Cryptoinf
DEFI-Financial Freedom (Decentralized)
15 Sledované
100 Sledovatelia
71 Páči sa mi
15 Zdieľané
Príspevky
PINNED
Crypto Collapse: The Key Factors
The recent downturn in the cryptocurrency market can be attributed to several interconnected factors that have created a wave of negative sentiment among investors. Here are the primary reasons for the current decline:
Key Factors Behind the Crypto Market Decline
1. Mt. Gox Sell-Off:
A significant contributor to the recent price drop is the anticipated sell-off of approximately $9 billion worth of Bitcoin (BTC) by creditors of the defunct Mt. Gox exchange. This event has raised concerns about a potential influx of Bitcoin into the market, which could further depress prices as supply increases amidst already fragile demand conditions.
2. Liquidity Crunch in Stablecoins:
Analysts have pointed to a liquidity crunch in the stablecoin market as another reason for Bitcoin's struggles. This situation has led to decreased trading volumes and overall market confidence, contributing to the downward pressure on prices. The decline in stablecoin liquidity often signals reduced investor activity and can lead to increased volatility in cryptocurrency prices.
3. Regulatory Scrutiny and Market Sentiment:
The cryptocurrency market has been facing heightened regulatory scrutiny, particularly from the U.S. Securities and Exchange Commission (SEC). While recent approvals for spot Bitcoin ETFs had initially boosted market sentiment, ongoing regulatory challenges and investigations into major exchanges have dampened investor enthusiasm. This uncertainty has led to a cautious approach among investors, further exacerbating the market's decline.
4. Correlation with Traditional Markets:
The cryptocurrency market is increasingly correlated with traditional financial markets. Recent sell-offs in equity markets, particularly in tech stocks, have negatively impacted crypto prices. As investors seek to reduce risk exposure, cryptocurrencies often experience similar declines, reflecting broader market trends.
5. General Market Sentiment:
Negative comments from influential figures in finance, such as Peter Schiff advocating for gold over Bitcoin, have also contributed to a decline in confidence among crypto investors. Such statements can sway public perception and lead to increased selling pressure as investors reassess their positions.
In summary, the current decline in the cryptocurrency market is the result of a combination of factors including the looming Mt. Gox sell-off, liquidity issues in the stablecoin market, regulatory pressures, correlations with traditional financial markets, and shifting investor sentiment. These elements have collectively fostered an environment of uncertainty and caution, leading to the observed price drops across major cryptocurrencies.
#cryptocoin
Key Factors Behind the Crypto Market Decline
1. Mt. Gox Sell-Off:
A significant contributor to the recent price drop is the anticipated sell-off of approximately $9 billion worth of Bitcoin (BTC) by creditors of the defunct Mt. Gox exchange. This event has raised concerns about a potential influx of Bitcoin into the market, which could further depress prices as supply increases amidst already fragile demand conditions.
2. Liquidity Crunch in Stablecoins:
Analysts have pointed to a liquidity crunch in the stablecoin market as another reason for Bitcoin's struggles. This situation has led to decreased trading volumes and overall market confidence, contributing to the downward pressure on prices. The decline in stablecoin liquidity often signals reduced investor activity and can lead to increased volatility in cryptocurrency prices.
3. Regulatory Scrutiny and Market Sentiment:
The cryptocurrency market has been facing heightened regulatory scrutiny, particularly from the U.S. Securities and Exchange Commission (SEC). While recent approvals for spot Bitcoin ETFs had initially boosted market sentiment, ongoing regulatory challenges and investigations into major exchanges have dampened investor enthusiasm. This uncertainty has led to a cautious approach among investors, further exacerbating the market's decline.
4. Correlation with Traditional Markets:
The cryptocurrency market is increasingly correlated with traditional financial markets. Recent sell-offs in equity markets, particularly in tech stocks, have negatively impacted crypto prices. As investors seek to reduce risk exposure, cryptocurrencies often experience similar declines, reflecting broader market trends.
5. General Market Sentiment:
Negative comments from influential figures in finance, such as Peter Schiff advocating for gold over Bitcoin, have also contributed to a decline in confidence among crypto investors. Such statements can sway public perception and lead to increased selling pressure as investors reassess their positions.
In summary, the current decline in the cryptocurrency market is the result of a combination of factors including the looming Mt. Gox sell-off, liquidity issues in the stablecoin market, regulatory pressures, correlations with traditional financial markets, and shifting investor sentiment. These elements have collectively fostered an environment of uncertainty and caution, leading to the observed price drops across major cryptocurrencies.
