🌊 Wave Wisdom - November 22nd, 2023

DATA
Key Prices

BTC $36,481 (-1.90% 24h)

ETH $2,017 (0.61% 24h)

SPY $453.1842 (-0.22% 24h)

DATA
Market Overview

Total Market Cap $1.39T (-1.59%)

Total Volume $72.51B (36.01%)

BTC Dominance 51.43% (-0.17%)

ETH Dominance 17.49% (0.38%)

DATA
Chain TVL

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Protocol/Chain Fees (24h)

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CEX Inflows & Volume

In order by assets

NEWS
At a Glance

Well, well, well, looks like our boy Changpeng Zhao from Binance is throwing in the towel and pleading guilty, what a wild ride it’s been - source

Binance slapped with three charges, one for running an unlicensed money transfer operation, another for conspiracy, and the last one for breaking the International Emergency Economic Powers Act, according to RTRS - source

Guess who's the new big shot at Binance, none other than Richard Teng, that's who - source

CZ coughed up a cool $175m for his bond - source

NEWS
Talk of the Town

Let's break down today's newsletters, shall we?

Linn's Ledger is preaching the gospel of self-reflection in trading. Keep a journal, they say, to avoid being a stubborn ass and to actually learn from your trades. It's not just about conviction; it's about being smart and adaptable.

The Daily Degen is all over the map, from Cakepie's CAKE RUSH to the latest DeFi shenanigans. They're talking about the $4B shakedown of Binance by the US, and Tether freezing a chunk of change linked to crime. They've got their eyes on new projects like BetBIG_gg and OMTrade_crypto, and they're keeping tabs on the SEC going after Kraken's parents for playing fast and loose with registration rules.

The Decentralised newsletter is unpacking the YFI token's nosedive, which wasn't a rug pull but a crafty attack on dYdX. They're also buzzing about Solana's DEX volume spike.

Revelo Intel is deep-diving into Timeless Finance, where yield tokens don't expire, and Bunni, a Uniswap v3 liquidity engine. They're also dishing on Binance's possible $4B DOJ settlement and the new president-elect of Argentina, Javier Milei.

So, if you want the full scoop, check out the sources: Linn's Ledger, The Daily Degen, The Decentralised, and Revelo Intel.

SENTIMENT
Trader Thoughts

We bring you the best thoughts from top traders and assign a score to their bullishness. 1 being max bearish and 100 being max bullish.

Bullishness Score: 85 (73.5% 24h Δ)

Let's dive into the ct traders' market outlook over the past 24h.

@HoneybadgerC showed bullish sentiment with an aggressive stance on Bittrex indicating market strength, while highlighting the importance of data aggregation platforms for traders.

ETH's movement caught the eye of @HoneybadgerC as well, linking it to FOMO buying due to the Blast update, and humorously declared being long on Ethereum despite past pains.

@0xG00gly revisited past analysis about fines and SEC actions, showing resilience in the face of regulatory actions.

The sarcastic tone of @deltaxbt over Doom and Gloom predictions implies bullishness, speculating a likely upward breakout from Bitcoin's present patterns.

In a string of aggressive bullish sentiments, @deltaxbt goes on to criticize the government handling of crypto, anticipates a possible new Bitcoin ATH despite high rates, and calls for a stronger Coinbase amidst a sarcastically envisaged tyrannical scenario.

They also acknowledged the strength shown by the market in the face of Binance's regulatory news and pointed to the current market's H4 trend as bearish, but with multiple retest attempts, while sarcastically thanking for overnight market dumps.

In terms of market direction, @Trader_XO hinted at bullishness in Bitcoin despite recent price drops and looked at structural indications that could lead to a push towards $40K.

@SalsaTekila ignored the noise, focusing on buying dips with a 'blood is for buying' attitude, signifying a bullish outlook, while throwing in a humorous note on concurrent viewer charts being akin to a shitcoin.

@CWinelord shares a bearish action, adding to Matic shorts, which suggests a divergent view from the generally bullish tone observed.

Overall, the ct traders demonstrate an aggressive bullish approach to market movements, with resilient sentiment in the face of negative news and regulatory pressures, while a few maintain a cautious or contrarian bearish stance.

SENTIMENT
Gem Hunter Thoughts

We bring you the best thoughts from top gem hunters and assign a score to their bullishness. 1 being max bearish and 100 being max bullish.

Bullishness Score: 75 (15.4% 24h Δ)

Let's dive into what the gem hunters on ct are eyeing over the past 24h.

@crypto_popseye threw some shade at naysayers with a victorious call on $OLAS, underscoring its resilience against critics and hinting at its AI utility. The hype around $OLAS grows as its performance has seemingly shafted the doubters.

While venture funds get a cold shoulder, @CryptoDet_ alludes to liquid funds probably killing it this bull session, hinting at shifting investment strategies toward liquid assets.

The attention pivots as @SwarmMarkets points out $SMT's strong chart and teases upcoming developments, garnering interest due to its minimal retracement and higher moves.

Various picks get thrown into the mix by an anonymous advisor recommending a diverse spread to an IRL friend with tokens like $TAO, $INJ, $KAS, $ZEPH, $RUNE, $KUJI, $RNDR. These are marked as top buys, with a boastful plan to revisit this diverse endorsement in a year or two, anticipating significant gains.

@CryptoYusaku spots $EPIK showing remarkable strength, giving it a nod amidst the chaotic altcoin sea.

Major props are given to $RVST with a fresh whitepaper drop indicating significant new partnerships, hyped by @____ProfessorX, painting a rosy institutional adoption picture.

@Rancune_eth seems to scoff at ponzi-like desperation, seeing the brighter side of catching the next wave if you miss one.

$BULL gets a spotlight by @ericzoo for its role in a gaming ecosystem, suggesting a bullish outlook due to the token backing an array of games.

A wild claim is made by @Govanisher about $ZEPH potentially reaching $XMR's all-time high market cap due to its hashrate flip, casting a speculative light on its mining attractiveness on @akashnet_.

The narrative of on-chain trading is getting warmed up according to @xing, looking ready to dominate the alt scene.

$GDAG is on the radar, mentioned by @AngerTrading and @defipeasant, as its mining operation's earnings and potential for growth come under the spotlight.

The gem hunters' sentiments range from subtly bullish to outright brazen confidence, teasing the ct crowd with diverse insights and the occasional snarky remark on unfolding trends and tokens.

Mentioned Coins

Disclaimer: This process is automated, so the links may be different than the coin actually mentioned.

Autonolas ($OLAS) | Artificial Intelligence (AI)

Smart Marketing ($SMT) | Ethereum Ecosystem

Bittensor ($TAO) | Artificial Intelligence (AI)

Injective ($INJ) | Binance Launchpad

Kaspa ($KAS) | Layer 1 (L1)

Zephyr Protocol ($ZEPH) |

THORChain ($RUNE) | Bridge Governance Tokens

Kujira ($KUJI) | Kujira Ecosystem

Render ($RNDR) | DePIN

Epik Prime ($EPIK) | NFT