Instead of earning tokens outright, these naive adventurers amass invisible tokens—more fleeting than your last paycheck—hoping they might someday unlock airdrops, early access, or some vague future token launch that’s as real as the spoon-fed promises of a con artist. It’s loyalty mixed with pure speculation, a new kind of gold rush for those early enough to stumble into it. And oh, how they scramble! 💸🤡
But why, you ask, has this sudden spike occurred? Well, my friends, as investor interest climbs higher than a cat on a sunny day, on-chain data whispers sweet nothings about a potential continuation of PENGU’s upward momentum. 📈
Yesterday, however, was no ordinary day. No, not at all! The White House, ever so formal and occasionally distant from the digital world, decided to sprinkle some recognition on Ondo Finance. Yes, through the President’s Working Group on Digital Asset Markets, Ondo was officially applauded in a new report. A report that posits tokenized securities, stablecoins, and programmable settlements as the pillars that will hold up the future of the global financial system—and look who’s leading the charge? None other than our dear Ondo! 🎉
Basically, this means people can hurl their digital coins around on all these networks or, for those who like a good old-fashioned flex, convert those balances to regular “boring” money. Visa says it’s “making crypto easier,” which is code for “We’d also like a piece of this outrageously complicated pie, please.” 🍰
Ah, Tether, the proud parent of USDt (USDT), that stablecoin which clings to the US dollar like a toddler to a parent in a crowded mall. Backed by US Treasurys and cash equivalents, it reigns supreme, holding a whopping 61.7% of the stablecoin market, with a market cap that could make even Scrooge McDuck raise an eyebrow—$164.5 billion, to be precise.
Our buddy Eric Balchunas over at Bloomberg is calling it “a plumbing fix.” I mean, wow, how glamorous! 🥳 It won’t really change how your average Joe interacts with these fancy crypto exchange-traded funds. He’s basically saying, “Hey, retail investors, you’re still not getting your grubby hands on actual bitcoins with this move, but look! The SEC is finally treating crypto like a grown-up asset class!” Yay? 🎉
Ethereum Name Service [ENS] was seen fluttering at $28.63 on a day that favored the hopeful. As of this moment, it had gained a mere 1.3%, which in the grand hierarchy of gains, is like a modest handshake—a sign of life, maybe even hope. The altcoin’s market cap stands proudly at $1.04 billion, a number perhaps inflated by dreams.
Trading volumes are doing their thing, moving averages are moving (shocker!), and momentum indicators are being watched more closely than a reality TV star’s Instagram. 📈 At the moment, the MACD signal is weaker than a decaf latte, and UNI is hovering around $10.13, looking about as decisive as a toddler in a candy store. 🍭
In a thread as convoluted as a Gogol plot twist, Martinez reveals that the short-term holder (STH) cost basis model—a metric as mysterious as Akaky Akakievich’s overcoat—suggests Bitcoin could leap by 19% from its current vale. “As long as $105,450 holds,” he crows, “Bitcoin might waltz to $125,230, or even $141,770!” 🕺💸
By late July, those clever folks who realized their gains triumphed to a staggering $6 to $8 billion—almost enough to buy a small country—or at least a decent mansion. These peaks, oh, how poetic, danced on the edges of tops in March and December 2024, according to that fancy onchain analytics firm CryptoQuant. It’s all about the timing—like a bad joke waiting for the punchline.
