Bitcoins - about to hit $5,000 per coin today!

[Mayday]

Hahaha funny how this cycle is turning everyone on their heads. BTC maxis certain no ETF. The crowd said it’s a definite No for May.

The last boss to defeat now is…… ETH ETF will underperform because it doesn’t have staking and nobody understands what ETH is…..

 I’m retarded bullish to late July!!!! ETH to 7,200!!

[obsidian]

Hahaha funny how this cycle is turning everyone on their heads. BTC maxis certain no ETF. The crowd said it’s a definite No for May.

The last boss to defeat now is…… ETH ETF will underperform because it doesn’t have staking and nobody understands what ETH is…..

 I’m retarded bullish to late July!!!! ETH to 7,200!!

No ETH EFT staking is good for me. The yields would have gone down a lot if the ETFs also got in on it. There are already 1 million validators - some think that's too many.

https://cointelegraph.com/news/ethereum-1-million-validators-too-much

Ethereum reaches 1M validators, community thinks it’s ‘too much’

While more validators could mean more security, community members think too many could be problematic.

The Ethereum network recently hit the one million validator milestone, with 32 million Ether currently staked, valued at approximately $114 billion based on current market prices.

On March 28, the Dune Analytics dashboard created by Hildobby to track Ethereum staking progress showed that the network achieved a validator count of one million, with the 32 million ETH staked accounting for 26% of the total supply.

The data also showed that around 30% of the ETH is staked using the Ethereum staking pool Lido, a liquid staking platform for proof-of-stake (PoS) cryptocurrencies.

Staking pools like Lido remain popular because they allow users with a smaller amount of ETH to pool their assets and participate.

Validators ensure the security of a blockchain by monitoring the network for any malicious transactions, such as double-spending, which is essentially spending the same currencies twice.

In Ethereum, validators participate in proposing and validating transactions within the network. Those who wish to participate in this process are required to stake 32 ETH. In return, they get a small portion of ETH as a reward.

While the number of validators could translate into higher security for a blockchain, some community members think too many validators could pose a problem.

[obsidian]

Solana ETF this cycle, or a few years down the road?

https://cointelegraph.com/news/cnbc-guest-sees-solana-etfs-next-sparking-debate

CNBC Fast Money trader says Solana ETFs ’probably’ next, sparking debate

CNBC contributor and crypto investor Brian Kelly said Solana is one of the “big three” coins, meaning it’s likely to be the next to receive ETF treatment.

Crypto investor and CNBC ‘Fast Money’ trader Brian Kelly sparked debate on Crypto X on Wednesday after suggesting that Solana (SOL) could be the next cryptocurrency to get a spot exchange-traded fund (ETF) in the United States.

Kelly made the prediction during the CNBC post-market talk show Fast Money on May 22, a day before the Securities and Exchange Commission is due to decide on at least one proposed spot Ether (ETH) ETF.

[obsidian]

This is interesting. Looks like Biden's handlers might be opting out of opposing/vetoing the recent crypto bill. The landscape for crypto has improved a little lately. Should we thank Trump since he openly came out in support of crypto? This is all very political.

https://qz.com/sec-chair-gary-gensler-criticizes-crypto-market-bill-1851493248

President Biden and SEC Chair oppose major crypto bill hours before voting

The bill will see a vote in the House in the afternoon, but President Biden isn’t threatening to veto it

Hours before the U.S. House of Representatives is set to vote on a crypto bill, president Biden released a statement saying that he is against the legislation, but he isn’t threatening to veto it.

The White House expressed opposition to the bill, ‘The Financial Innovation and Technology for the 21st Century Act (FIT21),’ on Wednesday afternoon, due to concerns over inadequate investor protections.

The bill, ‘The Financial Innovation and Technology for the 21st Century Act (FIT21), would effectively classify cryptocurrency as a commodity, not a security, and therefore make it exempt from securities regulations.

[obsidian]

Hahaha funny how this cycle is turning everyone on their heads. BTC maxis certain no ETF. The crowd said it’s a definite No for May.

The last boss to defeat now is…… ETH ETF will underperform because it doesn’t have staking and nobody understands what ETH is…..

 I’m retarded bullish to late July!!!! ETH to 7,200!!

Forgot to add, the other FUD narrative will be Grayscale outflows will dwarf ETF inflows. Also, some are saying the ETFs won't start trading until July. So it will take some time to see the effect on the price of ETH.

