XRP flies to the moon 🚀

Judge orders Ripple to pay $125 million fine in SEC case. 

This officially ends the SEC's case & concludes that XRP is not a security 🥇

Do you hold $XRP ?

✅ An overnight bounce following dovish comments from the Bank of Japan failed to hold. Crypto dumped again as it is now tightly tied to the U.S. stock market 📉

Daily Digest:

🔸 XRP is not a security, the SEC lawsuit against Ripple is officially over

🔸 Bitcoin hashprice hit an all-time low this week, it could force many smaller mining companies out of business

🔸 Bank of Japan promised not to raise rates when markets are unstable 😌

🔸 A Paris Olympics venue was hacked and told that their financial data would be leaked unless a crypto ransom was paid

🔸 Jump Trading, a market maker sold another $29M ETH with $63M left to go

🔸 The NISE has filed a proposal with the SEC to approve options trading on an Ethereum trust managed by BlackRock 😯

🔸  Elon Musk confirms that he will be doing an interview with Donald Trump on X next Monday

🔸 Donald Trump's sons are teasing some "big announcement" related to crypto

🔹 Prices:

🥇 Bitcoin - $54,698 (↓3.3%)
✨ Ethereum - $2,323 (↓6.7%)
🧪 S&P 500 - 5,199 (↓0.77%)
🕗 DXY - 103.19 (↑0.21%)
🌉 Gold - 2,381 (↓0.07%)

Average day in crypto industry 😅

Yesterday, for the first time since the rapid market crash began, we had positive momentum in spot BTC ETF flows, with net inflows into the funds totaling $45.1 million 🔼

The Open Network's native currency Toncoin (TON) will be listed on Binance, TON price jumped by 8.4% 🤑

The Brazilian Securities and Exchange Commission has approved a Solana-based exchange-traded fund, as a first-of-its-kind product in Brazil 🔳

A judge has ordered both FTX and its sister trading firm Alameda Research to pay out $12.7 billion to creditors following the conclusion of a Commodity Futures Trading Commission lawsuit 💸

The Aave DAO, in collaboration with Trident Digital, IntoTheBlock ITB, and TokenLogic, has deployed the first on-chain fixed-yield loan valued at $100 million 🔗

In 2024 Binance managed to recover or freeze $73 million in stolen user funds 🆘

🔹 Last 24 hours top 3 gainers:

XRP - $0.611 (↑19.73%)
Bittensor - $282.51 (↑8.85%)
Toncoin - $6.16 (↑8.50%)

#GM

In 1875, Samuel Benner, an American farmer, faced financial ruin and became determined to uncover the patterns of economic cycles 📊

His research led him to create the mysterious Benner Cycle chart. This chart predicts future economic highs and lows telling investors when to sell and when to buy.

🔍 After almost 150 years, this cycle chart still predicts market downturns and upturns with quite uncanny accuracy.

As you can see, the chart calls 2023 a good year to accumulate at low prices, and 2026 a good year to sell at the market's peak ⌚️

Bitcoin price skyrockets 📈

Looks like we will get a V-shaped reversal after the market crash. The bulls just need to get above 60k and hold that level 🐮

The market is healing: S&P 500 is up 1.8% in the last 24 hours. Investors are becoming more confident that the worst is over 😌

Although, JPMorgan has raised its estimate of the likelihood of a U.S. recession by the end of 2024 to 35%, up from 25% at the beginning of July 😨

✅ The market is up today, the stock market is up over 2%, and Bitcoin and Ethereum are up significantly pulling the rest of the altcoin market with them 📈

Daily Digest:

🔸 The Open Network's native currency Toncoin (TON) will be listed on Binance, TON price jumped by 14.6% today

🔸 JPMorgan has raised its estimate of the likelihood of a U.S. recession by the end of 2024 to 35% 😨

🔸 The Brazilian Securities and Exchange Commission has approved a Solana-based exchange-traded fund

🔸 A judge has ordered both FTX and its sister trading firm Alameda Research to pay out $12.7 billion to creditors following the conclusion of a CFTC lawsuit

🔸 In 2024 Binance managed to recover or freeze $73 million in stolen user funds 🤪

🔸 Aave DAO and Trident launched a $100 million on-chain fixed-yield loan

🔸 State-owned media has reported that Russia has legalized cryptocurrency mining in the country

🔹 Prices:

