Ray Dalio

And guess what? The daily burns are dancing up as if they were at a wild Bollywood party! It’s a glorious uptick, but hold your horses; it’s only in the four-digit percentage range. So, don’t go booking your ticket to the burn extravaganza just yet! 💃

ICP faced renewed selling pressure as geopolitical risks and cybersecurity threats rattled digital asset markets. The decline comes amid troubling findings from cybersecurity firm Koi Security, which uncovered a network of malicious browser extensions targeting cryptocurrency users.

Meanwhile, actual miners—the folks who create Bitcoins while keeping their laptops suspiciously close to every wall socket in sight—weren’t exactly tripping over themselves to offload their coins. Below-average outflows have, for decades (well, “crypto decades”), meant that miners are feeling pretty perky about future prices. In fact, the Coin Days Destroyed metric, which tracks whether veteran holders are panic-selling or just calmly sipping tea, indicated that most are doing the latter. No panic, apparently. Maybe just mild confusion over their digital wallets.

Here’s your personal front-row pass to the ongoing meme coin frenzy, where fortunes are made and lost in the blink of an eye. These coins are not just digital tokens; they are cultural phenomena, propelled by the unchecked enthusiasm of investors, the immortal cheer of ‘degens,’ and of course, the validation from giants like JPMorgan and top-tier exchanges.

While holders’ conviction remains strong, liquidation maps show both opportunity and risk for a sustained rally.

Ripple CEO Brad Garlinghouse confirmed the news in an X post, stating that the firm applied for a bank licence and a Fed Master account as part of its stablecoin plan. He said,

According to Spot On Chain, the BTC stash was acquired in April 2011 for the princely sum of $109,246. If you’re playing along at home, that means the average acquisition price was a jaw-slapping $0.78 per coin. Ah, the early 2010s, when coffee, beanie hats, and apparently Bitcoin were all under a dollar. The current ROI? Over 140,000x. Imagine explaining that to your bank manager: “No, I swear, I just… found it lying around.”

On Wednesday, Financial Services Chairman French Hill, Agriculture Chairman GT Thompson, and the rest of the House Leadership emerged from their natural habitat (a committee meeting, like a very beige safari) to say they’d be transforming America into a global crypto powerhouse. Don’t worry—this all comes after years and years of “dedicated” congressional work, which as we know, is typically spent learning how to mute/unmute on Zoom.

But fear not, dear reader, for our beloved Matt Hougan, chief investment officer at Bitwise, has a solution for us: Buy Bitcoin! Yes, you heard that right. The cryptocurrency that has been the talk of the town for years now is apparently the answer to all our problems.