[Mayday]

The amount of ETH FUD in my Feed is nuts. When BTC was approved it was moon boys as far as the eyes could see.

It’s so full on I’m not sure whether it’s the Maxi Clan in full emotional meltdown or if it’s also driven because things are actually going to be turned on its head. I mean, it’s the kind of FUD stuff I saw at the very lows of stuff and the typical broke bastards are retweeting it at the speed of light.

Also most gurus who got everyone wrecked are repeating the FUD. So there’s that 😂

I may need to go more retarded than usual to offset the FUD.

[obsidian]

The amount of ETH FUD in my Feed is nuts. When BTC was approved it was moon boys as far as the eyes could see.

It’s so full on I’m not sure whether it’s the Maxi Clan in full emotional meltdown or if it’s also driven because things are actually going to be turned on its head. I mean, it’s the kind of FUD stuff I saw at the very lows of stuff and the typical broke bastards are retweeting it at the speed of light.

Also most gurus who got everyone wrecked are repeating the FUD. So there’s that 😂

I may need to go more retarded than usual to offset the FUD.

FUD is bullish! Extreme FUD reeks of desperate behavior. Seems to me you want to avoid stuff that's being overhyped, like the shoeshine boy did with the Hindenburg stock tip to Kennedy.

[Mayday]

Forgot to add, the other FUD narrative will be Grayscale outflows will dwarf ETF inflows.

Yeah I know that one. I was about a year ahead on that for BTC remember? I even said Barry got popped. I gave the heads up The CEO of Bitcoin Saylor was cashing in 100% of his MSTR shares and dumping.

Everyone now looking for Grayscale flows after being wrecked sub 76k.

But everyone is always wrong about everything, myself included. I have timing all fucked up but thankfully pricing has been pretty good and I follow my pricing, not my timing.

FUD is bullish! Extreme FUD reeks of desperate behavior. Seems to me you want to avoid stuff that's being overhyped, like the shoeshine boy did with the Hindenburg stock tip to Kennedy.

I’m already set in place, I am way ahead of the plebs. I even posted when I was buying and dumping so my calls are legit. I’d say there is a high chance I Dump it all soon. Everything.

[Griffith]

BTC maxis today 

[obsidian]

BTC maxis today 

Eric Wall | BIP-420😺

@ercwl
can’t believe bitcoin will have to compete on technical merit rather than regulatory privlege now

so sad. terrible

Chris Burniske

@cburniske
$ETH is 1/3 the network value of $BTC, with < 1/10th the daily issuance, and these approvals are coming as a market surprise - if flows are anything near the #Bitcoin ETFs, you'll be fondling recalling these next few months to posterity.

[obsidian]

[Mayday]

I never watch any video anyone posts.

Cliffs?

[obsidian]

I never watch any video anyone posts.

Cliffs?

His videos are pretty good. I usually put them on 1.5x-2x speed on my coffee runs. He highlighted two interesting tweets regarding ETH and BTC:

Eric Wall | BIP-420😺

@ercwl
can’t believe bitcoin will have to compete on technical merit rather than regulatory privlege now

so sad. terrible

Chris Burniske

@cburniske
$ETH is 1/3 the network value of $BTC, with < 1/10th the daily issuance, and these approvals are coming as a market surprise - if flows are anything near the #Bitcoin ETFs, you'll be fondling recalling these next few months to posterity.


Here are the timestamps.

