Minority Mindset

The stratagem was as swift as it was brilliant. With a 40x leverage on BTC and a 10x on HYPE, Wynn, our modern-day alchemist, transmuted his $467,999 into a staggering $473,900 in profit. A veritable Midas, if ever there was one! 🤴💰

In a recent post on X, analyst Ali Martinez has discussed a crossover that has occurred in the MVRV Ratio of XRP. The “MVRV Ratio” is a popular on-chain indicator that keeps track of the ratio between the asset’s Market Cap and Realized Cap.

The grand spectacle commenced around July 9, with momentum akin to a runaway horse on a sunny day, dashing into the following days with fervor. XRP shattered the $3 resistance like an overzealous glass-collector at a flea market—first a sturdy wall of support, now a defiant ceiling of resistance.

On July 18th, it was announced through a post on Backpack’s Chinese social media account (X) that they were launching a charitable, impartial service to aid the broader cryptocurrency community affected by the 2022 FTX crisis.

Last Thursday, the US House, presumably gathered in a room full of caffeine and good intentions, passed three crypto bills. Among them, the GENIUS Act, which—let’s be honest—isn’t exactly the name you’d expect for legislation. It supposedly stands for “Guiding and Establishing National Innovation for US Stablecoins Act.” (You could practically hear the committee patting themselves on the back, couldn’t you?) 🥳

Under the wise guidance of Chairman Tom Lee, this strategy isn’t just a mere flutter in the stock market’s dance, but a shake-up of the long-term corporate choreography. This milestone blossomed right after a generous $250 million private raise, throwing pebbles into the pool of investor enthusiasm, creating waves across the digital landscape.