Admiano
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Sometimes, put happiness doesn't result from the success we have in our trades. Today, many successful traders are depressed.
Consider the case of Omar. Omar was one of the few who have been very successful in crypto.
In March 2022 when Algod and GCR made their $22 million bets with with Do Kwon that LUNA price will drop, Omar opened a LUNA short on Binance.
Few months later, following LUNA crash, he became a millionaire. You might think he would be enjoying his life by now.
He actually did. He got a nice house for himself, bought everything he ever wanted. Somehow, he is depressed.
Can you imagine that?
Money isn't everything, yes. So what can help anyone avoid the same situation?
I think it's a matter of perspective, and being grateful. We need to spend more time appreciating what we have.
What do you think?
#Admiano
Consider the case of Omar. Omar was one of the few who have been very successful in crypto.
In March 2022 when Algod and GCR made their $22 million bets with with Do Kwon that LUNA price will drop, Omar opened a LUNA short on Binance.
Few months later, following LUNA crash, he became a millionaire. You might think he would be enjoying his life by now.
He actually did. He got a nice house for himself, bought everything he ever wanted. Somehow, he is depressed.
Can you imagine that?
Money isn't everything, yes. So what can help anyone avoid the same situation?
I think it's a matter of perspective, and being grateful. We need to spend more time appreciating what we have.
What do you think?
#Admiano
If BASE will ever do an #airdrop , you need to be well positioned. Follow These steps to get yourself ready, and wait.
1: Bridge to Base and collect the free NFT available. Could be a criteria
2: Trade multiple times to gain high trading volume. Since the fees are low, you can use $1,000 to get $30,000 or more volume.
3: Use multiple dApps. Now this one is a little tricky, as a malicious dApp can get your wallet compromised. You can use one of the well known ones like Sushi Swap and Bakery Swap.
4: Trade frequently. Twice or more times each week should be fine
5: Provide liquidity. You don't need to break the bank, just LP with what you can afford.
There's no guarantee of a $BASE token at this time. But there will likely be one after regulatory issues are over.
Now is the time to be positioned!
#Admiano
1: Bridge to Base and collect the free NFT available. Could be a criteria
2: Trade multiple times to gain high trading volume. Since the fees are low, you can use $1,000 to get $30,000 or more volume.
3: Use multiple dApps. Now this one is a little tricky, as a malicious dApp can get your wallet compromised. You can use one of the well known ones like Sushi Swap and Bakery Swap.
4: Trade frequently. Twice or more times each week should be fine
5: Provide liquidity. You don't need to break the bank, just LP with what you can afford.
There's no guarantee of a $BASE token at this time. But there will likely be one after regulatory issues are over.
Now is the time to be positioned!
#Admiano
In April 2021, Shaman sold his car for $5k. He put all the money in ADA, SHIB, DOT and ONE. Why did he do it? He was told BTC was going to 100k that year.
Almost a year later by February or 2022, his $5k investment is now worth $1.5k. Hoping it was the bottom, he borrowed $10k from his dad to DCA so he can reduces his losses.
This amounted to a total of $15k invested. Today, he has less than $3k of that money left.
Whay can we learn from this?
đž Never blindly follow what others say
đž Always have an exit route for every trade
đž Don't borrow money to trade, especially when you're in a huge loss
It's true that we have to take risks to make money. But there are some types of risks that we should not take on.
Shaman has not only lost most of his money, but that of his father as well. Learn from his mistakes.
#Admiano
Almost a year later by February or 2022, his $5k investment is now worth $1.5k. Hoping it was the bottom, he borrowed $10k from his dad to DCA so he can reduces his losses.
This amounted to a total of $15k invested. Today, he has less than $3k of that money left.
Whay can we learn from this?
đž Never blindly follow what others say
đž Always have an exit route for every trade
đž Don't borrow money to trade, especially when you're in a huge loss
It's true that we have to take risks to make money. But there are some types of risks that we should not take on.
Shaman has not only lost most of his money, but that of his father as well. Learn from his mistakes.
#Admiano
Argentina, Germany, France and Kenya investigating World Coin for data privacy concerns.
Kenyan authorities have reportedly raided one of World Coin's warehouse in the country, and subsequently suspending the project.
Meanwhile, the Public Information Access Agency of Argentina said it will "thoroughly analyze" the processes and practices used in relation to the collection, storage and use of personal data.
