The US stock market lost over $2.3 trillion in market capitalization in just 50 minutes after the start of trading — this is the fastest decline of such scale in history. 🤦‍♂️

Nothing unusual. The main centralized crypto exchange. Top daily gainers. Not a single crypto token.
I guess everyone who fought against the financial system but dreamed of institutional adoption was hoping for exactly this.

Alerts from videos

Liquidations are still piling up below! People keep trying to long every dip! Ideally, we could see a drop to the Inner Support line on the daily timeframe by November 13.

Two years ago, when the airdrop hype started and we saw an endless flow of different L0, L1, and L2 projects, I was already saying that we didn't need so many middlemen built around Ethereum!

People believed in some imaginary scalability and thought all these projects had some kind of fundamental value. Two years later, we're seeing several projects shutting down completely, while others are gradually moving to Ethereum!

In the end, most of these projects turned out to be nothing more than a way for funds that invested at early stages to make money!

Zilliqa is abandoning its own Layer-1 blockchain and transitioning to Ethereum as a Layer-2 chain. Now they're transitioning from L1 to an Ethereum L2. I don't want to make any predictions, but I wouldn't be surprised if, 3–5 years from now, we see another announcement saying that the project is shutting down!

ZIL was around long before the airdrop hype, but so far, apart from promises and a hype-driven pump and dump around the Metaverse narrative, it hasn't delivered anything meaningful over all these years!

Once again, this proves that a project's fundamentals and the ideas it promotes on social media have nothing to do with the price of its token!

Interestingly, Bitcoin ETF investors behave exactly like retail traders! They keep buying at high prices, only to start aggressively selling whenever the market drops.

This is why all those videos about the technical side of becoming a successful trader overlook one of the most important factors: psychology!

Main $BTC liquidations higher. But still would be good to see 74-72