Crypto Shifts Ahead
Dive into the latest crypto trends, from U.S. policy changes to global market shifts and innovative uses.
In recent weeks, the cryptocurrency landscape has seen several notable developments.
Bitcoin and US Policy
Senator Cynthia Lummis has reintroduced the BITCOIN Act, aiming to increase the U.S. strategic bitcoin reserve to 1 million BTC. This proposal suggests that the U.S. should start purchasing bitcoins, which contradicts statements from crypto influencer David Sachs that the reserve won't be filled using taxpayer funds. Meanwhile, Bitwise launched the Bitcoin Standard Corporations ETF (OWNB), offering investors exposure to companies adopting the bitcoin standard. Currently, over 70 companies hold more than 650,000 BTC, and OWNB will track corporations with balances of at least 1,000 BTC.
Market Trends and Losses
Retail owners of BTC, holding less than 1 BTC, are selling their coins, mirroring a pattern seen in late 2020. This group now holds 35% more BTC than in 2020. Additionally, the DeFi project World Liberty Financial reported a floating loss of $124 million across nine altcoins. Celebrity influence also played a role, as Kanye West's retweet briefly boosted a meme coin's capitalization before it crashed.
Global Crypto Use
Russia is using cryptocurrencies like Bitcoin and Ethereum to trade oil with China and India, bypassing Western sanctions. This involves converting yuan and rupees into cryptocurrencies and then into rubles. The use of cryptocurrencies is expected to continue even if sanctions are lifted. Meanwhile, TON saw significant gains following rumors about Pavel Durov's potential legal issues being resolved.
Other Developments
The Trump family was reportedly in talks to acquire a stake in Binance US, but CZ denied any such deal. Additionally, FTX's reorganization plan is under threat due to increased legal claims from Three Arrows Capital. In a display of crypto enthusiasm, a massive Bitcoin logo was created in the Texas night sky using 1,000 drones.
Top Market Makers and Influencers on Meme Coin Growth Signals
We collected and analyzed all mentions of Solana Memecoins in X (formerly Twitter) posts over the past 2 months from the most famous Market Makers and Influencers. We tracked how much Memecoin grew by percent after each mention for 20 minutes, 1 hour, 2 hours, etc. You can see how Market Makers predict the growth of Memecoins. Data is updated every week.