It appears World Coin did not aquire necessary permissions before collecting biometric data in these countries. If that's the case, then this reaction is nothing short of expectations.
"Cases like this show the need to strengthen the current legal framework regarding the Protection of Personal Data," the report concludes.
The price of $WLD dropped to $1.66, creating an all time low since launch.
#Admiano
Kenyan authorities have reportedly raided one of World Coin's warehouse in the country, and subsequently suspending the project.
Meanwhile, the Public Information Access Agency of Argentina said it will "thoroughly analyze" the processes and practices used in relation to the collection, storage and use of personal data.
It appears World Coin did not aquire necessary permissions before collecting biometric data in these countries. If that's the case, then this reaction is nothing short of expectations.
"Cases like this show the need to strengthen the current legal framework regarding the Protection of Personal Data," the report concludes.
The price of $WLD dropped to $1.66, creating an all time low since launch.
#Admiano
Two days ago, Sam lost around $12,000. That's all he had. Now, he's totally flat, how sad.
How did that happen, and what can we learn?
On August 1, Binance announced the launch of SEI and CYBER tokens. The SEI Community in particular has been waiting for news on the expected airdrop, and Sam was one of them.
Later that day, Sam was tagged in a post on Twitter that appeared to be from SEI official account. The tweet said to connect wallet to see how many SEI tokens one has.
He did, and saw 10,000 SEI tokens. He clicked on claim, and that was how all his $12,208.23 was gone.
What's the lesson?
đžAlways verify information before clicking
đžIf anyone tags you to an airdrop on Twitter, it's a scam
More of this will continue to happen, and even more so around August 15.
Stick to official information only.
#Admiano
How did that happen, and what can we learn?
On August 1, Binance announced the launch of SEI and CYBER tokens. The SEI Community in particular has been waiting for news on the expected airdrop, and Sam was one of them.
Later that day, Sam was tagged in a post on Twitter that appeared to be from SEI official account. The tweet said to connect wallet to see how many SEI tokens one has.
He did, and saw 10,000 SEI tokens. He clicked on claim, and that was how all his $12,208.23 was gone.
What's the lesson?
đžAlways verify information before clicking
đžIf anyone tags you to an airdrop on Twitter, it's a scam
More of this will continue to happen, and even more so around August 15.
Stick to official information only.
#Admiano
Your seed phrase is your seed phrase, and you should keep it away from any other eye.
In some cases, you can reveal it to a trusted family member. After all, in the event of a demise, someone has to claim your crypto.
What if you are living with a roommate? Does that mean you should be a little careless with your seed phrase? No! Some people may seem nice for a while, but they may have evil intentions.
Bobby bought BAYC NFT in its early days before it skyrocketed. He has a few other cryptos too. He was living with a schoolmate.
The guy copied his seed phrase from his laptop's notepad and transferred all his NFTs and crypto. Till today, he doesn't know the guy's whereabouts
Lesson: Protect your keys at all costs. If you can afford one, get a hardware wallet. If you can't, keep your seed phrase secret at all times.
#Admiano
In some cases, you can reveal it to a trusted family member. After all, in the event of a demise, someone has to claim your crypto.
What if you are living with a roommate? Does that mean you should be a little careless with your seed phrase? No! Some people may seem nice for a while, but they may have evil intentions.
Bobby bought BAYC NFT in its early days before it skyrocketed. He has a few other cryptos too. He was living with a schoolmate.
The guy copied his seed phrase from his laptop's notepad and transferred all his NFTs and crypto. Till today, he doesn't know the guy's whereabouts
Lesson: Protect your keys at all costs. If you can afford one, get a hardware wallet. If you can't, keep your seed phrase secret at all times.
#Admiano
The Hype Is Real, But It Will Get You Rekt
Ayo was one of those who found out that following the hype never ends well.
He had notifications turned on for some of the biggest influencers in the crypto space. All through the last bull run, he did quite well by just following what they said.
But reality soon set in when the bear market started. From one loss to the other, Ayo was almost rekt.
By September of 2022, he had just $300 left to his name, from a portfolio high of $4,700 in 2021.
While following what influencers said sometimes do turn out well, it doesn't always end well. It's so easy to identify a coin that will do well during a bull run. In bear markets, it's much harder.
What can you do?
