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- Curly Haired Conman Gets 25 Years
Curly Haired Conman Gets 25 Years
BTC's dominance, who's in/out the money, big NFT sales, and news in three sentences
Jonathan Morgan
March 28, 2024
OVERVIEW
Curly Haired Conman Gets 25 Years 🚔
SBF was handed 25 years today. If he had shown remorse, a hint of contrition accepted responsibility and stopped blaming others, maybe he would have gotten the 6.5 years his attorneys wanted. Still, it was much shorter than what prosecutors were pushing for. 🪖
In today’s Litepaper: heatmaps, Bitcoin’s crypto dominance chart, and some on-chain analytics over cryptos that are ‘in the money’ and some that are ‘out of the money’. Also on deck is a look at what big-value NFTs have sold over the past day and crypto news in three sentences.
Here's how the market looked at the end of the trading day:
Bitcoin (BTC) | $70,782 | 1.85% |
Ethereum (ETH) | $3,571 | 2.05% |
Total Market Cap | $2.57 Trillion | 1.74% |
Altcoin Market Cap | $1.18 Trillion | 1.67% |
STOCKTWITS CRYPTO TRENDS
Trending Tickers 📊
Here’s a collection of what crypto assets are trending on Stocktwits:
Velodrome Finance ($VELOD), Dogecoin ($DOGE), Vaiot ($VAIOT), Shiba Inu ($SHIB), Pooh ($POOH), Ethereum ($ETH), Parsiq ($PRQ), and GenomeDAO ($GENE).
Velodrome is a new AMM that’s received a lot of attention, VAIOT is an AI play developed with $IBM, and then you’ve got the crowd of memecoins, too.
TECHNICAL ANALYSIS
BTC Dominance To Spike Again? 🤔
The chart below is the weekly Bitcoin Market Cap Dominance chart. In a nutshell, it shows what percentage of the entire cryptocurrency market cap is from Bitcoin - which is currently in the 54% range.
Weekly BTC Crypto Market Dominance Chart - Click to enlarge.
Like any other candlestick chart, this chart responds to the same price action theories in technical analysis. It currently has an inverse head-and-shoulder pattern, which is considered a bullish signal.
HEATMAP
Total Crypto Market 🌡️
Memecoin Market 🤑
ON-CHAIN ANALYTICS
Who Is In Profit, Who Isn’t? 😱
Knowing who is in the money (in profit) and who is out of the money (not in profit) is important.
Why? If a large number of holders are in the red and prices continue to move down, selling pressure will likely continue.
Let’s examine some of the highest-market-cap cryptocurrencies and how their hodlers are doing at the current prices.
In/Out of the Money
They’re overwhelmingly in the money. But not every crypto looks like the image above. Check out Cardano ($ADA), Polygon ($MATIC), and Crypto-com ($CRO) below.
In/Out of the Money
Does this mean ADA, MATIC, and CRO will sell off? Not necessarily. A large percentage of the supply of all three cryptocurrencies has been held for more than a year, which means they’re diamond hands no matter what.
NFTs
Top NFT Sales 🥊
Top NFT Sales In The Last 24 Hours - Click to enlarge.
CryptoPunks have continued to dominate participation lately. In the weekend Litepaper edition, we’ll examine the NFT market's performance over the past week and thirty days.
STOCKTWITS CONTENT
New “Trends With Friends” 🍿
Stocktwits co-founder Howard Lindzon chops it up with pals JC Parets and Phil Pearlman every Thursday on "Trends With Friends."
RECAP
News In Three Sentences 📰
🏛️ Justice: Sam Bankman-Fried, the co-founder of FTX, has been sentenced to 25 years in prison following his conviction on charges of fraud, money laundering, and conspiracy. This sentencing concludes a months-long legal battle, highlighting his misuse of over $8 billion in customer funds for personal gain and investment ventures. From Decrypt.
🎥 Wait, it wasn’t a scam: In a new documentary, YouTuber Logan Paul addresses allegations that his CryptoZoo NFT project was a scam, admitting the project faced challenges but denying it was fraudulent. Despite initial excitement and investment from collectors, Paul revealed the personal toll of the project's failure, including financial losses and mental health struggles. CryptoNews has more.
💻 Another Hack: A significant security breach on the Blast blockchain-based game Munchables resulted in the theft of over $65 million in assets, attributed to a North Korean developer hired by the game's team. The developer returned the stolen funds, with Munchables regaining control over the compromised assets, ensuring user funds' safety and the continuation of planned reward distributions. From TheDailyHODL.
🔍 Deep probing: US and UK investigators are probing Garantex, a crypto exchange sanctioned by both countries, over the transfer of 20 billion USDT, possibly violating wartime sanctions amid Russia's invasion of Ukraine. The investigation doesn't imply misconduct by Tether Holdings but emphasizes the exchange's alleged connections to criminal activities and disregard for AML and CFT obligations. More from Protos.
Links That Don’t Suck 🔗
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