#cryptocoin
Why cryptos are bleeding🩸? 5 key reasons⤵️
Here are 5 key reasons why the crypto market is experiencing a significant sell-off and price decline:
1. Macroeconomic fears and risk aversion: The crypto market is under pressure from a broader bout of risk aversion in global markets due to fears of an impending recession. Investors are moving away from riskier assets like crypto.
2. Geopolitical tensions: Escalating tensions in the Middle East are adding to market uncertainty and fear, contributing to the crypto sell-off.
3. Miners' struggles: Low hash rates and decreased earnings are causing some miners to sell their Bitcoin holdings or switch to mining other tokens. This increased selling pressure is weighing on BTC prices.
4. Regulatory crackdowns: Increased regulatory scrutiny and crackdowns on the crypto industry in some countries is shaking investor confidence.
5. Liquidation of long positions: The steep market decline has led to extensive liquidations of bullish futures positions, with over $280 million in long position liquidations in the past 24 hours. This has exacerbated the sell-off.
As a result of these factors, Bitcoin has fallen over 8% since the start of the weekend to around $57,000, its lowest price in almost three weeks. Ethereum and other major altcoins have seen similar sharp declines. The crypto market has shed over $300 billion in value in just the past three days, the largest such drop in almost a year.
Here are 5 key reasons why the crypto market is experiencing a significant sell-off and price decline:
1. Macroeconomic fears and risk aversion: The crypto market is under pressure from a broader bout of risk aversion in global markets due to fears of an impending recession. Investors are moving away from riskier assets like crypto.
2. Geopolitical tensions: Escalating tensions in the Middle East are adding to market uncertainty and fear, contributing to the crypto sell-off.
3. Miners' struggles: Low hash rates and decreased earnings are causing some miners to sell their Bitcoin holdings or switch to mining other tokens. This increased selling pressure is weighing on BTC prices.
4. Regulatory crackdowns: Increased regulatory scrutiny and crackdowns on the crypto industry in some countries is shaking investor confidence.
5. Liquidation of long positions: The steep market decline has led to extensive liquidations of bullish futures positions, with over $280 million in long position liquidations in the past 24 hours. This has exacerbated the sell-off.
As a result of these factors, Bitcoin has fallen over 8% since the start of the weekend to around $57,000, its lowest price in almost three weeks. Ethereum and other major altcoins have seen similar sharp declines. The crypto market has shed over $300 billion in value in just the past three days, the largest such drop in almost a year.
Why OpenAI May Lose $5 Billion in 2024
According to an analysis by The Information based on previously undisclosed financial data and sources familiar with the company, OpenAI is projected to lose up to $5 billion in 2024 due to massive costs associated with running AI products like ChatGPT.
The key reasons for OpenAI's potential $5 billion loss in 2024 are:
Training and Inference Costs
OpenAI is on track to spend nearly $7 billion this year on AI training alone
The company is renting $4 billion worth of Microsoft Azure servers to power ChatGPT inference workloads
Training new AI models could cost up to $3 billion in 2024
Staffing Costs
OpenAI's workforce has grown to around 1,500 employees, potentially costing $1.5 billion this year - triple the initial projections
Revenue vs Expenses
While OpenAI is generating around $2 billion annually from ChatGPT and nearly $1 billion from LLM access fees, its total revenue is estimated between $3.5-4.5 billion for 2024
This leaves a substantial shortfall compared to the $7-8.5 billion in projected expenses
The report suggests OpenAI may need to raise additional funding within the next 12 months to sustain its operations and ambitious AI research and development efforts.
The company has already completed 7 funding rounds, raising over $11 billion to date.
#OpenAI's #ChatGPT.
According to an analysis by The Information based on previously undisclosed financial data and sources familiar with the company, OpenAI is projected to lose up to $5 billion in 2024 due to massive costs associated with running AI products like ChatGPT.
The key reasons for OpenAI's potential $5 billion loss in 2024 are:
Training and Inference Costs
OpenAI is on track to spend nearly $7 billion this year on AI training alone
The company is renting $4 billion worth of Microsoft Azure servers to power ChatGPT inference workloads
Training new AI models could cost up to $3 billion in 2024
Staffing Costs
OpenAI's workforce has grown to around 1,500 employees, potentially costing $1.5 billion this year - triple the initial projections
Revenue vs Expenses
While OpenAI is generating around $2 billion annually from ChatGPT and nearly $1 billion from LLM access fees, its total revenue is estimated between $3.5-4.5 billion for 2024
This leaves a substantial shortfall compared to the $7-8.5 billion in projected expenses
The report suggests OpenAI may need to raise additional funding within the next 12 months to sustain its operations and ambitious AI research and development efforts.
The company has already completed 7 funding rounds, raising over $11 billion to date.
#OpenAI's #ChatGPT.
CoinMarketCap crypto heatmap showing all red indicates that the overall cryptocurrency market is experiencing a bearish trend with short liquidations dominating.
