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The Crypto Minute
Your Weekly Guide to Surviving the Crypto Rollercoaster.
CoinBrain
November 25, 2024 • Reading Time: 8 minutes
Welcome to a new issue of Crypto Minute by CoinBrain! Markets are still racing and the memecoin mania is in its full force. New millionaires are being made with the click of a button and equally dramatic losses are on a daily menu 🤑
⤵️ Today’s Agenda:
We’ve got a 12-year-old who rugpulled his own $Quant token on a live stream (investors very angry 😠).
Sui network has experienced its first major outage for over 2 hours due to a bug. Definitely not a great look.
The guy behind the “just a chill guy“ meme is issuing copyright claims against the $CHILLGUY memecoin.
And more…
📊 Market Snapshot
| $98,200BTC+7.1% | $3,400ETH+8.9% | $3.36TCrypto Market Cap+10.1% | 87 (Extreme Greed)Fear & Greed Index+3 from last week |
📅 Crypto Events You don’t want to Miss
Wednesday, November 27th:
US Preliminary GDP (Gross Domestic Product) Report - This measures how much the entire US economy grew (or shrunk) compared to the previous quarter. This initial estimate is like a first draft.
Lower GDP ➡️ Lower Rates ➡️ Better conditions for crypto 💰️
Core PCE (Personal Consumption Expenditures) Price Index: This tracks the prices of what people actually buy, excluding volatile food and energy prices.
The Core PCE is super important because any signs of stubborn inflation might push the Fed to maintain higher rates longer (which crypto dislikes).
Thursday, November 28th: Floki Inu will launch the Valhalla mainnet. Players will be able to earn $FLOKI tokens by playing the Valhalla open-world game.
🐋Smart Money Tracker
Tuesday, Nov 19th: A whale withdrew 2,189 $BTC (around $200M) from Binance on this day. They currently hold over $2.19B worth of BTC 🤯 Looks like whales are not dumping yet!
Tuesday, Nov 19th: This trader turned $1.9K of $SOL into $3.67M worth of $ELIZA in just 2 hours making a multiple of 1,925x! What a cool sniper 🎯
Wednesday, Nov 20th: A kid created $Quant coin while live streaming and went viral. He sold 51M $Quant making a profit of $29.6K, however the $Quant he sold later reached a value of $4M.
He then created $lucy and $sorry making a profit of another 103 $SOL ($24K)!
Friday, Nov 22nd: A whale that accumulated 398,889 $ETH(currently worth $1.34B) at an average price of ~$6 is selling $ETH again! Could this be a sign that top is nearing?
This whale accumulated 398,889 $ETH(then worth $2.4M) between January 18 and March 10, 2016, at an average cost of ~$6 per $ETH. After remaining dormant for over 8 years, the whale reactivated on November 7 and began selling $ETH.
Saturday, Nov 23rd: On this day a lucky trader spent just 13 $SOL to buy 57.89M $FATHA on Pump.fun. $FATHA market cap exceeded $60M in just 40 minutes and this trader sold all at a high point, marking a 750x return!
Source: Lookonchain
📰 News Recap (Nov 19 to 25)
Winter is coming, and Russian crypto miners are feeling the chill! 🥶 The country has banned cryptocurrency mining in several regions, including areas near Lake Baikal and certain territories it claims to control. With crypto mining gobbling up a whopping 16 billion kilowatt-hours of electricity annually (that's 1.5% of Russia's total power consumption!), the government is pulling the plug to keep the lights on during the cold months.
The Sui Network had a bit of a "Did you try turning it off and on again?" moment 🙃 The blockchain experienced a sudden outage of over 2 hours due to a bug. While validators took an unexpected coffee break, the Mysten Labs team scrambled to get things back up and running. For a network that's still finding its feet since its mainnet launch such a hiccup could be an unfortunate PR.
From social media to crypto payments? ⛓️ Trump Media & Technology Group is making moves in the digital currency space with their trademark application for "TruthFi." The company behind Truth Social appears to be eyeing cryptocurrency payment processing, custody services, and digital asset trading. They're even reportedly window-shopping for crypto platform Bakkt – looks like someone's planning to make crypto payments "huge"!
🇺🇸 JUST IN: Trump Media files a trademark for “TruthFi” to offer digital wallets, crypto payments, and financial services.
— Cointelegraph (@Cointelegraph)
7:53 PM • Nov 21, 2024
🌍️ Story of the Week
When “Just a Chill Guy” Stops Being Chill: The internet's favorite relaxed doggo, created by artist Phillip Banks in 2023, has been living his best life as a viral sensation, winning hearts everywhere from TikTok feeds to the Twitter account of El Salvador's President – and that's when things got really interesting!
Someone decided to turn our laid-back friend into $CHILLGUY, a Solana-based memecoin that went from zero to hero faster than a puppy chasing a tennis ball. We're talking about a growth of 5,000% that had traders howling at the moon! The token's been making waves across trading platforms, with Raydium alone seeing enough daily trading action ($92 million!) to buy a lifetime supply of premium dog treats.
Banks, the artist behind our chill protagonist, is feeling anything but chill about his creation being used to make crypto millions without his blessing. While he's totally cool with brands sharing the good vibes, he's putting his paw down when it comes to unauthorized crypto shenanigans.
just putting it out there, chill guy has been copyrighted. like, legally. I'll be issuing takedowns on for-profit related things over the next few days
— philb (@PhillipBankss)
6:13 AM • Nov 21, 2024
🔒 Major Token Unlocks of the Week
$SANTOS unlocking 19% is a big deal! Projects usually unlock 2 - 5% monthly. This one could seriously shake up the price (maybe a potential shorting opportunity 😉)
Full unlock details here.
🗞️ From our Blog
💡 1 Minute Learning: Token Vesting
When new tokens are created for a project, not all of them are distributed at once. Instead, they’re released gradually (vested) over time to ensure that founders, developers, and even early investors stay committed and aligned with the project’s long-term goals.
Why does this matter? Without token vesting, a team could dump all their tokens right away, flooding the market and causing the token’s price to crash—aka a “rug pull.” 📉
Token vesting builds trust. It’s like locking up rewards behind a time-based safe, ensuring developers stay motivated and the community feels secure. You can check in real-time when vested tokens will be unlocking here.
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.