It'd actually be dope to have decentralized stablecoins being used for grants on rotating basis. crvUSD, BOLD, GHO, DOLA, frxUSD? Or even non-dollar ones?
You can find this 100 year old schematic all over the internet, telling you that this type of PA is normal, natural, and has been recorded to occur for literally decades prior to the biggest expansion phases on record- and many of you are still panic selling into the absolute pico bottom.
If you never did any DD on @CurveFinance and/or never had any conviction in it in the first place- that's a different story.
But if you did your DD, understood the mechanics behind it, understood the investment thesis and ARE STILL selling into these lows out of fear, you are going against the literal playbook and what it's telling you to be doing here.
$CRV
$BTC will slowly grind up to $70k+ in July, trade sideways between $60k-$70k until September, will find a bottom by October, and trade above $80k before 2027.
Bookmark this.
LOL...what I find truly comical at this point is where are sellers even coming from beyond traders shorting. $CRV and $Link are at heavy support levels and way down from ATH's. Unlike other alts, these are not speculative projects. The rebound and rise will be historic.
.@zachxbt increased his bounty amount to $100k from his own pocket for providing info regarding business contracts, full chat logs, or similar tied to CEX market manipulation
Let's get these illicit actors for the sake of this industry
Yea it's interesting for sure.
A relatively massive amount of $BTC liquidations on this move down, getting close to rivaling October 10th, but OI actually trending up and significantly higher than the last time we were trading at our local range lows.
Funding has also been generally positive and spot premium also declining since our local highs.
OI here is measured in "coins" but if you measure it in dollars it has decreased by about 20% which is the same amount that price has dropped from our range highs to our lows- which implies that there hasn't really been any major decrease in positioning, despite the significant liquidations.
All seems to suggest longs continued piling into Bitcoin to replace those getting liquidated during the move from our range highs to our range lows which was primarily caused by aggressive spot selling.
The one positive thing to note is that funding over the last couple of days has dropped significantly which could indicate spot sellers tapering off or aggressive short sellers jumping in at our range lows.
Either is a good sign for bulls but will have to see how this data develops in the coming days.
When our major alt season happened in 2017 it was after BTC peaked, dropped 50% from the highs, found a floor, and then BOUNCED for it's first major relief rally that we finally saw alts go ballistic (total altcoin marketcap tripled off the lows and made new ATH from this point).
As $BTC approaches 60k, some 50% below prior ATH, many are noticing the relative strength in alts at these levels as BTC melts but many alts hold relatively "steady", sending BTC dominance down in the first significant pullback on BTC dom that we have had in nearly 8 months.
I think once $BTC finds a floor here we may finally see a significant correction on BTC dominance as alts outperform to the upside- just as we saw after the last cycle top in 2017.
The only major difference between the current situation and the one in 2017 was in the former all this took place post blow off top and in the latter we are still missing one (leaving the door open for a "temporary" resurgence in BTC dominance if this were to materialize down the road).
In any case, the predominant narrative from a few months ago of an "endlessly rising Bitcoin dominance as alts go to zero" is slowly starting to show some cracks...