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  • Bitcoin tests $100K support after massive liquidation event rocks market

    Bitcoin tests $100K support after massive liquidation event rocks market

    Bitcoin tests $100K support after massive liquidation event rocks market

    • Bitcoin briefly fell to $100,000 after a sharp market-wide sell-off.
    • Over $1.6 billion in leveraged long positions were liquidated in 24 hours.
    • The crash was fueled by “risk-off” sentiment and Fed rate cut uncertainty.

    The cryptocurrency market was rocked by a wave of forced selling late Monday, triggering a sharp downturn that saw Bitcoin briefly touch the $100,000 level and erased more than $1.6 billion in leveraged bullish positions.

    The sudden deleveraging event, one of the largest since September, sent a shockwave across the digital asset space, with major altcoins like Ether, Solana, and XRP posting heavy losses as renewed macroeconomic fears spooked investors.

    The core of the market’s turmoil was a massive cascade of liquidations. In the last 24 hours, more than $2 billion in crypto futures contracts were forcibly closed, with long traders—those betting on higher prices—accounting for nearly 80% of the losses at $1.6 billion, according to CoinGlass data.

    This automatic selling pressure occurs when traders using borrowed funds see their positions move sharply against them, forcing exchanges to sell the assets to cover losses. 

    Macro headwinds and risk-off sentiment

    The sell-off was fueled by a broader “risk-off” mood spreading across financial markets.

    Analysts pointed to a combination of factors that are making investors nervous and prompting them to shed speculative assets.

    “Recent speculation that the FOMC may pass on another rate cut this year, as well as concerns over tariffs, credit market conditions, and equity valuations, helped drive markets lower,” Gerry O’Shea, head of global market insights at Hashdex, said in an email to CoinDesk.

    He added that Bitcoin’s price has also been affected by profit-taking from long-term holders, which he described as “an expected phenomenon as the asset matures.”

    Bitcoin at a crossroads: a test of support

    Following the plunge, Bitcoin staged a modest rebound to trade around $101,000. However, the token remains down 5.5% over the past day and more than 10% for the week.

    The pain was more severe for altcoins, with Ether dropping 10%, while Solana and BNB lost 8% and 7% respectively.

    Despite the sharp downturn, some analysts believe the long-term picture for Bitcoin remains positive.

    “While $100,000 may be a psychologically important support level, we do not view today’s price action as a sign of a weakening long-term investment case for Bitcoin,” O’Shea said.

    With the Federal Reserve’s next move uncertain and global risk appetite fragile, the coming days will be a crucial test for the market, determining whether Bitcoin can hold its current level or if another wave of forced selling is on the horizon.

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  • Bitcoin holds steady as the market resets after a massive leverage flush

    Bitcoin holds steady as the market resets after a massive leverage flush

    Bitcoin holds steady as the market resets after a massive leverage flush

    • The crypto market is stabilizing after a sharp correction and a massive leverage flush.
    • Analysts see the move as a healthy reset, not a structural breakdown.
    • While speculators were purged, institutional money continues to accumulate.

    A fragile but significant calm has settled over the cryptocurrency market, as it begins the slow and painful process of healing from a brutal correction that has purged the speculative excess from the system.

    Bitcoin is holding steady, a quiet resilience that analysts believe is not a sign of weakness, but of a market that has undergone a healthy and necessary reset.

    As Asia begins its trading day, Bitcoin is hovering around $110,300 dollars, with Ethereum changing hands at $3,970.

    This newfound stability comes after a sharp and violent sell-off that had pushed Bitcoin as low as 104,000 dollars just last week.

    The great reset: A cleansing of speculative excess

    The key to understanding the market’s current state is to see the recent crash not as a catastrophic failure, but as a violent and necessary cleansing. In a recent market note, the analytics firm Glassnode described the move as a “flush, not a failure.” 

