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In early August, the remnants of ETH seized from the multibillion dollar PlusToken scheme awoke on-chain for the first time since 2021.
Over the last 24h about 7k ETH of the remaining 542k ETH ($1.3b) was sent to exchanges indicating intent to begin selling the remaining tokens.
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Tax has kicked in.
LUNC, extrapolating usage over the last 30 minutes, is burning $3136 a day. It's market cap? $2b.
0.
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/1 some thoughts on the LUNC burn catalyst —
Or, how I learned to stop worrying and love the pump and dump.
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Luna Ripping BTC and ETH humming cant help but think about 3AC RIP you would have loved this
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The $470MM in wBTC pulled from the Maker vault is now on the move to an address that subsequently interacts with FTX. Uncertain whether has been sold already OTC.
Apart from their stETH holdings, this transfer likely marks the final stages of supply pressure from Celsius.
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New note out on why we think spot bitcoin ETFs will get approved in early Summer 2023. The SEC is proposing to expand the definition of "exchange" which would bring crypto platforms under SEC reg. After that (which could take a year) look for ETFs to get green light via @JSeyff
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Little ramp today on recycled de-escalation headlines shows us 1) exactly what the market is looking/waiting for and 2) there is a bid ready to scoop up massive discounts
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Replying to @lightcrypto @trader1sz
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No one actually got the balls to say it themselves though
Always you or me (or in this case @lightcrypto the giga chad)
Appreciate you doing it
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Replying to @lightcrypto
"and you will dump on them ... and they will love you for it"
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"A series of market decisions does add up to a kind of personality portrait. It is, in a small way, a method of finding out who you are, but it can be very expensive.
If you don’t know who you are, this is an expensive place to find out." The Money Game
xitter.cf/pmje73/status/14915998…
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/1 Have 0 interest in de-risking longs into FOMC.
Market is already grossly de-risked across entire complex (see tech equities most u/w since Dec 2008 bottom) and within crypto, spot-driven rally continues to be unloved, with derivs fading (fundings pronounced negative tilt).
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Lmao, these guys were still sitting on their ETH from the ICO?
Inb4 Substratum tier move.
Whale Alert@whale_alert25 Jan 2022🇳🇱
NetherlandsConnected via Netherlands App StoreAccount-level information, not a live location or per-post device.
🚨 🚨 12,000 #ETH (29,205,545 USD) transferred from ICO wallet for #SingularDTV to #Coinbase
whale-alert.io/transaction/e…
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If you are $ long and you see $ losing support at peak Fed hawkishness and as 12m inflation runs at it’s highest rate since 1982, you gotta be nervous….given positioning, I can only imagine many more downside triggers will ensure follow-through
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You would think an app where lots of supposed experts share all sorts of data and information would help you see through the noise. In reality, all it does is increase the maddening fragmentation of narratives. Information on social media does not serve the truth unfortunately,
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Don’t look for comfort in the tweets and convictions of others.
All you need to know is that voices of CT have led you absolutely nowhere if you didn’t have your own convictions.
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/1 Where are the Bulls’ Balls? A thread on the cryptocurrency markets over the last month and into the end of the year:
























