jpyxx By the end of the second quarter, our dear Michigan Retirement System had amassed a rather impressive 300,000 ARKB shares, valued at a delightful $10.737 million, as per the latest whispers from the US Securities and Exchange Commission (SEC). Quite the leap from the paltry 110,000 shares they clutched last year, wouldn’t you say? 📈
If this all feels a bit deja-vu, it’s because last year the regulators delivered a knockout blow to Binance-booted straight off the islands with users given a dramatic 90-day ticking clock to kiss their digital stashes goodbye. Honestly, it played out like a slapstick action movie. 🍿
For those of you not yet acquainted with this marvel, allow me to summarize:
In a recent epistle on the ever-chattering platform X, the on-chain oracle Glassnode has deigned to enlighten us about the latest pas de deux in Bitcoin’s Cost Basis Distribution Heatmap. This, my dear reader, is a map of financial folly, revealing at which price points the hoi polloi acquired their precious coins. In the arcane world of on-chain analysis, this is considered a matter of grave importance, for investor behavior, like a melodramatic actor, becomes most pronounced when the cryptocurrency dares to flirt with its acquisition price. 🎭
August looms, heavy with anticipation. Will XRP don its dancing shoes again, or has the orchestra packed up for the night? 🎻🌙 Only time-and perhaps a bit of Chekhovian irony-will tell.
On August 2nd, Hayes graced the X platform (formerly Twitter) with his presence, delivering a warning so dire it could give even the most stoic investor hives. He foresees Bitcoin plummeting back to the $100,000 mark-a drop of nearly 20%. Can you imagine? One moment you’re sipping champagne atop your crypto gains, and the next, you’re rummaging through bargain bins for discounted truffles. 🍾➡️🍫
And guess what? People are throwing their money around like it’s Monopoly cash. Trading volume shot up 40% in a day. That’s right, 40%. Big players-big whales-are making moves. Whale wallets transferred more SHIB than you could count-870% more, no less. You think they’re just big fish splashing around? Nope. They’re eyeing the prize, and the prize might be a nice little pump.
Behold, the altcoins, those faithful courtiers, followed their sovereign into the abyss, abandoning their fleeting glory. Is this but a brief interlude in the grand altseason opera, or has the curtain fallen for good? The question hangs in the air like a malodorous cloud over a Gogolian village. 🌪️🤡
But wait, there’s more bad news! (Because why stop at one plot twist?) The taker buy/sell ratio-a fancy way of saying “who’s boss in the trading world”-has nosedived into negative territory. Sellers are flexing harder than Dwayne Johnson on leg day, leaving buyers crying into their spreadsheets. Today’s reading hit 0.87, which is basically the crypto equivalent of showing up to a party wearing socks with sandals. Awkward.
Anyway, Bullish, that crypto exchange run by some folks who probably know more about blockchain than about everyday life, has officially entered the ring with the SEC. They’re planning to sell 20.3 million shares at a “bargain” price of $28-$31 each. Looks like they’re trying to raise up to $629 million-because apparently, crypto companies think money grows on blockchain. 🌱
