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  • Crypto Alpha - 21 September 2024

Crypto Alpha - 21 September 2024

Daily Alpha on All Things Crypto, Web3 and Blockchain

TL;DR

  • The USDC Treasury minted over 100 million USDC earlier this morning.

  • Chainlink moved more than $200 million worth of LINK to Binance in the past five hours.

  • A whale address initiated a position of 160.4 billion PEPE just three hours ago.

  • Bitwise’s Head of Strategy believes the approval of BlackRock’s Bitcoin Spot ETF options will trigger a massive surge in Bitcoin.

  • Three Arrows Capital and Alameda will need three years to fully offload their WLD shares.

  • In the last 24 hours, the network saw liquidations totaling $142 million.

  • A dormant wallet holding 165 BTC became active after being inactive for 11.4 years.

  • The U.S. SEC has given the green light for BlackRock’s Bitcoin spot ETF options trading.

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Alpha of the Day

USDC Treasury's $100 Million Mint: A Morning of Digital Printing

Imagine waking up to the sound of printers—except they’re digital, and they’re spitting out $100 million worth of USDC. That’s exactly what the USDC Treasury did this morning, creating a fresh batch of stablecoins as if it's a casual Tuesday. While we’re all waiting for payday, the USDC Treasury is out here minting millions like it’s no big deal. But in the grand crypto ecosystem, this move might stir up liquidity and give markets a little jolt—like an espresso shot, but for crypto.

In the past five hours, Chainlink moved a jaw-dropping $200 million worth of LINK to Binance. That’s not a typo—$200 million! It’s like if someone decided to transfer all their life savings to a new wallet, except it’s way bigger, and probably not anyone’s life savings (unless you’re a crypto whale). What’s happening with this mega-transfer? Maybe they’re preparing for a rainy day—or maybe they just like watching Binance servers sweat.

Whale Alert: 160.4 Billion PEPE? Not a Joke

A whale address opened a position of 160.4 billion PEPE three hours ago, and no, this isn’t a meme—it’s actually happening. While most of us are still trying to understand what exactly PEPE is, some crypto whales are making moves like it’s their job (which, to be fair, it probably is). Whether this will end in tears or a meme-fueled rocket to the moon remains to be seen, but it sure is entertaining to watch.

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Bitwise's Bitcoin Surge Forecast: ETF Edition

According to Bitwise’s Head of Strategy, the approval of BlackRock’s Bitcoin Spot ETF options is going to send Bitcoin’s price into overdrive. Picture Bitcoin on an energy drink, rocketing skyward because Wall Street bigwigs finally got the regulatory thumbs-up they’ve been waiting for. If you’ve been patiently holding onto your sats, the moment could be just around the corner—so hold on tight, it’s about to get wild.

WLD Shares? Three Years? Three Arrows and Alameda Take the Long Road

Three Arrows Capital and Alameda are in for a marathon, not a sprint, as they’ll need three full years to fully offload their WLD shares. Yep, that’s three whole years of waiting, strategizing, and probably staring at charts. While most of us can barely wait three days for anything, these firms are taking the long view, which either makes them incredibly patient or just stuck with a long-term plan they can’t wriggle out of.

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$142 Million Liquidated: Another Day in Crypto

In the last 24 hours, the crypto network saw $142 million in liquidations. That’s right, someone’s portfolio had a very bad day—several someones, actually. But in the world of crypto, that’s just another Wednesday. Whether it’s leverage gone wrong or a bad trade, liquidations are like a rite of passage in this space. Live, lose, and liquidate—then get up and do it all over again.

The Lazarus Wallet Awakens: 165 BTC Rises After 11 Years

After lying dormant for 11.4 years, a Bitcoin wallet holding 165 BTC suddenly sprang to life. That’s like discovering a forgotten treasure chest, except instead of gold doubloons, it’s a digital fortune worth millions. Who woke up this wallet after a decade-long nap? Maybe it’s a Satoshi-era hodler finally cashing in, or maybe it’s a bored billionaire rechecking their crypto piggy bank. Either way, someone’s about to make some serious moves.

BlackRock's Bitcoin ETF Gets the SEC Nod: Game On!

The U.S. SEC has officially given BlackRock’s Bitcoin spot ETF options the green light, and you can practically hear the collective cheer from institutional investors. This isn’t just any ETF approval—this is BlackRock, the financial heavyweight, entering the Bitcoin ring with the full blessing of regulators. Get ready for Bitcoin to get all dressed up and go mainstream because Wall Street is about to turn up the volume.

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