Get your weekly dose of crypto news straight from the source! Mr. Bitty has prepared everything for you. Let’s see what the crypto news is for the ongoing week!
Dips, prices rise, interesting crypto opportunities, or awesome stories from the crypto world – we’ve got them all!
17 December
“Digital Gold?” U.S. Treasury Q4 Report Makes a Bold Characterization
One of the key considerations of any investor is dealing with the effect of inflation. Many would be content to leave their money in the bank and take no investment risk. But, inflation means that if money sits still, it’s losing value. Depending on where you are, this effect could reduce your holdings by a few percent a year. In bad times, it could be much worse. Inflation slowly erodes our money’s value. Every dollar (or euro) you save is worth less over time.
So, people invest. They hedge. They often buy gold as a store of value. It might survive any market catastrophe, even a collapse. Shiny metals, like silver and platinum, are always precious. They are valued even in the worst of times. But is there such a thing as digital gold? Could a cryptocurrency work like gold as a hedge against inflation and other risks?
The U.S. Treasury TBAC seems to think so.
In a Q4 presentation by the Treasury Borrowing Advisory Committee, Bitcoin was referred to as “digital gold.”
This view is largely due to the activity around stablecoins. These are cryptocurrencies pegged to a fiat currency, like the dollar, to avoid price volatility. Interestingly, stablecoins are now being increasingly backed by short-term Treasuries. This links this “digital gold” to traditional financial markets. The reliance on Treasuries creates demand for cryptocoins. It reinforces their role as a rising cornerstone of global finance.
As crypto offerings prove to be digital gold, their value will likely affect Treasuries. This shift may change safe-haven strategies for investors fleeing volatility. It could also spark innovations in financial infrastructure. People see USDT as a secure alternative to many asset classes.
A new form of gold? What CAN’T crypto do?
9 December
Lost Bitcoin Hard Drive Worth Over $770M Thrown Out By Wife
There’s always another twist or turn in this saga, isn’t there?
Let’s recap for those who haven’t been following.
James Howells is a Welsh IT engineer who mined Bitcoin back in 2009, when the price of a single token was tallied up in cents, not tens of thousands of dollars. He stored the cryptocurrency on a hard drive, and there it sat in his house as the years passed by, and the value of BTC climbed into dollars and then hundreds of dollars (this once was almost unthinkable, if you can believe that).
Eventually, it was time for spring cleaning, and Howells’s (now-ex) wife, Halfina Eddy-Evans, was tasked with cleaning up some old electronics. According to her, he “begged” her to throw out unwanted articles, which included the hard drive with the precious Bitcoin. The drive ended up in a Welsh landfill, unremembered until Bitcoin’s value skyrocketed years later. As time passed on and Bitcoin became more valuable, it finally struck Howells: his thrown out hard drive was worth millions. In fact, at today’s prices, it is worth over $770M! There’s just one problem…
It’s hidden in a landfill somewhere, sitting there like the Holy Grail, with nary a soul able to find it.
Since realizing the hard drive’s value, Howells has been on a relentless mission to retrieve it. He has even appealed to his local Newport City Council for permission to excavate the landfill. The government has not been moved by his requests, citing environmental and logistical concerns. The project would involve sifting through over 100K tons of garbage! This is despite Howells’s offers to fund the excavation privately and donate 10% of the recovered fortune to the council.
Howells has since filed a lawsuit against Newport City Council, seeking damages of around $647 million for denying his excavation plans. Despite the legal and environmental hurdles, he remains determined to recover the lost Bitcoin. Will the saga ever end? Possibly not. Put yourself in his place. Could you think of anything else as you hit the pillow each night? It would be nearly impossible to truly let go.
Offline cold wallets are cool and quite secure, but this would never happen with an online hot wallet. Just saying…
2 December
So Close! Bitcoin Nearly Hits $100K
The past month has been absolutely insane for Bitcoin. On October 25th, it was sitting around $66K or so. Now, 30 days later, the price is over $98K – an all-time record high. The price has increased about 150% in 30 short days, on the heels of U.S. election results and a tremendous amount of hype around the future of cryptocurrency in general.
However, we’re not at $100K yet. In fact, as many people saw the big milestone approaching, they decided this was the perfect time to liquidate holdings and bank some gains. The selloff really cooled things down for a moment.