    The firm’s analysis shows that the speculative leverage that had been driving the market has been decisively unwound, futures open interest has fallen sharply, and traders have been realizing losses in a defensive normalization, not a full-blown capitulation.

    This view is echoed by other market observers who see a similar dynamic playing out in the world of capital formation.

    The market maker Enflux, in a note to CoinDesk, highlighted the news of Blockchain.com’s planned US SPAC listing as a “full-circle moment” for crypto exchanges, a sign that the industry is once again re-engaging with the public markets, but this time from a position of greater maturity.

    The quiet accumulators: The giants beneath the surface

    While the speculative layer of the market has been flushed out, a different and far more powerful story is unfolding beneath the surface.

    While retail traders were being liquidated, the institutional giants were quietly buying the dip.

    Enflux pointed to Tom Lee’s Bitmine allocating another $800 million to buy more ETH as an “infrastructure-scale commitment,” a clear and powerful sign that institutional money is not just staying, but is actively accumulating.

    This is the great divergence that now defines the market: the short-term speculators have been purged, while the long-term capital is quietly and methodically rebuilding the foundation.

    A new harmony in a chaotic world

    This reset is also reshaping the very narrative that governs the market. As Enflux noted, gold’s continued and stunning strength—surging to a new record of $4,380.89 an ounce—is no longer seen as a threat to Bitcoin, but as a complementary signal.

    It shows that in a world of deep macroeconomic and geopolitical uncertainty, digital assets now coexist with traditional hedges, a sign of a broader portfolio shift toward diversification, not abandonment.

    The market may be wounded, but it is also wiser, and a new, more resilient foundation is quietly being laid.

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  • Bitcoin rebounds after massive sell-off; BRETT and Poodlana shine

    Bitcoin rebounds after massive sell-off; BRETT and Poodlana shine

    • Bitcoin trades above $55k after a sharp sell-off that saw it break below $50k.
    • Brett (BRETT) meme coin is leading top gainers among the top 100 coins by market cap.
    • Poodlana has surpassed $5 million in presale with 10 days to go before it lists on DEX.

    Several altcoins are green as the price of Bitcoin rebounds from the lows reached on Monday amid the staggering sell-off that engulfed crypto and stocks.

    As Bitcoin (BTC) price looks to extend its bounce above $55k, meme coin Brett (BRETT) is leading the altcoin flip with over 30% gains in 24 hours. Meanwhile, traders eyeing the new Solana-based meme coin Poodlana (POODL) have increased the presale tempo as the project surpasses the $5 million mark.

    Bitcoin trades above $55k as market eyes recovery

    Matt Hougan, the chief investment officer of Bitwise, is bullish despite the crypto crash.

    He in a post on X on Monday that the meltdown that eviscerated the crypto market on Aug. 5, 2024 was comparable to the crash that hit global capital markets in mid-March 2020.

    As happened then, Bitcoin led cryptocurrencies lower amid the chaotic reaction to the Covid pandemic. But the market bounced, and Hougan believes the current downturn could offer such an opportunity.

    Bitcoin has recovered some of the losses seen when it dropped to below $50k, and could benefit from an explosive bounce if the declines represented a fresh bottom.

    BRETT leads market gainers with 30% spike in 24 hours

    The crypto market has returned to above $2 trillion in market cap as several altcoins post notable gains in the past 24 hours. Although Ethereum (ETH), Solana (SOL) and BNB (BNB) have registered decent gains during the early Asian hours, the biggest gainer at the time of writing is Base meme coin Brett (BRETT).

    According to CoinMarketCap data, BRETT has seen a 33% jump in its price to reach a 24-high of $0.094. Brett’s trading volume has increased 5% to over $93.8 million. While BRETT is outpacing Bittensor (TAO), AIOZ Network (AIOZ), Ondo Finance (ONDO), and Akash Network (AKT) at the time of writing, its price remains in the red over the past week and month.

    BRETT price is down 31% over the past week, while its losses over the past month are around 23%.

