Nate Geraci, the so-called “President of NovaDius Wealth Management,” predicts a standardized crypto framework. “A wave of approvals,” he says, “and a boatload of new crypto ETFs.” Ah, the sweet scent of optimism! But will the SEC play along, or will it rain on this crypto parade? 🌧️🎪
According to the ever-reliable Lookonchain data, after a decade-long hibernation that would make even a bear envious, this particular ETH ICO participant has decided to rouse himself and transfer a staggering 334.7 ETH. Now, let’s not forget that back in 2014, Ethereum was as cheap as chips, with our intrepid investor acquiring his coins for a mere $104. Talk about a bargain! 🤑
Now, before anyone starts buying matching ether-shaped hats: Yes, Bitcoin did throw a wild party, hitting an eye-watering $124,128 (so much FOMO), then fainting on the bathroom floor and dropping 5% to $117,900. Meanwhile, Ethereum was this close-literally 1.94%-to smashing its ancient (2021-era) high of $4,878. Alas, like my last Tinder date, it got nervous and retreated to $4,448. Typical.
Last Friday, the Federal Reserve announced it was retracing its steps and ditching the “special supervision” program made specifically for crypto and fintech activities. Yes, after two long, hard years of pretending to understand what a DeFi protocol is, it’s more or less saying, “You’re on your own, tech wizards.”
It appears the SEC, that tireless guardian of investor well-being (and bureaucratic overreach), has submitted a status report to the Court of Appeals. A report, brimming no doubt with the thrilling details that both parties have filed a ‘Joint Stipulation of Dismissal’ for their respective appeals. Pending, naturally. One doesn’t simply dismiss things with a flourish, you see. That would lack a certain…dramatic tension.
For weeks the charts lay motionless, like prisoners whispering behind cold stone, but now-volatility thrashes in the order book.
Why this sudden urgency, you ask? Because, dear zeks of Ethereum, a 768,400-ETH herd-$3.5 billion of misallocated hope-is queued at the gates of the unstaking Gulag. The validator queue alone is a two-week frostbite, followed by a nine-day “sweep delay,” which in plain Gulag tongue means: big door in, tiny mouse-hole out.
On August 14, Ethereum ETFs recorded yet another day of inflows-nearly $640 million, according to the ever-reliable statisticians at SoSoValue. BlackRock, ever the ringmaster, took the lion’s share with a princely $520 million, while Grayscale and Fidelity followed modestly behind with $61 million and $57 million respectively-like courtiers vying for favor. 😏
With grand aplomb, the whales – those magnificent crypto leviathans – choose whimsically to part ways with their substantial hoards of XRP, further stirring the tempestuous seas of the market.
This little shopping spree isn’t just about showing off; it’s a bold statement that WLFI is all in on the crypto game. They’re doubling down on Bitcoin and Ethereum, two of the biggest names in the digital currency world. It’s like saying, “We believe in you, crypto, even if you give us whiplash with your volatility.” 🙃