00:00 Intro - ETh ETF got approved
00:20 But the price is still down
00:35 BTC weekly chart - BTC down a bit
00:54 Reminder - This is quite common. Similar to BTC ETF
01:17 50 percent pump likely for ETH in a few weeks
01:41 ETH weekly chart - Still at 3600
02:18 Whole situation has changed - BTC is a political issue now
02:37 Senator Warren's anti crypto army vs Donald Trump pro crypto army
03:13 Bob Loukas - Market has yet to price in radical shift in sentiment
04:12 Welcome to the chat - Proof of Goose in the chat
04:31 Reminiscing about how we started this channel
05:25 Shout out to ByBit
05:47 Summary of the drama - Bullish. SEC tapping out
06:12 Gensler Warren meme - You blew it!
06:40 SEC is very quiet - No chatty Gary
07:19 C'mon do something meme
08:03 What is going to happen to ETH - world has mispriced ETH a lot
08:38 ETH is the reserve asset for online economy - native asset of DeFi
09:16 Chris Burniske - ETH compared to BTC
09:59 Saylor has been wrong about ETH - video
11:10 Maxis blinded by their hatred for ETH and Vitalik
11:38 In each good lie there is always a grain of truth
12:14 BTC maxis should think about the levelled playing field - Many are in disbelief
12:56 Next ETF will be SOL - This cycle or not?
13:14 SOL ETF might happen because of smooth approval of ETH ETF
14:01 Reasons why SOL ETF might be harder though
14:31 EllioTrades - politicians bending the knee to crypto
15:10 Coming months be all in crypto
15:38 This is the last big fat bull run - regulatory approval and institutions are here
16:17 Next bull run will be more like tech stock market
17:23 Coming months will be key - Till WEN do we call ourselves early?
18:22 Only 5 percent of population has crypto - We will still grow
19:17 Don't look at the number of users but how bullish everyone else is
20:49 Other fights to win - What is a DEX. SEC attacking UniSwap
21:26 LPs are securities, UI is a broker
22:48 We will win in a few more years - No support for SEC anymore then
23:37 Are bankers even anti-crypto anymore?
24:17 Axelar - Very nice discount. Rollkit integration for easy cross chain liquidity
25:35 COTI - privacy tech platform
26:18 You cannot ban a privacy tech that is being used by normal users, like VPN
28:01 An idea about how to add privacy to the base layer
29:15 Analog - 120M incentivized testnet, Layer-0 protocol
30:38 New Youtube UI is whack - Where is the view count?
32:50 Q and A
33:32 Shout out to ByBit
33:54 Q1: Buy SOL or projects linked to SOL?
34:29 Q2: James video on Blackrock manipulation?
35:05 Q3: Will SOL get the next ETF or LINK?
38:01 Q4: DOT a security or not?
38:17 Q5: BRC-20 dead, Runes is superior?
39:11 Outro

[obsidian]

https://www.financemagnates.com/cryptocurrency/hong-kong-eyes-ether-etf-staking-to-outpace-us/

Hong Kong Eyes Ether ETF Staking to Outpace US

Hong Kong is considering allowing staking for exchange-traded funds (ETFs) investing directly in ether. The Securities and Futures Commission (SFC) of Hong Kong is engaging the city’s cryptocurrency ETF issuers about providing staking services through licensed platforms, The Business Times reported.

Passive Crypto Income

This potential regulatory change could open a new source of passive income for investors, positioning Hong Kong ahead of the US, where such offering is restricted. Staking offers investors a way to earn passive income by locking tokens on the Ethereum network to help validate transactions, currently yielding about 4% annually in additional coins.

If the SFC approves the staking yields, it could significantly enhance the attractiveness of Hong Kong’s spot-crypto ETFs, which have experienced moderate demand since their launch in April. This move could give Hong Kong a competitive edge over the US, which recently approved spot ether ETFs applications by Nasdaq, Cboe, and NYSE.

[obsidian]

More positive developments during the past few days:

Binance obtains FIU approval for India return
https://cointelegraph.com/news/binance-gets-fiu-approval-india-return

Bitcoin and Ethereum ETPs debut on London Stock Exchange after FCA nod
https://cointelegraph.com/news/bitcoin-ethereum-etps-lse-fca-approval

US House approves FIT21 crypto bill with bipartisan support
https://cointelegraph.com/news/fit21-crypto-bill-house-vote-bipartisan

The FIT21 proposes a 5-point test vs the Howey test where any crypto asset is judged a commodity if it is decentralized enough. This is a significant development.

If FIT21 eventually becomes law, a digital asset would be classified as a commodity and regulated by Commodity Futures Trading Commission (CFTC) if its underlying blockchain is “functional and decentralized.” In order to achieve that designation, however, FIT21 puts forth several definitions, procedures, and thresholds.

[obsidian]

Interesting analysis in the video below. The guy reasons there was a BTC accumulation phase a few months before the BTC Spot ETF approvals because confidence was high that it would be approved. The BTC price went up around 86% during that accumulation phase.

Ethereum has a different trajectory. Confidence was high it would not be approved, and this pre-ETF accumulation did not occur. So now the ETF issuers will start accumulating ETH without the price getting out of control. It's plausible that the ETH price will steadily grind up to $4.5K - $5K before the ETFs are on the market.

[Mayday]

Interesting analysis in the video below. The guy reasons there was a BTC accumulation phase a few months before the BTC Spot ETF approvals because confidence was high that it would be approved. The BTC price went up around 86% during that accumulation phase.