Invest in yourself. Try to understand basic fundamentals of crypto and make decisions based on what you have learned
Practice risk management. No matter how confident you are in your analysis, you might be wrong. This is why using stop losses is important. And if you trade on DEXES, know when to cut a loss
Finally, know when to take profit. Profit is profit, and you don't have to wait until a specific target before realising what you see as profit.
Whatever you do, empower yourself to be the best you can be. And by the next bear market, your story will be different from that of Ayo
#Admiano
He had notifications turned on for some of the biggest influencers in the crypto space. All through the last bull run, he did quite well by just following what they said.
But reality soon set in when the bear market started. From one loss to the other, Ayo was almost rekt.
By September of 2022, he had just $300 left to his name, from a portfolio high of $4,700 in 2021.
While following what influencers said sometimes do turn out well, it doesn't always end well. It's so easy to identify a coin that will do well during a bull run. In bear markets, it's much harder.
What can you do?
Invest in yourself. Try to understand basic fundamentals of crypto and make decisions based on what you have learned
Practice risk management. No matter how confident you are in your analysis, you might be wrong. This is why using stop losses is important. And if you trade on DEXES, know when to cut a loss
Finally, know when to take profit. Profit is profit, and you don't have to wait until a specific target before realising what you see as profit.
Whatever you do, empower yourself to be the best you can be. And by the next bear market, your story will be different from that of Ayo
#Admiano
Not everyone who joined Friend Tech is actually making money. And if someone already bought your own share, you might want to consider moving on.
Someone bought the shares of Thiccy, founder of Scimitar Capital. He decided to buy it back for $45, and another one for $90.
And now the highest bidder for his share is willing to pay $0.01. All of this happened in less than 24 hours. Welcome to crypto.
In his words, "This is the crypto experience I have been searching for my entire life." That doesn't sound good, does it?
Since its launch, Shares has seen over 2,000 ETH in trading volume. During this time, the founders have made around 140 ETH. That's a cool $259,000 in the bank.
It seems the devs are making more money than users.
What do you think the future of Friends Tech will be?
#Admiano
Someone bought the shares of Thiccy, founder of Scimitar Capital. He decided to buy it back for $45, and another one for $90.
And now the highest bidder for his share is willing to pay $0.01. All of this happened in less than 24 hours. Welcome to crypto.
In his words, "This is the crypto experience I have been searching for my entire life." That doesn't sound good, does it?
Since its launch, Shares has seen over 2,000 ETH in trading volume. During this time, the founders have made around 140 ETH. That's a cool $259,000 in the bank.
It seems the devs are making more money than users.
What do you think the future of Friends Tech will be?
#Admiano
Three years ago, Aman met a girl with whom he fell in love. They soon started a relationship, but there was one problem. He is poor, and the girl came from a wealthy family.
Aman works as a copywriter at a digital marketing firm. On the side, he does some gigs on Fiverr and Upwork.
To make more money and be able to impress his potential in-laws, he started investing in crypto. He needed to play it safe, as he didn't want to blow it up. Buying BTC and ETH won't get him anywhere.
So he concluded that buying exchange tokens was a safer investment. BNB has a higher market cap, so he opted for FTT of FTX.
He would spend 60% of his salary each month to buy FTT.
FTX collapsed, and his money got stuck. The girl is married to another man now.
What can you learn from this?
Discuss.
#Admiano
Aman works as a copywriter at a digital marketing firm. On the side, he does some gigs on Fiverr and Upwork.
To make more money and be able to impress his potential in-laws, he started investing in crypto. He needed to play it safe, as he didn't want to blow it up. Buying BTC and ETH won't get him anywhere.
So he concluded that buying exchange tokens was a safer investment. BNB has a higher market cap, so he opted for FTT of FTX.
He would spend 60% of his salary each month to buy FTT.
FTX collapsed, and his money got stuck. The girl is married to another man now.
What can you learn from this?
Discuss.
#Admiano
Yet another round of Binance FUD. This time, US department of Justice officials are considering fraud charges against Binance, according to Walter Bloomberg on Twitter.
Before he made the tweet however, he tweeted that the same US officials are worried that charges against Binance Will result in a run on the exchange.
The same run they have unsuccessfully tried to ignore for months. Quite ironic, isn't it?
This reminds me of a tweet Tree Of Alpha made in April đ
Accountant update: "Why did you withdraw your funds from Binance every month from November 2022 to April 2023 only to put them back on the platform later that same month?"
Every time a Binance FUD makes people withdraw their money from the exchange, they deposit it back later. Lol.
