🦧 signs of life in crypto
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🦧 signs of life in crypto
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 “cz” 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)
💡 something im thinking about
white men now make up the minority of business owners in the us (click image)
that's all, folks 🐒