    Poodlana presale: Traders scoop POODL

    Poodlana (POODL) is attracting huge attention despite the current market outlook. Having launched its presale on July 17, the new Solana meme coin has seen its total raise surpass $5 million in a record 20 days.

    Solana’s newest meme coin describes itself as the project ‘where crypto meets couture.’ It’s inspired by the poodle, a dog breed that’s driving the fashion world wild, with top global celebrities and elites keen on making a statement with poodle fashion.

    This merging of fashion and crypto to drive the new era of dog-themed market tokens has found its greatest traction in Asia, with China, Japan and Korea leading the new crypto wave. Poodlana’s presale success suggests its launch could be an explosive debut in the market.

    When is the Poodlana DEX launch?

    Because Poodlana offered a 30-day presale, the project expects to list its token on Aug. 16. The presle price started at $0.06 and will hit $0.0539 in the last presale stage, before hitting the DEX within an hour of the token sale closing.

    That means traders looking to position with a new SOL meme coin at discounted prices have 10 days only to buy POODL. Details also show Poodlana will launch with 100% of its presale tokens unlocked.

    Currently, POODL is priced at $0.0416, with the next stage set to see it rise to $0.0458.

    You can discover more about this new meme coin by joining the community here.

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  • Bitcoin’s break to $25k was fueled by massive liquidations

    Bitcoin’s break to $25k was fueled by massive liquidations

    • Bitcoin price broke above $22,500 to new highs above $25,000 amid the hunt for short stops and liquidations.
    • The move to $25k resulted from short liquidations of over $155 million.
    • While price could retreat to $24k, Bitfinex analysts say recent price movements could be indicative of a bottom.

    Bitcoin price rose above $25k briefly before slipping back under the key psychological and technical area. 

    According to analysts at crypto exchange Bitfinex, the retreat to this week’s lows comes after a 10% upswing and a green weekly candle. However, the benchmark crypto did not hit a crucial daily candle close at that zone.

    Even then, it is likely the price movement is another major step towards “the latter stages of a gruesome bear market,” the analysts noted in a report.

    BTC spike to $25k fueled by massive liquidations

    Bitfinex analysts also suggest that Bitcoin’s breakout from the $22,500 price level to highs above $25,000 was fueled by the massive liquidations recorded over the past few days.

    Commenting on BTC price outlook and what could lie awake in coming weeks, they said in a statement shared with CoinJournal.

    “Over the past two weeks, the BTC price has been hunting both over-leveraged long positions, as well as liquidating over-eager shorts of over $155 million. It reached an eight-month high of $25,000 in the process. Another sharp but short-lived pullback caught out some short-term bullish speculators off-guard who were betting on a push to the upper $25,000-$26,000s on Thursday, February 16th, as evidenced by a spike in long position liquidations on that day. Profit-taking in the wake of the recent rally and a stop-run on those who had gotten overly aggressive chasing the upside might well send Bitcoin back below $24,000 in the week ahead.”

    On what happens next, the analysts say price action as has played out recently has historically, resulted in ranged price movement. This is due to the action that has seen both longs and shorts have been simultaneously wiped off.

    “The most probable move going forward is to scale out of positions partially and wait for the range to form without a strong directional bias,” they explained.

    In a tweeted prediction for Bitcoin price, YouTuber and crypto analyst Sheldon The Sniper says Bitcoin could go to $28k or revisit support at $21k. He shared the outlook above as BTC price continued to hover around $25,683 at 2:15 pm ET on Tuesday.

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  • Top 10 Coins To Buy For Massive Gains in 2023

    Top 10 Coins To Buy For Massive Gains in 2023

    With 2023 only just getting underway, this year is already looking much more positive than the rough 2022 experienced by practically all crypto projects. With hopes that the space has now reached the bottom of its bear market, investors are turning their attention to identifying which projects have the potential to deliver incredible profits in 2023 and beyond.

