This Week’s Winners and Losers in Crypto
Big week in crypto! Banks going down causing BTC to go up. Alts (sort of) following suit. But who are the biggest winners and losers for the week? Biggest Winner(s): Arbitrum Airdrop Participants Thursday was a big day for those eligible for the coveted Arbitrum airdrop, but there were bumps along the way. The claim site was down from almost moments when it went live, and was nearly inaccessible for hours. However, after the dust settled, the price hovered above what estimates predicted (>$1)...
Post FTX: Bananas In The Bahamas
FTX’s spectacular implosion sent ripples which was felt by all through the cryptoverse, but has also hit the people of the Bahamas, where FTX was headquartered. According to a report in the WSJ, the island nation initially welcomed FTX with it’s lax and favorable crypto laws and eventually the locals became the supporting cast for FTX employees. Catering, security, transportation, event planning, logistics and many more services were required and the locals began taking up these jobs, creatin...
STOCK Act Gets Busted
Nancy Pelosi might not be too keen on the reformation bubbling up in her backyard. On Thursday, a new framework was released to change the policy known as the STOCK Act, aka "Stop Trading on Congressional Knowledge", which puts the onus on congressional and government leaders to disclose stock and asset purchases, in order keep transparency with the public. Historically, there have been quite a few calls on leaders to stop purchasing stocks because of the potential of insider knowledge on upc...
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This Week’s Winners and Losers in Crypto
Big week in crypto! Banks going down causing BTC to go up. Alts (sort of) following suit. But who are the biggest winners and losers for the week? Biggest Winner(s): Arbitrum Airdrop Participants Thursday was a big day for those eligible for the coveted Arbitrum airdrop, but there were bumps along the way. The claim site was down from almost moments when it went live, and was nearly inaccessible for hours. However, after the dust settled, the price hovered above what estimates predicted (>$1)...
Post FTX: Bananas In The Bahamas
FTX’s spectacular implosion sent ripples which was felt by all through the cryptoverse, but has also hit the people of the Bahamas, where FTX was headquartered. According to a report in the WSJ, the island nation initially welcomed FTX with it’s lax and favorable crypto laws and eventually the locals became the supporting cast for FTX employees. Catering, security, transportation, event planning, logistics and many more services were required and the locals began taking up these jobs, creatin...
STOCK Act Gets Busted
Nancy Pelosi might not be too keen on the reformation bubbling up in her backyard. On Thursday, a new framework was released to change the policy known as the STOCK Act, aka "Stop Trading on Congressional Knowledge", which puts the onus on congressional and government leaders to disclose stock and asset purchases, in order keep transparency with the public. Historically, there have been quite a few calls on leaders to stop purchasing stocks because of the potential of insider knowledge on upc...
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I'm sure everyone has noticed that ETH has been going up and up for almost a week now. My anxiety has been high because the goal is to buy as low as possible. So did I miss the train? NO (just my opinion)! Here are the reasons why I believe that this is just a pump and dump:
Macroeconomic reasons - There is nothing positive happening in the world right now that should indicate a market upturn. War and recession are still keeping TradFi markets down, so why should the crypto market be up? Remember, DeFi exploits and CeFi insolvency are some major factors for the market lag as well.
ETH up, most everything else down - Usually in an uptick, MOST if not all tokens/coins start rising in value. Seeing BTC pump only slightly should be a good indication that the market is not ready for a positive movement.
No good news yet - Everything in the news has been nothing but bad news for the market, in general.
But what about the Merge? - Yes, the Merge should start seeing a positive momentum for ETH but it's not going to happen till September. And the amount of times it's been delayed, why would anyone start investing now instead of closer to the Merge, when more details will be unveiled?
In the end, all you can do is trust your gut. If this is truly because the Merge is looming, then good for those that bought early. However, my gut is telling me to wait it out for a bit. Industry analysts are predicting a sub-$900 value for ETH and I think they are correct. As always, be careful with investing!
Written by: nikethereum.eth / Medium / Mirror
I'm sure everyone has noticed that ETH has been going up and up for almost a week now. My anxiety has been high because the goal is to buy as low as possible. So did I miss the train? NO (just my opinion)! Here are the reasons why I believe that this is just a pump and dump:
Macroeconomic reasons - There is nothing positive happening in the world right now that should indicate a market upturn. War and recession are still keeping TradFi markets down, so why should the crypto market be up? Remember, DeFi exploits and CeFi insolvency are some major factors for the market lag as well.
ETH up, most everything else down - Usually in an uptick, MOST if not all tokens/coins start rising in value. Seeing BTC pump only slightly should be a good indication that the market is not ready for a positive movement.
No good news yet - Everything in the news has been nothing but bad news for the market, in general.
But what about the Merge? - Yes, the Merge should start seeing a positive momentum for ETH but it's not going to happen till September. And the amount of times it's been delayed, why would anyone start investing now instead of closer to the Merge, when more details will be unveiled?
In the end, all you can do is trust your gut. If this is truly because the Merge is looming, then good for those that bought early. However, my gut is telling me to wait it out for a bit. Industry analysts are predicting a sub-$900 value for ETH and I think they are correct. As always, be careful with investing!
Written by: nikethereum.eth / Medium / Mirror
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