Web3🌕Monday Roundup: Michael Saylor predicts a Bitcoin surge, U.S. judge rules on Coinbase, Shiba Inu's caution, and Pepecoin's 70% weekly gain
1. Michael Saylor anticipates a decade-long Bitcoin surge fueled by AI and ETFs.
2. U.S. Judge issues default ruling against former Coinbase insider, classifying secondary market sales as securities transactions.
3. Shiba Inu raises concerns amid Bitcoin's pursuit of record highs.
4. Pepecoin emerges as the leading meme coin, recording a 70% weekly gain.
For in-depth insights, check out below!🧵
Welcome to our latest Web3 Roundup! Today, we delve into the most intriguing developments shaping the digital landscape. From Michael Saylor's Bitcoin predictions to legal verdicts on Coinbase and the volatile rise of meme coins, let's explore the dynamic world of cryptocurrencies.
1. Michael Saylor anticipates a decade-long Bitcoin surge fueled by AI and ETFs.
Institutional 'gold rush' for Bitcoin till 2034, says Michael Saylor. Autonomous AI and Bitcoin's scarcity drive demand. Spot Bitcoin ETFs fuel institutional adoption. Bitcoin's role in securing the internet highlighted. Energy-efficient Bitcoin eases environmental concerns. Nations embracing BTC create financial hubs, driving capital. Resistance to Bitcoin seen decreasing over time. AI revolution's energy demands shift focus from Bitcoin. Bitcoin adoption thrives despite initial restrictions in some countries.
Brayden Lindrea
2. U.S. Judge issues default ruling against former Coinbase insider, classifying secondary market sales as securities transactions.
Court rules secondary market trading of certain crypto assets, like Coinbase, are securities transactions. Default judgment issued against Sameer Ramani in insider trading case. Court asserts all crypto assets traded by Ramani on secondary markets were investment contracts. Ramani, accused in the case, has fled the country. The judgment holds significance in the crypto industry's debate on whether cryptocurrencies are securities. SEC Chair Gensler argues many cryptocurrencies fit the definition of securities. The ruling highlights the ongoing legal scrutiny on the classification of cryptocurrency sales as unregistered securities.
Nikhilesh De, Amitoj Singh
3. Shiba Inu raises concerns amid Bitcoin's pursuit of record highs.
Speculative froth in crypto as SHIB futures surpass $100 million. Analyst warns of market excess, signaling caution for Bitcoin bulls. Supply-demand imbalance grows to 1:10, suggesting a BTC rally to record highs. Retail activity surges, Korean volumes rise to $8 billion. Bitcoin could hit new all-time high above $69,000 with ongoing ETF inflows. Grayscale's GBTC sees significant outflows, while BlackRock's IBIT inflows temporarily slow. Overall, market conditions hint at potential volatility and corrections.
Omkar Godbole
4. Pepecoin emerges as the leading meme coin, recording a 70% weekly gain.
PEPECoin (PEPE) experiences a remarkable 40% surge in 24 hours, achieving a weekly gain of over 70% amid a broader crypto rally. The frog-themed token outperforms meme coins like SHIB, FLOKI, and DOGE, with trading volumes surpassing $800 million. PEPE's significant gain and unusually large liquidations in futures contracts, totaling over $13 million, suggest short covering, potentially exaggerating the price spike. This substantial movement indicates heightened buying interest, and negative funding rates in PEPE futures signal prevailing bearish sentiment. The broader market rally, spurred by Bitcoin's surge past $30,000, contributes to positive sentiment across various assets.
As we conclude this Web3 journey, remember to stay tuned for our next roundup, delving into the ever-evolving landscapes of cryptocurrency and decentralized technologies. Follow us on social media and subscribe to our newsletter for continued exploration of the latest trends and insights in the exciting world of Web3. Until then, happy exploring!
