Pray, consider the state of the crypto exchange-traded fund (ETF) markets, which have been thrust into a most precarious situation this week. What began as a genteel tug-of-war between inflows and outflows has devolved into a veritable rout, with both bitcoin and ether ETFs suffering most grievously on Thursday, Sept. 25. One can only imagine the consternation among investors! 😓
A Constant Decline of Ethereum’s Whales
This little financial frolic values the company at a cool $15 billion, my dear-a milestone as Kraken pirouettes toward its much-anticipated public listing. Bravo! 👏💃
The inimitable Jim Cramer, that oracle of CNBC, has cast his discerning eye upon this speculative darling, warning the plebeian retail investors to tread with caution. For what, pray tell, could possibly go awry? Let us descend into this maelstrom of folly and fortune. 🎭
But hey, some analysts are still betting on “Uptober” as if it’s a magic spell. Seasonal tailwinds? Please. October’s just the month retail investors panic-sell and crypto bros start wearing bear-market sweaters. Let’s see how bullish this “bullish” phase is when your portfolio looks like a deflated balloon.
Right now, SUI is hobbling along more or less at $3.53, even after taking a 3.9% dip in the last 24 hours. Still, market sages note that this token has been stubbornly hanging on by its fingernails to the $3.20-$3.30 support zone, a launching pad for previous bullish shenanigans.
The Crypto Fear & Greed Index, once a beacon of reckless optimism, now mirrors the dreadful sentiment Bitcoin saw at $83,000.
The exchange, born in 2011, has now gorged on $527 million, a dragon’s nest of riches. Its financial performance, a tale of triumph, saw $411 million in revenue and $80 million in post-EBITDA earnings, making it the second most valuable private exchange-behind Coinbase, that paragon of virtue. One might say Kraken has outdone the Cossacks in the race for digital glory.
Behold Bitcoin Hyper’s grand design – a symphony of lowered fees, accelerated transactions, and dApp integration that would make even Bitcoin blush with inadequacy. Read on, dear pilgrim, as we dissect this technological sonnet.
Trading volume and deposits shrank like a cartoon balloon popping, adding to the sobriety of an already despondent domestic market. South Korea, previously brimming with spot cryptocurrency purchases bigger than a Lothlorien picnic, now finds itself in a pickle. 😯