No wonder CZ tweeted "4" earlier today.
#Admiano
Before he made the tweet however, he tweeted that the same US officials are worried that charges against Binance Will result in a run on the exchange.
The same run they have unsuccessfully tried to ignore for months. Quite ironic, isn't it?
This reminds me of a tweet Tree Of Alpha made in April đ
Accountant update: "Why did you withdraw your funds from Binance every month from November 2022 to April 2023 only to put them back on the platform later that same month?"
Every time a Binance FUD makes people withdraw their money from the exchange, they deposit it back later. Lol.
No wonder CZ tweeted "4" earlier today.
#Admiano
In 2021, I Gave You SOL, FTM, BNB, AVAX, Bla Bla Bla. Really?
How many times have you seen such posts from Twitter influencers? They start with the Ticker of tokens they apparently gave people. Then they end the post with the new coin Ticker they want you to buy.
It feels almost as if it's a copy-and-paste message from all of these people. They do it for engagement, and unfortunately, many fall for it.
One such person is Chen. Let's see his story, and then see what we can learn.
$58,000 Lost Following Bad Call
One of the influencers Chen follows on Twitter posted a long thread "to rule them all" of all the major tokens for massive gains in 2022. One of the projects the said influencer mentioned was YFI
YFI has a total supply of 36,666 and was trading around $25,000 at the time in December of 2021. The influencer claimed that YFI would get to $1 million per token before #Bitcoin. So, Chen invested all he had and bought 3 YFI
Today, Chen is down 77% from his YFI purchase. $58,000 has been lost so far from that investment. Anytime he sees tweets from that influencer, Chen feels anger towards him.
What Can We Learn?
Never buy a token just because someone with large following said to
Always #dyor and take full responsibility
Posts like these will keep popping up every now and then. It is up to you to discern who is genuine or not. And even from those who are seemingly genuine, you want to spend time doing some research before buying.
If you found this article informative, please like and share your thoughts. Also, do well to follow me #Admiano
It feels almost as if it's a copy-and-paste message from all of these people. They do it for engagement, and unfortunately, many fall for it.
One such person is Chen. Let's see his story, and then see what we can learn.
$58,000 Lost Following Bad Call
One of the influencers Chen follows on Twitter posted a long thread "to rule them all" of all the major tokens for massive gains in 2022. One of the projects the said influencer mentioned was YFI
YFI has a total supply of 36,666 and was trading around $25,000 at the time in December of 2021. The influencer claimed that YFI would get to $1 million per token before #Bitcoin. So, Chen invested all he had and bought 3 YFI
Today, Chen is down 77% from his YFI purchase. $58,000 has been lost so far from that investment. Anytime he sees tweets from that influencer, Chen feels anger towards him.
What Can We Learn?
Never buy a token just because someone with large following said to
Always #dyor and take full responsibility
Posts like these will keep popping up every now and then. It is up to you to discern who is genuine or not. And even from those who are seemingly genuine, you want to spend time doing some research before buying.
If you found this article informative, please like and share your thoughts. Also, do well to follow me #Admiano
If you scroll through your Twitter (X) feed, you'll see many comments such as "you're an OG if you survive." Or other comments like "Builders build in the bear market."The simple truth of the matter is that most of the people who write posts like those do not really believe what they are sharing.In fact, some of them do it just for the engagement, and they looking good in the eyes of others. Consider the case of DavisDavis has a main Twitter account, but he also has a number of other Twitter accounts which he uses to farm engagement. But how is he really doing?"I don't really believe any of these things I post. I am just here for the money," Davis said.Don't get me wrong, it's fine to share motivational updates. But when you read them, don't draw conclusions that the people sharing such have confidence in what they say.Whatever the case, keep improving your skills.If you find this post informative, kindly like and share. Follow me as well.
#Admiano
#Admiano
The Inspiring Story If A 25-Year-Old Nigerian Who Raised $11.6 Million
If you're struggling with whatever you are doing, and you feel like quitting, let the story of Kennedy Ekezie, a 25-year-old Nigerian, inspire you!
This is a story of seeing opportunities and seizing it with both hands. Let's dive in
Born in Imo State, Nigeria, Kennedy grew up loving the tech space. His drive pushed him to be the first Nigerian recipient of the Chinese Rhodes Scholarship. He even has a Masterâs Degree in Economics.
