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In Brief Arthur Hayes rapidly ramps up altcoin purchases amid market optimism. His acquisitions include Ethereum, Pendle, Lido DAO, and Ether.fi. Market sentiment shifts to "greed" territory, aligning with Hayes’s strategic timing.
In Brief HBAR displays a sideways trend, declining 2% in 24 hours against market uptrends. Coinglass data shows $6.42 million outflows, indicating cautious investor sentiment. Technical indicators suggest continued weakening, with potential price pressure intensifying.
Whales have been accumulating Chainlink, Cardano, and PEPE in anticipation of the US CPI release, with LINK rising by 30%, ADA reaching a 14-day high, and PEPE seeing a 17% increase.
Global M2 money supply is climbing again, raising hopes for a potential Bitcoin price surge.Why M2 Matters for CryptoThe Road Ahead for BTC
Etherex sees a massive 503% TVL surge in 7 days, hitting $119.6M on Ethereum Layer 2 network Linea.What’s Driving the Surge?Implications for DeFi and Layer 2 Adoption
Large investors are scooping up millions in Chainlink, signaling rising confidence in LINK’s future.Millions Spent in Hours on LINKWhat This Means for the Market
- 21:55Sentinel Global founder: Stablecoins have all the risks of CBDCs as well as their own unique risksJinse Finance reported that Jeremy Kranz, founder and managing partner of venture capital firm Sentinel Global, stated that investors should "proceed with caution" when considering privately issued stablecoins, as stablecoins not only carry all the risks of central bank digital currencies (CBDCs) but also have their own unique risks. He noted that if JPMorgan were to issue a USD stablecoin and control it through the Patriot Act or other future legislation, they could freeze your funds and deprive you of your bank account. Investors should "discern right from wrong" and read the fine print of any stablecoin.
- 21:43A business entity related to YouTube celebrity MrBeast is reportedly set to enter the cryptocurrency sector.Jinse Finance reported that Beast Holdings, associated with YouTube celebrity MrBeast, has filed a trademark application for “MrBeast Financial” in the United States, with wording suggesting a potential entry into the cryptocurrency sector. The application includes services such as cryptocurrency payment processing, cryptocurrency exchange, and trading through decentralized exchanges (DEX). This move indicates a possible foray into fintech and Web3, potentially targeting MrBeast’s large audience and serving as a gateway or exchange for cryptocurrencies.
- 20:59The UK tax authorities have sent 65,000 letters to suspected cryptocurrency tax evaders.According to a report by Jinse Finance, the UK tax authority has sent 65,000 so-called "reminder letters" to individuals suspected of owing cryptocurrency taxes, more than double the number from last year, according to the Financial Times. In the UK, selling, exchanging, or spending cryptocurrency typically incurs capital gains tax, while staking rewards and airdrops are generally considered income.