Category: News

Shiba Inu team sparked waves of backlash after their odd world cup inspired poll missed the mark on community priorities.
Shib price has bounced back slightly at 0.000004272 yet several defi signals point to bigger moves ahead if burns keep climbing.

Shib Army Raises Voices 🖤

Inspired by spain winning the world cup shiba inu official x account pushed a poll asking where the meme coin holds strongest ground check the poll here. Brazil japan usa and turkey popped up often but most replies slammed the timing as totally off calling instead for real action on stalled ecosystem plans.

Holders vented hard about recent quiet months urging faster moves before traction slips further. One voice named mehmet called it outright mockery adding deep regret over jumping in while leash treat and bone all keep sliding.

“People trusted you and invested. I really regret the day I learned about shib. Leash has turned to trash. The value of treat and bone keeps dropping every day. Shame on you.” view full thread

A few even labeled the whole project a scam and dead weight 🌑.

Brighter Days For Shib Ahead? 🌙

Beyond the quiet builds holders feel extra sting from the yearly 72 percent drop yet the past week showed a 4 percent lift with fresh defi data hinting at stronger bulls returning soon 🔪. Burn rate jumped nearly 280 percent last month pulling coins from circulation though supply stays massive so bigger efforts remain key 🕸️.

Exchange reserves hit a fresh five year low per cryptoquant showing holders moving coins to self custody wallets which cuts sell pressure fast 🦇.

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Just another echo from the void by iconofsin.eth 💖

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Speculative activity across Bitcoin is stirring back to life even while spot market engagement stays fairly muted based on the latest Glassnode insights.

Shadows in Futures Stirring Up 🦇

The analytics provider noted that spot trading keeps lacking real conviction with spot volume dipping beneath the lower statistical band of 4.5 billion which points to ongoing thin liquidity and quiet investor interest. Such restrained volumes often mark consolidation phases where momentum builds slowly for any sharp move.
At the same time spot cumulative volume delta showed aggressive taker selling has softened versus the prior week though the metric stays negative the shrinking gap hints sellers are pulling back their force. The reading now sits within its expected range as traders weigh fresh directions 🌙.
While spot stays subdued derivatives metrics hint at returning speculative hunger. Futures open interest has risen to 32 billion. The steady climb shows traders are rebuilding leveraged exposure which boosts futures participation 🖤.
Long side funding payments have dropped to 1.7 million and sit near the upper statistical threshold. This indicates bullish bets remain in front yet traders pay less to hold longs so aggressive upside conviction has cooled compared with recent sessions.
Perpetual cumulative volume delta has snapped higher reversing from net selling to a positive 123.2 million. That shift reveals aggressive buyers now outweigh sellers in driving price action 🕸️.

Options Flow Turns Playful 💀

Options market activity has picked up as well with open interest climbing to 30 billion as fresh capital flows into derivatives though it lingers just under the lower statistical band of 30.3 billion. The pattern suggests traders are initiating new positions which could amplify swings around key strike levels 🌑.
The volatility spread has tightened and now rests inside its normal range meaning implied volatility matches realized moves while options players demand less extra premium for risk.
This shows up too in the options 25 delta skew which has pulled back amid lighter demand for protective puts and fading bearish hedges as overall sentiment edges toward neutral 🕷️.

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Just another echo from the void by iconofsin.eth 💖

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The NIGHT token tied to Cardano’s privacy Midnight network plunged over 43% today reaching a new low at $0.01524 🌑 Speculation swirled that the chain got hacked triggering the drop yet the Midnight Foundation revealed it stemmed from roughly 2% of supply shifting from an old Wanchain bridge contract.

Foundation Clears Hack Rumors 🕯️

On-chain researcher Paul spotted the move first noting that between 14:46 and 14:55 UTC Monday some 515 million NIGHT left the Wanchain Cardano bridge lock while Mynth XER and WMT stayed untouched https://x.com/cwpaulm/status/2079297590248579146?s=20 Around 290 million sold across DEXes crashing the price another 200 million went to a fresh wallet leaving a big overhang yet total supply never changed.