But things were not all rosy for him. Like most founders, he saw many ideas come to life and die off. In fact, one of his business ideas, an online store where clothes can be rented, died just 24 hours after it came to life.
Kennedy Finds A Way
With determination in his heart, he began to look for problems around him, and how he would be able to provide a solution. Eventually, he realized that there was a huge opportunity in SMEs.
According to research done by World Bank and the International Finance Corporation, less than 7% businesses in Nigeria use any form of technology.
So Kennedy thought about an idea that would help these SMEs. The name of the business was Kippa, a disruptive fintech startup on a mission to unlock socio-economic prosperity in sub-Saharan Africa by helping SMEs grow their businesses and embrace financial inclusion.
In November of 2011, he raised $3.2 million in a pre-seed round. By September 2022, he had been able to raise $8.4 million in funding.
Transactions on the platform have exceeded one hundred billion naira. Kippa serves over 500,00 Nigerians across 774 local governments. Kennedy's efforts earned him recognition by HM Queen Elizabeth II, President Obama, and many other dignitaries across the world.
Let Kennedy's Story Inspire You!
Kennedy is by o means a finished product. Considering the economic condition of Nigeria and how huge $11.6 million is, you can tell why raising such money is a very big achievement for the young man at just 25 years of age.
With determination and a great work ethic, you can achieve some of your biggest dreams! Keep pushing, and you will be just fine.
If you found this story inspiring, share it with others around you. Also, do well to follow me! #Admiano
This is a story of seeing opportunities and seizing it with both hands. Let's dive in
Born in Imo State, Nigeria, Kennedy grew up loving the tech space. His drive pushed him to be the first Nigerian recipient of the Chinese Rhodes Scholarship. He even has a Masterâs Degree in Economics.
But things were not all rosy for him. Like most founders, he saw many ideas come to life and die off. In fact, one of his business ideas, an online store where clothes can be rented, died just 24 hours after it came to life.
Kennedy Finds A Way
With determination in his heart, he began to look for problems around him, and how he would be able to provide a solution. Eventually, he realized that there was a huge opportunity in SMEs.
According to research done by World Bank and the International Finance Corporation, less than 7% businesses in Nigeria use any form of technology.
So Kennedy thought about an idea that would help these SMEs. The name of the business was Kippa, a disruptive fintech startup on a mission to unlock socio-economic prosperity in sub-Saharan Africa by helping SMEs grow their businesses and embrace financial inclusion.
In November of 2011, he raised $3.2 million in a pre-seed round. By September 2022, he had been able to raise $8.4 million in funding.
Transactions on the platform have exceeded one hundred billion naira. Kippa serves over 500,00 Nigerians across 774 local governments. Kennedy's efforts earned him recognition by HM Queen Elizabeth II, President Obama, and many other dignitaries across the world.
Let Kennedy's Story Inspire You!
Kennedy is by o means a finished product. Considering the economic condition of Nigeria and how huge $11.6 million is, you can tell why raising such money is a very big achievement for the young man at just 25 years of age.
With determination and a great work ethic, you can achieve some of your biggest dreams! Keep pushing, and you will be just fine.
If you found this story inspiring, share it with others around you. Also, do well to follow me! #Admiano
Has this ever happened to you before when you try to place an order on an exchange, but the app looks like it's freezing, and order won't go through, only to find out later that the order actually went through?
This is what happened to Labi earlier in July while trying to short XRP.
Looking at BTC chart, Labi saw that Bitcoin would drop to the lower 20k region. Rather than short BTC, he felt an XRP swing short would be more profitable.
He tried to open a 20x short, but the app was freezing. He tried to do it three times but it wasn't working. Only for hon to see minutes later that all three orders was submitted.
XRP was down 1% the next day, and he was 20% up on all orders. He didn't close the orders. Instead, he just left them open as his "big short."
The next day on the 13th, XRP price moves up almost 100%. The move was fast and wild following news that XRP was declared to not be a security. Unfortunately, Labi had no chance to close his orders.
Within minutes, his entire networth was gone, liquidated. What can we learn?
đžIf due to a glitch, an exchange app accepts more than the number of orders you want to place, close the other ones
đž Never forget risk management. No matter how good your bias mag be, that doesn't mean that it will work out as you planned
Little mistakes can get anyone liquidated. Be careful out there!
#crypto2023 #Admiano
This is what happened to Labi earlier in July while trying to short XRP.
