Whoart thou, Thumzup? Originally a modest platform promising young influencers the hope of free protein powder in exchange for their immortal souls-sorry, “brand exposure”-it has of late discovered that nothing warms investor hearts like the word “Bitcoin.” The fit was natural: if you can puff mascara, surely you can pump crypto, and with far fewer ingredients to list on the label. 😉
Ah, Microstrategy (Nasdaq: MSTR), a name that now dances upon the lips of investors, has found itself trading at a premium to the value of its underlying bitcoin. This curious phenomenon reflects not merely the whims of the market but rather a series of structural advantages that are as elusive as a shadow in the night. The premium, dear reader, is measured against the company’s net asset value (NAV), which, if one dares to ponder, represents the worth of its bitcoin holdings after the inevitable toll of liabilities has been accounted for. On the fateful day of August 13, Saylor took to the social media platform X, proclaiming:
Imagine a world where hackers from North Korea aren’t just hacking but moonlighting as job candidates, complete with voice changers and AI magic tricks. Binance, the ever-vigilant gatekeeper of digital gold, has issued a warning that these cyber Jaegers have escalated their game to the level of “we will infiltrate your company by pretending to want to work here.”
On the fateful day of August 12, the Qubic Pool unleashed its cunning plan, orchestrating a six-block chain reorg that rewrote Monero’s history from block height 3,475,995 to 3,476,000. Imagine the chaos! Exchanges and services, in a panic akin to a cat in a room full of rocking chairs, halted Monero deposits and withdrawals, mistakenly branding it a 51% attack during the mining wars. Oh, the irony! 😹
Ethereum, the blockchain equivalent of a caffeinated teenager, surged past $4,600, achieving a market cap of over $557 billion. Remember when ETH was chilling at $2,400 earlier this year? Yeah, neither does your bank account. This price surge means that buying a CryptoPunk for 50 ETH now feels like purchasing a luxury yacht instead of a modest boat. 😅
According to Santiment, the folks who specialize in tracking this sort of thing, Ethereum is now tantalizingly close to a historic milestone. But what’s this? Retail traders, the folks who are usually all “buy, buy, buy!” are instead playing the sell-off game. How quaint.
These edicts-multiplying across 15 jurisdictions like the Devil’s own spawn-drag developers into labyrinthine legal corridors from the United States to the mysterious archipelago of Japan, and even into the iron embrace of the old continent’s European Union. As if Svidrigailov himself were penning the rules! Those who wish to publish even the humblest wallet, whether it holds coins or mere illusions of coins, must bow to local licensing laws, like peasants to a capricious noble.
Two previous attempts, spikin’ to $122,300 on Monday and $123,000 back in July, were met with sellin’ so fierce, it knocked the price down like a toddler in a mud puddle. Below $120,000 both times, mind you.
At the heart of this tumultuous sea of financial activity stands DeFi Development Corp (DDC), a company so bold in its treasury strategy that it now boasts over 1.3 million SOL, a treasure trove worth nearly $250 million, which yields a princely sum of $63,000 daily in staking rewards. One cannot help but marvel at the 10% Annualized Organic Yield (AOY) and the validator operations that highlight Solana’s staking advantage over the staid, non-yielding assets like Bitcoin. It is as if Solana, with its dynamic and ever-expanding ecosystem, is the knight in shining armor, ready to vanquish the old guard.
If Monday was the declaration (“I do!” shouted the ETF groom), then Tuesday is the matrimonial banquet: salads of sats, roasted ETH loins, each bite perfumed by Nasdaq’s bandwidth. Two straight days, no outflows-crickets check their wallets and weep.
Meanwhile, the trading floor hums like a samovar; $3.19 billion swirl in a porcelain storm the color of Moscow dusk.