Sales amounted to over $470 million for leading tracked coins and other holdings market wide. For Bitcoin, it was one of the largest weekend liquidation events in more than six months. CoinGlass data showed that $352.6 million of the liquidations were long positions, with $119.9 million in shorts. So, the majority of these investors are believers in increased value. It should go without saying for anyone viewing these charts, but now is a very, very bad time to be betting against the market.
What Other Coins Were In the Mix?
Bitcoin and Ether were the largest chunks of the liquidations, totaling $108.9 million. Altcoins made famous in the 2020-2021 cycle, however, including Dogecoin, XRP, and Stellar (XLM), also saw disproportionate liquidation volumes at $33.1 million, $27.6 million, and $21.6 million, respectively. Other notable altcoins, such as Solana (SOL), The Sandbox (SAND), Polkadot (DOT), and Cardano (ADA), followed suit, showing considerable liquidation activity.
The prices are too high to resist, essentially, especially for altcoins that can be sleepy. For example, Stellar rose around 50%. And the unforgettable DOGE achieved its highest price since May 2021, a period when the memecoin was at its most meme-worthy since inception. Some industry analysts attributed the altcoin rally to traders from the previous cycle reopening their wallets and reinvesting in familiar tokens. You buy what you know, right? Others suggested that these tokens are trading below fair value in a market that can be polarized between Bitcoin (gargantuan values) and memecoins (bargain basement penny stocks of the crypto world).
Whatever you do, don’t bet against the line right now. Many crypto rockets seem to be aimed directly at the MOON.
25th November
What Will Crypto Donor “Whales” Want from a New U.S. Federal Government?
Anyone who was watching the media surrounding the recent U.S. elections probably noticed an uptick in the number of ads targeted at cryptocurrency issues – and to politicians making statements about the crypto industry. This is due in large part to the massive sums of money spent by wealthy crypto investors and platform promoters who are hoping to establish a more favorable relationship with legislators, executives, and the government’s various agencies going forward as a new administration comes into power.
How Much Did Big Crypto Donors Spend?
The final tally sits somewhere north of $130 million. Much was spent through super PACs to support pro-crypto candidates. Billionaires with crypto stakes also contributed to organizations working on Donald Trump’s presidential bid. Crypto PACs, including Fairshake and others, focused on supporting candidates through non-crypto-related ads to influence voters subtly. The industry’s political clout was highlighted by campaign efforts against figures like Katie Porter and for candidates like Bernie Moreno.
What Did They Achieve? What Do They Want?
Crypto groups now can say that around 274 members of the U.S. House of Representatives are “pro crypto,” as are around 20 Senate members. Industry leaders are hoping for regulatory changes from this group, but also replacement of personnel they view as opposed to crypto, like SEC Chair Gary Gensler. They want legislators to pass laws to integrate crypto more fully into the U.S. financial system.
Donald Trump, in particular, is taking a more pro-crypto stance that marks a shift from earlier skepticism. Who will he tap to promote crypto-favorable policies? At the moment, key candidates for the SEC chair position include former commissioners Dan Gallagher and Paul Atkins. Trump’s crypto interest also extends to ventures like World Liberty Financial, signaling potential conflicts of interest given his influence over regulatory appointments.
How do we know these individual picks are on the crypto side of things?
Well, in September 2024, Gallagher testified before the U.S. House Financial Services Subcommittee on Digital Assets. There, he criticized the SEC’s handling of digital asset regulation. He stated that the SEC’s “regulation by enforcement” approach fosters “innovation-killing federal regulatory uncertainty,” which negatively impacts American consumers and the U.S.’s competitive position in digital asset markets.
As for Mr. Atkins, he has previously commented on the SEC’s proposed cryptocurrency accounting standards, suggesting that the Commission needs to update its regulations concerning the custody of digital assets. He advocated for clear guidelines rather than relying on staff accounting bulletins.
Exact policy remains to be seen, but crypto investors can expect a more friendly approach from officials in Washington, D.C. With major financial backing from firms like Andreessen Horowitz and platforms like Coinbase, the crypto industry is positioned for long-term political influence. Leaders emphasize a need for consistent investment and legislative engagement to secure favorable conditions for their growing market. Critics, however, warn of the risks posed by such concentrated lobbying power on regulatory outcomes and consumer protections.
