Ether supply decline: Hodler’s Digest

The Top Stories This Week

Australian fintech Finder won court battle against crypto yield product

Australian Federal Court ruled in favor Fintech company Finder.com cleared it and its yield-generating Finder Earn product in a court battle that lasted nearly three years with Australian Securities and Investments Commission. 

Justices Stewart and Cheeseman confirmed in a court ruling on Thursday that Finder Wallet & Earn complied to consumer financial laws.

The Federal Court “confirmed the initial finding that Finder Earn was not a financial product,” The blog of Finder on Thursday contained the following statement:

BitMine devours $2B of Ethereum in just 16 days as a treasury arms races.

BitMine Immersion Technologies is a Bitcoin mining firm that has recently been acquired. bought up over $2 billion The company has been able to retake the leading position among all of the newly-formed Ether treasury firms in only 16 days. 

BitMine stated in a Thursday statement that, in the 16 days prior, they had purchased over 2,03 billion dollars worth of Ether.

Tom Lee said, after the recent buyout spree by BitMine and FundStrat, that the company was in a good position. “well on our way to achieving our goal of acquiring and staking 5% of the overall ETH supply.”

BitMine’s aggressive purchasing spree indicates a growing institutional interest in Ethereum.

The XRP rate drops 19% but analysts say it’s a ‘healthy correction’

XRP price dropped 12.5% on ThursdayIt fell in line with the wider crypto market which dropped 3% within 24 hours, to $3.79 trillion. 

Analysts still call this an a “healthy pullback,” Double-digit XRP prices are still possible.

Cointelegraph Markets Pro’s and TradingView’s data shows that XRP fell as much as 19% on Thursday to a intra-day minimum of $2.95 from its multi-year high of $3.66.

As overleveraged positions were flushed out across the board, XRP dropped due to cascading liquidity and thinning liquidation.

Hulk Hogan & Ozzy Memecoins Soar As Tributes Roll In Over Icons’ Deaths

Memecoins inspired from the late wrestling legend Hulk Hogan Black Sabbath’s Ozzy Osbourne and other tributes to the popular icons who died this week skyrocketed. 

Terry Bollea – better known as his wrestler ring name Hulk Hogan – was reported dead at the hospital at age 71 on Thursday after doctors responded to a 911 call regarding a cardiac arrest.

It comes only days after Ozzy Osbourne died on Tuesday, at age 76, as the party-loving lead singer of the English rock group Black Sabbath.

Hogan, the best-known wrestler of the WWF (now WWE) in the 1980s and 1990s, had a long career in both the ring as well as on television and in film. 

Osbourne – also known as the Prince Of Darkness – is an icon in heavy metal music and regarded by many to be a legendary musician. Black Sabbath has sold an estimated 75 million albums worldwide. 

Ether will ‘knock on $4,000′ and soon outperform Bitcoin: Novogratz

Michael Novogratz is the CEO at Galaxy Digital. He says that a rapid increase in interest from institutions in Ethereum may trigger an supply shock, which could cause Ether to perform better than Bitcoin over the next six-month period.

“There’s not a lot of supply of ETH, and so I think ETH probably has a chance to outperform Bitcoin in the next three to six months,” Novogratz said to CNBC Thursday.

“If ETH takes out $4,000, it goes into price discovery,” Nansen said that he was referring to an 8.5% increase in Ether’s price, which is currently $3,618, at the time of his statement.

The Most Memorable Quotes

Robert KiyosakiThe author of Rich Dad, Poor Dad

“‘Pigs get fat…. hogs get slaughtered.’ I am buying one more [Bitcoin]…. and get fatter.”

Mena TheodorouCoinstash is co-founded by the head of marketing and product at Coinstash.

“If you’re analytical, follow the patterns, and take an emotionless approach, you’re going to do well in the crypto space.”

Michael NovogratzGalaxy Digital CEO:

“There’s not a lot of supply of ETH, and so I think ETH probably has a chance to outperform Bitcoin in the next three to six months.”

Markus Thielen10x Research CEO:

“We believe Ethereum is looking vulnerable in the near term.”

Solomon TesfayeChief Business Officer at Aptos Labs

“We’re seeing more open dialogue between policymakers and Web3 leaders that is shaping legislation and giving institutions more confidence to commit to longer digital asset roadmaps.”