Network Stays Fully Operational 🖤

The Midnight Foundation posted soon after confirming nothing pointed to a Midnight issue only a bridge glitch https://x.com/midnightfdn/status/2079306216564539796?s=20 urging everyone to stick to official channels and dodge phishing scams A follow-up statement stressed protocol validators consensus and core systems all ran normally https://x.com/midnightfdn/status/2079370237334413522?s=20
Before the plunge NIGHT traded at $0.026 then the 290 million dump sent it to the $0.01524 ATL It recovered over 28% from that low though still down 27% on the day and 34% lower than a week ago.

Bridge Risks Draw Fresh Scrutiny 🦇

Charles Hoskinson jumped in after an alert pinged his phone prompting an informal war room https://x.com/i/broadcasts/1nGeLLaNAYoKX?s=20 He noted Midnight contracts kept running the flaw sat in one Wanchain bridge component and the space must watch AI tools hunting exploits faster Bridges remain weak links relying on outside trust but zero-knowledge options trusted execution environments and multisigs could help.

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Just another echo from the void by iconofsin.eth 💖

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Ethereum’s market dominance has climbed back above 10% on Tuesday after weeks below that level while the token outperformed every other top-10 cryptocurrency with an almost 9% gain in the last seven days 🖤.

The move has rekindled bullish sentiment around ETH even though one analyst is cautioning that no single event appears to have triggered the latest rally 🌙.

Eth Dominance Hits That Psyche Threshold Again 🕷️

Data from CoinGecko shows Ethereum’s market cap at around 233.2 billion with the total crypto market up nearly 2% and valued at just over 2.34 trillion. That put ETH’s share of the market at slightly more than 10% a figure BIT analyst Markus Thielen described as a psychologically important threshold in a July 21 update 🕸️.

Thielen also noted that when ETH dominance rose in the past it often coincided with conditions that favored bullish traders. Indeed at the time of writing ETH had gained over 4% in 24 hours but according to the analyst there was no immediate catalyst behind the rise in dominance 🦇.

Institutional Flows Tilt Hard Toward Ether Calls 🩸

Some big names in the market appear to have picked up on the changing mood with BitMEX co-founder and avid crypto trader Arthur Hayes spending over 2.5 million on 1332.5 ETH earlier today. That was his second multi-million dollar splurge on the token in a week after earlier buying 1293 others for a similar amount on June 16 🕯️.

BIT’s weekly market watch also published on July 21 argued that last week’s softer-than-expected US inflation data had reversed a rough start to the week one that had briefly pushed Bitcoin under 62000 after conflict between the US and Iran flared again. BTC closed that week above 65000 up almost 4% while ETH added over 7% in the same period ending up above 1900 and marking its second consecutive week of outperforming Bitcoin. This also lifted the ETH/BTC ratio to 0.0293 from a June low of 0.0264 🪦.

At the time of writing the world’s second-largest cryptocurrency was still trading well over the 1900 mark having gained about 8.8% in one week and more than 12% in the last 30 days 🌹.

That weekly performance was the best among the top ten digital assets by market cap with XRP and BTC following closely after jumping more than 6% in XRP’s case and about 5.7% in BTC’s case in that period. ETH’s daily trading volume also saw a huge uptick adding more than 31% to the previous day’s amount to hit 11.6 billion 🖤.

Beyond spot prices BIT’s report said perpetual funding rates have remained close to neutral despite ETH’s gains while implied volatility stayed relatively subdued.

It also noted that institutional investors appeared to favor call options with buy-call activity accounting for more than three-quarters of Ethereum block trades while retail participants largely opted for call spreads to gain upside exposure with limited cost 🌙.

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Just another echo from the void by iconofsin.eth 💖

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