Daily Crypto NewsEDITION #305, 14 September 2021

Who let the pump out?

Hey Moni Maker

Today, in the year 2000, Microsoft released the Windows Millennium Edition operating system. Windows! How much is associated with it! Sure, many crypto cats are now sitting on Mac and Ubuntas of all sorts, but Windows is history.

Okay, let the nostalgia go away. In large quantities, it is extremely unhealthy. Let's look forward, let's make some profits. Let's go!

Cryptocurrency fans created a stir around the Floki coin after "Father-Doge" Elon Musk shared a photo of his new Shibu-Inu puppy on Twitter.

A few hours later, cryptocurrencies with "Floki" in their name skyrocketed.

Shiba Floki (FLOKI) rose less than four hours after posting the tweet and is now up 1,009% in 24 hours, while Floki Inu (FLOKI) rose 108% in the same period, according to CoinGecko.

So what?

There are many ways to trade crypto: by chat, by the news, by TikTok and...now by Mr Musk's tweets.

We wait to see if Mr. "Fly to Mars" will record his version of the rap track "Bipolar" with Kanye West or something like that.

The relative supply held by LTH and STH tells us an interesting story about #Bitcoin:

Over 16.8% of the $BTC supply was spent in the last 5mths and returned to profit at the recent $52.8k high.

Long-term holders now own 79.5% of the $BTC supply, equivalent to Oct 2020.

This suggests that many coins changed hands during the recent consolidation in $29k to $40k range. It also indicates $BTC purchased in Q1 to Q2 2021 remain tightly held, with investors unshaken by a 50%+ drawdown. Note, some of these coins are likely held by GBTC and custodians

Coinbase announced its intention to offer, subject to market conditions and other factors, $1.5 billion aggregate principal amount of its Senior Notes due 2028 and 2031 (the “notes”) in a private offering (the “offering”). The notes will be fully and unconditionally guaranteed by Coinbase, Inc., a wholly owned subsidiary of Coinbase. The interest rate, redemption provisions, and other terms of each series of notes will be determined by negotiations between Coinbase and the initial purchasers.

This capital raise represents an opportunity to bolster our already-strong balance sheet with low-cost capital. Coinbase intends to use the net proceeds from the offering for general corporate purposes, which may include continued investments in product development, as well as potential investments in or acquisitions of other companies, products, or technologies that Coinbase may identify in the future. The closing of the offering is subject to market and other conditions.

So what?

The war with the SEC may soon go global. Shall we go to rallies for Coinbase?

As Decrypt reports, Walmart today announced a partnership with Litecoin, allowing clients to pay for goods using the cryptocurrency.

"By integrating Litecoin, we will enable shoppers to experience a very smooth checkout experience with near-instant transaction confirmation," said Walmart's CEO Doug McMillon. "Starting October 1st, all eCommerce stores will have implemented a 'Pay with Litecoin Option.'"

Litecoin is a code source fork of Bitcoin. Its founder Charlie Lee did, however, make minor adjustments to the code, optimizing Litecoin for faster transactions. It was launched in 2011.

Hmmm...waiting for Alibaba to start accepting...Bitcoin Cash? :D

UPD: No official news from Walmart yet!

UPDv2: It's a fake

Pump and Dump is a strategy to pump and dump a coin. Whales artificially inflate the value of a coin to then sell as high as possible to small traders. As a result, the value of the coin goes down, and investors lose money and become hamsters.

And more you can find in our Glossary!

And you...buy Bitcoin! (it's a good time!)