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The Crypto Minute
Your Weekly Guide to Surviving the Crypto Rollercoaster.
CoinBrain
December 16, 2024 • Reading Time: 11 minutes
Welcome to a new issue of Crypto Minute by CoinBrain! This week’s newsletter is packed tighter than a memecoin moonbag 💰️ We’re diving into memecoins with names you’d never say in front of Grandma.
So grab your coffee, your crypto wallet, and maybe a gas mask (you’ll see why later), and let’s jump in! 💨
⤵️ Today’s Agenda:
We have Trump-backed World Liberty Financial investing millions in DeFi altcoins $LINK, $AAVE, and $ENA 🔥
Bitcoin has got a fresh new ATH of $106K following the talks of $BTC as a US treasury reserve asset 🇺🇸
The crypto world is fearing potential quantum threat 🫢
Truth Terminal’s newest creation Fartcoin 💨 is making serious gains!
And more…
📊 Market Snapshot
| $104,800BTC+5.15% | $3,900ETH+1.3% | $3.69TCrypto Market Cap+1.3% | 80 (Extreme Greed)Fear & Greed Index-3 from last week |
📅 Crypto Events You don’t want to Miss
Wednesday, Nov 18th - Super important Federal Reserve spotlight
1️⃣ US Federal Funds Rate Announcement
This is the event that every market is glued to! The Federal Reserve will decide whether to change the benchmark interest rate, a move that can either soothe or spook markets globally.
A rate hike often signals tighter monetary policy, which could pressure risk assets like crypto. Expect volatility no matter the outcome.
2️⃣ FOMC Economic Projections
This quarterly report gives traders insights into how the Fed sees the economy performing in the months ahead. A more hawkish (tightening-focused) ⬇️ projection could weigh on crypto sentiment, while dovish (growth-friendly) ⬆️ notes might bolster optimism.
3️⃣ FOMC Statement
The wording here is everything! The statement will summarize the Fed's rationale behind its decisions and may hint at what lies ahead. Markets parse every phrase to gauge future monetary policy moves — so watch this space!
4️⃣ FOMC Press Conference
Fed Chair Jerome Powell’s live Q&A is where the real fireworks happen. Crypto markets often react strongly to Powell’s tone and remarks, especially regarding inflation trends or the possibility of future rate hikes.
🐋Smart Money Tracker
Tuesday, Dec 10th: On this day 571,838 traders were liquidated with a total of $1.72B wiped out of market. One whale got liquidated for $19.69M when $ETH dropped to $3,613.
Wednesday, Dec 11th: An airdrop hunter claimed 398,399 $ME ($2.14M) via more than 1,350 wallets!
So far, 54,930 $ME ($477K) has been sold via DEX at an average price of $8.68, while the remaining tokens have been transferred to Binance.
Thursday, Dec 12th: Trump’s blockchain project World Liberty Financial is buying massive amounts of $ETH, $LINK, and $AAVE.
On this day their multisig wallet spent over 10M $USDC acquiring DeFi projects. Bullish stuff! 🔥
Thursday, Dec 12th: Whales are buying $LINK! ⛓️ A whale spent 1,263 $ETH ($4.94M) to buy 175,424 $LINK at $28.18 on this day. What’s happening with $LINK? 🤔
Saturday, Dec 14th: A PEPE whale that had been dormant for 600 days transferred all 2.1T $PEPE ($52M) to a new address. This whale initially only spent 0.0135 $ETH ($27) to buy 2.1T $PEPE and has held it until now.
From $27 to $52M—an extraordinary 1,900,000x return! 🤑
Sunday and Monday Dec 15th to 16th: Trump’s blockchain project World Liberty Financial spent:
Source: Lookonchain
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📰 News Recap (Dec 10 to 16)
📈 Bitcoin Rockets to New Heights and Texas Says Yeehaw! Bitcoin’s momentum increased after President-elect Donald Trump's call for a U.S. strategic Bitcoin reserve. Adding to the excitement, a Texas lawmaker introduced a bill proposing the creation of such a reserve, positioning Bitcoin alongside gold and foreign currencies as a national financial asset.
Analysts like Martin Leinweber are eyeing a potential $150,000 valuation for Bitcoin in 2025—though market swings could still play spoiler.
💲 Stablecoins Strengthen the dollar worldwide. Citi Wealth strategists unveiled an unexpected trend: stablecoins, pegged mostly to the U.S. dollar, are actually bolstering the dollar's global dominance rather than challenging it.
With over 80% of crypto trading tied to USD-backed coins, this innovation is making the greenback more accessible worldwide. If regulators can sort out the legal kinks, stablecoins might spark greater demand for U.S. Treasuries and deepen their role in the financial system.
🤔 Quantum Computing: Hype vs. Reality. Google’s shiny new quantum chip, Willow, sparked chatter about whether quantum computers could break Bitcoin’s encryption. But experts are quick to say, “Chill.” With just 105 qubits, Willow is far from a Bitcoin breaker—it would need millions more to pose a threat.
And even if that day comes, Bitcoin’s brainy community already has quantum-resistant plans up its sleeve.
🌍️ Story of the Week
💨 Recently, one token is causing quite the stink, literally - Fartcoin, born from the brain (or circuits) of AI agent Truth Terminal. With a $725 million market cap, it’s ready to conquer its older sibling, $GOAT, the OG memecoin of Truth Terminal. And while $GOAT has been dragging its hooves with a recent dip, Fartcoin has left traders excited with its unexpected independence.
The Stink Marines—a devoted fanbase with a flair for absurdity—are rallying behind the token, celebrating the fact that a memecoin named Fartcoin is worth more than some publicly traded companies. Truth Terminal, the memecoin mastermind, is cashing in big. Holding 2% of Fartcoin’s supply (roughly $14.5 million), the AI agent is now sitting on a formidable cash pile 💵
What makes Fartcoin special? For starters, it’s no longer riding on GOAT’s coattails. Unlike other copycat tokens, Fartcoin’s trajectory has broken free from the power law correlation that often ties memecoins together. From its spontaneous birth in the Infinite Backrooms (a mysterious AI brainstorming hub) to its viral rise, Fartcoin proves that the quirkiest ideas often dominate the market.
Source: @boldleonidas
🔒 Major Token Unlocks of the Week
Discover the most significant crypto token unlocks for the week of December 17th to 23rd, featuring major releases from $APE, $PPT, $DYDX, and other top projects. Details here.
🗞️ From our Blog
💡 1 Minute Learning: Slippage
Ever notice you paid more (or got less) than expected when swapping tokens? That’s slippage—the difference between the expected price of a trade and the actual price you get. It happens when there’s low liquidity or high volatility, two things crypto markets love to serve up.
Here’s how it works: When you place a large order or trade on a thinly traded asset, your transaction eats into the available liquidity, moving the price against you. This means you’ll pay more for buying or receive less when selling than you anticipated. Annoying, right?
To dodge slippage, try these tips:
Set a slippage tolerance: Most decentralized exchanges (DEXs) let you limit how much price movement you’re willing to accept.
Trade in smaller chunks: Splitting up your trades can reduce market impact.
Stick to liquid assets: Tokens with high trading volumes tend to have less slippage.
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.