    Figuring out which project offers the highest bang for your buck is easier said than done, though. As such, here are the top 10 coins supporting the most highly regarded projects investors agree could offer massive gains in 2023:

    1. Metacade (MCADE)
    2. Chainlink (LINK)
    3. Avalanche (AVAX)
    4. Hedera (HBAR)
    5. Bitcoin (BTC)
    6. LTO Network (LTO)
    7. Ripple (XRP)
    8. Monero (XMR)
    9. Shiba Inu (SHIB)
    10. Polygon (MATIC)

    1. Metacade (MCADE)

    Metacade is already taking the investment world by storm with a presale that is amazing onlookers, having raised a phenomenal $7m in only 13 weeks since it launched. Fundraising continues at pace, with the presale now in stage 4 and an increasing number of investors scrambling to get on board while they can. This alone could place it comfortably at the top of the list of top 10 coins, but it is the features of the platform which really stand out.

    The main driver pushing up presale figures is Metacade’s comprehensive plans provided in the platform’s whitepaper. It outlines an innovative blueprint for reaching the project’s goals, objectives, and roadmap. Metacade is en route to revolutionize the video game business, in part, by constructing the largest play-to-earn (P2E) arcade on the planet.

    The P2E arcade looks certain to attract a huge number of the millions of global gamers out there, due to the extensive rewards mechanisms implemented across the ecosystem. Gamers of all stripes will reap rewards, earned across both casual gaming and more competitive community play. By taking this approach, Metacade establishes a broad appeal that can provide the project with a potentially huge total addressable market (TAM).

    Rewards will also be implemented for user actions that benefit the broader Metacade ecosystem. Users who contribute in ways like writing game reviews or engaging with the community will be eligible for rewards. This incentivizes all users to constantly improve the platform. It creates a significant driver for user retention and growth that many other projects out there cannot compete with.

    The project uses a utility token known as MCADE to power the ecosystem, and MCADE plays a key role in how the platform operates. As well as being used to distribute rewards, MCADE more broadly represents the currency of the platform, meaning that for all exchanges of value across the entire ecosystem — such as for tournament entry fees or for buying merchandise — MCADE is crucial. 

    The token design also features staking options for holders, which allows investors who are holding for the likely price appreciation of the MCADE token to benefit from a passive income by putting their tokens to work while they wait.

    One feature that is often referenced is the Metagrants program, providing significant value at all levels of user engagement. It achieves this simply, by allowing game developers and teams to pitch game ideas to the Metacade community. MCADE holders can then vote on the projects which are most deserving of funding from the Metacade treasury. This level of involvement will help improve user retention by giving them a meaningful role in the future of the gaming library.

    >>> You can participate in the Metacade presale here <<<

    2. Chainlink (LINK)

    Chainlink is a project that is taking on the so-called ‘oracle problem,’ which deals with the challenge faced by Web3 in being able to access accurate and secure data from off-chain in a trustless way. 

    The Chainlink decentralized oracle network (DON) is a complex system of nodes that supply information to the network and stake their LINK tokens to do so. Any node trying to game the system is penalized via a system known as slashing, where providing incorrect data is punished with the loss of LINK tokens by the node.

    Chainlink boasts more partnerships than any other Web3 project, and the price feeds it provides on the up-to-date prices of trading pairs is a critical part of the way that the most mature end of DeFi (such as Aave) operates. If DeFi continues to grow and Chainlink remains central to it, then we could well see the price of the LINK token increase dramatically over the course of 2023, making it a solid contender for the list of top 10 coins.

    3. Avalanche (AVAX)

    Avalanche is a layer-1 project competing with the likes of Ethereum and Solana for market share in the public permissionless space. The project uses three separate blockchains known as the C-Chain, P-Chain and X-Chain to enable the creation of sub-networks called subnets. 

