Crypto Personalities: Gerald Cotten

The story of Gerald Cotten resembles a thriller worthy of a film adaptation (and it is—Netflix made a documentary about the Canadian “cryptocurrency king”).

According to the official version, Cotten died at the age of 30 from complications of Crohn’s disease, with users of his cryptocurrency exchange QuadrigaCX losing access to their assets totaling $190 million because Cotten was the only person who knew the passwords to the cold vaults.

Many rumors and conspiracy theories have popped up in the community, from suggestions that Cotten actually faked his death to take users’ cryptocurrency to versions that he was murdered by his own wife. None of these hypotheses, however, has received reliable evidence.

Speaking of which, the Ontario Securities Commission revealed that QuadrigaCX was, in fact, a Ponzi scheme.

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In 1790, the U.S. national debt was only 70 million dollars.

By 1980 it had reached $1 trillion → a journey of 220 years.

Now it has reached the staggering sum of $34.5 trillion.

Here's what's happening to the fiat system and why it's worth abandoning it

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⭐️ What the crowd believes in

This platform (https://app.orioleinsights.io/projects) shows the sentiment, i.e. the sentiment on a certain asset.

As we can see that on BNB as much as 95% believe in the growth of the coin.

TON is also doing very well, 82% is a cool result 🤩

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What are Bitcoin Ordinals (aka BRC-20)?

Let’s explain in a simple way the essence of the most, perhaps, hyped phenomenon of 2023 on the Bitcoin network.

The BRC-20 standard was introduced in March 2023 by a developer under the pseudonym Domo. The standard utilizes the Bitcoin Ordinals protocol, which allows for additional data to be added to individual satoshis (the smallest unit of BTC), essentially allowing for the creation of tokens within the Bitcoin blockchain.

Let’s keep it even simpler:

The Ordinals protocol allows you to “write a note” on one of these satoshis as if you were to take a sharp needle and inscribe something on a coin.

An “inscription” can be anything from simple text to a picture or code, and thus a regular satoshi is turned into a unique token that is something like an NFT.

Implications:

BRC-20 proved so popular that it has overloaded the Bitcoin network 😂 Network fees reached up to $60 per transaction (!!!), and the speed of transaction processing slowed down significantly.

Now, the popularity of inscriptions on Bitcoin has since decreased, but this practice has moved to other blockchains, which tend to be unprepared for the influx of inscriptions and start to “crash” 🙂

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🧡Spot Bitcoin ETFs are the main drivers of the bull cycle we are currently in, according to analysts at CryptoQuant.

Issuers are pulling 28 times more coins out of the market than they are mining them. For example, on June 4, 12,500 BTC were redeemed with daily mining of 450 BTC.

If this trend continues, a BTC supply shock is imminent!

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The average profit of crypto investors in 2023 was $800.

CoinLedger analysts compared about 500,000 market participants from the United States, Australia, Canada, and other countries. They found that, on average, cryptocurrency investors made $888 per person in 2023, which is amazing since investors lost $7,102 in 2022, taking into account the collapse of FTX, of course. If FTX hadn’t, the losses would have been lower.

The report reveals that the most unpopular cryptocurrency was Ether (ETH). Crypto investors got rid of it most often. Solana (SOL), Bitcoin (BTC), BNB, and Polygon (MATIC) were also in the top five.

And Bitcoin is the least frequently sold.

Also, analysts named Coinbase the most popular CEX by number of transactions in 2023, but in reality, this is probably not true because most of the respondents live in the United States, where Coinbase is the leader.

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📊 Top 10 most liquid cryptocurrency exchanges in the second quarter of 2024, according to Kaiko

The top three are Binance, Bybit and Coinbase

From 1 to 10, where 1 is the maximum score

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🖤 BlackRock already has more than 300 thousand BTC worth $21 billion on its balance sheet.

BlackRock ETF (IBIT) is the absolute record holder among all ETFs. The closest competitor is the JPMorgan Equity Premium Income ETF, which has accumulated $20 billion in 985 days (7 times longer than BlackRock).

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Crypto Speak: BTM

“BTM” is a cryptocurrency ATM that allows you to buy and sell Bitcoin in public places.

Sometimes, they are called crypto ATMs, but let’s put it correctly, and the correct way to put it is BTM.