14th November
Bitcoin Hits a New All-Time High
Bitcoin and a number of other cryptocurrencies are riding high after a huge price increase in the wake of the U.S. elections. The value of a single Bitcoin hit over $90,000, a high that has never before been seen. Earlier this year, Bitcoin was flirting with the $70K mark, but the last time it was climbing to anywhere near vicinity (before this year) was 2021.
Could $100K be possible? Once upon a time, even $1 was thought crazy, as were $10, $100, and $1,000, each in turn. By the time Bitcoin hit $10K, investors knew that it was time to throw certain assumptions out the window.
The surge of optimism has hit other digital currencies as well:
- Ether is up 2% (after experiencing a 30% increase over the past week), bringing its value back above $3,000.
- Cardano’s DeFi token is up by 1.7%
- Dogecoin continued its climb, increasing by nearly 8%
- In the equity markets, Coinbase’s shares rose 15%, and MicroStrategy went up 12%.
What’s the Cause of the Surge?
Unless you’ve been living under a very, very large rock, you know that Donald Trump just won the U.S. presidential election. He has been quite positive about the prospects for crypto in his upcoming administration in 2025. In fact, he has pledged to make the U.S. a global hub for crypto. His campaign pitches included support for mining all bitcoin within the country and creating a more favorable regulatory landscape. And while Trump lacks the power to directly oust U.S. Securities and Exchange Commission Chairman Gary Gensler, he vowed to challenge Gensler’s stringent regulatory stance on crypto.
Will Positive Projections Come True, or Are We Overhyped?
Analysts predict that a crypto-friendly approach in a new administration could provide regulatory clarity and boost investment flows into digital assets. Citi strategist David Glass noted that crypto has become a strong “Trump trade,” pointing out significant investment in spot Bitcoin and Ethereum ETFs in the days following the election. These inflows, totaling $2.01 billion for Bitcoin and $132 million for Ethereum, reflect some serious investor optimism.
Bitcoin is projected to continue climbing, with some analysts suggesting it may reach the $100,000 milestone by the end of the year. The overall sentiment quite clearly shows that the market is expecting a transformative regulatory shift favoring digital assets.
What will actually happen is anyone’s guess.
4th November
Big Token Unlocks Ahead for Celestia and Other Cryptocurrencies
Big token unlocks are coming, and the projected effects are causing some investors to gird themselves for volatility. Token unlocks mean an increase in the available supply of a given cryptocurrency, and this can lead to heightened transaction activity and price movement.
Let’s hit the basics first before we get into the specifics of the upcoming unlocks.
What Technically Happens in a Token Unlock? Who Gets Them?
A crypto token unlock is actually a scheduled event that is known about long beforehand (thus, we can write up news articles like this about unlocks that are on the horizon). Tokens that need to be unlocked have already been created but have been set aside for certain groups and are not available for trading.
These tokens are usually reserved for the project team members, early investors, and other advisors of a given cryptocurrency project. Tokens are essentially a reward for long-term employees and managers, functioning a lot like stock options vesting in a traditional corporation. When tokens unlock, recipients can choose to sell or hold, and this is where the impact on token price comes from.
What Unlocks Are Coming Up?
In the near term, there’s going to be around $1.5 billion worth of assets entering circulation across several popular crypto platforms.
- Celestia (TIA) will unlock 180 million tokens, which is around 20% of its total supply.
- Sui (SUI) will see a release of 64.2 million tokens, amounting to around 5% of its supply.
- Solana (SOL) will gradually unlock certain quantities of tokens and just unlocked about $75M worth in October 2024.
- Smaller tokens like MEME, ZETA, and Worldcoin also have scheduled unlocks.
What Is the Usual Impact of a Token Unlock?
A token unlock increases the circulating supply of a cryptocurrency, which can create short-term selling pressure. People who have been waiting for their tokens to become liquid can quickly take advantage of their newfound capability. That is, the influx of coins and related sales can reduce the token’s price, especially if demand doesn’t rise along with it.
However, the impact varies by project. For all we know, some of the holders may simply sit tight and wait for future price growth to increase the value of their investments. This is especially likely if the project has long-term potential or strong community loyalty. A well-anticipated unlock can also be fairly boring if traders have already factored it into the market long ago.
No Unlocks for Bitcoin
Bitcoin doesn’t have “token unlocks” in the way many other cryptocurrencies do since it wasn’t designed with locked or vested tokens. However, similar events – such as large holdings being sold by early miners, major investors, or other custodial services – can affect Bitcoin’s price. Typically, when a substantial amount of Bitcoin is introduced into the market, it can create downward pressure, though Bitcoin’s deep liquidity often absorbs these events better than smaller tokens.
