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In the summer of 2021, 24-year-old programmer Xiao Li, who moved to Beijing, exchanged the 500,000 yuan down payment his parents gave him for a house into a meme coin called 'SAFEOCTOPUS'. The project team claimed on X: Just holding it allows you to share all the copyright fees from Paul the Octopus's World Cup predictions, and they aim to create a decentralized prediction empire. The white paper was only 8 pages long, all filled with memes. Xiao Li bought in at $0.0008, and within 3 days it rose to $0.28, with a floating profit of 35 million. He quit his job, booked a first-class ticket to Dubai, and began posting in his social circle, 'Thanks to my parents for giving me a second chance at life.' On the 12th day, the team withdrew 99% of the liquidity using a multi-signature wallet, and the coin price plummeted to zero. At that moment, Xiao Li realized that the contract stated, 'This project is purely for entertainment; any resemblance to reality is purely coincidental.' The initial capital of 500,000 yuan, plus an additional 200,000 yuan that he chased up, evaporated overnight. Xiao Li quickly refunded his ticket and returned to his hometown. His parents still believe he earns 50,000 yuan a month in Beijing. There are no new stories in the crypto world, only new victims. No matter how good the narrative is, it cannot compete with the saying, 'Whoever holds the private key owns the money.' Before investing, ask yourself three times: Who is the exit path? Who provides the liquidity? Can I accept the worst-case scenario of going to zero? If you can answer honestly, then proceed. If not, stay away. Life is more important than money. $BTC {future}(BTCUSDT) $ETH {future}(ETHUSDT) $BNB {future}(BNBUSDT)
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BANK/USDT 24-hour news highlights: DeFi leverage engine poised for rebound As the cryptocurrency market warms up, the BANK/USDT (Lorenzo Protocol, DeFi leverage protocol) trading pair rebounded against the trend yesterday, becoming a hotspot in BTCfi. As of December 5, BANK's price was reported at 0.046 USDT, up 2.12%, with a 24-hour trading volume reaching 8.9 million USDT, an increase of 15.3% compared to the previous day, reflecting the inflow of institutional funds. Despite a short-term market capitalization of only 24 million USDT and a circulation rate as low as 25%, BANK's weekly increase reached 18%, outperforming the average of 7% in the DeFi sector. Key event: Lorenzo Protocol launched the “hidden leverage engine,” integrating BTC perpetual contracts and RWA collateral to achieve unsecured leveraged lending, aiming for a TVL exceeding 1 billion US dollars by 2026. The platform is buzzing, with mramzanwk posting, “$BANK is about to flip the entire BTCfi landscape,” receiving 112 views. With positive news stacking up, Binance Alpha added a BANK/USDT liquidity pool, causing the 24-hour trading volume to surge to 4.5 million USDT, and the price briefly touched 0.052 USDT. At the same time, Bank of America announced a pilot for a 1-4% cryptocurrency allocation, indirectly benefiting DeFi leverage tools. On the technical side, RSI rose to 52, escaping the oversold zone, with a support level at 0.042 USDT. TradingView analysts pointed out that on the daily chart, BANK formed a W double bottom, breaking through MA50 with increased volume, dominated by buying pressure, but caution is advised regarding BTC's dominance fluctuations. User qiuzhixia6688 emphasized that selling pressure has been digested, anticipating an increase exceeding 20%. Looking ahead, BANK's BTCfi innovation may help it explode in a bullish trend, but it is necessary to guard against regulatory risks and unlocking supply (75% locked). Investors are paying attention to Q1 TVL data to balance leveraged opportunities with market volatility. $BANK {future}(BANKUSDT)
{spot}(UNIUSDT) will eventually breakout of this multi year diagonal resistance, the team continues to build and ship new products and keeping up with the trend.