    These subnets allow an amount of flexibility in the features of the Avalanche network, meaning that the parameters can be tailored to the specific use case at hand. This has led to calls from the passionate Avalanche community that the scalability of the Avalanche network is unbeatable, which makes investing in the native token, AVAX, a promising opportunity.

    The Avalanche network hasn’t seen much growth following the surge in the 2021 bull run, however, with a large and passionate community behind it, 2023 could be the year that the project secures more market share and those who have invested in the AVAX token reap the rewards.

    4. Hedera (HBAR)

    The Hedera network isn’t actually a blockchain at all; the project uses a technology known as directed acyclic graphs (DAG) to enable the Hedera network to provide fast and secure transactions at scale.

    The project also takes decentralization seriously but has adopted to take a different approach than most projects by appointing a council of corporate and educational institutions under time-limited terms to hold a seat on the Hedera council. 

    There are rumors abound that the Hedera network may well see some large use cases go live in 2023, which could see the utility token HBAR benefit in the form of price rises. With some positive movement already seen, it could be the start of a significant stint of price appreciation for the HBAR token.

    5. Bitcoin (BTC)

    Bitcoin may be seen by many as the most conservative investment in the crypto space, but there’s no doubt that it remains the flagship project of Web3. With more and more regulation likely to arrive in 2023, the project stands to benefit from the absence of a centralized party running it, alongside the fame that the project holds.

    If regulation continues to err on the side of defining Bitcoin as a commodity, it could well open the floodgates for institutional investors to flood funds into the market over 2023 and beyond, meaning that the price of BTC could well increase far above what we’ve already seen so far when TradFi starts to drive green candles instead of just the movement of the occasional crypto whale.

    6. LTO Network (LTO)

    LOT Network is a Netherlands-based project that focuses primarily on use cases where a hybrid solution is needed. These are usually use cases that require private data storage but public verification, and so LTO Network hopes to secure a big chunk of the enterprise market in this way.

    The project already boasts some impressive partners, having worked with both the United Nations and IBM on different use cases. The project has also explored developing a Digital Identity (DID) product, which could open the door to more use cases in the future.

    As the LTO token is used for all transactions on the project, we’re likely to see the price of LTO increase in line with the usage of the network, and so should more projects with high transaction volume appear in 2023, LTO holders might be in for a pleasant surprise.

    7. Ripple (XRP)

    Ripple has been locked in its legal battles with the SEC for years now, and for the dedicated community of supporters behind it, there is the belief that 2023 will be the year that the lawsuit is over.

    Most analysts believe that it’s likely that Ripple will win the lawsuit with the SEC, which could mean that many established use cases gain the green light to formally acquire the XRP token for use in the primary Ripple use case — cross-border payments.

    Should that happen, then we’re sure to see the price of XRP climbing to the highs it has not seen for years, if not even higher.

    8. Monero (XMR)

    Monero is a privacy-focused project that is looking to build an anonymous digital cash that allows for untraceable transactions across the globe, for everyday transactions all the way through to those of a crypto whale.

    Monero faces an uncertain future in light of the increasing focus on regulation that governments have going into 2023. However, XMR holders are confident that the technical complexity of the project means that it cannot be stopped, and so should regulators reach some sort of cease-fire with the project, it could benefit the price of XMR.

    9. Shiba Inu (SHIB)

    Shiba Inu is a project that has built and maintained a passionate community of followers known as the Shib Army. The project may have started out as a meme coin following in the footsteps of the Dogecoin (DOGE) project, but the team has used the popularity of the project to pivot to a more utility-based DeFi offering.

    The advantage that Shiba Inu has over Dogecoin is that the DeFi utility allows the project to continue to evolve over time, and this could help build and maintain excitement about the project as time progresses.

    10. Polygon (MATIC)

    Polygon is a layer-2 project for Ethereum, and the project aims to enable platforms on the Ethereum network to access its benefits in a more scalable way. 

