0
0
Daily Brief

Mt. Gox Movements

gm Bankless Nation, Crypto's summer of bearishness has finally seem some relief, even as $9 billion in BTC is about to make its way into user wallets.
0
0
Jul 16, 2024 β€’ 3 min read
Mt. Gox Movements
Published on July 16, 2024
View in Browser

Sponsor: Uniswap Extension β€” Say goodbye to pop-ups. Download today.

.  .  .
NEED TO KNOW
Mt. Gox Movements
  1. 🍿 Mt. Gox Begins Mass BTC Transfers. $3.1 billion in BTC was just transferred to new addresses ahead of creditor repayments.
    Read more on Bankless.com
  2. 😬 Bridging Protocol LIFI Hit by Exploit. The protocol saw more than $10M in user funds drained due to a 'call injection' exploit.
    Read more on Bankless.com
  3. πŸ¦„ Uniswap Browser Extension Gets Public Rollout. Uniswap Labs has shipped its Chrome browser extension to a waitlist of nearly 800K users.
    Read more on Bankless.com
.  .  .
MARKET VIBES
Altcoins Blast Back

πŸ“Έ Daily Market Snapshot: The crypto pump of the past few days has sent altcoin assets climbing even faster than Bitcoin. Nearly two-thirds of the top 100 coins by market cap are outpacing BTC's already sizable 11% week-over-week gains. Some of the biggest winners? Worldcoin is up 42%, Stacks up 39%, and Maker up 32%.

Prices as of 6pm ET 24hr 7d
Crypto $2.36T β†—0.1% β†—10.8%
BTC $64,628 β†—0.5% β†—11.3%
ETH $3,430 β†˜1.2% β†—11.8%
INST $2.18 β†—0.3% β†—28.9%

πŸ”’
New Token Rating: Instadapp (INST) has been a top-performing token this week. Is the rally stretched, or is this token still a relative buy?
.  .  .
OPINION
The Everything Bubble
Bankless Author: Jack Inabinet

Each crypto bull cycle has brought exponential growth, both in terms of value creation and the growing number of people who believe they are part of a financial/technological revolution.

Crypto found itself in direct competition with AI to achieve these same bull market hallmarks this cycle and has simply failed to keep pace, depressing industry sentiment despite seemingly high dollar-denominated crypto prices.

Unfortunately, while AI has almost single-handedly catapulted stock indexes to new all-time highs, troubling warnings continue to suggest that markets are ensnared in an unprecedented bubble, with recent indications supporting the notion that it has begun to burst.

Read on for more bearishness πŸ‘‡


FRIEND & SPONSOR: UNISWAP

Say hello to the Uniswap Extension, the first wallet to live in your browser’s sidebar. Swap, sign, send, and receive crypto anywhere on the web without dealing with pop-ups. Designed for a multichain world, with support for 11+ networks.

.  .  .
TAKE ACTION
What We're Doing

Each week, Citizens get a curated list of market opportunities that the Bankless team is watching. As a free subscriber, you're missing out! πŸ‘‡

.  .  .
GO BANKLESS
Don't Miss Another Airdrop!

Thousands of Bankless Citizens scored an average of $3,500 worth of tokens after Ether.fi's airdrop. Did you miss out again?

Ether.fi was in the Bankless Airdrop Hunter, and you could have gotten into the latest drop by following our quests! There are nearly 100 other crypto protocols in Airdrop Hunter waiting for you.

Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.

Account Light mode Log Out