Bitcoin has experienced “splits,” however, technically known as “hard forks,” which create new cryptocurrencies from Bitcoin’s original code but with modified rules. Two well-known examples are the creation of Bitcoin Cash (BCH) in 2017 and Bitcoin SV (BSV) in 2018. These forks created separate chains, each with its own tokens, while Bitcoin itself continued unaffected. Unlike token unlocks, these events didn’t directly increase Bitcoin’s supply but instead resulted in new, separate assets.
What’s the Bottom Line?
For the coins in question on the upcoming unlocks, the market is likely to see some trading shifts. How drastic they will be is anyone’s guess. If you’re holding any of those coins, you can get out now rather than ride the waves. Or, you can buy in, hoping that increased supply and liquidity serve the long-term health of the platform.
Do your homework, and good luck to all our crypto fanatics and investors out there.
31st October
Business payments platform Stripe has just paid $1.1 billion to acquire Bridge, a company that facilitates customer payments in stablecoins. The move is the biggest crypto company acquisition ever. It signals a major investment in bringing crypto tech into consumers’ daily lives everywhere.
Who or What Is Stripe?
Stripe is a widely used platform that enables businesses to accept payments online, via mobile apps, and in person through a variety of methods. It can be used by major global publications to enable subscription payments, but also a retailer in your own hometown might use it to allow customers to make easier purchases. Amazon, Wayfair, DoorDash, and Shopify are all partners of Stripe and/or accept payments using the company’s technology.
Why Did Stripe Buy Bridge?
Stripe already offered global payment capabilities, supporting multiple currencies and payment methods, but this acquisition takes things into the future in a big way. Now, with Bridge software, businesses could open up the ability for customers to pay in stablecoins. Imagine using your USDT to buy a coffee and a breakfast sandwich at your favorite café. Wouldn’t that be neat? That might be the kind of thing Stripe is going for.
Of course, given their global reach, they’re making a much larger play than just giving “Main Street, USA” a fun new payment option. This is a major move to bring cryptocurrencies as a whole into closer integration with a wide variety of purchases online and off.
What Will Be the Impact?
It stands to reason that not only will this make purchasing more convenient for a ton of crypto investors, but will also bolster the value of crypto itself. Every time a company makes a big bet on the future of crypto and tries to integrate it more closely with the way companies actually operate, we all win as crypto coin holders. Crypto as an investment class is neat, but crypto as a practical store of value that can easily be exchanged for goods and services is a large part of the vision that many users and developers have been dreaming of for ages.
25th October
The U.S. Dollar Gone Digital? Financial Leaders are Promoting Futuristic Plans
If you’ve never heard the phrase “digitizing the dollar,” chances are you will soon be hearing quite a lot about it. The proposal is the subject of high-level discussions among financial leaders like BlackRock’s Larry Fink, who issued some intriguing statements recently. As major projects such as this gain steam, the crypto markets could see massive increases in attention and adoption. But there are major roadblocks to deal with along the way.
First, let’s cover the basics.
What is “digitizing the dollar?”
While cryptocurrency was originally conceived of as a way to decentralize money, digitization of fiat currency can be thought of as a way to recentralize it. A digitized dollar would be managed by a central banking authority (like the U.S. Federal Reserve). Instead of physical bills and bank accounts, it would be traded digitally, much like crypto is.
Why digitize the dollar?
The major benefit would be efficiency of exchange, as physical cash would not need to change hands. The downsides, of course, would be giving control back to centralized authorities and enabling them to closely monitor user transactions, both of which are foundational issues that cryptocurrency has sought for years to avoid. The personal freedom, privacy, and autonomy of crypto have long been a huge part of why users adopted it in the first place.
Is there reason to think the effort would be a success?
Larry Fink, CEO of BlackRock, has been quite active in promoting crypto, especially through his company’s Bitcoin exchange-traded fund. He points to the success of digital currency initiatives in India and Brazil and has predicted that similar developments could shape the future of digital finance in the U.S. While the potential digitization of the dollar raises privacy concerns and regulatory questions, Fink still believes it will become a major topic of discussion moving forward.