    Polygon’s network has its own validators, but crucially also has the MATIC bridge — a bridge to the Ethereum network. This means that other projects built on Polygon are able to store data back on the Ethereum network periodically while benefitting from cheaper and faster transactions on Polygon in the meantime.

    Polygon has already managed to secure a number of big enterprise projects, such as Starbucks and Nike, so it would not be a surprise to see the price of MATIC post big gains throughout 2023.

    What project is the best choice for investors?

    Metacade looks like an excellent choice from the top 10 coins for investors looking for major gains. By providing investors with incredible potential found in the platform’s features and implementation, not to mention significant discounts available in the presale, there’s no question that the largest potential upside is to be found in investing in MCADE.

    As MCADE is so closely tied to the usage of the platform, 2023 is likely to see huge increases in token price. As the platform goes live and gamers flood the platform, those that take advantage of the presale for the limited time it remains open are certain to have an amazing journey ahead of them.

    You can participate in the Metacade presale here.

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  • Bitcoin isn’t getting less volatile, and that’s a massive problem

    Bitcoin isn’t getting less volatile, and that’s a massive problem

    Bitcoin was 26X more volatile on a weekly basis than the euro in 2022, up from 19X in 2021 and 16X in 2020

    Key Takeaways    

    • There is a perception that Bitcoin’s volatility is coming down, however the data fails to back this up
    • Bitcoin’s volatility fell until 2015, but it has not improved since then
    • In comparing the asset’s returns to the Nasdaq and individual stocks, it blows them out of the water
    • Bitcoin’s average volatility vs USD on a weekly basis was 26X greater than the euro last year, up from 19X in 2021 and 16X in 2020

    Bitcoin and volatility are like the two leads in a rom-com. They may have some time apart intermittently, but you know that they will get back together before long. 

    But are things improving? I have written plenty about what I believe is the single biggest challenge to Bitcoin ever “achieving” anything of note – volatility. We at CoinJournal.net dove in to assess whether the situation is getting better. 

    Realised volatility

    The first step is charting the realised volatility. We annualised the annualised mark over a rolling 30-Day window, which in layperson’s terms means we assessed the magnitude of the movement by looking at a rolling 30-Day window. 

    The chart shows two things right off the bat. The first is that Bitcoin was all over the place until 2015, which is not surprising. At that point, it was still a niche Internet currency few had heard of, and its liquidity was minimal. While this article is striving to assess whether Bitcoin’s volatility is coming down, it is hard to put any weight into pre-2015. 

    The short answer is that it certainly has come down since before this time, but you don’t need much analysis to deduce that. The interesting part is whether it has continued to come down. Let’s zoom in on the time period since 2015. 

    Certainly a less perceptible trend, but it does look like the tail end – that being the latter half of 2021, 2022 and the start of 2023 – may suggest Bitcoin is calming down a little. 

    Upon further inspection, it doesn’t really hold, however. The period is devoid of any big isolated spikes which we have seen in the past – see March 2020 above, for example – which makes it seem like it has been serene. But aside from not offering an explosion of brief movement, the last couple of years have still offered near-constant volatility, and not dissimilar to what we have seen for much of the previous years. 

    “I was expecting a little more improvement with regard to Bitcoin’s volatility,” said Max Coupland, Director of CoinJournal. “There is a common perception in the space that Bitcoin’s volatility is coming down. But the CoinJournal research team had a hard time backing this up with numbers.

    In truth, while the period since 2015 has undoubtedly seen Bitcoin become mainstream and its price move sharply upwards as a result, its trademark volatility remains as fierce as ever. Bitcoin, in the short-term at least, remains more of a gamble”. 

    Bitcoin is still too volatile to be a store of value

    Bitcoin is still yo-yoyoing like there is no tomorrow. 

    Perhaps the below chart is a more intuitive display of this. The simple reality is that, if the asset is ever to act as a store of value, it is vital that these days where it moves 5%, 6%, 7% (or more) become a thing of the past. 

    It hasn’t happened to date. 

