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🦧 signs of life in crypto
www.wiseape.fyi

🦧 signs of life in crypto

Ape of Omaha
Jan 19
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🦧 signs of life in crypto
www.wiseape.fyi

things are up year-to-date

so far this year, bitcoin's up 24%, ethereum's up 26%, ripple's up 14%, and the total crypto market cap is up 21% as of writing

  • inflation is decelerating, and it's giving enough hope that the fed will slow down rate hikes, which may allow investors to return to more speculative assets like crypto

  • december nft volumes grew 5.2% to $401m from the previous month (although the figure used to be $5b+ in january 2022)

 
 

a couple signs of hope

  • after the whole debacle, ftx's advisers claim to have found $5b+ in crypto and cash assets (and more in illiquid forms) to help repay customers and investors

    • perhaps this is bringing major crypto prices back up, because "many believed the assets were completely gone"

  • luna, ftx, gemini, all these crypto projects or exchanges are struggling, but binance, the biggest crypto exchange and lender as of now, has announced plans to expand its workforce by 15~30% this year

    • this may be giving investors more optimism and trust that binance indeed is financially as sound and strong as its ceo ā€œczā€ has been claiming to be ever since the whole ftx fiasco

 
 

there’s no doubt we’re still in a wreckage though

  • genesis global, which owes a huge sum (est. $900m) to gemini's "earn" users, still is going through a liquidity crisis as users on gemini are unable to withdraw their "earn" balances

  • many predict that a major part of the frozen funds are impacted by the collapse of luna and the recent insolvency of ftx (est. $175m), which would make it very difficult for genesis and gemini to recover from the crisis

 
 

i understand that the crypto market’s worrisome to say the least at the moment, but if you’ve been following us for a while – i still do this with ethereum!

(not a recommendation, just sharing what i’m doing)

šŸ’” something im thinking about

white men now make up the minority of business owners in the us (click image)

that's all, folks šŸ’

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as always, i’m no financial advisor! (i’m no substitute for professional financial services)
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🦧 signs of life in crypto
www.wiseape.fyi
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