🏓 Is DCG over?
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Your Favorite Crypto Digest From TradeCrypto.com #213
Daily statistics update:
Today's market is flat. BTC is trading at $21,243; ETH is around $1,576.
💪 Bitcoin dominance: 41.26%
📉 Total Crypto Market Cap: $992.40B
😲 Fear and greed index: 52 (Neutral)
🚀 Gainers (Top-100)
• Shiba Inu (SHIB) +15.05%
• Casper (CSRP) +14.43%
• Internet Computer (ICP) +6.69%
😭 Losers (Top-100)
• Optimism (OP) -8.50%
• Aptos (APT) -7.13%
• Decentraland (MANA) -5.39%
Is DCG over?
Even though Barry Silbert, DCG's chief executive, keeps saying that Genesis has a liquidity problem but isn't insolvent, Genesis' issues have hit DCG again 👊. This time the company is stopping regular dividend distribution "until further notice". These words feel like the actual end of dividends; that's how many times we've heard them from Genesis, Gemini, and DCG in recent months. As a reminder, all three companies are under investigation in the U.S., and two are charged with securities violations through Gemini.Earn. According to DCG's announcement, the dividend cut is due to market instability, and the company is doing this to strengthen its balance sheet and maintain its liquidity. It has already closed a division and is considering selling shares from its venture portfolio to save Genesis. How big is the hole really 🧐?
Optimism's high season
L2 Ethereum scaling solutions continue to trend. We published the data on tradecrypto.com on how two l2, Arbitrum and Optimism, outperformed Ethereum mainnet in daily transactions. Optimism surpassed itself by two times compared to its November activity and over 10 times since June last year 🍾. Do you understand what these numbers mean? It indicates that interest is only rising, and we're only adding to it. $OPT is up 86.4% in 30 days. In 24 hours, it has lost 5.5%. Obviously, an excellent time to jump on the bandwagon🚂.
EU crypto bill delayed
The thing is that this crypto bill is a 📓 thick book of 400 pages, and the vote has already been postponed several times because they can't manage to translate it into 24 languages. The EU was going to vote last year in December, but then the date was postponed to February this year for the same reason. Now the vote is set for April this year. Technically, the document has been ready for 1.5 years. When the document is voted on, bitcoin miners will have to disclose their energy usage, and each coin maker will have to show a white paper first and tell the investors it is actually a risky business 👿.
Crypto stocks surge
Stonks 📈! Despite expectations that the Federal Reserve will continue to raise interest rates, crypto stocks, ETHs, and coins are performing well. Of course, it's all relative. Coinbase, for example, is relieved because the share price of COIN is down 69%. From its all-time low. Still, there is something to celebrate. Microstrategy is up 76%, and Block is up 27%. Shares of mining companies, Bitfarms and Marathon Digital Holdings, are up 140% and 120%, respectively. That's all good, but let's remember how low almost all of the crypto stocks have fallen in the last year. They all still have a long way to go 🤓.
Conclusion: If one part of the industry is doing great and another is on the brink of disaster, the market is neutral, and so is sentiment. If you believe strongly, it's time to hold and invest. If you're afraid DCG will not make it, sinking other companies down, you're better off keeping your feet still.
As we announced earlier today, we will present you with a brand new digest next week. Don't worry. We'll be back with something spicy ❤️🔥. Until then, goodbye.
See you next week, folks! Thanks for being with us.Brought to you by Maksym, Yana, and Aleksandar :)
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What is Crypto Ping Pong digest?
TC lads here are working quite hard and from time to time we gotta chill. Recently, we got ourselves a ping pong table to complete our lazy-bag-stuffed chill zone. As you all know our main hobby is Crypto, so even while we play we don’t really shut up about it. Ever.
So memes, leaks, gossips naturally come about – we collect them and share them with you in this interstellar space on our site we like to call Crypto Ping Pong digest.