Looking at BTC chart, Labi saw that Bitcoin would drop to the lower 20k region. Rather than short BTC, he felt an XRP swing short would be more profitable.
He tried to open a 20x short, but the app was freezing. He tried to do it three times but it wasn't working. Only for hon to see minutes later that all three orders was submitted.
XRP was down 1% the next day, and he was 20% up on all orders. He didn't close the orders. Instead, he just left them open as his "big short."
The next day on the 13th, XRP price moves up almost 100%. The move was fast and wild following news that XRP was declared to not be a security. Unfortunately, Labi had no chance to close his orders.
Within minutes, his entire networth was gone, liquidated. What can we learn?
đžIf due to a glitch, an exchange app accepts more than the number of orders you want to place, close the other ones
đž Never forget risk management. No matter how good your bias mag be, that doesn't mean that it will work out as you planned
Little mistakes can get anyone liquidated. Be careful out there!
#crypto2023 #Admiano
In 2021, Kelvin turned $77 to $21,000 in just three weeks! In fact, it was worth over $40,000 at some point before he sold.
Today, he has a house and two cars to his name. In Nigeria, that's a pretty big deal.
But things were not always good for him. Let's see his story and then what we can learn.
Before coming into crypto, Kelvin was running an importation business. Before you know it, he was in debt worth over #28 million. In dollars, that's over $30,000
When JULD launched, he bought with $77, all had. 3 weeks later, he was a naira millionaire. He then took time to master technical analysis, and he's never looked back since.
đžNo matter how bad your situation is, it can get better
đžNever give up, and keep improving your skills
đžYou may need a touch of furtune, but you must be positioned for it
#Admiano
Today, he has a house and two cars to his name. In Nigeria, that's a pretty big deal.
But things were not always good for him. Let's see his story and then what we can learn.
Before coming into crypto, Kelvin was running an importation business. Before you know it, he was in debt worth over #28 million. In dollars, that's over $30,000
When JULD launched, he bought with $77, all had. 3 weeks later, he was a naira millionaire. He then took time to master technical analysis, and he's never looked back since.
đžNo matter how bad your situation is, it can get better
đžNever give up, and keep improving your skills
đžYou may need a touch of furtune, but you must be positioned for it
#Admiano
When a coin makes an all-time high and then there's a pullback in price, when should you buy if you want to?
Consider the experience of Hamzai. Hamzai missed the ETH run to all-time high in November of 2021. ETH was above $4,800 at the time.
Many were tweeting that ETH was going to $10k, and Hamzai secretly believed this. However, he was waiting for a pullback to buy.
ETH dropped by 25% and was trading at $3,700 on February 15, 2022. He took out a loan of $20,000 and bought ETH with $10,000.
By the 25th of February, ETH had dropped another 30% to $2,600. Hamzai bought with the remaining $10,000.
He's still holding ETH today and doing three jobs to pay back the loan.
đĄUnderstanding market cycle and structure would've helped Hamzai to wait and buy lower.
Should he sell or still hold ETH?
#Admiano
Consider the experience of Hamzai. Hamzai missed the ETH run to all-time high in November of 2021. ETH was above $4,800 at the time.
Many were tweeting that ETH was going to $10k, and Hamzai secretly believed this. However, he was waiting for a pullback to buy.
ETH dropped by 25% and was trading at $3,700 on February 15, 2022. He took out a loan of $20,000 and bought ETH with $10,000.
By the 25th of February, ETH had dropped another 30% to $2,600. Hamzai bought with the remaining $10,000.
He's still holding ETH today and doing three jobs to pay back the loan.
đĄUnderstanding market cycle and structure would've helped Hamzai to wait and buy lower.
Should he sell or still hold ETH?
#Admiano
Between Friday July 28, a total of 7 futures ETH ETFs have been filled, waiting for the SEC's approval.
And guess what? According to a Publication by Block works, "the SEC has indicated its readiness to publicly consider such a product."
What can this mean for ETH price?
When BlackRock filled for spot Bitcoin ETF, BTC price moved up 20% to a local high of $32,000. Will we see similar price action when ETH futures ETFs gets approved?
It's interesting to see what will happen, as they are all expected to be approved around October 16 this year.
It's looking like ETH will outperform BTC from here. What do you think?
Here are the firms that applied for ETH futures ETF:
Volatility Shares
Bitwise
Roundhill
VanEck
Proshares x 2
Grayscale
Imagine when institutions like Microstrategy starts buying ETH. The smell!
