Advertisement
Advertisement
blog

Bitcoin Ready to PUMP? (Solana EXPLODES & Coinbase in TROUBLE)

Welcome to the daily crypto wrap up where i give you all today's, crypto news in three minutes, all right guys! So, first, let's. Take a look at the markets right now. The overall crypto market cap is coming in around two trillion dollars: 2.

1 trillion dollars to be closer to exact. We see two trillion dollars being a strong line of support for the overall markets. Of course, bitcoin took another little hit today, going down below 46 000 dropping to 44 000 earlier in the day, but it has stabilized around 46 thousand dollars more on that in a little bit for the top gainers of the day, we got al goran coming in With a 50 gain, then we have uh iost with a 40 gain and near protocol with a 37 gain, our weave and also hbar posting good games, as well speaking of gains solana, also having a big day more on that.

So let's. Look at the first, the number one biggest crypto story of the day. The sec is saying they're, going to go after coinbase if they pursue a lending protocol kind of putting them in defy area. They're talking about their users.

Being able to you know receive four percent um returns on staking usdc through the coinbase platform. Sec did not like that. I talked about on the stream this morning. This is most likely just positioning in political theater, for both the coinbase and the sec.

Is we don't, think they're, actually going to go after coinbase, but this is a warning strike to those who may want to do something similar and also could be a warning to celsius and block fi. What the sec is planning to go after so number two story of the day is bitcoin.

Holding 46 000. now did drop a little below that earlier today, but overall we are seeing bitcoin, possibly stabilize now. What happened? Why did people, or why did the markets lose their minds? Well, it all had to do with a very large amount of open interest on the futures market to push the price down.

Now, who controls that the institutions, of course, and so they played a big role in pushing the price down, but after the dramatic fall in the beginning, what you see is retail investors furthering the panic and when the retail investors further the panic.

That means the market has a longer time to stabilize, and i think around this 46 000 level. We could be seeing that stabilization, so hopefully, tomorrow or the following day, we see the prices start going back up number three story of the day.

Solana. What gives with this thing, it just keeps pumping, looks like the big money behind solana are trying to will the price alone to put it into the minds of investors. That solana can compete with ethereum.

It went over 200 today, while the rest of the market over the last few days are down 10 to 20 percent, including cardano, bitcoin and ethereum all right guys that's it for the news today. If you guys, like this short format, please make sure to subscribe and uh, you know make comments down below on top stories of the day it's, all god be blessed good boy out.

Advertisement
Advertisement
Advertisement
Attribution

https://www.youtube.com/channel/UCjemQfjaXAzA-95RKoy9n_g