And, as an aside for Bitcoin bulls in the readership, efforts like these could play a part in reaching Michael Saylor’s projection of Bitcoin reaching a $100 trillion market cap (it is currently around $1.28T). It’s a serious target, believe it or not, as large institutional players like BlackRock help promote greater and greater crypto adoption. Fink’s outlook suggests that, with AI and improved analytics, Bitcoin and Ethereum could also play pivotal roles in a digitally transformed financial system.
So, what do you think? Does the dollar going digital fly in the face of everything crypto founders stood for, or is it an evolving piece of the puzzle that will take global financial networks to the next level?
14th October
Bitcoin just pulled off something no one saw coming—it had its best September in 11 years, posting a solid gain of over 7%. Traditionally, September has been a rough month for Bitcoin (nicknamed “Septembear” for a reason), but 2024 decided to flip the script before “Uptober.” The last time Bitcoin had a September this good was way back in 2013, and now crypto traders and investors are fairly excited to ride the rocket to the moon for the rest of the year.
Beating the September Slump
If you look at monthly breakdowns, it’s obvious that September usually isn’t Bitcoin’s month. Historically, cryptocurrency has taken a hit around this time of year, often sinking into the red due to market pessimism, profit-taking, and sometimes just bad luck. But this time around, things are a bit different.
What’s behind this shift? For starters, institutional interest in Bitcoin has been heating up. Big players in the finance world are starting to take cryptocurrency more seriously, and that’s translating into bigger investments. Perhaps the Federal Reserve’s 50 basis point cut and the general market rally also have something to do with it? Whatever the reason, the rally has definitely surprised many investors (in a good way).
ETF Buzz and Big Money Moves
One of the biggest reasons for Bitcoin’s strong September is the growing excitement around more Bitcoin exchange-traded funds (ETFs) in the U.S. Efforts by, in this case, BlackRock, continue to make Bitcoin more accessible to traditional investors. This has added to the bullish vibes.
On top of that, Bitcoin has been holding its ground pretty well compared to other risky assets during recent market fluctuations. As traditional markets stay rocky, more investors are turning to Bitcoin as a kind of safe haven. This adds to the buying pressure.
What’s Next?
With Bitcoin wrapping up a killer September, everyone’s wondering what’s next. The momentum could keep going, but as anyone in the crypto world knows, things can change fast. While the outlook is looking brighter than usual, it’s probably smart to keep an eye on the market and stay ready for whatever happens next.
7th October
What is Tokenization and Why Major Financial Firms Are Betting Billions on It
In the crypto world, many parties are often playing catchup. And this can include traditional giants like banks and investment firms. A new technology may be eyed skeptically or even vilified, but then, as it grows in popularity, it becomes undeniable. Even the industry’s “big boys” will then adopt it.
One of these generalized crypto technologies is known as “tokenization.”
Tokenization is a way of converting real-world assets or rights into digital tokens on a blockchain. These tokens represent ownership or a stake in the underlying asset. This can be done for real estate, stocks, bonds, commodities, or even intellectual property. By tokenizing assets, it becomes easier to transfer, trade, and manage them in a way that gains the advantages of crypto platforms. The trading becomes decentralized and potentially more secure.
BlackRock, a major global investment firm with trillions under management, is making waves in tokenization this year. It’s using its USD Institutional Digital Liquidity Fund to back a new stablecoin, UStb. Crypto investors may already know USDT (Tether), which serves a similar purpose. UStb is another key move in tokenized finance, allowing traditional assets like U.S. Treasuries to be digitized through the Securitize platform and integrated into the crypto world.
Old meets new, essentially.
Earlier this year, BlackRock invested $47 million in Securitize. This shows its belief in the long-term potential of crypto and tokenized assets. BlackRock CEO Larry Fink’s view on Bitcoin has also evolved. Once a strong critic of cryptocurrency, Fink now calls Bitcoin “digital gold” and a valid financial tool. Shifting views and increased support from big market players have boosted Bitcoin and other crypto values this year. The excitement around BlackRock’s Bitcoin exchange-traded fund (IBIT) shows the connection between industry giants and crypto’s steady rise.
The value of tokenized assets is nearing $120 billion, with Ethereum accounting for 58% of the market. The potential for growth is huge. Boston Consulting Group estimates tokenized assets could reach $16 trillion by 2030. The World Economic Forum suggests that 10% of global GDP could be affected by tokenization.