#Admiano
And guess what? According to a Publication by Block works, "the SEC has indicated its readiness to publicly consider such a product."
What can this mean for ETH price?
When BlackRock filled for spot Bitcoin ETF, BTC price moved up 20% to a local high of $32,000. Will we see similar price action when ETH futures ETFs gets approved?
It's interesting to see what will happen, as they are all expected to be approved around October 16 this year.
It's looking like ETH will outperform BTC from here. What do you think?
Here are the firms that applied for ETH futures ETF:
Volatility Shares
Bitwise
Roundhill
VanEck
Proshares x 2
Grayscale
Imagine when institutions like Microstrategy starts buying ETH. The smell!
#Admiano
Remember that guy that made over $500,000 with $500 from $BALD? Newsflash: $BALD rugged!
And you know the worse part of it? He didn't sell any of the tokens. He literally saw his investment of $500 go up to over $800,000 and then back down to $200!
He didn't sell because he was waiting for the value of his BALD tokens to get to $1,000,000 before selling.
Ha! What do you call this? Greed? Stupidity? Ignorance? I don't have the right words for it, maybe you do.
This is a meme coin after all, and on a new chain. He's supposed to know better right?
I hope be doesn't go bald because of this. Lol.
If you want to find out what BALD is and how it rugged, read this article đ
#Admiano
And you know the worse part of it? He didn't sell any of the tokens. He literally saw his investment of $500 go up to over $800,000 and then back down to $200!
He didn't sell because he was waiting for the value of his BALD tokens to get to $1,000,000 before selling.
Ha! What do you call this? Greed? Stupidity? Ignorance? I don't have the right words for it, maybe you do.
This is a meme coin after all, and on a new chain. He's supposed to know better right?
I hope be doesn't go bald because of this. Lol.
If you want to find out what BALD is and how it rugged, read this article đ
#Admiano
LIVESeitastic
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From $83m Market Cap To $17k: The First Major Rug On Base Chain That Got Holders... $BALD
"I bought my $BALD for $5,000 two days back & now its worth $250,000. I am at a loss for words right now."
"Bought 2% under 50k mcap. This is going to be a make it play. Iâm Not touching the bags until 100M mcap."
These are just some of the comments showing the excitement of early buyers of $BALD just hours after the token launched. It was going to be the biggest token on Base Chain, and bigger than PEPE. Or was it? đ
BALD deployer pulled liquidity of over 7,000 ETH ($13m) and the token price came crashing down, dashing the hopes of many along with it
Let's see what happened and what we can learn from this.
BALD Brings Gains
BALD was launched on July 30, 2023, on the new Base Chain from Coinbase. It had only a Twitter account. No website or other social accounts. As the price of the token went up, more and more people wanted to buy it.
I actually didn't know of BALD until when I saw a tweet of a guy by the name cheatcoiner who turned $500 to over $500,000. It was actually over $800,000 at its peak. He said he wouldn't sell until BALD got to $100 million market cap, 1,000x for him.
As I was scrolling through the BALD cashtag search results on Twitter, I saw tweets of several others who claimed to have made gains with BALD. For a moment, I wondered where I was when BALD was less than $50k market cap. Lol
The Cracks On The BALD Head Or Wall?
A few threadors started making threads of how BALD is linked to the owners of Coinbase, as the BALD deployer was adding liquidity with cbETH. In truth, none of those claims were verifiable.
But the fact that the deployer should get more people worried. Rather than worry, degens saw it as a positive sign and people aped more. They never learn, do they?
Fears of a rugpul started creeping in when some users couldn't swap on LetsSwap, the #1 Dex on Base. The LetsSwap put out a tweet to address this concern, adding that "no one is rugging" đ
Few hours later, the BALD Twitter account tweeted "steady lads." Sounds familiar? đ
The Collapse... The Head Goes BALD!
News broke out that the BALD deployer added more liquidity shortly after the "steady lads" tweet. This made some degens to impulsively buy more BALD.
Then what was expected happened. BALD deployer pulled 7,000 ETH liquidity, causing the price of BALDt o fall by more than 90%.
While many were wondering what had just happened, the BALD Twitter account tweetd "still here đ". Whoever was behind the account tried to justify his actions by making the tweet in the screenshot below.