Here are the key points:💥🔨
➡️ A crypto heatmap is a visual tool that provides an at-a-glance view of the relative strengths of different cryptocurrencies across multiple timeframes.
➡️The colors on the heatmap represent the performance of each crypto asset.
➡️Green indicates the asset is above the prior bar's high, showing strength.
➡️ Red indicates the asset is below the prior bar's low, showing weakness.
➡️The darker the red color, the more bearish the price action. If most cryptocurrencies on the heatmap are displayed in dark red, it suggests an overall bearish market trend.
➡️ Short liquidations occur when traders who have bet on the price of an asset going down are forced to close their positions due to the price moving against them.
➡️ When short liquidations dominate across multiple cryptocurrencies, it indicates that the market is experiencing a bearish phase where prices are declining.
So in summary, the CoinMarketCap crypto heatmap showing all red tiles suggests that the cryptocurrency market is currently in a bearish state, with short liquidations exceeding long liquidations across most major crypto assets.
#crypto #heatmap #heatmapupdate
Here are the key points:💥🔨
➡️ A crypto heatmap is a visual tool that provides an at-a-glance view of the relative strengths of different cryptocurrencies across multiple timeframes.
➡️The colors on the heatmap represent the performance of each crypto asset.
➡️Green indicates the asset is above the prior bar's high, showing strength.
➡️ Red indicates the asset is below the prior bar's low, showing weakness.
➡️The darker the red color, the more bearish the price action. If most cryptocurrencies on the heatmap are displayed in dark red, it suggests an overall bearish market trend.
➡️ Short liquidations occur when traders who have bet on the price of an asset going down are forced to close their positions due to the price moving against them.
➡️ When short liquidations dominate across multiple cryptocurrencies, it indicates that the market is experiencing a bearish phase where prices are declining.
So in summary, the CoinMarketCap crypto heatmap showing all red tiles suggests that the cryptocurrency market is currently in a bearish state, with short liquidations exceeding long liquidations across most major crypto assets.
#crypto #heatmap #heatmapupdate
The Alleged Modi Team Stock Market huge Scam
🥵🥵
The recent stock market crash in India, which occurred on June 4, 2024, has been attributed to a scam by the Congress party leader Rahul Gandhi. According to Gandhi, the Prime Minister Narendra Modi, Home Minister Amit Shah, and Finance Minister Nirmala Sitharaman were directly involved in the scam, which resulted in a loss of Rs 30 lakh crore (approximately $386 billion) for retail investors.
Gandhi alleged that the BJP leaders had information that the exit polls were wrong, yet they gave specific investment advice to the five crore families investing in the stock market. He questioned why they gave advice to buy stocks before June 4, when they knew the exit polls were incorrect. Gandhi also pointed out that the same media house owned by the same business group, which is under SEBI investigation for manipulating stock markets, was used to give these interviews.
The chronology of events is as follows:
1. May 13: Amit Shah advised people to buy shares before June 4.
2. May 19: Prime Minister Narendra Modi said that the stock market would break records on June 4.
3. June 1: Exit polls were released, indicating a landslide victory for the BJP.
4. June 3: The stock market reached an all-time high.
5. June 4: The stock market crashed, resulting in a loss of Rs 30 lakh crore for retail investors.
Gandhi demanded a Joint Parliamentary Committee (JPC) probe into this matter, claiming that it was the biggest stock market scam in India's history. He also asked why the Prime Minister and Home Minister gave specific investment advice to people, when it was not their job to do so.
The stock market crash was attributed to the unexpected outcome of the Lok Sabha elections, where the BJP failed to win a majority of seats. The market had anticipated a landslide victory for the BJP, but the actual results showed a significant shortfall in seats.
Modi team's involvement in the stock market scam is alleged to have resulted in a loss of Rs 30 lakh crore for retail investors.
#sharemarket #scam #india
🥵🥵
The recent stock market crash in India, which occurred on June 4, 2024, has been attributed to a scam by the Congress party leader Rahul Gandhi. According to Gandhi, the Prime Minister Narendra Modi, Home Minister Amit Shah, and Finance Minister Nirmala Sitharaman were directly involved in the scam, which resulted in a loss of Rs 30 lakh crore (approximately $386 billion) for retail investors.
Gandhi alleged that the BJP leaders had information that the exit polls were wrong, yet they gave specific investment advice to the five crore families investing in the stock market. He questioned why they gave advice to buy stocks before June 4, when they knew the exit polls were incorrect. Gandhi also pointed out that the same media house owned by the same business group, which is under SEBI investigation for manipulating stock markets, was used to give these interviews.
