🧡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!

📈Crypto_Ocean

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.

📈Crypto_Ocean

📊 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

📈Crypto_Ocean

🖤 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).

📈Crypto_Ocean

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.

📈Crypto_Ocean

🔎 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

📈Crypto_Ocean

🧐 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? 🤨

📈Crypto_Ocean

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.

📈Crypto_Ocean

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

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

📈Crypto_Ocean

❗️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.

📈Crypto_Ocean

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.

📈Crypto_Ocean

❌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.

📈Crypto_Ocean

📊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.

📈Crypto_Ocean

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)

📈Crypto_Ocean

Bitcoin is circulating as slowly as it did 13 years ago.

Despite Satoshi's concept of “P2P e-money”, Bitcoin is mostly used as “digital gold” and institutions hold it without frequent transactions.

Someday its velocity will peak when BTC is widely used for payments.

What do you think bitcoin is better suited for?

🐳 - It's digital gold, certainly savings

👍- A new payment system

🔥- Will be used both as a means of saving and as a means of payment

📈Crypto_Ocean

🍏Apple is actively implementing artificial intelligence into its devices

Yesterday at the Apple conference, Apple unveiled a new artificial intelligence system, Apple Intelligence, which will be integrated into various applications.

Apple Intelligence will be able to perform various actions for the user - for example, manage notifications, automatically compose texts or summarize information in mail and other applications.

The company also announced a partnership with OpenAI to integrate ChatGPT into its apps, including Siri.

📈Crypto_Ocean

Crypto Speak: Counterparty risk

This is not a purely cryptocurrency term; however, it has a huge meaning in crypto. Let’s break it down.

“Counterparty risk” is the probability that your counterparty (a company, service, or even an individual) will be unable to fulfill its obligations.

A simple example in the blockchain world is when you store your Bitcoin on a cryptocurrency exchange. Suddenly, the exchange collapses (and it happens - let’s remember the fall of FTX in 2022, the No. 2 exchange in the world at the time), which results in you simply losing your BTC.

But if the assets of the exchange were backed, you will probably get your money back sooner or later (but it’s not guaranteed), but it’ll be a huge inconvenience.

That’s why the expression “NYKNYC” or “not your keys, not your coins,” is so popular in the crypto space; it emphasizes the importance of noncustodial storage of cryptocurrencies.

If you store your coins in noncustodial wallets, such as MetaMask or Trust Wallet, the counterparty risk disappears.

By the way, smart contract technology also solves counterparty risk, but we’ll talk more about that in an upcoming post.

📈Crypto_Ocean

​✊ Locations of the largest concentrated volumes of Bitcoin:

🟠 All exchanges - 2.3 million BTC
🟢 Miners (except Satoshi) - 706,000 BTC
🟡 Spot ETFs – 862,000 BTC
🔵 US Government - 207,000 BTC
🔴 Mt.Gox Stewards - 141,000 BTC


📈Crypto_Ocean

💡💡💡: 🇺🇸 Former President Donald Trump says "Bitcoin mining may be our last line of defense against a CBDC."

"We want all the remaining Bitcoin made in the USA!"