I remember good old days when months after ATH, when most projects were already 95% down, we did research of which ones can reshuffle marketcap tops.
Now it starts to look like that:
#airdrops#crypto#altcoins
Today, there's a potential for a strong trigger, that could lead to a significant rise or fall in price. Given the current downward trend and negative pressure, an upward push would likely be stronger than downward one -> more late shorts than longs, overall signaling bearish trend. So, what event am I talking about?
Appellate court ruling on the @Grayscale vs. #SEC.
Winning in the appellate court doesn't mean that the Spot #Bitcoin ETF will be approved. The SEC will have 45 days to appeal the decision, but this would increase the chances for the ETF approval. The thing with news is that it evokes emotions, which should lead to buying/selling pressure depending on the court's result. Knowing where the court's opinion will be published, one can use it to their advantage. Once the document appears on the site: https://t.co/GN1Zp018YS
It's crucial to analyze it; positive content = bullish sentiment and at least a notable rebound. Negative content favoring the SEC = continued declines. The decision might or might not be announced today, but it's essential to keep an eye on it. It's not a certainty that it will happen today. In that case, look forward to next Tuesday and Friday.
If the verdict is positive, there are several intriguing plays:
1) Long GBTC – the discount to NAV should shrink to -10%? It might even approach 0% in a euphoric scenario?
2) Long on cryptocurrencies considered to be growth favorites and, of course, long on #Btc, as it should be among the top risers. Or simply go long on whatever has dipped the most recently.
3) Long on #Grayscale products – i.e., on cryptocurrencies, that Grayscale offers. Grayscale will undoubtedly want to convert to ETFs on its other products as well, creating potential narratives.
The most interesting products from #Grayscale for speculation, that they might try to convert them to ETFs are: #ADA and #XRP. #Ripple, since they won their legal case, and ADA, as there are very few tokens in circulation, and it has been in stagnation lately. Cardano's market cap is substantial, but over 60% of its tokens are in staking, which limits potential dumps during a rise.
Huge thanks to @EricBalchunas, @SGJohnsson and @JSeyff for their analyses and for sharing their insights. If you aren't following them yet, I highly recommend do it :)
#spartananalytics #Bitcoin
@gguoss@soswap_finance
Hey. On https://t.co/21Nr12TuXC 1 $USB is worth about $0.42 USDC (same for USDT, BUSD).
It also causes unrealistic prices on Info subpage, like $PCX = $1.21 (right now) etc., cause you pegged $USB price to $1.
Please fix it.
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