The chronology of events is as follows:
1. May 13: Amit Shah advised people to buy shares before June 4.
2. May 19: Prime Minister Narendra Modi said that the stock market would break records on June 4.
3. June 1: Exit polls were released, indicating a landslide victory for the BJP.
4. June 3: The stock market reached an all-time high.
5. June 4: The stock market crashed, resulting in a loss of Rs 30 lakh crore for retail investors.
Gandhi demanded a Joint Parliamentary Committee (JPC) probe into this matter, claiming that it was the biggest stock market scam in India's history. He also asked why the Prime Minister and Home Minister gave specific investment advice to people, when it was not their job to do so.
The stock market crash was attributed to the unexpected outcome of the Lok Sabha elections, where the BJP failed to win a majority of seats. The market had anticipated a landslide victory for the BJP, but the actual results showed a significant shortfall in seats.
Modi team's involvement in the stock market scam is alleged to have resulted in a loss of Rs 30 lakh crore for retail investors.
#sharemarket #scam #india
Crypto Chaos: Meme Coins Swing Wildly After Trump Verdict.🪙🔨
➡️The guilty verdict against Donald Trump in the hush-money trial has led to volatility in some meme coins linked to him and his opponent Joe Biden. MAGA (TRUMP) initially dumped 17% to $11.20 but then pumped 50% to an all-time high of $16.80 before tumbling again, currently hovering around $13.90. Donald Tremp (TREMP) also passed through ups and downs, first dropping 5% and then rallying 18% to $1.38 before settling at around $1.18. Jeo Boden (BODEN), a meme coin tied to Biden, witnessed a 15% daily decline.
➡️Despite the verdict, Trump maintains that he is the right choice for crypto supporters, promising to let Bitcoin and crypto thrive in the US if elected. Recent polls suggest he may have the upper hand, leading in five out of six swing states.
➡️Crypto punters on the Polymarket prediction market believe there is a 17% chance Trump will go to prison before the November election, down from 25% earlier in May. Bettors had put the odds of a guilty verdict at 78%.
➡️Wall Street is bracing for potential volatility, with the political climate expected to become increasingly volatile. However, the stock market has historically shown a tendency to disregard domestic political turmoil. The market reaction is expected to be muted, as expectations for a guilty verdict were somewhat priced in. The bigger impact could be if the verdict begins to turn momentum away from Trump to Biden.
➡️Shares of Trump Media & Technology Group (DJT), the parent company of Truth Social, experienced a modest uptick after the verdict, recovering from an initial 7% premarket decline to trade 5% higher at market open. Despite financial setbacks, the company expressed confidence in its ability to fund operations.
#crypto #TrumpCryptoSupport
➡️The guilty verdict against Donald Trump in the hush-money trial has led to volatility in some meme coins linked to him and his opponent Joe Biden. MAGA (TRUMP) initially dumped 17% to $11.20 but then pumped 50% to an all-time high of $16.80 before tumbling again, currently hovering around $13.90. Donald Tremp (TREMP) also passed through ups and downs, first dropping 5% and then rallying 18% to $1.38 before settling at around $1.18. Jeo Boden (BODEN), a meme coin tied to Biden, witnessed a 15% daily decline.
➡️Despite the verdict, Trump maintains that he is the right choice for crypto supporters, promising to let Bitcoin and crypto thrive in the US if elected. Recent polls suggest he may have the upper hand, leading in five out of six swing states.
➡️Crypto punters on the Polymarket prediction market believe there is a 17% chance Trump will go to prison before the November election, down from 25% earlier in May. Bettors had put the odds of a guilty verdict at 78%.
➡️Wall Street is bracing for potential volatility, with the political climate expected to become increasingly volatile. However, the stock market has historically shown a tendency to disregard domestic political turmoil. The market reaction is expected to be muted, as expectations for a guilty verdict were somewhat priced in. The bigger impact could be if the verdict begins to turn momentum away from Trump to Biden.
➡️Shares of Trump Media & Technology Group (DJT), the parent company of Truth Social, experienced a modest uptick after the verdict, recovering from an initial 7% premarket decline to trade 5% higher at market open. Despite financial setbacks, the company expressed confidence in its ability to fund operations.
#crypto #TrumpCryptoSupport
Here are 5 key reasons why Shiba Inu (SHIB) could see a major price pump in 2024:✅💥🔨
1. Profitability of SHIB addresses has risen to over 25%, up from 24% previously, indicating growing investor confidence.
2. SHIB has seen a 300% surge in large transactions to reach $178 million over the last 24 hours, suggesting whales are accumulating the dip.
3. The SHIB burn rate remains high, with millions of tokens still being sent to dead wallets daily despite the recent price slump.
