Old Shiba Inu, Ethereum’s top meme coin, has weathered more shakeouts than a Jeeves novel has twists. Yet, it’s added a zero to its price as often as I’ve added a wrinkle to my brow-practically never. At $0.0000123, it’s still lounging in the same old armchair it’s occupied for months. Those sell-offs? Mere nuisances, like a dropped monocle at the Drones Club. 🕶️
Bitcoin (BTC) has entered what we’ll call a “correction” (a fancy term for “panic”) after falling 11% from its year-to-date high. But fear not! Sergey Nazarov, the genius behind Chainlink’s $16 billion wonder coin, is here to assure us that Bitcoin could soar to $1 million. Yes, you read that correctly. One. Million. Dollars. 🚀💰
One last dip before the breakout!
And what of our beloved Cardano (ADA)? Alas, it too has succumbed to the whims of the market, losing 1.63% over the past day. Such a fall from grace! 🌟
The fund manager, in their infinite wisdom, didn’t bother to stipulate the management fees in the S-1 filing. I guess they’ll just figure it out later, like a game of crypto Jenga! 🤔 Additionally, Canary Capital didn’t provide key details of the provider for custody services or the specific exchange where the ETF will be traded. Details, schmeails! 🙅♂️
The market, ever the vigilant observer, watches with bated breath to see if ADA can anchor itself at these levels or if the tempestuous winds of bearish momentum shall carry it further into the abyss, towards the ominous $0.73. 🌪️📉
In a particularly dramatic dispatch on X (where the decibels of doom reach operatic heights), Alpha Crypto Signal observed Bitcoin losing its precious horizontal support. There was a brief hope, a whisper that perhaps the market might rally and reclaim lost territory. Alas, the comeback was about as convincing as a second-rate chorus line. Unless Bitcoin stages a recovery with the confidence of a seasoned diva, every upward wiggle appears little more than bait for bearish wolves lurking in the stalls. Curtain up on further decline!
There is no cessation to their fervor. On a Tuesday late in August, they issued a communiqué detailing their activities for the week prior. With the proceeds from the vending of their own shares upon the open market-a curious alchemy, to be sure-they gathered $360.9 million. This sum was promptly exchanged for 56,533 ETH, each unit procured at the not-inconsiderable price of $4,462. One imagines the clerks, weary from such arithmetic.
The market, that fickle harpy, has turned its back on our dear ETH. Selling activity rises like a chorus of nosy neighbors, whispering of doom. 🦅📉 Will Ethereum plummet further, or will it find a miraculous nose to cling to? Only the ghosts of blockchain past know for sure! 👻
Ethereum had a brief moment of glory, hitting an intraday high of $4,671. But then, like a kid who ate too much candy, it got a bit wobbly and fell back to around $4,422-a 3.95% decline in the last 24 hours. According to the Ethereum Liquid Index (ELX) from Brave New Coin (BNC), the daily trading volume spiked 121% to $62 billion. It’s like everyone decided to play the slot machine at the same time, hoping to hit the jackpot. 🎰