Now, one might think that this sudden increase in float would be a jolly good thing, but alas, it’s raised concerns about a potential supply glut 🤦♂️. Unless matched by proportional demand, the imbalance could trigger further downside across spot and derivatives markets 📊.
Yet even as the world’s financiers clutched their hats, a most undisciplined phenomenon unfolded—DEX to CEX spot trade volume, that unruly upstart, sailed to a record 27.9% in June. DEXes are partying; CEXes are updating their résumés.
The legislation, which narrowly passed Congress, raises the U.S. debt ceiling by a staggering $5 trillion. Critics, including Elon Musk, warn that the move could devalue efforts to reduce public debt and flood the economy with excess liquidity. Musk pointed to Dogecoin’s symbolic savings of $160 billion and questioned its relevance in the face of such massive spending.
Moreno, who I’m pretty sure is just a guy I met at a coffee shop, says it’s probably an early miner. You know, one of those people who were mining Bitcoin back when it was just a hobby and not a way to become a billionaire. The transactions are linked to old block rewards, which means these coins are like the fossils of the crypto world. Instead of selling, it looks like they’re just consolidating their UTXOs (unspent transaction outputs) into a single, larger one. Like, who does that? 🤔
Since the early April downturn, the tech-heavy Nasdaq has soared by 31%, while the broader S&P 500 has rallied by 24%, according to data from the ever-reliable TradingView. Meanwhile, the rest of the world’s major indices, such as Germany’s DAX, France’s CAC, Japan’s Nikkei, and China’s Shanghai Composite, have been left in the dust, gasping for air. 🏃♂️💨
Heigh-ho! Suddenly, a massive $8.6 billion in Bitcoin, slumbering untouched since the halcyon days of 2011, has decided to stretch its legs. Gossips and blockchain detectives alike are in quite a lather: who – or what – disturbed this ancient digital crypt? The fortune hasn’t been sold or spent, just… relined its wallet. One must ask: rehearsal for a grand exit? Some leviathan flexing its digital muscles? Or, as the more theatrically inclined suggest, is this the Phantom of the Opera of crypto hacks? 🎭
It’s not the first time bitcoin has appeared in Drake’s orbit. Over the past few years, the Canadian superstar has become one of crypto’s most visible celebrity community members.
Picture this: It’s Saturday, July 5. Uniswap’s hanging around $6.95, looking like it just woke up from a rough night, compared to its $20 high last November. The market cap’s taken a swan dive too, now at a humble $4.8 billion. Last year it was flexing at over $10 billion, but apparently the crypto gods don’t believe in happy endings. 📉
Some miners just dipped their toes in, while others went all in, repurposing rigs, raising credit, and signing billion-dollar deals. I mean, who wouldn’t want to get in on that sweet, sweet AI action? 🤑
According to a recent analysis by the market expert Daan Crypto Trades, Ethereum is trapped in a well-defined price channel, currently hovering around $2,527. The $2,800 mark, dear readers, is the key to unlocking the next big move. If Ethereum can break and hold above this level, it might just start a bull rally that could make even the most skeptical trader do a double take. 🤯
