."

Unfortunately, that's the main mistake newcomers make. On Pancakeswap, hundreds of scam tokens are traded because there are no restrictions on adding tokens to the exchange. Anyone can create their token and add it to the exchange.

Now let's get closer to a real case.

A few months ago, the project CryptoCitizen was announced on the Polkastarter launchpad. The project's token was supposed to be called $CCASH.

A clever guy ☺️ decided to scam his followers. He did it through a honey pot token: created a token with a similar ticker and started writing "sweet" stories in his channel, where he had 17,000 subscribers, about how this token would skyrocket soon.

Naturally, this whole process was fueled by phrases like "whales will come tomorrow" / "this is your last chance." And how could it be without phrases like "I'm buying another 100 BNB" / "I want to make you independent and smart"? Just like the Robin Hood of our time.

The result is dismal.

There were 3000 transactions according to the contract. And if you think the loss amount is $3000-5000, I'll disappoint you. In the official CryptoCitizen project group, several victims were found, each of whom bought tokens for $2000-3000. And there were thousands of transactions.

How not to fall for a honey pot token?

It's all very simple: always look at the volumes of token buys/sells. If there are no red bars indicating sales, It's impossible for a token to only be bought for 10-15 minutes of trading. There will always be sellers, so there should be red candles.

Hit the 🔥 - I hope this material was useful and will protect your capital from such scammers.

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Good morning!

The market is down today, with most altcoins in the red. BTC is currently trading around $67,695. ETH around $3,810.

🔴Fear/Greed Index: 74 - Greed

📰 Morning news roundup:

🟢 All spot Ethereum ETFs are officially approved.

🟢Is the FIT21 bill really what the cryptocurrency needs?

🟢 Congress has passed a bill prohibiting the Fed from creating a CBDC.

🟢 The SEC's classification of Ethereum is attracting special attention despite the ETF approval.

🟢Bybit CEO dispels hacking and insolvency rumors amid media noise.

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🐦 The best leave us first...

Kabosu, the dog from the Dogecoin meme that inspired DOGE 🐶 and Shiba Inu 🐕, has passed away at the age of 18.

That feeling when the meme coin outlives the meme itself 🪖

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🐦 Michael Saylor (former director of MicroStrategy) 3 weeks ago:

"Ethereum ⚪️ will not be approved. This summer, it will become clear to everyone that ETH is a security.

It will never be wrapped in a spot ETF. Neither Wall Street nor institutional investors will ever accept it.

BTC 🟠is the only generally recognized crypto asset at the institutional level. There won't be another one like this."

Even the best can make mistakes.

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🐶 Shiba Inu Whales Vanish as Only 1.4 Trillion SHIB Trades 📉

Shiba Inu's recent performance hasn't been bullish. The asset struggles below $0.000025, indicating a disconnect from the market. The departure of whales signals a lack of readiness for growth.

Recent strong selling pressure pushed Shiba Inu below crucial support levels, dropping to about $0.0000239. This decline coincides with a decrease in large transactions, hinting at reduced whale activity, weakening buying pressure.

For instance, there were only 82 large transactions in the last 24 hours compared to a seven-day high of 341. Despite a drop in whale activity, the volume remains significant, indicating continued bearish pressure.

Additionally, only 61% of holders are profitable at current prices, with 35% at a loss. Large holders still control 73% of the tokens, though transaction volume is decreasing, suggesting increased whale activity.

A bearish sign looms as the 50-day and 100-day EMAs threaten to cross. A break below this level could trigger further selling, pushing SHIB towards support levels at $0.000022 and possibly $0.000018. 📉

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📊 Top 15 projects with bullish forecasts from Oriole Insights

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😦 Today, Vitalik Buterin unlocked and received 845,205 tokens worth $ 1.07 million. 👍

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🚀 Solana (SOL) ETF Incoming: Anthony Scaramucci 📈

Pro-crypto financier Anthony Scaramucci predicts the next exchange-traded fund will focus on Solana ($SOL), the fifth largest cryptocurrency with a market cap of $74,257,065,079.

Scaramucci's tweet today hints at the imminent launch of a SOL ETF, urging the crypto community to prepare.

We are going to get a $SOL ETF get ready.— Anthony Scaramucci (@Scaramucci) May 24, 2024

Despite this optimism, SOL faces hurdles as it's classified as an unregistered security by the SEC. While Bitcoin and Ethereum have been recognized as commodities, Ethereum's status is uncertain.

Although spot ETFs for Ethereum have been approved, SOL's status presents challenges due to SEC regulations. The removal of ETH staking references from filings indicates attempts to comply with SEC rules.

BlackRock, a major ETF issuer, previously expressed intent to file for an XRP-based ETF. However, Bloomberg crypto analyst James Seyffart suggests limited demand for altcoins like Litecoin and Dogecoin. 🛑

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🟠 Bitcoin's Consolidation: Opportunity Knocks p. 1/2 🛒

Bitcoin's climb in May has stalled, hovering between $60,000 and $70,000 after hitting a high of $56,630 at the start of the month. Recent attempts to break the $70,000 barrier faced resistance, pushing the price down.

Sellers have dominated for the past four days, driving Bitcoin towards its crucial support at $65,000. This level aligns with the 21-day EMA and the May trendline, indicating strong significance.

Analysts eye Bitcoin's performance closely, emphasizing the importance of holding the $65,150 support for a bullish resurgence.

🐂 Bitcoin Bulls Face Test 📉

A drop below $65,000 could refocus attention on the $60,000-$62,000 zone, while defending this support may pave the way for a move towards $71,000-$73,000.

Breaking above $73,000 on a weekly close could target $77,000-$83,000 in the short term. Long-term, Bitcoin could aim for $110,000 if it breaks the current consolidation zone.

Hit the 🔥 - if you find the material helpful and wait for part 2 🐶

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Good morning!

Today, the market is in the black, most altos are green.

🟠BTC is currently trading around $68.745.
⚪️ETH is around $3765.

⭕Fear/Greed index: 75 - greed

📈A selection of morning news:

⏺Analysts are arguing a potential Solana ETF in the United States.

⏺ Ripple is facing criticism from Tether defenders.

⏺ The crypto market is aiming for a market capitalization of $10 billion.

⏺ A new development of the fate of the Terra (LUNA) project and its founder, Do Kwon.

⏺ Coinbase is fighting with the US SEC, trying to get an answer to a key question about cryptocurrency.

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👀 Distribution of stablecoins by market capitalization

Which stablecoins do you use? Write in the comments 👇

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⚪️ The Ethereum upgrade called Pectra is scheduled for the end of the first quarter of 2025.

The update will include various improvements, including activation of the account abstraction feature.

Account abstraction will allow wallets to function as smart contracts, providing access to account recovery functions, batch transactions to save gas and sponsored gas.

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🦄 Uniswap Foundation will hold a vote on updating the protocol on May 31.

The update involves the introduction of a reward mechanism that will distribute UNI tokens among holders who have locked and delegated their tokens.

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