Good day, fantastic Tuesday folks! ???? We’ve got some delicious news bites for you that’ll leave you saying ‘holy guacamole!’ And, as a special bonus, the AI has made some exciting crypto predictions – be sure to check out the new market section. (towards the end)
So, grab a cuppa and let’s dive right in! ☕????????
???? Why accumulating BTC may not be enough for optimistic whales!
???? Coinbase wants a clear cut answer, no more maybe’s
???? ETH Stakers Stake again
???? Trump’s aide questions potential revival of FTX
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Coinbase wants a simple ‘Yes’ or ‘No’ ????????
Things are heating up ???? in the world of digital assets, as Coinbase has taken on the Securities and Exchange Commission (SEC) in a battle ⚔️ for clearer regulatory guidelines.
Coinbase has filed an action in federal court asking the SEC for a “yes or no” response to a petition it originally submitted back in July. The petition contained a total of 50 questions ❓, all aimed at gaining a better understanding of the regulatory treatment of cryptocurrencies.
Coinbase, being the straight-shooter ???? that it is, is demanding a clearer response from the SEC about how it classifies tokens as securities. So, what’s the hold-up, SEC? ????
Want to Support Coinbase?
Show your support for the cause and become a part of a growing community that believes in the future of crypto:
- Mint your free Stand with Crypto commemorative NFT ????
- Add a shield emoji next to your Twitter display name ????️
- Sign up to become a Crypto435 advocate: https://actnow.io/z31xN5P”
Re-Stake Go ON! ????????
We’ve got some juicy news ???? coming in hot ???? from the Ethereum world! Apparently, over a million ETH ???? has been withdrawn from the staking contract following the Shapella upgrade.
That’s over $2.5 billion going cha-ching ???? for all those savvy stakers. But here’s the twist: despite all the withdrawals, people are jumping right back on the bandwagon ???? and re-staking their ETH.
In fact, there’s been a net ETH inflow of 571,950 ETH ???? this week alone! And we’re not just talking about individuals here – big institutions are getting in on the action too.
- Stakefish,
- Staked,
- and Kiln Finance
– have all staked a combined total of 235k ETH, which is around $450 million ????!
WiseGuy’s Take: The post-upgrade staking game for Ethereum is going strong ????. We’re seeing low withdrawal rates and high deposit rates – which means people are trusting the platform and feel confident ???? keeping their hard-earned money locked ???? in. And why not? After all, staking is proving to be a better option than keeping your money in the good ol’ savings account. ????????
Trump’s Aide Casts Doubt On FTX’s Revival ????♂️
Oh boy ????, looks like Trump’s former communication director Anthony Scaramucci is throwing some serious shade ???? at FTX!
During an interview on The Block’s The Scoop podcast ????️, the man with the most Italian-sounding last name in finance ???????? expressed his doubts ???? about the exchange’s revival.
It seems like FTX just can’t catch a break ⛔, especially after filing for bankruptcy protection last year. Scaramucci, who’s no stranger to high-pressure situations ????, doesn’t think that a restart of FTX is even feasible.
He pointed out that the lack of profitability among exchanges ???? is causing capital to go up in smoke faster than a New York-style pizza ???? in a wood-fired oven ????. Looks like FTX might be stuck in the penalty box ???? for a while!
BTC whales may have to do more than just accumulate ????
Bitcoin’s price has been fluctuating wildly ????????, but the latest data from Glassnode suggests that there’s a glimmer of hope ???? for investors.
It appears that the number of people depositing Bitcoin into exchanges has fallen to a two-year low ????, which could indicate a reduced selling pressure and fewer individuals looking to offload their holdings.
This could result in a reduction in the supply of Bitcoin available for sale ????, potentially driving up the price of the cryptocurrency.
Moreover, it seems that big investors, or whales ????, are continuing to show interest in Bitcoin ????. The weekend saw yet more accumulation of BTC by whales, with the supply of each whale exceeding 530 BTC for the first time since the FTX collapse ????.
This could indicate a bullish sentiment ????, which might drive up prices in the short term. That being said, a high concentration of whales could make retail investors vulnerable to unexpected whale behavior ???? in the long run ????♂️????.
Crypto Market Watch ft. AI????
(This section is exclusively written by AI tools)
It seems like there is a mixed sentiment towards Bitcoin in the short term.
Support levels: $26,500 (potential break below leading to the next significant level being its quarterly open)
Resistance levels: $27,800 (potential break above leading to a rally up to $30,000)
Taking into account the various signals and support and resistance levels, it would be wise to approach Bitcoin with caution in the short term until there is more clarity on regulations and further price movements.
$30,000 |____________________________
| Resistance
$27,800 |__________ /\__________
\ / \
$26,500 \________/ \
| Support
Honorable Mentions ????
- Over $22k lost in KuCoin Twitter hack.
- Visa is hiring crypto developers to drive mainstream adoption.
- Floki is listed on Binance US.
Twice weekly crypto goodness, coming your way! Catch us every Tuesday and Friday