🥇 Bitcoin - $59,684 (↑8.9%)
✨ Ethereum - $2,582 (↑9.9%)
🧪 S&P 500 - 5,317 (↑2.28%)
🕗 DXY - 103.22 (↑0.02%)
🌉 Gold - 2,423 (↑1.68%)

Join our chat 🗯

What more do you need to be happy? 😄

The S&P 500 had its best day since November 2022, rising by 2.3% in the last 24 hours. Who would have thought we would be so much in green after the Monday crash 🧪

A newly launched meme coin Restore the Republic was rumored to be the official token of Donald Trump, pumped to $155 million market value before falling by 95% after Trump's son warned that his father doesn't yet have an official token 🤔

Franklin Templeton’s blockchain-based Nasdaq-listed OnChain U.S. Government Money Fund, FOBXX, has launched within the Arbitrum ecosystem 🙃

After a court hearing in Ireland on Aug. 7 the social media platform X, owned by Elon Musk, has agreed to halt the collection and processing of user data in the European Union 🇪🇺

🔹 Last 24 hours top 3 gainers:

Sui - $0.835 (↑29.44%)
Celestia - $5.62 (↑20.78%)
Helium - $6.07 (↑17.93%)

#GM

A conspiracy theory is circulating that the CIA might be secretly backing Solana 🕵️‍♂️

This theory connects the background of Solana's founder, Anatoly Yakavenko, to possible government influence, and suggests that early SOL token sales to influential VCs could have been a covert move by the CIA to gain power and control.

Critics also point to the CIA's known involvement in crypto and the SEC's removal of allegations against Solana as further evidence 🤑

With these speculations swirling, the question remains: is there more to Solana's story than meets the eye?

The crypto market faces a $2.5 billion options expiry, with $1.94 billion in Bitcoin and $552 million in Ethereum contracts set to expire 😬

Despite recent market turbulence, the put-to-call ratios indicate a bullish sentiment. Bitcoin’s "maximum pain" point is $60,000, while Ethereum’s is $2,950

💁‍♀️ If many options are "in the money" (profitable to exercise), they could trigger large buy or sell orders, affecting market prices. In this case, with the market already recovering from a recent drop, the expiries could either strengthen the recovery or lead to new volatility depending on how traders react 🕯

✅ The US stock market continues to surge and the bulls have managed to hold the $60k level on Bitcoin. Some have suggested that it may take longer than expected for the market to get back above $70k ⏳

Daily Digest:

🔸 X has agreed to halt the collection and processing of user data in the European Union

🔸 Franklin Templeton’s blockchain-based Nasdaq-listed OnChain U.S. Government Money Fund, FOBXX, has launched within the Arbitrum ecosystem

🔸 A conspiracy theory is circulating that the CIA might be secretly backing Solana 🔳

🔸 RTR meme coin rumored to be related to Donald Trump has been dumped by 95% after his son confirmed that his father doesn't yet have an official token

🔸 SEC has delayed its approval decision regarding the Hashdex Nasdaq Crypto Index US ETF ⚖️

🔸 Tether has printed over $1 billion worth of USDT that was sent to multiple CEXs since Aug. 5

🔹 Prices:

🥇 Bitcoin - $61,732 (↑1.8%)
✨ Ethereum - $2,595 (↑0.6%)
🧪 S&P 500 - 5,344 (↑0.47%)
🕗 DXY - 103.14 (↓0.07%)
🌉 Gold - 2,430 (↑0.14%)

Telegram's play-to-earn projects just can't stop milking their community 🤣

The results of the latest crypto market sell-off: 

🔽 Weak hands sold.

⚰️ More than $1.2 billion in leveraged longs were wiped out.

🔼 Long-term holders accumulated more than $11 billion in BTC.

The Bitcoin Golden Ratio Multiplier 📊

The Bitcoin Golden Ratio Multiplier uses multiples of the 350-day moving average (350DMA) to identify potential resistance levels in Bitcoin's market cycles.

These multiples, based on the Golden Ratio and Fibonacci sequence, have historically marked significant price highs and lows.

🔍 Recently, Bitcoin tested the 350DMA (yellow line) support during the correction, indicating it's still within the expected range.

The market is not yet near the x2 multiple (red line), suggesting potential for further growth before encountering major resistance but only after we confirm the bullish trend while keeping the price above the ATH 📈

#trading_tips

Six best movies about finances, economy and Wall Street 🎬

• The Big Short (2015) - A movie about a group of investors bet against the United States mortgage market.

• Inside Job (2010) - This movie closely examines what brought about the 2008 financial meltdown.