Was his action justifiable? Was he actually innocent, as he tried to claim? While he didn't sell any tokens. In truth, what he did was no different. Pulling liquidity effectively meant telling the contract to sell BALD tokens for ETH.
So, he actually got way more ETH than he added as liquidity. If that is not a rugpull, what is it?
The Lessons
Unfortunately, this won't be the last token to rug on Base Chain or even any other chain. What happened to BALD is beautifully summarized in a tweet by CoinMamba.
Let's see the lessons that we can learn:
Don't buy because others are buying. DYOR and be sure of what you are doing
Do not be hasty to buy shiny new tokens, you can get rekt
If you make huge profits, secure them. The market is not owned by you!
As for the cheatcoiner guy, I hope he's okay. He didn't sell any of the tokens. I wonder how he must be feeling to see over $800k in his account, and then back to zero.
The guy is adamant, though, and believes this isn't the end for BALD. Sighs
If you enjoyed this report, do give it a like and share it with others around you. Here at #Admiano I share crypto lessons in the form of stories, along with other analysis and market insights. You would do well to check them out.
And while you're there, do well to follow me. Catch you later!
"Bought 2% under 50k mcap. This is going to be a make it play. Iâm Not touching the bags until 100M mcap."
These are just some of the comments showing the excitement of early buyers of $BALD just hours after the token launched. It was going to be the biggest token on Base Chain, and bigger than PEPE. Or was it? đ
BALD deployer pulled liquidity of over 7,000 ETH ($13m) and the token price came crashing down, dashing the hopes of many along with it
Let's see what happened and what we can learn from this.
BALD Brings Gains
BALD was launched on July 30, 2023, on the new Base Chain from Coinbase. It had only a Twitter account. No website or other social accounts. As the price of the token went up, more and more people wanted to buy it.
I actually didn't know of BALD until when I saw a tweet of a guy by the name cheatcoiner who turned $500 to over $500,000. It was actually over $800,000 at its peak. He said he wouldn't sell until BALD got to $100 million market cap, 1,000x for him.
As I was scrolling through the BALD cashtag search results on Twitter, I saw tweets of several others who claimed to have made gains with BALD. For a moment, I wondered where I was when BALD was less than $50k market cap. Lol
The Cracks On The BALD Head Or Wall?
A few threadors started making threads of how BALD is linked to the owners of Coinbase, as the BALD deployer was adding liquidity with cbETH. In truth, none of those claims were verifiable.
But the fact that the deployer should get more people worried. Rather than worry, degens saw it as a positive sign and people aped more. They never learn, do they?
Fears of a rugpul started creeping in when some users couldn't swap on LetsSwap, the #1 Dex on Base. The LetsSwap put out a tweet to address this concern, adding that "no one is rugging" đ
Few hours later, the BALD Twitter account tweeted "steady lads." Sounds familiar? đ
The Collapse... The Head Goes BALD!
News broke out that the BALD deployer added more liquidity shortly after the "steady lads" tweet. This made some degens to impulsively buy more BALD.
Then what was expected happened. BALD deployer pulled 7,000 ETH liquidity, causing the price of BALDt o fall by more than 90%.
While many were wondering what had just happened, the BALD Twitter account tweetd "still here đ". Whoever was behind the account tried to justify his actions by making the tweet in the screenshot below.
Was his action justifiable? Was he actually innocent, as he tried to claim? While he didn't sell any tokens. In truth, what he did was no different. Pulling liquidity effectively meant telling the contract to sell BALD tokens for ETH.
So, he actually got way more ETH than he added as liquidity. If that is not a rugpull, what is it?
The Lessons
Unfortunately, this won't be the last token to rug on Base Chain or even any other chain. What happened to BALD is beautifully summarized in a tweet by CoinMamba.
Let's see the lessons that we can learn:
Don't buy because others are buying. DYOR and be sure of what you are doing
Do not be hasty to buy shiny new tokens, you can get rekt
If you make huge profits, secure them. The market is not owned by you!
As for the cheatcoiner guy, I hope he's okay. He didn't sell any of the tokens. I wonder how he must be feeling to see over $800k in his account, and then back to zero.
The guy is adamant, though, and believes this isn't the end for BALD. Sighs
If you enjoyed this report, do give it a like and share it with others around you. Here at #Admiano I share crypto lessons in the form of stories, along with other analysis and market insights. You would do well to check them out.
And while you're there, do well to follow me. Catch you later!