Ethereum has a different trajectory. Confidence was high it would not be approved, and this pre-ETF accumulation did not occur. So now the ETF issuers will start accumulating ETH without the price getting out of control. It's plausible that the ETH price will steadily grind up to $4.5K - $5K before the ETFs are on the market.

Accumulation was at 15.5k-25k where the ETF frontrun happened as the assumption was it’d come during this cycle. The later buying is people thinking they were early, They were not and will get round tripped.

Everyone is bearish on ETH ETF. If we got the uplift to 3.8k for ‘free’ off the back of BTC, it’s crazy bullish! This could be a massive FOMO due to so many sidelined people rushing in late.

[Amerian Muscle]

Cant wait for btc to go above 85k so I can breakeven on my gold self rekage

[obsidian]

https://cointelegraph.com/news/ether-etf-launch-june-possible-blackrock-amended-s-1

Ethereum ETF June launch ‘legit possibility’ as BlackRock files S-1

BlackRock updated its Form S-1 for its spot Ether ETF, which analysts say is a “good sign” that issuers and the SEC are working on ETF launches.

[obsidian]

Accumulation was at 15.5k-25k where the ETF frontrun happened as the assumption was it’d come during this cycle. The later buying is people thinking they were early, They were not and will get round tripped.

Everyone is bearish on ETH ETF. If we got the uplift to 3.8k for ‘free’ off the back of BTC, it’s crazy bullish! This could be a massive FOMO due to so many sidelined people rushing in late.

They were early if they bought below $45k. The price is more than $20k higher right now. I would say the BTC ETF accumulation was really between $25k and $45k in January 2024.

The $15k buyers at the end of 2022 were just the ones betting it had bottomed out after Bitcoin broke down from November 2021 - November  2022.

[obsidian]

https://www.theblock.co/post/297885/biden-vetoes-bill-overturning-sab-121-says-standard-necessary-for-crypto-innovation

Biden vetoes bill overturning SAB 121, says standard 'necessary' for crypto innovation

U.S. President Joe Biden vetoed a bill to overturn a controversial Securities and Exchange Commission bulletin, SAB 121, establishing accounting standards for firms that custody crypto.

“Appropriate guardrails that protect consumers and investors are necessary to harness the potential benefits and opportunities of crypto-asset innovation,” the president said in a letter to the U.S. House.

The bulletin has drawn controversy over the past year over concerns in the crypto industry that it could prevent banks from safeguarding digital assets.

[Skeletor]

https://www.theblock.co/post/297885/biden-vetoes-bill-overturning-sab-121-says-standard-necessary-for-crypto-innovation

Biden vetoes bill overturning SAB 121, says standard 'necessary' for crypto innovation

U.S. President Joe Biden vetoed a bill to overturn a controversial Securities and Exchange Commission bulletin, SAB 121, establishing accounting standards for firms that custody crypto.

“Appropriate guardrails that protect consumers and investors are necessary to harness the potential benefits and opportunities of crypto-asset innovation,” the president said in a letter to the U.S. House.

The bulletin has drawn controversy over the past year over concerns in the crypto industry that it could prevent banks from safeguarding digital assets.

I am sure Biden understood exactly what he his handlers signed.

[obsidian]

I am sure Biden understood exactly what he his handlers signed.

The Biden regime was pro-crypto until the guilty Trump verdict came out. They may know that the election is already in the bag for them. Expect them to do a 180-degree and come down on crypto again in full force soon. These people are the scum of the earth and can't be trusted. They'll fuck over their own citizens and climax while they are doing it.

[Skeletor]

The Biden regime was pro-crypto until the guilty Trump verdict came out. They may know that the election is already in the bag for them. Expect them to do a 180-degree and come down on crypto again in full force soon. These people are the scum of the earth and can't be trusted. They'll fuck over their own citizens and climax while they are doing it.

They appointed Gensler at the SEC so I doubt it.

[obsidian]

They appointed Gensler at the SEC so I doubt it.

They were pro-crypto for a week or two when Trump came out as a defender of crypto. That's what I meant. Yes, they were never pro-crypto. At the last minute they changed to prevent Trump from capturing any crypto voters. That was Plan B. Plan A was to find Trump guilty as charged. Now that Plan A panned out for them, they don't have to pursue Plan B (Pro-Crypto to Capture Voters).