In the future, crypto might evolve beyond just being a medium of exchange. It could become a primary ledger for recording ownership of almost any asset.
30 September
A Trading Card Pull Worth Over $60K in Crypto?
Many people have felt the exciting rush of opening a pack of trading cards. As you shuffle through the deck, the possibility of finding a super rare card is an electric thrill, a lot like what you’ll find in our casino.
But a $60,000+ pull? That’s something truly off the charts.
That’s exactly what a GameStop customer and Redditor recently found in a pack of Cardsmiths Currency Series 1 trading cards. The packs are quite pricey, and this one cost $33. The cards are not a new issue. In fact, they were launched in 2022. The packs are full of cards with cryptocurrency influencers, memes, and randomly inserted redemption codes for Bitcoin, Ethereum, Litecoin, and Dogecoin. Most of these are for small values, but the one pulled by this customer was for a full Bitcoin!
At the time of this writing, a Bitcoin is worth $63,498.70, making this one of the nicest pulls you could ever hope for. It’s no Magic the Gathering Black Lotus, but it’s up there. The crazy thing is, when this series was first issued, the value of a Bitcoin was only around $16,500. It had come down from the peak attained in 2021 after the first massive run up. The card packs were issued in a bit of a price trough, from which we have since recovered.
There are five total full Bitcoin cards available in Series 1. This means that there may still be one out there to be redeemed, so this news will likely spark some interest in buying cards (here’s a GameStop store locator, if you’re feeling lucky). It seems a little bit like the search for the golden ticket in Charlie and the Chocolate Factory, doesn’t it?
For older trading card fans, this story likely is a bit of a shock. Selling cards with crypto prizes is a bit of a new thing. If you’re going to wade into it, just know that crypto redemption codes are available in about 1 in 96 packs for this series. And the codes you typically get are of a more modest value.
GameStop continues to thrive at the bizarre intersection between video games and investment markets. Shares are up 18% this year, and CEO Ryan Cohen is also empowered to buy and sell equities and crypto with company funds. We don’t know what’s next for GameStop, but we DO know that fans will probably be buying them out of the remaining packs of Cardsmiths Series 1 very soon.
13 September
Explore Rising Crypto Opportunities Beyond Bitcoin
While Bitcoin has experienced a dip of nearly 8% this month, many savvy investors are now exploring alternative cryptocurrencies with strong growth potential. Sure, you could buy the dip (especially after last week’s article on the possibility of U.S. Federal Reserve interest rates dropping), but for those eager to diversify, here are some exciting opportunities to consider in the next quarter.
Layer 1 Investment Opportunities
In the world of blockchain and cryptocurrency, technology is often thought of in layers. Layer 0 is the foundation blockchain itself. Layer 1 includes key implementations like Bitcoin, while Layer 2 involves third-party technology aimed at scalability.
If you’re looking to escape downturns in leading coins, two Layer 1 investments stand out for this fall:
Aptos (APT): A proof-of-stake blockchain, Aptos uses a unique smart contract programming language called Move. This tech is rapidly advancing Web3 adoption, supported by major players like Coinbase and Binance. With its total value locked (TVL) growing by 375% over the last year—now sitting at $573 million—APT is poised for significant growth. Aptos currently holds a market cap of nearly $3 billion, making it a strong candidate for potential multiples in the coming year.
Avalanche (AVAX): Aiming to help Ethereum scale, Avalanche boasts high transaction speeds and low fees—backed by leading investors. Though 9.5 million tokens were unlocked last month, upcoming unlocks will be significantly smaller, keeping supply in check. With a current market cap of $8.6 billion, AVAX still has room to grow for those looking to get in early.
Layer 2 Opportunity: Myria and NFT Gaming
If you’re into NFTs, Layer 2 projects like Myria are creating exciting ecosystems, particularly for gamers. Myria has caught attention through partnerships with prominent communities like Neo Tokyo and its cricket-themed game, 360 Cricket, developed with pro cricketer AB De Villiers. As an ERC-20 utility token, Myria offers zero gas fees—making it an appealing option for those watching their costs. Just keep in mind the 2027 unlocks before jumping in.
SUN Token and Tron’s Rising Potential
We’ve previously discussed Tron and its decentralized exchange platform SunSwap, which is powered by the SUN token. This token offers an impressive TVL of $800 million and generates a daily volume of $200 million. Plus, with over $300,000 in fees collected daily, SUN is a strong investment as Tron continues its upward trend. Investors are already making moves to take advantage of potential multiples in the months ahead.