    The point is a simple one, but it bears repeating. An asset can’t lay claim to being a store-of-value (and certainly not a currency) while it is oscillating so wildly. People point towards developing world currencies as unsafe to store one’s wealth (and they are correct – looking at you Lebanon, Argentina and Venezuela), but Bitcoin is still a currency that can crater 20% overnight. Is that much better?

    Volatility less severe over long time periods

    Like anything, the volatility of Bitcoin does settle down a little when assessing it on a larger time frame. 

    The next chart plots the average daily returns over the prior 30 days. Again there is a noticeable downtrend to 2015, but not much improvement afterwards. 

    Zooming in on the prior graph, looking at the period since January 2020 (i.e. the pandemic bull market and the post-pandemic collapse) shows that while these moves are not overly large – they don’t spike over 3% – these are still daily averages, meaning the gain and loss is averaged out. And even then, 3% on a daily basis is far beyond what it needs to be. 

    Bitcoin’s volatility can’t compare to mainstream assets

    When comparing Bitcoin to anything but other cryptocurrencies, the contrast is stark. If Bitcoin is a mainstream asset, it carries volatility unlike anything else. That, above all, is the killer point. 

    An apt comparison is the Nasdaq, which is the more tech-heavy index and hence prone to more volatility. Over the last couple of years, this has rung especially true, as the world has transitioned to rising interest rates and the stock market plays a game of cat-and-mouse with the Federal Reserve. 

    Tech is particularly sensitive to interest rates because profit is not a favoured word in Silicon Valley. Instead of profits, companies are commonly valued off the promise of future cash flows, with unicorns seeing fat valuations off the back of these future cashflows being discounted at 0% rates. That is no longer the case, and hence we have seen share prices collapse and layoffs flood across the sector. 

    Nonetheless, comparing the Nasdaq’s volatility to Bitcoin is like comparing a great white shark to a goldfish. It’s just not a fair fight. 

    Of course, the Nasdaq is an index comprised of 100 stocks, and so when I say it’s not a fair fight to compare its volatility to Bitcoin’s, that is literally the case. 

    But even if we plot the volatility of some individual stocks of the Nasdaq against Bitcoin, the divergence is clear. 

    In summary, Bitcoin has a hell of a long way to go. In my eyes, this has always been its biggest challenge: to overcome this volatility. If it doesn’t, then what is really the point of this asset? You can’t have a store-of-value if it is prone to massive plunges in price. 

    I will finish with one more comparison – of where Bitcoin needs to get to, to illustrate how far it still has to go. To be a store of value, Bitcoin’s volatility needs to be (at least) on par with major currencies. 

    The below chart compares its volatility since 2015 to the euro, the newest of the “premier” currencies, launched around two decades ago.

    The final chart below shows this another way, in weekly terms. In fact, on a weekly basis, Bitcoin was 26 times more volatile than euro in 2022. It was 19X greater in 2021 and 16X greater in 2020 – yet further evidence that the volatility is not dissipating.

    It’s clear Bitcoin has a long way to go. That is accepted by most. But the thought that the volatility is coming down is a misconception, at least to date. 

    As for the future, well who knows?

    Research Methodology

    We drew price volatility measures from Glassnode, with our Analyst, Dan Ashmore, building the charts and comparing to other assets. Price data for stocks was scraped from Yahoo Finance. 

    If you use our data, then we would appreciate a link back to https://coinjournal.net. Crediting our work with a link helps us to keep providing you with data analysis research.

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  • Massive amount of Shiba Inu burned

    Massive amount of Shiba Inu burned

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  • Find Here The Sudden Massive Shiba Inu Transaction by Crypto Whale

    Find Here The Sudden Massive Shiba Inu Transaction by Crypto Whale

    • Recently, a massive crypto transaction of Shiba Inu was noted by a crypto whale.
    • In the transaction, 3,388,119,787,804 SHIB worth about $34 Million got transferred from unknown wallet to unknown wallet.