• The Wolf of Wall Street (2013) - The story of a stock-broker living a high life to his fall involving crime, corruption, and the federal government.

• Enron: The Smartest Guys in the Room (2005) - A documentary about the Enron corporation, its faulty and corrupt business practices, and how they led to its fall.

• Wall Street (1987) - An impatient young stockbroker is willing to do anything to get to the top, including trading on illegal inside information meets a ruthless, greedy corporate raider.

• Too Big to Fail (2011) - Chronicles the financial meltdown of 2008 and centers on Treasury Secretary Henry Paulson.

✅ At the beginning of the week we had the biggest market sell-off in a long time. Maro-economic factors together with geopolitical tensions led to a sell-off in the stock market. As a result, whales bought at lower prices while weak hands sold. Crypto market has recovered, but only partially 🤷‍♀️

Weekly news digest:

💎 Crypto

🔸 XRP is not a security, the SEC lawsuit against Ripple is officially over

🔸 Ronin Network lost 3,996 ETH worth over $9.8 million in an exploit 💰

🔸 Aave DAO and Trident launched a $100 million on-chain fixed-yield loan
 
🔸 Tether has printed over $1 billion worth of USDT that was sent to multiple CEXs since Aug. 5
 
🔸 A conspiracy theory is circulating that the CIA might be secretly backing Solana
 
🏦 Crypto exchanges

🔸 Binance recorded a net inflow of $1.2 billion in the past 24 hours. Perhaps whales deposited to buy a dip?

🔸 A judge has ordered both FTX and its sister trading firm Alameda Research to pay out $12.7 billion to creditors following the conclusion of a CFTC lawsuit

🔸 In 2024 Binance managed to recover or freeze $73 million in stolen user funds
 
💵 Finances and Economy

🔸 London-based Capula Management hedge fund revealed $420 million in Bitcoin ETF investments

🔸  JPMorgan has raised its estimate of the likelihood of a U.S. recession by the end of 2024 to 35% 😨 

🔸 Bank of Japan promised not to raise rates when markets are unstable 🇯🇵

🔸 The NISE has filed a proposal with the SEC to approve options trading on an Ethereum trust managed by BlackRock

🔸 Franklin Templeton’s blockchain-based Nasdaq-listed OnChain U.S. Government Money Fund, FOBXX, has launched within the Arbitrum ecosystem
 
⚖️ Law and Order

🔸 The Brazilian Securities and Exchange Commission has approved a Solana-based exchange-traded fund

🔸 X has agreed to halt the collection and processing of user data in the European Union 🇪🇺

🔸 SEC has delayed its approval decision regarding the Hashdex Nasdaq Crypto Index US ETF
 
 🗣 Personalities

🔸  Elon Musk confirms that he will be doing an interview with Donald Trump on X next Monday

🔸 Donald Trump's sons are teasing some "big announcement" related to crypto
 
🔸 Kamala Harris selected Minnesota Gov. Tim Walz to be VP running mate

🚀 Best performers of the week:

Sui - $0.919 (↑59.9%)
Helium - $6.05 (↑37.5%)
Bittensor - $290.93 (↑32.8%)

The new week starts with the outperformance of BTC by ETH. Just before Bitcoin reclaims the $60,000 level, Ethereum is already close to getting back above $2,700 🤑

Today, Donald Trump will give an interview with Elon Musk appearing for the first time in years on the social media app X, where he was once banned 😐

A former Bank of Japan official said the central bank would delay further rate hikes until next year, suggesting a preference for market stability over the near-term 🏦

Marathon Digital Holdings has announced a $250 million offering of convertibles senior notes due in 2031, in a private offering toward “qualified institutional buyers”, raised funds will be used to buy more Bitcoin 🛒

🔹 Last 24 hours top 3 gainers:

Sui - $1.057 (↑19.41%)
Aptos - $6.63 (↑8.30%)
Sei - $0.307 (↑6.43%)

#GM

Top 7 token unlocks for this week 🔐

The total value of tokens unlocked this week will exceed $173.64 million. ARB, UNI, and STRK are all ETH betas (closely follow ETH price) knowing this and taking into account the recent ETH performance, it is better not to rush into short positions 👇

• Arbitrum (ARB) — $51.57M
• Uniswap (UNI) — $49.61M
• StarkNet (STARK) — $23.46M
• Moca (MOCA) — $21.16M
• Cyber (CYBER) — $11.28M
• ApeCoin (APE) — $8.91M
• Worldcoin (WLD) — $8.15M

#unlocks