Currency Forecast

Hyperliquid (HYPE) is trading at $47, creeping ever so closely to its peak of $50. After a 20% nosedive earlier this month, the token has clawed its way back from the $34-$35 range, now poised above the $44.70 support level. Market sage McKenna opines that the surge is “led by spot buying” with the AF (Activity Factor) ratio above 5%, signaling that sellers have run out of steam. He also forecasts “more than $5 million per day in buybacks” to soak up the supply above $50 in the coming weeks.

In follow-ups, our dear Burniske elaborated with the precision of a Noël Coward quip. “The crazier the price action, the higher my conviction,” he purred, as if selecting the perfect cravat for a soiree. Should the market accelerate into August-September-October, his “conviction” in an October peak becomes as unshakable as a Coward wit. But, he cautions, should the market pull back, “we might extend this bull for longer.” Oh, the drama! 🎭💸

So, $BTC climbed to $124,501 in the wee hours of the morning, just *barely* edging past its previous high of $123,217. But let’s be real, it’s not about the margin – it’s about the *moment*. 🎉 And this moment is screaming, “Rate cut incoming!” 🤑

Here, in the gloom of digital exchanges, where risk lurks behind trading screens, the Copper integration offers a peculiar kind of sanctuary: clients may now clutch their gold off-exchange, yet barter with wild abandon. A fragile safety, perhaps-a mockery of true trust-replacing collateral with the hollow echo of “control.” Falconx’s DMA, a single door into the world’s clamorous markets, lets traders imagine their assets are theirs, while the real custodians-let’s not kid ourselves-remain the exchanges, waiting, always waiting. 👀

Oh, Donald Trump! Who knew that the man who once only had to worry about his hair would become a crypto king? 🕶️ Since 2022, Trump’s crypto journey has transformed into a multi-billion-dollar enterprise, with The New Yorker reporting that he has raked in a cool $2.4 billion from various blockchain-linked ventures. 🚀

On a rather unremarkable Wednesday, a16z and the DeFi Education Fund, in a display of camaraderie that would make even the most stoic of hearts flutter, dispatched a letter to the esteemed SEC Commissioner Hester Peirce. They implored the regulatory body to grant an exemption to dApp developers from the burdensome rules that govern broker-dealers. Ah, the sweet scent of freedom wafting through the air! 🌬️

So, naturally, Eric, in his infinite wisdom, has turned to Ethereum like it’s the financial equivalent of a trendy avocado toast. 🥑💸 Because, of course, when the banks slam the door in your face, why not just become your own financial guru and start promoting cryptocurrency as if it’s the solution to world peace? 🤷‍♂️

The 14-page complaint, filed with all the drama of a courtroom thriller, alleges that this saga started when Bloomberg, apparently looking to add a bit of spice to its Billionaires Index (which, by the way, tracks the world’s 500 richest people-nothing too impressive, just 500 people who could probably buy your city), wanted Sun’s financial secrets. Sun agreed to spill the beans only after Bloomberg promised, in writing and over coffee or whatever, that his crypto holdings would remain top-secret. Cross our hearts and hope to be hacked, right?

Market data, that ever-watchful guardian, reveals that traders are peering through their crystal balls at this price point, recalling its significance during the melodrama of July. Recent musings from the illustrious CryptoQuant contributor, Arab Chain, unveil that Bitcoin’s open interest (OI) on Binance has ballooned to a staggering $13.7 billion, inching ever closer to the highs of mid-to-late July. Oh, the suspense!

These rather enlightening metrics from 2024 reveal a rather amusing divergence between Litecoin’s potential and its current market cap. One mustn’t forget that Litecoin is practically the elder statesman of the altcoin family, having been birthed shortly after Bitcoin. The number of transactions on the Litecoin network is a mere half of those on Bitcoin’s illustrious platform. Now, while a higher transaction count does not necessarily equate to a more valuable asset-after all, Bitcoin still reigns supreme in the USD transaction volume and as a store of value-it does suggest that the Litecoin blockchain is, at the very least, not gathering dust.