    The most advanced blockchain tracker and analytics system, Whale Alert, a high-net-worth crypto investor transferred a huge amount of meme coin, Shiba Inu (SHIB) in a single transaction.

    The data sourced from whale-surveying platform, Whale Alert, the deep-pocketed investor quickly and without warning shifted 3,388,119,787,804 SHIB worth roughly $34 Million from an unknown wallet to another one.

    As per the analysis of the blockchain search engine, Etherscan, the sending wallet got totally abandoned as it no longer holds any funds or digital assets. On the other hand, the receiving wallet, which was empty before, now had the Millions of Dollars worth of SHIB that was sent.

    Also, Etherscan data, showed the 50th richest Shiba Inu Whale contributed an incredible 125.34 billion SHIB, worth around $1.32 Million, in two separate transactions.

    After that, the Whale added 63.60 Billion SHIB, or $673,537, to its wallet, which increased the number of Shiba Inu it owned. Additionally, the seventh-largest Shiba Inu whale surfaced and made a sizable purchase of 131.63 Billion SHIB, or approx. $1.39 Million. And, the famous Shiba Inu Whale now has 15.44 Trillion SHIB (approximately $163.51 Million) in her wallet. The world’s second-largest canine-themed cryptocurrency by market cap dropped below a critical support level, sparking renewed interest in SHIB.

    However, following the huge accumulation of Whales, the price of SHIB/USD quickly recovered.

    In the continuation, on October 19, Shiba Inu tried to break the significant support level of $0.0000094 on the four-hour chart. Luckily, it got unsuccessful, as two anonymous, wealthy Shiba Inu buyers invested a staggering $2.72 Million in three significant transactions to purchase 256.98 Billion SHIB.

    In addition, the meme token, SHIB has seen rise in its use cases, as on October 11, 2022 Coinbase announced its partnership with Google Cloud to accelerate web3 adoption and innovation. This partnership would see Shiba Inu along with ashite of other altcoins that will be accepted by Google Cloud.

    SHIB Price Analysis

    CoinMarketCap: Shiba Inu to USD Chart

    The above graph shows the recent seven days price performance of Shiba Inu. At the time of writing, Shiba Inu is currently trading at $0.000010 USD with a 24-hour trading volume of $166.31 Million USD. Shiba Inu is down 2.83% in the last 24 hours. Its current CoinMarketCap ranking is #15, with a live market cap of $5.36 Billion USD.

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  • Crypto Whale Abruptly Moves 3,388,119,787,804 Shiba Inu (SHIB) in Massive Transaction

    Crypto Whale Abruptly Moves 3,388,119,787,804 Shiba Inu (SHIB) in Massive Transaction

    A high-net-worth crypto investor is suddenly moving a massive amount of meme asset Shiba Inu (SHIB) in a single transaction.

    According to new data from whale-surveying platform Whale Alert, the deep-pocketed investor abruptly shifted 3,388,119,787,804 SHIB worth about $34 million at time of writing from one unknown wallet to another.

    The sending wallet has been completely emptied as it no longer holds any funds or digital assets while the receiving wallet, which was empty before, now holds the millions of dollars worth of SHIB it was sent, according to the blockchain search engine Etherscan.

    Recently, SHIB has seen rising use cases. In a recent company blog post, Coinbase chief product officer Surojit Chatterjee announced a partnership with tech giant Google that would see Shiba Inu along with a suite of other altcoins be accepted by Google Cloud.

    “Google Cloud will be positioned to enable select customers, starting with those in the Web3 ecosystem, to pay for its cloud services via select cryptocurrencies through Coinbase Commerce.

    Coinbase Commerce is a platform that helps merchants anywhere in the world accept cryptocurrency payments. Merchants can get paid in crypto, and access powerful tools for crypto integration and business analysis.”

    SHIB is changing hands for $0.00001 at time of writing, a 1% dip during the last 24 hours.
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