On the ninth day of November, Yu Xian, the sage of SlowMist, proclaimed that his vigilant sentinels had uncovered a burgeoning plague of victims, all ensnared by the malevolent clutches of a cabal known as Eleven Drainer. đ đ”ïžââïž
This ainât the first rodeo for the bulls and bears. The marketâs been a seesaw since time immemorial, but lately, itâs more like a broken seesaw-lopsided and unpredictable. On-chain data, that modern-day oracle, whispers of a possible price plunge. Whether itâs a storm or just a drizzle remains to be seen, but the airâs definitely got that âsomethingâs comingâ vibe.
Oh, how the RWA stack thickens! Itâs like a scrumptious buffet of private credit, tokenized Treasuries, commodities, and alternative funds – all served up piping hot onchain. Meanwhile, stablecoins are stumbling, their pegs slipping like a bad pair of socks in a wet shower. Canât win âem all, eh? Stablecoin drama!
In a recent tĂȘte-Ă -tĂȘte with FOX News on a Friday in late November, CZ, ever the picture of genteel surprise, admitted to getting more startled than a startled tophat in a room filled with jugglers upon hearing heâs been pardoned. Merely three years prior, in the tumultuous days of 2023, CZ found himself in the company of the unpleasant upon pleading guilty to those dastardly anti-money-laundering transgressions.
On-chain data from CryptoQuant-that modern oracle of the digital age-reveals a tale as old as time itself: long-term holders, those stoic guardians of the crypt, have been cashing in their chips. Yet, the market, once a voracious beast, now yawns indifferently, its appetite for their sell-offs waning. A tragedy? Perhaps. A comedy? Most certainly. đđ
As the fourth quarter unfolds like a dark comedy, we witness a curious psychological schism. Realized losses spiral upwards, and the once-daring traders now cling desperately to profit-taking. In this light, expecting another gallant ride akin to Q3 seems akin to trusting a swan to win a rowboat race.
According to Jeff Mei, the Chief Operating Officer at BTSE (or as I like to call him, the Crypto Cassandra), the recent retreat in digital assets is all thanks to the AI stock bubble. âIf AI stocks collapse,â Mei warns, âcrypto will be left holding the bag. Itâs like a game of hot potato, but everyoneâs got burnt fingers.â đ„đ„
In his latest remarks-which may or may not have been delivered while standing on a soapbox made of solid gold-the son of a certain former U.S. President declared that Bitcoin is hotter than a laptop running Crysis on max settings. According to him, everyone from your grandmaâs investment club to entire nations are now frantically piling into crypto like itâs a Black Friday sale at the Metaverse Walmart.
Investors, you see, ainât been all bourbon and cigars the whole second half-they been busy chasing every shiny good that come a-dippinâ its hat in their mailbox. âThereâs a bushel of shiny trinkets out there causinâ tides to rise,â Thorn muttered, speakinâ of AI, gold, and them fancy nuclear doodads. âBut give me the privilege of my time, and Iâll buy us a cheaper steak.â
