Magic Eden’s Post

One thing that makes me American is that I enjoy being on the frontier. One thing about being on the frontier is that sometimes it turns out that you have to count on yourself to fix some problem or do something. For example, I find it crazy and hiliarious that after weeks and weeks of hype and promotion over Hong Kong ETF's, that I'm the guy that has to figure out how to get crypto into and out of the ETF. I would *love* if someone put out a nice easy to use "so this is how to subscribe/redeem crypto into a HK ETF" guide and if anyone has seen such a set of instructions let me know, since that saves me a ton of time. Also my motives are not entirely public spirited. The reason that I am doing this is that if I do a lot of crypto trades and my bank sees that I am cashing out of XYZ broker, then I won't get my account killed as easily as if they see lots of weird p2p transactions from binance. Right now, I am literally spending most of my time in my flying saucer flying around in crypto space, but my landlord does not take bitcoin so I am looking for easy ways of on-ramping/off-ramping money.

Here are Top-5 news from the digital assets market. The market has stabilised and delivered mild growth following last week’s significant drop, as calm returned to the market after the shock of macro headwinds and rising geopolitical tensions. More news emerged regarding Hong Kong ETFs, Franklin Templeton improved DeFi accessibility for its tokenised funds, numerous payment processors moved forward with digital asset adoption, Korea continued its crypto momentum, and Bitcoin successfully went through halving, cutting the supply of new Bitcoin by 50% entering circulation going forwards. As always, for #deepdive refer to the comments section below. #digitalassets #evolution

Are Cryptocurrencies 🪙 Investable??? - These are questions I get the most from people about Crypto. Are Cryptocurrencies Investable??? Isn't it risky and volatile??? My personal favorite is when I'm asked to explain #bitcoin really quick. My reply usually is, how much do you know??? - If you are new to investing, all these are legitimate questions any reasonable person should ask. In fact, if you jump in and willing to risk your money without considering the risks and having a clear understanding what Crypto assets are all about, then you just Gambling. - Don't get me wrong, there is an element of speculation in every investment decision. Assumptions about the future and pricing based on the past performance. There are parts of the Bond and Stock Market I wouldn't touch with a 10 foot pole. Dangerously risky assets can be found in every asset class. - In this market cycle, Cryptocurrencies are a legitimate asset class and anybody who is denying that is just not paying attention. Institutions are rushing to get out a Bitcoin ETF and that's the first step. Ethereum will be next. Wall Street will get its cut on this with new products and services, they always do. - If you are a newbie in the asset class, stick to the Top 5 by Market Capitalization. They are less volatile than the rest of them and more liquid. The absence of liquidity in Crypto is a no no. Do your research, follow the markets and the 24 hour news cycle. The last is particularly important. Own them and don't trade them. Don't try to pick tops and bottoms, just stick to the plan. - What is exciting about Crypto in my opinion, is that we are ahead of Wall Street and Main Street on this one. The crypto market is not yet efficient and the higher volatility creates an opportunity for massive gains if its done right. #etoro #ethereum #solana #crypto #stockmarket #bondmarket #money #risks

Looks like a good time to start posting again… A lot has happened since the last time I posted. For one, Etf’s have been accepted across the board for #BlackRock and co and with all the hype already being priced in based on the rumours in the summer, the expected send off to the moon didn’t happen but we did have a huge pump to 49k. The #ETF is good news for the future, why? It means trillions of #dollars can flood into the #Crypto market through regulated hands too which means it’s going anywhere any time soon but, it does take away the one thing that Crypto is known for, which is the freedom to ‘be your own bank’ and be untraceable with your #finances. I always ask this question, there’s no way you can have a say in it but are you really in it for the tech or is your goal to make the most money possible because if it’s the latter, we’re on the right track but the former, and you’re not going to be happy. However if it makes it any better, the image below shows what the gold chart was like before the acceptance of an ETF which means there’s A LOT of movement that is to come, based on this. If money softens the blow for you then all you have to do is wait and you’ll be rewarded as long as you position yourself well. Stay tuned, as there are more posts to come around this in the very near future on #dxy, #alts, #spx, #btc.d, Gary Gensler and some analysis. #bitcoin #ethereum

Digital assets enjoyed another week of considerable growth—but this time Ether was the leader, amidst an unexpected SEC U-Turn that led to approval for spot Ether ETFs at the first time of asking. The US also witnessed significant bipartisan support for a crypto bill in the House of Representatives, appointment of a major Goldman Sachs figure to lead Grayscale, and a record share of Bitcoin trading volume. Elsewhere, Hong Kong mulled further development of its crypto ETFs and the UK approved its first ETPs. For a more detailed #deepdive into why this news matters, refer to the full weekly roundup in the comments below. #digitalassets #news

Here is the Top-5 weekly news from the digital assets space. Digital assets performed somewhat modestly compared with last week’s explosive growth, but #ether shone as investors seemingly turned their attention towards the market’s second-largest asset. The positive performance continued across ETFs, registering a record week of spot Bitcoin inflows and further interest in Ether-based products. Elsewhere, South Korea exhibited signs of increased #bitcoin trading, nine-figure investments and raises returned to the VC space, another major American firm disclosed balance sheet crypto holdings, and Japan reconfirmed its positive approach to the industry. As always, the link in the comments for a #deepdive in the industry developments. #digitalassets #evolution

If you want to get a quick overview of what´s important this week Nickel Digital Asset Management & Anatoly #readthis

#Crypto is having its own version of the doomsday today. Just hours ago, news broke that Mt. Gox has finally initiated its first repayment as part of its long-awaited rehabilitation plan. This is big news for those who've been waiting years to reclaim their lost funds. But that's not the only thing shaking crypto today. The #German government has decided this is the perfect moment to start selling off its #Bitcoin stash. These two events have spread #FUD in the market, pushing Bitcoin's price below the $55K mark. We're seeing a wave of panic selling, particularly from newer investors who joined the #crypto game following the #Bitcoin ETF approval. But let's look at the silver lining! The Mt. Gox rehabilitation plan isn't exactly straightforward. Creditors need to go through a complex process to reclaim their funds, and it's not just a matter of clicking a few buttons and typing in some information. There's a real possibility that some creditors might struggle to meet all the requirements. 🤨 This could potentially mean not all the Bitcoin expected to flood the market will actually make it there. As for the German government's sell-off, an unexpected player has entered the game. Justin Sun has announced his willingness to buy up Germany's entire Bitcoin stash. His goal? To minimize the impact on the market. It's an intriguing move that raises questions about the power of individual actors in the crypto space. Can one person's actions really stabilize a market in turmoil?