4. The Shiba Inu community is rallying behind a new rival meme coin called Shiba Budz (BUDZ), which they believe is poised for a major pump. If BUDZ pumps, it could trigger a ripple effect across the meme coin market, potentially boosting SHIB as well.
5. Shiba Inu's increasing popularity and active buyer base could help its value rise to $0.00001040 in a more bullish market environment, according to InvestingCube.com.
While SHIB is currently trading below the $0.000009 support level, these factors suggest the meme coin may be ready for a major rebound in 2024 if the positive momentum continues to build.
#Shibainuholder #ShibaInu: #crypto
1. Profitability of SHIB addresses has risen to over 25%, up from 24% previously, indicating growing investor confidence.
2. SHIB has seen a 300% surge in large transactions to reach $178 million over the last 24 hours, suggesting whales are accumulating the dip.
3. The SHIB burn rate remains high, with millions of tokens still being sent to dead wallets daily despite the recent price slump.
4. The Shiba Inu community is rallying behind a new rival meme coin called Shiba Budz (BUDZ), which they believe is poised for a major pump. If BUDZ pumps, it could trigger a ripple effect across the meme coin market, potentially boosting SHIB as well.
5. Shiba Inu's increasing popularity and active buyer base could help its value rise to $0.00001040 in a more bullish market environment, according to InvestingCube.com.
While SHIB is currently trading below the $0.000009 support level, these factors suggest the meme coin may be ready for a major rebound in 2024 if the positive momentum continues to build.
#Shibainuholder #ShibaInu: #crypto
Comprehensive summary of the crypto news for today:
Market Trends
➡️Global Market Capitalization: The global cryptocurrency market capitalization has increased by 1.3% over the past 24 hours, reaching $2.72 trillion.
➡️Top 100 Coins: Only five coins among the top 100 have seen their prices increase over this period.
Notcoin (NOT) saw the biggest increase by far: 28.1% to $0.01188. Bitget Token (BGB) rose 6% to $1.32.
Notable Events
➡️Tether (USDT): Tether Achieved Record Quarterly Profits as Market Cap Hits All-time High. The market cap increased by 0.98% to $111 billion, with USDT currently accounting for 69.3% of the market dominance among stablecoins.
➡️Gemini Returns Over $2 Billion in Crypto: Bankrupt crypto lender Genesis and crypto exchange Gemini have returned over $2 billion in crypto to 232,000 retail customers in their jointly managed Gemini Earn program, providing a 242% return on assets since Jan. 2023.
➡️NFTs Susceptible to Fraud: The US Treasury released its first risk-assessment report on May 29, emphasizing that NFTs are “highly susceptible to use in fraud and scams,” primarily involving traditional schemes.
Other Developments
➡️ChatGPT-coded Memecoin: A memecoin created using the popular OpenAI chatbot ChatGPT reached a valuation of $638 million in a little over a year. The meme token, called Turbo, saw significant gains in the last three months, catapulting from a $27 million valuation to over $600 million.
➡️Ethereum Re-staking Victim Gets 80% of Funds Back: A user who lost 1,807 liquid staked Ether (ETH), worth nearly $7 million, has recouped most of their losses after the attacker only kept a share of the exploit as a bounty.
➡️Argentina Aims to Learn from El Salvador's Bitcoin Success: The government of Argentina is working with El Salvador to learn from its experience of Bitcoin (BTC) adoption and other cryptocurrency activities.
#CryptoNews🚀🔥 #crypto
Market Trends
➡️Global Market Capitalization: The global cryptocurrency market capitalization has increased by 1.3% over the past 24 hours, reaching $2.72 trillion.
➡️Top 100 Coins: Only five coins among the top 100 have seen their prices increase over this period.
Notcoin (NOT) saw the biggest increase by far: 28.1% to $0.01188. Bitget Token (BGB) rose 6% to $1.32.
Notable Events
➡️Tether (USDT): Tether Achieved Record Quarterly Profits as Market Cap Hits All-time High. The market cap increased by 0.98% to $111 billion, with USDT currently accounting for 69.3% of the market dominance among stablecoins.
➡️Gemini Returns Over $2 Billion in Crypto: Bankrupt crypto lender Genesis and crypto exchange Gemini have returned over $2 billion in crypto to 232,000 retail customers in their jointly managed Gemini Earn program, providing a 242% return on assets since Jan. 2023.
➡️NFTs Susceptible to Fraud: The US Treasury released its first risk-assessment report on May 29, emphasizing that NFTs are “highly susceptible to use in fraud and scams,” primarily involving traditional schemes.
Other Developments
➡️ChatGPT-coded Memecoin: A memecoin created using the popular OpenAI chatbot ChatGPT reached a valuation of $638 million in a little over a year. The meme token, called Turbo, saw significant gains in the last three months, catapulting from a $27 million valuation to over $600 million.
