Markets

At one of Berkshire’s world-famous annual shareholder meetings in Omaha during the late 1990s, Munger said, “The first $100,000 is a b——, but you gotta do it.” “I don’t care what you have to do. If it means walking everywhere and not eating anything that wasn’t purchased with a coupon, find a way to get your hands on $100,000,” he noted. So far, in the Bitcoin economy, there are over 450,000 BTC addresses that hold Bitcoin worth $100,000 or more at current crypto exchange...

Forget everything you know about meme coins – Pepe Unchained is ready to shake things up. This Layer-2 meme project is attracting attention and has raised $7.8 million in presale. And with a DEX listing on the horizon, many believe Pepe Unchained (PEPU) is about to take off. Layer-2 Networks Act As Crypto’s Fast Lane Imagine trying to swap some tokens just as the market goes wild – suddenly, your transaction fees are through the roof. That’s where Layer-2 networks come in....

Two years after filing for bankruptcy, Celsius is trying to recover some funds by suing Tether for an alleged wrong liquidation of more than $800 million worth of BTC (at prices in mid-2022). The stablecoin issuer was quick to respond, calling the lawsuit a “baseless shakedown” and promised to fight for a win. Celsius Goes After Tether The lawsuit, filed on August 9 in the US Bankruptcy Court for the Southern District of New York, alleges, among other things, that Tether...

New York Judge Peter Castel of the US District Court ordered the defunct crypto exchange FTX and sister firm, market maker Alameda Research, to reimburse defrauded creditors by $12.7 billion. The suit was brought by the Commodities and Futures Trading Commission (CFTC) on December 21, 2022, and finally concluded on August 8, providing respite to those who lost their funds during the FTX collapse. The court found that “the FTX Entity Defendants commingled assets and freely used assets...

Following a significant drop to the crucial support region of $0.43, Ripple encountered increased buying pressure and saw a substantial surge, pushing the price back above the 100 and 200-day moving averages. This recent action has left market participants uncertain about XRP’s overall direction, with the upcoming movements likely providing clarity. By Shayan The Daily Chart An in-depth look at Ripple’s daily chart shows that after a sharp decline below the 100 and 200-day...

Jump Trading’s crypto vertical Jump Crypto unstaked and sold another 11,501 ETH worth $29 million, leaving it with another $63 million to sell. Out of the $63 million, it has already unstaked $48 million of ETH in preparations to sell. The market maker was heavily called out for unstaking and moving its ETH to exchanges over the past weekend as crypto prices dropped tremendously due to macroeconomic factors. Such large amounts sold by those with significant holdings add tremendous selling...

This week saw one of the most dramatic crashes in the cryptocurrency market—one that we hadn’t seen since the collapse of FTX in November 2022. What is even more interesting was the epic recovery of the majority of coins in the following days. Ultimately, the market ended up losing some $70 billion of its total capitalization, but it could have been much, much worse. Starting with Bitcoin, in the early days of this week, its price nosedived below $50K, losing more than 20% in...

TL;DR An investor spent $916,000 on a Trump-related meme coin (RTR) driven by FOMO, only to lose almost everything when the coin’s value crashed shortly after. While some traders incur losses due to FOMO, others who enter the market at the right time can make substantial gains. However, the meme coin market remains highly dangerous and investors should be extra cautious when diving in. The FOMO Effect Meme coins have been among the highlights in the crypto space in the past...

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