Stay Positive and Explore Crypto Growth
The broader crypto space is full of opportunities. From Layer 1 and Layer 2 technologies to tokens like SUN, there are many ways to stay optimistic and make smart investments. Remember to always do your research before investing, but these picks are a great starting point.
6 September
Ever Used a Bitcoin ATM? They’re Probably Already In Your Town
The ATM has been helping people get quick access to cash for decades, but in the digital era, a new convenience has sprung up: the Bitcoin ATM.
First offered in Vancouver, Canada in 2013 in a coffee shop, these machines have exploded in popularity to become available in nearly 70 countries worldwide. In fact, there are more than
38,000 currently deployed, with the number increasing by the day. Most are in America, but others can be found in countries throughout Europe, as well as machines in Australia and Asia.
One of the criticisms of crypto is the challenges users face when attempting to use it for regular daily transactions in real life. Crypto ATMs are a very helpful way to enable folks to exchange their crypto for cash when they need money in hand. Even though much of the developed world has switched to using credit and debit cards for routine in-person transactions, there is still a need for cash, and crypto ATMs open up a much-needed avenue for consumers to obtain it.
You don’t have to be a tech wiz to use one. You just need to identify your digital wallet to the machine with a scannable QR code or wallet address. After that, you can trade money for crypto, exchange crypto back into money, or even get out cash. It’s a highly convenient way to make use of your digital currency when you’re not at your computer. Bitcoin ATMs are also helping in places where traditional money and mainstream ATMs are not highly accessible, thus bringing a new financing option to many around the world.
Crypto ATMs are growing and becoming integrated with new platforms. These ATMs began with simply trading dollars (or other fiat currencies) for Bitcoin. Now they support other leading popular options like Bitcoin Cash, Ether, and Litecoin. Additional features are being rolled out as well – better interfaces, tighter security, and support for more currencies. Find one near you and try it out just for the novelty – you might be surprised at how simple they are to use.
26 August
Tron Leads the Charge – The New ‘Memecoin’ King of Crypto Fees?
Move over, Ethereum and Solana – there’s a new sheriff in town. Tron’s daily fee revenue now puts it ahead of both of these leading crypto options.
But where did it come from? Did it appear out of nowhere?
Launched in 2017, Tron has grown over time to become one of the major cryptocurrencies to follow. It was originally created by a Chinese entrepreneur named Justin Sun as a token on the Ethereum blockchain. Thereafter, in 2018, Tron gained ground and split off onto its own platform. Since then, Tron has kept growing, expanding in part thanks to deals like the purchase of BitTorrent (a file sharing service). The main advantages are high throughput and low fees for transactions, which have helped bring users into the fold. Tron has also been a big part of activity in DeFi and NFTs, although the craze has died there somewhat since the peak in 2022.
Now, Tron is up around 18% in price over the past month and is generating more fee activity than ever before, reaching $3.84M in fees in a single day. This is due largely to the SunPump memecoin generator. A memecoin generator is a platform that allows users to create and deploy new coins on a given network cost effectively. This means that people who want to launch a new crypto on the Tron blockchain can do so rapidly and with little barrier to entry. The result is a ton of new coin activity and a healthy fee bump for Tron, which surged ahead of Ethereum’s $1.36 million and Solana’s $541,000 in daily fees recently.
This is not the first time SunPump has lent a helping hand to Tron. Since its inception, SunPump has generated over 8.4 million TRX in revenue, which is worth around $1.39M. The previous peak was on August 20th of this year, where 2.78M TRX were earned (roughly $400,000). This came on the back of the launch of over 6,000 new Memecoins.
Sun has remained a big promoter of his coin and has helped make the most of its memecoin potential. Tron is also a stablecoin supporter, with large amounts of Tether issued on the platform. With nearly $60 billion in stablecoins, Tron has the second-largest supply in the market. So, it’s not only a new coin supercharger but also a stabilizing force in the industry as a whole. Not a bad play if you’re looking for a coin that is going to play a big role in the future of cryptocurrency from multiple angles.
Early adopters of the memecoins on Tron are already seeing crazy returns. As of this writing, we can see one trader up around $20 million thanks to a purchase of SUNDOG tokens for $1,690. The gain took around a week to produce. After selling around a million in tokens, the investor is still holding the lion’s share of the position.
