But wait, there’s a twist! 🎭 This feast of BTC comes right after a month-long diet of selling. 🥗 Why the sudden appetite? Well, Bitcoin’s price is hovering near a major support level, and these whales smell opportunity like a shark smells blood in the water. 🦈💸
As it stands, the ZCash market cap has ballooned to a not-so-petty $10.1 billion, while trading volume is at $1.8 billion. It’s like the crypto world is throwing a party, and ZEC is the guest of honor – but only because it has the best snacks. Privacy coins are finally in the spotlight, and ZEC is doing the cha-cha in front of the cameras while others are still figuring out how to dance.
According to blockchain sleuths at Lookonchain, a SharpLink-linked wallet yanked out 5,284 ETH (worth ~$17.52M) and then sent 4,364 ETH to OKX. The remaining 791.07 ETH? Still chilling in a wallet, probably judging its sibling ETH for being so dramatic. 🚨
Imagine a world where one trader is also many traders, each pretending to be interested, each pushing up the numbers like a kid blowing into a birthday cake. About 25% of all transactions-so says Columbia, with a hint of sarcasm-were just the same person playing both sides of a game, turning polished numbers into a glittering, empty spectacle.
In their latest weekly report-which I’m sure was penned with a quill and ink for that extra touch of gravitas-Glassnode has been clucking about how Bitcoin has taken a nosedive below the short-term holder (STH) Realized Price. Now, don’t let the fancy lingo fool you. The “Realized Price” is just a highfalutin way of saying, “What did the average Joe pay for his Bitcoin?” 🧐
As the U.S. Treasury shuffles papers like a librarian who’s lost her glasses, Coinbase has tossed its hat into the ring with a proposal that’s either brilliant or utterly bonkers. In a November 4 submission, the crypto giant urged that payment stablecoins be classified as cash equivalents under the GENIUS Act. Because nothing says “innovation” like treating digital assets like Monopoly money.
XRP tried to put on a brave face with a mini recovery above $2.25 and $2.30. It even had the audacity to aim for a push above $2.40, but no – it couldn’t quite manage to clear $2.42. Classic overachiever.
Thus, an earnest survey conducted by the AIMA and PwC – two establishments one assumes are employed – reveals that no fewer than 55% of traditional hedge funds now dabble in these ethereal currencies, a climb from a merely embarrassing 47% in 2024. One sniffs at the implications.
– Ethereum, that most fickle of lovers, has embarked on another bearish romp after a brief dalliance below $3,450. A tragedy of epic proportions, if you’ll pardon the hyperbole.