➡️Ethereum Re-staking Victim Gets 80% of Funds Back: A user who lost 1,807 liquid staked Ether (ETH), worth nearly $7 million, has recouped most of their losses after the attacker only kept a share of the exploit as a bounty.
➡️Argentina Aims to Learn from El Salvador's Bitcoin Success: The government of Argentina is working with El Salvador to learn from its experience of Bitcoin (BTC) adoption and other cryptocurrency activities.
#CryptoNews🚀🔥 #crypto
What are the arguments for and against classifying Ethereum as a security?⁉️🚨🔨
Some of the arguments for & against classifying ETH as a security:
Arguments against classifying ETH as a security:
1. The SEC itself stated in 2018 that based on its understanding of ETH's decentralized structure, current offers and sales of ETH are not securities transactions. The SEC has not formally retracted this position.
2. The Commodity Futures Trading Commission (CFTC) has consistently recognized ETH as a commodity, most recently in a civil enforcement action against KuCoin. This dual recognition by the SEC and CFTC supports ETH's classification as a commodity.
3. Ethereum is a decentralized network with no central entity governing it or having privileged insider information, which is a key characteristic of securities.
4. There are thousands of stakeholders in Ethereum beyond the founding Ethereum Foundation, and in some areas, Ethereum is more decentralized than Bitcoin.
Arguments for classifying ETH as a security:
1. The SEC is investigating potential unregistered offerings and sales of ETH dating back to 2018, suggesting it believes ETH could be a security.
2. The SEC has subpoenaed several U.S. companies for documents related to their dealings with the Ethereum Foundation, a Swiss non-profit that organized Ethereum's launch.
3. SEC Chair Gary Gensler has said proof-of-stake chains like Ethereum, which pay token rewards to users locking up their coins, resemble investment contracts and could be classified as securities.
4. The SEC has filed lawsuits against crypto exchanges for allegedly selling unregistered securities to U.S. investors, including assets like Cardano (ADA) and Solana (SOL).
5. The existence of the Ethereum Foundation casts doubt on the argument that Ethereum is fully decentralized.
While the SEC has historically stated ETH is not a security and the CFTC classifies it as a commodity, the SEC's recent actions suggest it may be reconsidering ETH's status. The outcome could have significant implications for the crypto industry.
#ETHETFS
Some of the arguments for & against classifying ETH as a security:
Arguments against classifying ETH as a security:
1. The SEC itself stated in 2018 that based on its understanding of ETH's decentralized structure, current offers and sales of ETH are not securities transactions. The SEC has not formally retracted this position.
2. The Commodity Futures Trading Commission (CFTC) has consistently recognized ETH as a commodity, most recently in a civil enforcement action against KuCoin. This dual recognition by the SEC and CFTC supports ETH's classification as a commodity.
3. Ethereum is a decentralized network with no central entity governing it or having privileged insider information, which is a key characteristic of securities.
4. There are thousands of stakeholders in Ethereum beyond the founding Ethereum Foundation, and in some areas, Ethereum is more decentralized than Bitcoin.
Arguments for classifying ETH as a security:
1. The SEC is investigating potential unregistered offerings and sales of ETH dating back to 2018, suggesting it believes ETH could be a security.
2. The SEC has subpoenaed several U.S. companies for documents related to their dealings with the Ethereum Foundation, a Swiss non-profit that organized Ethereum's launch.
3. SEC Chair Gary Gensler has said proof-of-stake chains like Ethereum, which pay token rewards to users locking up their coins, resemble investment contracts and could be classified as securities.
4. The SEC has filed lawsuits against crypto exchanges for allegedly selling unregistered securities to U.S. investors, including assets like Cardano (ADA) and Solana (SOL).
5. The existence of the Ethereum Foundation casts doubt on the argument that Ethereum is fully decentralized.
While the SEC has historically stated ETH is not a security and the CFTC classifies it as a commodity, the SEC's recent actions suggest it may be reconsidering ETH's status. The outcome could have significant implications for the crypto industry.
#ETHETFS
Will Crypto Markets march Higher when $1.4B Bitcoin Options Expire?
The upcoming expiration of $1.4 billion worth of Bitcoin options contracts on December 8 is likely to have a significant impact on the crypto markets. Around 33,000 BTC options contracts are set to expire, with a put/call ratio of 0.84, indicating slightly more call sellers than puts.
The total open interest, or the value of all contracts yet to be closed or expire, is close to record levels at $16 billion, according to Deribit[1]. This suggests that the market is very active, with traders positioning themselves for potential price movements.
There are currently two hot strike prices with more than 20,000 calls for both $40,000 and $50,000. Options markets are suggesting that Bitcoin will hit $50,000 by January 2024, which is the same month that Bitcoin ETF approvals are expected.
