Volatility Resumes!
Bottom IN? or One Leg Lower?
There’s no getting away from it, this week has been extremely volatile, with the last two days of the trading week seeing huge sell offs on $BTC the broader Crypto market.
But what’s been interesting is the accumulation from longer term holders & whales.
Early on in the week, we saw wallets holding between 100-100K $ETH accumulated 756.95K ETH.
And over the past month, Bitcoin whales have bought over $4 BILLION worth of $BTC. When big money starts accumulating, it is normally worth paying attention.
In terms of adoption we saw The New York Stock Exchange announce a partnership with Securitize, to build a platform where stocks can trade as blockchain tokens around the clock! Always impressive to see moves like this, especially when the market is in a heavy downturn.
We also saw Mastercard's Chief Product Officer state: "Stablecoins could help us expand into areas outside of our traditional strongholds, like B2B cross-border payments, remittances, and the creator and gig economies."
Further solidifying Cryptos role as a seamless option for traditional payments.
Looking at liquidity, we saw The Federal Reserve inject over $8 BILLION of fresh liquidity in to the markets via T Bill purchases.
And Hyperliquid HIP-3 posting HIGHEST daily trading volume with $5.4 BILLION!
Franklin Templeton partners with Ondo to tokenise all their ETFs, so people on-chain can enjoy the "awesomeness" of cheap beta. We also saw Fannie Mae, one of USAs largest mortgage lenders, are now set to accept crypto-backed mortgages for the first time ever!
Meanwhile, Fear & Greed plummeted once again to 10. It can take time for sentiment to change, but by the time that happens, the reversal is usually well underway.
Will this time be different?
That’s it from us today, be sure to follow us on X @Crypto_Crib_ to stay up to date with the latest market moving news!
See you next week!