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The Crypto Minute
Your Weekly Guide to Surviving the Crypto Rollercoaster.
Welcome to a new issue of Crypto Minute by CoinBrain! Markets are still rallying and the greed is reaching stunning highs. In today's edition, we're diving into this beautiful chaos with the enthusiasm of a Bitcoin maximalist at a Tesla shareholder meeting.
⤵️ Today’s Agenda
We've got Sam Altman scanning Brazilian eyeballs (not a Black Mirror episode, I checked)
Trump appointing Elon Musk and Vivek Ramaswamy to lead D.O.G.E. (not the memecoin, sadly)
$PEPE continues to rally over 220% in the last couple of days, because why not?
Polymarket's CEO Shayne Coplan had an unexpected visit from the FBI
And more…
📊 Market Snapshot
$92,800BTC+13.3% | $3,150ETH-0.29% | $2.76TCrypto Market Cap+11.9% | 84 (Extreme Greed)Fear & Greed Index+5 from last week |
📅 Crypto Events You don’t want to Miss
Nov 18th - 19th - During these 2 days, the G20 conference 🌐 will take place in Rio de Janeiro. It is basically a bunch of world-leading developed countries discussing global economic issues.
Last year a global framework for crypto regulation was proposed and we are sure that it will be a topic again this year (especially with BTC going crazy).
Well-designed regulation is usually good news for crypto as it allows institutional investors to get a piece of the cake 🍰
Friday, Nov 22nd - The US Purchasing Manager’s Index (PMI) in Manufacturing and Services will be announced.
Think of this one as a major indicator of economic health in the manufacturing and services industry.
Above 50.0 indicates industry expansion 📈
Below 50.0 indicated industry contraction 📉
🐋Smart Money Tracker
Nov 12th: An OG Whale has been buying $SHIB since 2020. On this day they sold a chunk of 100B $SHIB ($2.85M). This whale currently holds 2.5T $SHIB with a total profit of $123M 🤯
Nov 12th - Ethereum Foundation is offloading $ETH. So far, they have sold 4,166 $ETH at an average price of $2,779 this year, profiting $11.58M. Well… you have to secure the financing somehow 🤷♂️
Nov 14th - Huge amounts of $USDT are flooding the market! 💵 Another 1.34B $USDT was transferred from Tether treasury to exchanges on this day.
Nov 15th - A dormant Bitcoin miner wallet has woke up after HODLing for 14 years 👀 and transferred all 2,000 $BTC out to an exchange. Talk about patience!
Nov 16th - A whale withdrew 1M $USDC from Coinbase and then spent it all on 2.52M $SLERF at $0.41! Is there something we are missing? 🫢
Nov 17th - From $1.1K to $1.62M in just 20 days! 🤯 This savvy trader noticed underpriced $URO and basically went all in. They also spent 1.8 $SOL to buy 11.84 $RIF and sold some of it after $RIF broke $100M market cap.
They made $1.05M on $RIF and $571K on $URO - crazy multiples!
Source: Lookonchain
📰 News Recap (Nov 12 to 18)
Trump's New 'DOGE' Has Nothing to Do With Crypto (Really!) 🐕 In a plot twist that probably had Dogecoin holders doing a double-take, Trump announced the Department of Government Efficiency (DOGE). With Elon Musk and Vivek Ramaswamy at the helm, this new department promises to trim the government fat. No word yet on whether they'll accept memecoins for tax payments!
Pepe Makes a Massive Leap! 🐸 Hold onto your rare Pepes, folks! The infamous memecoin just had its "when Robinhood?" moment – and threw in a Coinbase listing announcement for good measure. With a 40% jump in 24 hours, this frog is definitely not staying in the well. Traders are having a field day, while traditional investors are probably questioning everything they know about finance.
FBI Plays Show and Tell with Polymarket CEO 📱 In what's probably not the kind of disruption they were aiming for, Polymarket's CEO Shayne Coplan had an unexpected visit from the FBI. They left with his electronics, raising questions about US betting regulations. Remember folks: when the FBI wants your phone, they're probably not trying to check your NFT collection.
Ethereum's Getting Even Smarter 🧠 Just when you thought smart contracts were smart enough, Ethereum researchers said "hold my ether." Led by Vlad Zamfir, the new "Smart Transactions" project aims to make Ethereum an actual "World Computer." It's like regular transactions had a baby with a crystal ball, able to account for future events. Web3 developers, start your engines!
🌍️ Story of the Week
Sam Altman Wants Brazilian Eyeballs (For a Good Cause, He Promises!). In what sounds like a plot from a tech dystopia novel, Sam Altman's World project (formerly Worldcoin) has launched in Brazil, armed with mysterious orbs ready to scan 215 million pairs of Brazilian eyeballs 👁️
The pitch is simple enough: in a future crawling with AI bots 🤖 , wouldn't you like to prove you're human? Just let them scan your irises, and they'll reward you with some crypto tokens 🤑 – a trade that's already convinced 7.5 million people worldwide to participate in this ocular adventure.
World ID verification is now available in Brazil 🇧🇷
— World (@worldcoin)
3:01 PM • Nov 12, 2024
The project's grand ambition to "assign digital identifications to every human on the planet" might seem bold, especially considering they've faced bans in several countries over privacy concerns 🛑
But Brazil, with its crypto-friendly attitude and massive population, represents their biggest opportunity yet to convince humans that the best way to protect their identity is to let a tech company scan their eyeballs. At least they're not asking for DNA samples... yet.
🔒 Major Token Unlocks of the Week
$OFN - 2.04% of the total supply will enter circulation on Nov 19, 2024.
$PPT - 2.16% of the total supply will enter circulation on Nov 19, 2024.
$DYDX - 1.80% of the total supply will enter circulation on Nov 21, 2024.
$SOPH - 2.39% of the total supply will enter circulation on Nov 25, 2024.
$TENET - 2.50% of the total supply will enter circulation on Nov 25, 2024.
Tenet ($TENET) just crashed over 95%, given that even more tokens are going to dilute its value, it may be a good buying opportunity to go in after the 25th of November. Stay vigilant! 👀
🗞️ From our Blog
💡 1 Minute Learning: ZK Rollups
Imagine you're ordering lunch for your entire office. Instead of everyone making individual trips to the restaurant (expensive and slow), you collect everyone's orders into one big list and make a single trip. That's basically what a ZK rollup does with blockchain transactions – bundles hundreds of them together to save time and money.
Here's the magic part: "ZK" stands for "Zero-Knowledge," which means these bundles can prove they're legitimate without showing all the nitty-gritty details. It's like telling the restaurant, "Trust me, I've mathematically proven that all 50 orders are real" without showing each person's credit card.
🤯 Mind-Blowing Fact: While a single Ethereum transaction might cost you $5, a ZK rollup can process your transaction for pennies. It's why major crypto projects are jumping on the ZK bandwagon faster than you can say "gas fees."
Now you're smarter than 99% of crypto Twitter! 😉
And that’s a wrap! 🎉 Enjoyed this newsletter? Forward it to a friend, and let them know they can subscribe here.
Got any ideas or feedback? We’d love to hear from you! Drop us an email at [email protected].
DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and not investment advice or a solicitation to buy or sell any assets or make financial decisions. Always do your own research and stay safe out there.