However, it's important to note that history has shown that when Bitcoin runs, it runs, and the approval of Bitcoin ETFs may already be priced into crypto markets.
In addition to the expiring Bitcoin options, around 207,000 Ethereum contracts will expire on December 8, with a notional value of $491 million and a put/call ratio of 0.58.
Ethereum derivatives have been lackluster lately, with all eyes on Bitcoin, but this may be starting to change as speculators eye the second-largest crypto asset.
The crypto market has been experiencing notable increases, with the leading sectors being Bot, Meme, and Arbitrum. However, it's crucial to keep in mind that the expiration of such a large amount of options contracts could lead to increased volatility in the markets.
In conclusion, while the expiration of $1.4 billion worth of Bitcoin options contracts on December 8 is likely to have a significant impact on the crypto markets, it's difficult to predict the exact direction of the markets.
Traders should be prepared for potential volatility and make informed decisions based on their risk tolerance and investment strategies.
#BTC☀ #crypto #cryptoinf #Trending #ethereum
The upcoming expiration of $1.4 billion worth of Bitcoin options contracts on December 8 is likely to have a significant impact on the crypto markets. Around 33,000 BTC options contracts are set to expire, with a put/call ratio of 0.84, indicating slightly more call sellers than puts.
The total open interest, or the value of all contracts yet to be closed or expire, is close to record levels at $16 billion, according to Deribit[1]. This suggests that the market is very active, with traders positioning themselves for potential price movements.
There are currently two hot strike prices with more than 20,000 calls for both $40,000 and $50,000. Options markets are suggesting that Bitcoin will hit $50,000 by January 2024, which is the same month that Bitcoin ETF approvals are expected.
However, it's important to note that history has shown that when Bitcoin runs, it runs, and the approval of Bitcoin ETFs may already be priced into crypto markets.
In addition to the expiring Bitcoin options, around 207,000 Ethereum contracts will expire on December 8, with a notional value of $491 million and a put/call ratio of 0.58.
Ethereum derivatives have been lackluster lately, with all eyes on Bitcoin, but this may be starting to change as speculators eye the second-largest crypto asset.
The crypto market has been experiencing notable increases, with the leading sectors being Bot, Meme, and Arbitrum. However, it's crucial to keep in mind that the expiration of such a large amount of options contracts could lead to increased volatility in the markets.
In conclusion, while the expiration of $1.4 billion worth of Bitcoin options contracts on December 8 is likely to have a significant impact on the crypto markets, it's difficult to predict the exact direction of the markets.
Traders should be prepared for potential volatility and make informed decisions based on their risk tolerance and investment strategies.
#BTC☀ #crypto #cryptoinf #Trending #ethereum
Doge meme dog has passed away
Kabosu: Forever in Hearts - Honoring the Paw-sitive Legacy of the Doge Meme.
Kabosu, the Shiba Inu dog behind the iconic "Doge" meme, has passed away at the age of 18. Her owner, Atsuko Sato, announced the news on her blog, writing that Kabosu "quietly passed away as if asleep while I caressed her" on the morning of May 24, 2024.
Kabosu's quizzical side-eye expression became a viral sensation in 2013, inspiring countless memes featuring the dog's face paired with captions in broken English like "wow" and "much amaze".
The meme transcended the internet, with Kabosu's image being used in advertising campaigns and even inspiring the creation of the Dogecoin cryptocurrency in 2013.
In 2021, a non-fungible token (NFT) of the original "Doge" image sold for a record-breaking $4 million, with the proceeds going to charity.
Dogecoin, which has a market cap of over $22 billion, paid tribute to Kabosu on X (formerly Twitter), saying she was "a being who knew only happiness and limitless love" and that her impact on the world was "immeasurable".
Kabosu's hometown of Sakura, Japan, honored her with a bronze statue unveiled in November 2023, funded by donations from fans around the world.
A memorial service for the beloved dog will be held on Sunday, May 26, in Narita.
#doge #meme #memory #LoveAndKindness #love
Kabosu: Forever in Hearts - Honoring the Paw-sitive Legacy of the Doge Meme.
Kabosu, the Shiba Inu dog behind the iconic "Doge" meme, has passed away at the age of 18. Her owner, Atsuko Sato, announced the news on her blog, writing that Kabosu "quietly passed away as if asleep while I caressed her" on the morning of May 24, 2024.
Kabosu's quizzical side-eye expression became a viral sensation in 2013, inspiring countless memes featuring the dog's face paired with captions in broken English like "wow" and "much amaze".
The meme transcended the internet, with Kabosu's image being used in advertising campaigns and even inspiring the creation of the Dogecoin cryptocurrency in 2013.
