Madisson
@krafton
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270 Followers
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📉 Binance Market Share Hits Four-Year Low
Binance's share of the combined spot and derivatives trading volume in the centralized exchange (CEX) market has dropped to 36.6%, its lowest level since September 2020, according to a CCData report (https://ccdata.io/reports/exchange-review-september-2024).🧐
In September, Binance's spot trading volume fell by 23% compared to August, reducing its market share to 27%. Derivatives trading also saw a 21% decline, leaving Binance with 40.7% of the CEX segment. 🤷
Crypto.com emerged as a beneficiary, increasing its total volume by over 40% month-on-month, reaching a 10.5% market share. 📈
Total CEX trading volume dropped by 17% in September to $4.34 trillion, marking the lowest since June. However, analysts expect increased activity in the coming months, driven by factors such as rising market liquidity and the upcoming US elections. 🚀 0 reply
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🐋 Whales are selling off their Ethereum reserves!
👀 Over the past 7 days, one of the major Ethereum whales from the ICO era transferred (https://platform.spotonchain.ai/en/entity/2179) 21,490 ETH ($55.2M) to the Kraken exchange. This whale received 150,000 ETH in 2015 when it was worth just $46,600 and has been selling off their holdings since 2019, with 40,000 ETH sold to date. Currently, they hold 110,000 ETH (worth $271M) across 8 wallets.
💰 Another investor, who bought 21,636 ETH in 2016 at $6.9, sold (https://etherscan.io/address/0x147593C9875a11e9F4102974fD91fa825AA2eEFE) their last coins yesterday, securing a total profit of $58M.
What's next for Ethereum's price? 🧐 0 reply
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PlanB is confident in the rise of BTC to $500,000 in this halving cycle (2024-2028)
🧑💻 The well-known trader continues to stand by his incredible price predictions for Bitcoin, even suggesting that the cryptocurrency could reach $1 million in the coming years. 🙀
This aligns with his devised "Standard Deviation (STDEV) range" of $250,000 around a base price of $500,000. 📝
To support his claims, PlanB recalls his 2020-2024 forecast using the Stock-to-Flow model, made back in 2019, which predicted a price of $51,000 for Bitcoin, with an STDEV of $25,000 to $100,000. 📈 0 reply
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📉 Fed Rate Cut Could Crash Crypto Markets, Warns Arthur Hayes 🙀
Arthur Hayes, co-founder of BitMEX, predicts that a Federal Reserve rate cut could lead to a crash in risk assets, including cryptocurrencies. 🤔
Expected to be announced soon, this cut may exacerbate inflation and strengthen the Japanese yen, which historically triggers market volatility. 📊
👀 Hayes argues that lower borrowing costs will fuel inflation, complicating the economic landscape. He highlights that a stronger yen could force investors to unwind positions financed by yen loans, as seen in August when Bitcoin plummeted from $64,000 to $50,000 due to similar dynamics.
Despite the potential immediate negative impact on the crypto market, Hayes notes that ultra-low interest rates might eventually reignite interest in yield-bearing assets like Ethereum (ETH), which offers staking yields. 🧐
He believes that as central banks lose relevance, crypto will emerge as a portable asset in a shifting economic landscape. 🌐 0 reply
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