Mister CryptoCrypto trader pseudonymous:

“A massive short squeeze is inevitable!”

There are winners and losers

Bitcoin is the last thing to be traded at the weekend. (BTC) Ether is valued at $117.962. (ETH) The price of $3,774 is a good deal. XRP The price is $3.20. Market capitalization totals $3.88 trillion. according CoinMarketCap.

Conflux, XRP and Litecoin are the three top altcoins of the past week. (CFX) at 72.84%, Ethena (ENA) Pudgy Penguins at 47.25 % (PENGU) 35.84%

Pump.fun is among the top 3 altcoins that have lost value this week. (PUMP) Sonic – Sonic at 41.74 % (S) At 11.04%, Aptos (APT) At 9.38%. Read on for more information about crypto-prices. Cointelegraph’s market analysis.

The Week’s Top Prediction

Eric Trump ‘agrees’ Ether should be over $8K as Global M2 money soars

Experts claim Ether is undervalued You can also find out more about the following: “should be trading above $8,000” Global liquidity (measured by the broad money supply, M2) reached a record of $95,58 trillion last Friday.

Global liquidity, also known as M2, is a measure of the global supply of liquidity, which aggregates the US dollar adjusted liquidity for major economies such as the US, eurozone and Japan. 

An increase in M2 indicates that money is moving around in the market, in accounts at banks, in savings and checking deposit, as well as in other liquid assets. This excess liquidity may increase the capital flow into more risky assets, such as crypto.

Ether seems to be on a similar trajectory in terms of M2 supply, according to the Wyckoff method. This is true, but with a considerable lag.

Top 10 FUDs of the Week

Arizona woman sent to prison for assisting North Korea coders in getting US crypto jobs

The Arizona woman sentenced was more than eight years in federal prison The North Koreans were accused of helping operatives to infiltrate US tech and cryptocurrency firms by using fraudulent documents, stolen identity and fake identities. 

Christina Marie Chapman has been convicted of money laundering, conspiracy to commit aggravated identitiy theft, and conspiracy to commit wire fraud. This was announced by the US Attorney’s Office for the District of Columbia in a statement released on Thursday. She received 102-months, which is about 8 years of prison.

The prosecution said Chapman had worked closely with DPRK operatives to secure remote IT jobs at over 300 US companies. North Koreans posed as US residents and citizens, and this scheme brought in over $17,000,000 of illicit revenue.

Bitcoin plunges to $116K, causing a bloodbath among crypto-longs

In total, more than half a million long positions were taken. liquidated across the crypto market Bitcoin fell to below $116,000 in the face of a general market crash.

According to CoinGlass data, $585.86 million in long positions were liquidated, with Bitcoin  accounting for $140.06 million of that total as it dropped 2.63% to $115,356. 

Ether came in second with $104,76 million of long-term liquidations. The price fell 1.33% over the period to $3,598.

New York suspects in the crypto-torture case each get $1M bail

Two men are accused of torturing and kidnapping an Italian man in a Manhattan A townhouse used in a crypto-extortion plan has been released on bail.

According to ABC News, New York Supreme Criminal Court judge Gregory Carro granted bail of $1 million each for John Woeltz and William Duplessie. According to reports, both men have denied charges such as kidnapping and assault.

A crypto-extortion case that happened a couple of months ago is the basis for this investigation. The 28-year-old Italian cryptocurrency trader was abducted on the morning of May 6.

Prosecutors claim that the captive was repeatedly tortured and kept hostage as his captors tried to make him reveal his Bitcoin credentials.

Top Magazine Stories This Week

Robinhood’s tokenized stocks are causing a legal storm

Legal questions arise when tokenizing stock, including jurisdiction, the protection of buyers and the boundaries. between innovation and illegality.

Hong Kong hoses down stablecoin frenzy, Pokémon on Solana: Asia Express

Solana apps bring Pokémon cards to Web3 with NFT gachas, FTX blocks Chinese creditors while they sell claims on Backpack, and more.

Bitcoin inheritances. A guide for the not yet dead and their heirs

The Bitcoiner OG has just passed away and you are entitled to a small inheritance. What do you need to know about it and how can you get it back? exchanges, ETFs or hardware wallets?