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🔎 Glassnode analyzed the number of losing coins from long-term holders

Only 4,900 BTC (0.03% of supply held by this cohort) were purchased above today's spot price

Given that the last ATH was only set in March (less than 155 days ago), it could be argued that these coins were purchased while still at the top of the 2021 cycle

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🧐 Keeping an eye on AI tokens

Santiment analysts urge to keep an eye on tokens such as: FET, OCEAN, AGIX and TAO.

📈 The reason is the surge in public attention to the AI sector, because of which, often follows the rise of the tokens involved.

Which AI tokens do you keep in your portfolio and why? 🤨

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Famous personalities who are waiting for Bitcoin at $500,000.

Today, let’s recharge our good spirits and meet influential experts who are serious about seeing BTC hit over half a million dollars.

▪️ ARK Invest CEO Cathie Wood

Well-known and influential in the financial world, Cathie Wood gives perhaps the most optimistic prediction on the future of the biggest cryptocurrency. She believes the price of Bitcoin could soar to $1.5 million by 2030 following the approval of a spot Bitcoin ETF.

▪️ Aurélien Ohayon, CEO of XOR Strategy

He believes Bitcoin could rise to $100,000 in early 2025 and later reach $500,000.

▪️ Well-known in the crypto community, user Mags assures that the halving could bring BTC closer to $300,000.

According to his scenario, the event will cause the asset to go parabolic.

▪️ Popular crypto trader Stockmoney Lizards

They believe that Bitcoin could rise to $280,000 in 2025, after which a correction will ensue.

Yes, there are indeed quite a few optimistic predictions in the market!

But please do not forget that there are also plenty of pessimists who do not share such a bright future for Bitcoin.

So, always think with a cool head and make informed decisions.

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📊 Dynamics of outflows/inflows of funds in ETF-BTC

We have already recorded 19 consecutive days of net inflows - a record.

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❗️Standard Chartered Bank: Bitcoin will reach $150,000 if Donald Trump wins the presidential election.

Gentlemen, what is your opinion?

🔥- Yes, there is a possibility, Trump is promoting crypto

🗿- I don't see the connection.

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Why don’t my funds get deposited?

A widespread problem for beginners: They transfer funds from one wallet to another, but the coins don’t get deposited.

Why?

There are 3 main reasons:

1. The processing speeds of blockchains. Sometimes, blockchains are slow, and transactions take longer than usual. For example, in Ethereum, transactions can sometimes last for hours.

2. Invalid network or address: You could have made a mistake when choosing the network. For example, if you transfer your USDT from the Tron network to the BNB Smart Chain network, the transaction will not pass. Make sure the network and address match.

3. A memo is not specified: Some blockchains require specifying a memo when sending transactions. A memo is a “comment” on a transaction. If necessary, the exchange will warn you what memo you should specify, so read the instructions carefully.

And one more general tip: If you’re making a transaction for the first time, make a test transfer by sending the minimum amount — e.g., 1 USDT. If it’s successful, it’s safe to send whatever amount you want to that address.

Don’t forget that, in the crypto world, it’s often impossible to return money lost or sent to a wrong address.

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❌Two major crypto hacks in one day - $40 million in losses.

First, hackers breached the DeFi protocol of UwU Lend for $20 million. Attackers withdrew WBTC and DAI and then converted them to ETH.

Now UK cryptocurrency exchange Lykke has been hacked for $22 million.

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📊RWA is the most successful sector in crypto in terms of capitalization growth last month with +59%.

The tokenized assets sector surpassed Bitcoin and Ethereum in terms of growth. On average, tokens in the RWA sector grew by 61.98% in May, while BTC and ETH grew by 14% and 26%, respectively.

Recall that the CEO of BlackRock believes that tokenization of assets will be the next big trend in crypto.

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Crypto speak: Gem

In crypto, a “gem” is a little-known token with a low market capitalization and great potential for price growth.

However, finding a gem is difficult. Not everything that has a small market capitalization is a profitable investment. More often than not, the market cap is small and the token is cheap simply because no one wants it!

But a real crypto gem can shoot up and grow in value by 10x or more.

Everyone wants to find a gem in the ocean of crypto, but few of them succeed)

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