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Is BlackRock preparing for the bull run?
What Happened to Cryptocurrencies Today: Is BlackRock Preparing for the Bull Run?
Here’s a meme to sum up the current market condition (or should we say “chaos”?)!
The confusing and chaotic energy of this scene is basically what is happening in the cryptocurrency industry lately with the rise of political meme coins.
These satirical (and promotional) digital currencies inspired by political figures and internet memes have been in the spotlight this week. Trump’s vocal support for cryptocurrencies in recent months and his $10 million cryptocurrency portfolio have given these coins an air of legitimacy.
Just when people thought memecoins couldn’t go any further in terms of creativity, we created a whole new subcategory based on famous politicians!
But one thing is for sure: this wave of memecoins is demanding attention and shaking up the landscape in wild and noteworthy ways. Whether you find them funny or disconcerting, they are impossible to ignore.
Speaking of shaking things up, let’s take a look at some of today’s top cryptocurrency news:
TL;DR:
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Mt. Gox transfers billions into BTC, causing prices to drop 😲 But why transfer billion dollars suddenly?
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Solana validators get to keep 100% of priority commissions 💰Will it go down? Solana’s price in the long run?
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BlackRock Loads More Bitcoin! 🐳 It’s the company getting ready for the running of the bulls?
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Trump’s Crypto Wallet Reaches $10 Million 💵 What tokens is he holding him and how can we track him?
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PEPE seems to be trending again 🐸 What is pumping this frog themed memecoin?
Let’s dive into these stories!
What is causing the price of Bitcoin to drop?
The cryptocurrency market saw a bit of FUD as wallets linked to the infamous bitcoin exchange Mt. Gox initiated a series of large transfers totaling over $9 billion in BTC.
The substantial movement of more than 140,000 bitcoins from Mt. Gox-linked wallets to unknown addresses immediately spooked traders. The price of Bitcoin reacted immediately, plunging more than 2.3% from around $70,000 to $67,680 in a matter of hours.
The sell-off highlights lingering market concerns about the potential selling pressure of Mt. Gox’s remaining bitcoin holdings.
The exchange was once the largest bitcoin trading platform before its catastrophic downfall in 2014, after losing around 850,000 BTC in hacks, worth billions at today’s prices.
Why is he suddenly transferring billions of dollars worth of Bitcoin? Read the full story!
Solana validators to get the whole pie
Solana just kicked off a vote on governance that has the community abuzz.
The decision? Validators can retain 100% of these priority commissions.
Now, this move represents a clear break with the old system in which half of those taxes went up in smoke. The idea? Eliminates shady deals that some validators were cutting to skip the transaction line.
The story continues
With the entire fee going to the nodes, Solana aims for a smoother and safer ride.
But not everyone agrees with the removal of the burning mechanism. Some fear that the supply of SOL could trigger a flare-up of inflation in the future.
Can it potentially drive Solana’s price down in the long term? Read the full story!
The Wall Street giant is making large investments in Bitcoin
BlackRock just revealed that it is loading up on shares of its own Bitcoin ETF, the iShares Bitcoin Trust (IBIT).
But what pushed Wall Street whales to take the plunge into BTC? Well, with over $19 billion worth of Bitcoin under its belt, the iShares Bitcoin Trust is a pretty worthy target.
And with Bitcoin spot ETFs officially holding over 1 million BTC ($68 billion) worldwide, the FOMO appears to be real!
Is the company preparing for the bull run? Read the full story!
Trump’s Crypto Stash Reaches $10 Million
Donald Trump just reached a milestone in the cryptocurrency industry!
The former president’s digital asset portfolio has surpassed the $10 million mark.
The surge was fueled primarily by the aptly named MAGA memecoin TRUMP. The token hit an all-time high of $15.44 on May 29, earning The Donald a nice chunk of the blockchain.
Trump has been feeling quite curious about cryptocurrencies lately. Just last week, he gave the green light to crypto companies and the industry as a whole.
The Trump 2024 campaign also wasted no time in capitalizing on the cryptocurrency buzz, launching a donation page to allow supporters to fill the trunk with their digital assets.
What other tokens does he have in his hand? And how can we trace her wallet? Read the full story!
And last but not least, let’s talk about PEPE!
The frog inspired PEPPER the token is reaching new heights and traders are piling into the pond.
In the last month alone, the number of daily active PEPE addresses has doubled, skyrocketing by 230%.
While other memecoins are catching up, PEPE is leading the pack.
Now, what is causing PEPE’s price surge? Read the full story!
And this is all. We’ll be back with more updates!
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