Looking for new coins, hot activity, and a chance at eye-popping profits? Check out SunPump and Tron.
15 August
Ethereum Leads the Charge: Crypto Investors Bet Big After Market Dip
Ethereum just pulled off a major power move in the crypto world, and it definitely caught the attention of our crypto investors and players. While Bitcoin usually steals the spotlight, Ethereum has stepped up this past week, taking the lead after a recent market shakeup that had some investors too terrified to look at pricing charts. But instead of backing off, some saw an opportunity and pumped a massive $155 million into Ethereum in just one week. This surge is a game-changer, shifting the dynamics of the crypto market quite significantly.
So, what’s going on? The crypto market recently took a hit, with total capitalization dropping by billions. (Take a look at the global charts here and click the “1m” button to look back over the past month.) But things bounced back, with the market now sitting at a decently recovered amount. Ethereum has been the star of the show, with its trading volume in derivative products hitting $19 billion, way above the more average $14 billion. This huge capital injection has not only boosted Ethereum but has also breathed new life into the whole crypto scene.
Part of Ethereum’s newfound appeal comes from the launch of spot-based exchange-traded funds (ETFs) in the U.S. this summer, making it a hot pick for investors. And it’s not just Ethereum riding this wave—Bitcoin also made a comeback. After a rough week, Bitcoin saw $13 million in net inflows, showing that interest in the top crypto isn’t fading. Plus, there’s been a big pullback from short positions on Bitcoin, with $16 million in outflows, the most since spring of last year. Looks like those betting on a continued price drop are rethinking their strategy.
It’s not just the big players like Ethereum and Bitcoin getting all the love, either. Secondary cryptos like Solana, XRP, and Cardano are also seeing a surge in interest, with inflows of $4.5 million, $0.7 million, and $0.6 million, respectively. This trend shows that the recent market dip is being viewed by many as a chance to buy in, not bow out.
What’s really interesting is that this surge in optimism is global. Sizeable markets outside the U.S. like Switzerland and Brazil are in on the action, with each region making significant contributions. This worldwide confidence in crypto suggests we could be on the brink of a new growth phase, despite the recent bumps in the road. So, for those keeping an eye on the markets, it might be time to start thinking about where Ethereum—and the rest of the crypto world—is headed next.
9 August
Crypto Prices Tumble While Some Investors Buy the Dip
What a week it was in crypto news! The digital markets are still reeling from a pricing earthquake that sent Bitcoin prices down over 16%, falling from around $68,000 to lows near $49,000. Similar losses occurred with Ethereum prices ($2,900 to $2,200) and Litecoin prices ($65 to $50), just to name a few. Coin pricing was down across the board, with some coins still yet to recover.
These losses also hit the stock prices of companies like crypto exchange Coinbase and the tech company MicroStrategy, both of whose fortunes rise and fall with the price of crypto coins. (MicroStrategy famously holds a significant position in Bitcoin as an internal “treasury” holding it considered superior to cash in some respects).
The volatility came on the heels of poor U.S. government jobs data published in a July report. Unemployment was up about a percent to 4.3%, and the economy only added around 100K jobs in a month. These figures, not as strong as some had hoped, clearly sparked investor recession worries. Major indices fell significantly, with the S&P 500 decreasing by more than 6%, and the Dow Jones Industrial Average losing 2,000 points. The broad sell-off was possibly at its worst in Japan, which officially entered a bear market after its worst single day of trading since the late 80s.
There is, however, some good news amidst all this price reduction. Some investors are definitely seeing this as an opportunity to purchase assets at lowered prices and accordingly are “buying the dip.” The major crypto exchange Binance has seen a net inflow of $2.4B, but it is important to note that most of this movement was into stablecoins like Tether and USDC which can help buyers weather volatile markets. Observers also noticed that institutional investors like BlackRock, Grayscale, and Fidelity appear to be increasing their positions in crypto, not decreasing them.
Crypto prices are expected by some experts to recover in the long term. Investors who can afford to increase and maintain their positions will likely see gains if they hold their coins for enough time. But the question, as always, remains: How much volatility will we see along the way? If the past week is any indication, the simple answer is: a lot.
Keep up with the ever-changing world of crypto. Check back every week for fresh insights and news at mBitCasino. Don’t miss a beat in the crypto market!
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