Shytoshi Kusama Shares Crucial Update on Long-Term Shiba Inu Plans, Peter Brandt Unveils His Trading Secrets, $34 Million in ETH Shifted in 24 Hours: Crypto News Digest by U.Today

by

As an experienced financial analyst, I find these news stories quite intriguing and noteworthy for different reasons. Let me share my perspective on each one.

U.Today has prepared the top three news stories over the past day.

Shiba Inu lead shares crucial update on SHIB‘s long-term plans

In a recent update on the Shiba Inu platform, the anonymous head of the project, Shytoshi Kusama, disclosed plans for the future of the dog-themed meme token and its associated ecosystem. Kusama gave a sneak peek into the intended purpose of TREAT, an as yet unlaunched token. As per Kusama’s announcement, members of the Shiba Inu community will be able to unlock advanced features within the ecosystem by utilizing TREAT. The SHIB team is reportedly in the final stages of securing partnerships to maximally leverage the system they have built. Furthermore, Kusama warned that he would eventually need to relinquish control over the project as Shiba Inu moves closer to realizing Ryoshi’s vision for a self-governing decentralized platform with no designated leader. Lastly, SHIB enthusiasts were informed of SHIBACON 2024, the inaugural conference for the project, which is scheduled to take place in Bangkok, Thailand, around the same time as DevCon.

Legendary Bitcoin trader Peter Brandt unveils his trading secrets

A significant number of Peter Brandt’s 50-year experienced trading enthusiasts have recently gained insights into his unconventional approaches in futures and forex markets. In response to a comment on his July 9 post, Brandt disclosed some techniques he doesn’t employ, such as: shunning trendlines, most indicators, day trading, and accepting losses. Furthermore, he shared that he overlooks market fundamentals, win rates, and the moves of fellow traders. Additionally, Brandt revealed that his risk per trade does not exceed 0.7%, and he is unfazed by getting stopped out or becoming overly fixated on specific markets or asset classes.

$34 million in Ethereum (ETH) in 24 hours, What’s happening?

Amidst the ongoing volatility in the cryptocurrency market, large-scale Ethereum investors have started making significant moves. Based on information from Whale Alert monitor, an unidentified wallet transferred 11,215 ETH to Coinbase exchange yesterday, equal to around $34.35 million. It seems this whale intends to sell off this substantial amount of ETH. The timing of this sale is noteworthy as it coincides with the recent market downturn. Over the past 30 days, Ethereum’s price has decreased by 16.68%, indicating a severe market correction affecting coins such as Bitcoin and Ethereum. Despite optimism for ETH’s price recovery, some traders are cashing out their holdings, with this Ethereum whale possessing approximately $34.35 million worth of ETH. Given the magnitude of the transaction, it could potentially exacerbate the market downturn and further push down the ETH price.

Read More

2024-07-10 19:40