In 2021, a non-fungible token (NFT) of the original "Doge" image sold for a record-breaking $4 million, with the proceeds going to charity.
Dogecoin, which has a market cap of over $22 billion, paid tribute to Kabosu on X (formerly Twitter), saying she was "a being who knew only happiness and limitless love" and that her impact on the world was "immeasurable".
Kabosu's hometown of Sakura, Japan, honored her with a bronze statue unveiled in November 2023, funded by donations from fans around the world.
A memorial service for the beloved dog will be held on Sunday, May 26, in Narita.
#doge #meme #memory #LoveAndKindness #love
CHAT GPT ANSWER ABOUT 5 ALT COINS
Here's a summary of 9 altcoins identified by experts as significant contenders in the crypto market for 2024, showcasing a mix of established projects and emerging technologies:
Arbitrum (ARB): Highlighted for its connection to the Ethereum EIP-4844 upgrade, promising reduced fees and increased adoption due to its improved efficiency and competitiveness as a layer 2 solution.
Optimism (OP): Known for leveraging Optimistic Rollups to enhance transaction speeds and reduce costs on Ethereum. It's celebrated for its governance model, enabling token holders to participate in key protocol decisions.
dYdX (DYDX): Distinguished for its decentralized exchange (DEX) capabilities, especially with its move to its own chain on Cosmos (ATOM) and notable fee generation, making it a standout for decentralized trading.
Celestia (TIA): Praised for its modular blockchain structure, which allows for the stacking of layer 2 solutions and other blockchains, enabling flexibility and the addition of new applications .
Thorchain (RUNE): Recognized for its novel approach to facilitating cross-chain liquidity, allowing for direct swaps between assets like Ethereum and Bitcoin, enhancing its demand in bullish markets.
Frax Share (FXS): Valued for its comprehensive approach in the DeFi space, including a lending protocol and an upcoming layer 2 chain, backed by a strong development team.
Ethereum (ETH): Continues to be a major player due to its smart contract capabilities, DeFi ecosystem, and ongoing developments towards a more scalable and deflationary model.
Shiba Inu (SHIB): This meme coin has transcended its initial status to offer a range of features, including a decentralized exchange and an NFT marketplace, buoyed by its active community and the Shibarium layer 2 solution
BNB (BNB): Binance's native token, integral to the BNB Chain ecosystem, facilitating lower trading fees and access to exclusive features. Despite regulatory challenges, its robust user base and active DeFi scene suggest potential growth.
Here's a summary of 9 altcoins identified by experts as significant contenders in the crypto market for 2024, showcasing a mix of established projects and emerging technologies:
Arbitrum (ARB): Highlighted for its connection to the Ethereum EIP-4844 upgrade, promising reduced fees and increased adoption due to its improved efficiency and competitiveness as a layer 2 solution.
Optimism (OP): Known for leveraging Optimistic Rollups to enhance transaction speeds and reduce costs on Ethereum. It's celebrated for its governance model, enabling token holders to participate in key protocol decisions.
dYdX (DYDX): Distinguished for its decentralized exchange (DEX) capabilities, especially with its move to its own chain on Cosmos (ATOM) and notable fee generation, making it a standout for decentralized trading.
Celestia (TIA): Praised for its modular blockchain structure, which allows for the stacking of layer 2 solutions and other blockchains, enabling flexibility and the addition of new applications .
Thorchain (RUNE): Recognized for its novel approach to facilitating cross-chain liquidity, allowing for direct swaps between assets like Ethereum and Bitcoin, enhancing its demand in bullish markets.
Frax Share (FXS): Valued for its comprehensive approach in the DeFi space, including a lending protocol and an upcoming layer 2 chain, backed by a strong development team.
Ethereum (ETH): Continues to be a major player due to its smart contract capabilities, DeFi ecosystem, and ongoing developments towards a more scalable and deflationary model.
Shiba Inu (SHIB): This meme coin has transcended its initial status to offer a range of features, including a decentralized exchange and an NFT marketplace, buoyed by its active community and the Shibarium layer 2 solution
BNB (BNB): Binance's native token, integral to the BNB Chain ecosystem, facilitating lower trading fees and access to exclusive features. Despite regulatory challenges, its robust user base and active DeFi scene suggest potential growth.
#BinanceChristmas
Merry Cryptmas to all the Binance fans
Who hodl their coins and trade with plans
May your wallets grow and your profits soar
In the Metaverse and beyond, explore and score!
Merry Cryptmas to all the Binance fans
Who hodl their coins and trade with plans
May your wallets grow and your profits soar
In the Metaverse and beyond, explore and score!
Ak chcete preskúmať ďalší obsah, prihláste sa