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With over 597,000 BTC, which is a whopping 3% of Bitcoin’s total supply, this business intelligence company turned Bitcoin proxy is now what some folks are calling “crypto’s biggest liquidation risk.”
On a fine Sunday, bitcoin (BTC), the darling of the crypto world, soared to the dizzying heights of $119,000, reaching a new all-time high of $119,444 on the esteemed Bitstamp exchange. Throughout the week, BTC has continued its meteoric rise, breaking through the $112,000 barrier and climbing ever higher. Yet, despite this spectacular performance, the public’s curiosity, as measured by Google search activity, remains as tepid as a lukewarm cup of tea.
“Imagine for a moment,” he mused, “what if we were to redefine this entire narrative, shifting from 21 million coins to a staggering 21 billion? When one considers the ramifications of renaming each Bitcoin as 100K satoshis (not the commonplace 100M), the actual emission remains unchanged! Yet, would such a stroke of genius still evoke that precious feeling of scarcity?” He posed this rhetorical question on the hallowed abodes of X, asserting with indignant flair that the count of Bitcoin is “actually meaningless,” while undeniably proclaiming that “It’s the satoshi supply that counts.” Quite the philosophical conundrum, wouldn’t you agree? 🤔
According to Sethi, the PUMP sale was completed in less than sixty seconds, and the supply couldn’t meet the demand. A lot of people who came early in time attempted to purchase tokens but were unable to complete their orders due to system problems. Kraken verified its on-site order histories and user activity to identify the affected party.
But fear not, for this selling activity comes amidst a growing excitement in Ethereum’s institutional investment landscape. According to the ever-reliable SoSoValue, spot ETH ETFs attracted a staggering $205 million in net inflows yesterday, marking the sixth straight day of positive momentum. Quite the impressive streak, wouldn’t you agree?
Meanwhile, Tether continued its blockchain cleanup, GMX’s hacker had a change of heart, and Coinbase made an AI-powered move.
Now, hold onto your hats! Analysts are gabbling away that Bitcoin could reach a jaw-dropping $250,000 by the end of the year. Yes, you heard it right! Thomas Lee of Fundstrat Capital is convinced that a little supply-demand tango might just catapult BTC from its current couch to the moon! 🚀💥
Let’s take a gander at the top five weekly gainers based on price performance:
As XRP teeters on the edge of the $3 mark, its market cap a staggering $170 billion, Asakura points to the token’s expanding global adoption and long-term utility as the reason for its success. Banks and institutions, it seems, are finally taking notice. And why not? XRP’s role in cross-border finance is nothing short of strategic. đź’¸