Crypto Megathread v37 - All aboard the Soooooool Train!

[TeTe]

Didn't realize that FTX is still unstaking a shit ton of Solana.

Notably, the bankrupt FTX and Alameda group is unloading over $1 billion worth of Solana. Over the past three months, the firm has unstaked 530,000 SOL, valued at approximately $71 million, and redistributed it across multiple addresses.

The transfer activity averages 176,700 SOL per month, valued at $23.5 million, including a recent redemption of 177,693 SOL worth $23.75 million. Despite this substantial release of potential supply, FTX and Alameda still hold 7.06 million SOL, worth $945.7 million, in staked assets.

What’s Next For Solana as FTX Unstakes $1B SOL

As Solana approaches a comeback, potentially surpassing $137, a black swan event signals a massive influx of supply, which could lead to a significant crash.

thecryptobasic.com

 

[Strychnine]

Didn't realize that FTX is still unstaking a shit ton of Solana.

Notably, the bankrupt FTX and Alameda group is unloading over $1 billion worth of Solana. Over the past three months, the firm has unstaked 530,000 SOL, valued at approximately $71 million, and redistributed it across multiple addresses.

The transfer activity averages 176,700 SOL per month, valued at $23.5 million, including a recent redemption of 177,693 SOL worth $23.75 million. Despite this substantial release of potential supply, FTX and Alameda still hold 7.06 million SOL, worth $945.7 million, in staked assets.

What’s Next For Solana as FTX Unstakes $1B SOL

As Solana approaches a comeback, potentially surpassing $137, a black swan event signals a massive influx of supply, which could lead to a significant crash.

thecryptobasic.com

If I'm wrong, someone tell me because I'm a financial layman.

THIS the reason that SOL has been crabbing along? I figured it was undervalued and I believe dumps like these have a lot to do with it.

 

[TeTe]

If I'm wrong, someone tell me because I'm a financial layman.

THIS the reason that SOL has been crabbing along? I figured it was undervalued and I believe dumps like these have a lot to do with it.

Well, I'm pretty sure anything they had staked has to get dumped on the open market because of their bankruptcy and of course that supply increase isn't good. But I still don't think overall its a big reason it's been crabbing. Look at BTC liquidity as the primary driver in all cases.

 

[TeTe]

Avax needs to start moving. Hasn't been over $30 in forever. Most underrated layer 1 ever.

 

[meauneau]

Looks like everyone is holding the same stuff from last cycle

 

[Strychnine]

I found @Rob Battisti

 

[GarbageGuy]

Omg how did i know

 

[GarbageGuy]

Looks like everyone is holding the same stuff from last cycle

Please the gimmick

Been a while

 

[kimocomplex]

Ok boys, I sold my remaining BTC because I'm in a temporary financial bind

Expect it to shoot up to 100k shortly

 

[TeTe]

Ok boys, I sold my remaining BTC because I'm in a temporary financial bind

Expect it to shoot up to 100k shortly

There will always be more opportunities

 

[Strychnine]

Ok boys, I sold my remaining BTC because I'm in a temporary financial bind

Expect it to shoot up to 100k shortly

I know what you mean. I hope things get better for your situation quickly.

 

[GarbageGuy]

FED will most likely cut rates today

 

[TeTe]

FED will most likely cut rates today

The real question is by how much. I think they only go 25 bps

 

[Long Dark Blues]

Anyone staking ROSE in the ROSE wallet?

If so, is there something going on? My rewards haven't updated in the wallet in a couple weeks.

When I check the explorer it shows my balance as less than what my wallet shows.

I can't seem to find any reason for this.

 

[TeTe]

The real question is by how much. I think they only go 25 bps

Wow 50

 

[Strychnine]

So, it looks like former Pres. Trump will be launching his own cryptocurrency.


"Later he extolled the expertise and brilliance of his 18-year-old son Barron, who he said has "four wallets" and is named as the new company's “DeFi visionary” (that stands for decentralized finance.) Trump himself is the “Chief Crypto Advocate" and Trump's oldest sons, the alleged movers and shakers of this deal, are both called “Web3 Ambassadors."

Trump's campaign can't get in the way of his new grift

Trump's been getting away with scams, cons and crimes his entire life. Can he wriggle out of his new crypto scheme?

www.salon.com

Now, I'm not calling it a grift, I'm just posting the link from Salon. Just want to put this out there and everyone can make their own financial decisions.

 

[GarbageGuy]

50 bps is not bullish in my eyes

Means economy is fucked lol

 

[kimocomplex]

I'd get into a Trump crypto with the quickness tbh

Even if it gets rugged, the upside is tremendous

NFA

 

[idrankyourbeer's maid]

 

[TeTe]

50 bps is not bullish in my eyes

Means economy is fucked lol

Well yeah, that's why markets closed down today. I've kind of been saying that for months. That's why I've been bearish on the macro so much.