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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If your daily routine includes staring at token prices from the moment you wake up and every 5 mins until bedtime, then I assume you’re scratching your head just like I’ve been doing the last 2 weeks.
We’re seeing some tokens pumping, but why?! Overall, there are no positive macro/micro-economic reasons to hang our hat on, plus we have the pesky SEC chomping at the bit to takedown everything they can.
So what gives? Well there might be an answer to one pump with a plausible reason behind it.
Whether you hate it or love it, Bitcoin NFTs are all the rage thanks to the Ordinals Protocol, and Stacks (STX) is the reason behind why this new functionality on Lightning Network actually works.
Bitcoin was originally designed for one thing — — secure and decentralized monetary exchanges. And it does it VERY well.
On the other side, chains such Ethereum, Solana, Binance Smart Chain, Arbitrum, and so on, have lots of untapped utility, and can provide solutions for a number of use cases. Developers deploy smart contracts/dApps to build on top of these chains in order to increase the utility of that chain for their users (DeFi, NFT’s are essentially all powered by smart contracts).
Enter in Stacks, circa 2019. Seeing how chain utility was becoming the norm amongst the competition, Stacks came along to provide a Lightning Network-connected secondary layer for developers to build dApps on top of. Thus the advent of Bitcoin NFTs from Ordinals proved to be the driving force for Stacks to start pumping again.
And two bonuses, Stacks is SEC-approved AND not considered a security.
Price as of this writing is under $1 per token with highs and lows shown below. As always, do your own research, but perhaps it’s time to take another look at this little gem’s comeback.
Written by: nikethereum.eth / Medium / Mirror
If your daily routine includes staring at token prices from the moment you wake up and every 5 mins until bedtime, then I assume you’re scratching your head just like I’ve been doing the last 2 weeks.
We’re seeing some tokens pumping, but why?! Overall, there are no positive macro/micro-economic reasons to hang our hat on, plus we have the pesky SEC chomping at the bit to takedown everything they can.
So what gives? Well there might be an answer to one pump with a plausible reason behind it.
Whether you hate it or love it, Bitcoin NFTs are all the rage thanks to the Ordinals Protocol, and Stacks (STX) is the reason behind why this new functionality on Lightning Network actually works.
Bitcoin was originally designed for one thing — — secure and decentralized monetary exchanges. And it does it VERY well.
On the other side, chains such Ethereum, Solana, Binance Smart Chain, Arbitrum, and so on, have lots of untapped utility, and can provide solutions for a number of use cases. Developers deploy smart contracts/dApps to build on top of these chains in order to increase the utility of that chain for their users (DeFi, NFT’s are essentially all powered by smart contracts).
Enter in Stacks, circa 2019. Seeing how chain utility was becoming the norm amongst the competition, Stacks came along to provide a Lightning Network-connected secondary layer for developers to build dApps on top of. Thus the advent of Bitcoin NFTs from Ordinals proved to be the driving force for Stacks to start pumping again.
And two bonuses, Stacks is SEC-approved AND not considered a security.
Price as of this writing is under $1 per token with highs and lows shown below. As always, do your own research, but perhaps it’s time to take another look at this little gem’s comeback.
Written by: nikethereum.eth / Medium / Mirror
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