The news just dropped : the International Monetary Fund (IMF), just "urged" El Salvadorian authorities to fully drop Bitcoin as legal tender. As written in this article, the higher-ups at the IMF told the small country that "there are large risks associated with the use of bitcoin on financial stability, financial integrity, and consumer protection,…
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One of the key principles of Ethereum and other blockchains is that they are "opt in only" I.e., if you like it, use it, and if you don't like it, then just don't use it. This is all well and good, but the problem with this now is 2 key negative externalities. The energy use…
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Welcome to the Daily Discussion. Please read the disclaimer and rules before participating. Disclaimer: Consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading, and could…
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The mayor of New York City, Eric Adams, converted his first paycheck into bitcoin and ether before the price of the cryptocurrencies plummeted. However, the mayor said, “When you are a long-term investor, you don’t keep your eyes on your portfolio.” He added that the purpose of receiving a paycheck in bitcoin is to send […]
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DOGE was a whopping .14 cents when I woke up at 6 a.m. at 7:30 A.M the price jumped 12% and within 5 minutes was back down to .14 cents and now sits at a 3% total gain for the day… It's so nice that the clear pumping from influencers is dying down. Regardless of…
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The bitcoin crash rocked the market to its core when the digital asset had lost over 50% of its all-time high value to bottom out at $33,000. It was as a result of market sell-offs across the financial space, sparking a ripple effect that was felt heavily in the crypto market. Market sentiment had crumbled during this time as investors had scrambled to sell their holdings. However, not everyone saw the declining prices as a signal to sell before prices tank even more. Whales, who control a large portion of the circulating supply, took this as a cue to buy and have been filling their bags with all of the bitcoin being dumped on the market by panicking investors. Whale Gobbles Up Traded Bitcoin In a report from CC15Capital, the trading activities of a whale are outlined. In what came out to be a long document, it shows that the whale had been purchasing tens of thousands of bitcoin every few hours while traders dumped their coins. CC15Capital which is an asset allocator tracked the wallet and discovered that a single bitcoin wallet had been purchasing millions of dollars worth of bitcoin. Related Reading | Market Sentiment Crumbles As Sell-Offs Drags Bitcoin To $33,000 In the event of the past week’s price crash, this single whale had accumulated millions in bitcoin. Each purchase ranged from $2 to $18 million worth of BTC every few hours, averaging 48,000 BTC per purchase. It looked like the whale was buying up all coins being dumped on the market. By the weekend, the wallet had successfully increased its holdings by a couple of hundred thousand BTC. The more the price dropped, the more bitcoin the whale bought. BTC trading above $36k | Source: BTCUSD on TradingView.com CC15Capital, in response, called for bitcoin investors to stop dumping their coins, which are being bought by whales, thereby increasing the concentration of bitcoin supply in the hands of large investors. Stop panic selling your #Bitcoin to this guy. He’s been buying $2-18 million worth every few hours. pic.twitter.com/eCE3UKXEfD — CC15Capital (@Capital15C) January 24, 2022 Tradable BTC On The Decline CC15Capital also noted that the volume of bitcoin that is available for sale has gone down. Currently, 14.5 million of the total bitcoin supply is illiquid. This means that this supply has not moved, neither have they been traded. It is the highest concentration of supply which looks to be held for the long-term. In the same tweet, the asset allocator explains that if the wallets holding this illiquid supply were to increase their holdings by a mere 27%, a total of 4 million BTC, there would be no coins left for sale, driving the supply to zero. #Bitcoin illiquid supply (not traded) is at 14.5 million. If those who #HODL the 14.5 million Bitcoin, would increase their holdings by 27%, or 4 million $BTC, there would be exactly 0 remaining coins available for sale. Keep buying and HODL. Law of supply/demand will prevail. pic.twitter.com/RUb6gHSif6 — CC15Capital (@Capital15C) January 24, 2022 Related Reading | Has Bitcoin Reached Its Bottom? Analyst Says It Still Has A Long Way To Go Other whales have also taken advantage of the sell-offs happening in the market. As the exchange supply is dwindling, these large investors are making sure there is no shortage on their end when a supply squeeze happens. This is how you buy $1 Billion in #Bitcoin in 2 months. From $0 in November 2021 to over $1 Billion now. When you panic sell your $BTC, this is one of the guys buying it. Buy, #DCA and #HODL. pic.twitter.com/fmjpCFjCEI — CC15Capital (@Capital15C) January 25, 2022 In two months, a whale wallet that had zero BTC in November has managed to gather an impressthatalance of over $1 billion in BTC. This account looks to have started buying with the crash and has continued to do so ever since. At the time of writing, the wallet balance sits at $1,013,777,643.51. Featured image from TokeneoBit, chart from TradingView.com
Ryan Wyatt, YouTube’s Head of Gaming for seven years, is leaving next month to become CEO of Polygon Studios, the gaming and NFT arm of Polygon (MATIC). He was the man behind brining big name Twitch streamers over to YouTube and cited his passion for blockchain and Web3 development as the driving force behind the…
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Man, I was astonished to see that the cannabis business does not yet have its own actual top cryptocurrency. After years of Rodman doing that scheme with some pot coin people have been scared of having anything to do with crypto/cannabis fusions. But living at this day and time we cannot have a cannabis token…
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