Overall, Sui is doing the crypto equivalent of building a five-star resort while guests complain the pool temperature is off by 0.7°. DEX volume is popping, TVL is on steroids, and institutions are lining up like it’s Black Friday-yet the price chart looks like it’s stuck in an elevator with a broken button. Sustainable growth? Totally. Sustainable investor happiness? TBD 🙃
According to the Financial Times (FT), Scott Bessent, the man with the keys to the Treasury vault, is “betting” that crypto will morph into a loyal customer for US Treasuries. You know, those boring pieces of paper that promise you’ll get your money back… eventually. Thanks to the GENIUS Act (because naming things creatively is clearly not their strong suit), stablecoins now need to be backed by actual dollars or Treasury bills. Groundbreaking stuff, right? 🙄
The new product, the Defiance Leveraged Long + Income XRP ETF, promises 150 to 200 percent exposure to XRP’s daily price moves. It’s like a rollercoaster with a “no safety belt” sign. And to top it off, it uses an options-based income strategy-because who doesn’t want to gamble with their retirement savings? 🤯
The buzz was immediate, as if summoned by some magical charm. Investors, like moths to a flame, swarmed YZY, causing its worth to soar to a staggering $3.2 billion before it decided to take a breather and settle in the neighborhood of $1.3 billion. Such fervor speaks volumes about the whimsical nature of celebrity-backed fortunes-up one moment, down the next, like a rollercoaster ride in a carnival of lunacy!
What to know: Dogecoin jumps to $0.22 after a wild surge in volume, because apparently big whales have nothing better to do with their spare millions, despite the lingering, ominous Qubic hack threat hanging around like a bad opening act. Enormous whale investors (seriously, these guys need a new hobby) loaded up on 680 million … Read more
“$AVAX Transactions have seen explosive growth since May this year. It pumped 585% in just 3 months. This increased network activity clearly shows @avax is being mass adopted.”
So, here’s the scoop: the proposal, which hit the streets on Aug. 20 (mark your calendars, people!), lays out a multi-step plan that’s more complicated than my last relationship. They want to create an exchange-traded fund, start a new company called Sonic (S) USA, and dive into a private investment in public equity transaction on NASDAQ. Sounds fancy, right? 🥂
Oh, look, the Winklevoss twins-Tyler and Cameron, to be precise-are back at it, and this time they’re feeling *generous* (well, if you call $21 million in bitcoin, generous). They made the hefty donation to the Digital Freedom Fund political action committee (PAC), in hopes of transforming the U.S. into a glittering crypto haven. This happened on August 20, and trust us, it’s not your usual donation for a bake sale.
In the high-stakes aquarium of Nansen, centralized exchanges are choking on an extra 873 million tokens this week-a 5.74% bump that screams “We’re just browsing!” the way someone holding divorce papers says “We need to talk.” Total exchange inventory now sits at a puffed-up 16.07 billion. Meanwhile, whales trimmed their waistlines by 0.43 % (yes, the blockchain tracks that sort of thing) and those so-called “smart money” wallets-imagine hedge funds with hair plugs-slashed exposure by nearly 13 %. That left them holding a measly 136.51 million tokens, or roughly one pack of gum shy of a Costco bulk aisle. Even the influencer wallets-yes, the ones that promised “diamond hands” while guzzling oat-milk lattes-have logged off, down 4.1 %. Turns out the only hands they had were jazz hands. 🤷♂️
As the market succumbed to a tempest of selling pressure, the largest cryptocurrency, Bitcoin, emerged as the unlikely sanctuary for the weary investor.