Cryptic ball: Portugal is all the rage.
The weekend is here and yesterday's pullback has stalled, with total market cap at the same level it was 24 hours ago: $2.7 trillion. SOL hit a new all-time high shortly before the daily close, finally hitting $250, and has joined the retrace team since. Remember the Solana annual conference, Breakpoint, is happening in Lisbon next week, so you can expect that pump to continue.
Meanwhile, out of the top 10 coins, only Binance's BNB escaped the carnage, and even managed to rise nearly 10% on top of three news: 1) that it has established a $115 million fund, in partnership with French think tanks and announced at the Ministry of Finance. Called "Objective Moon", it aims to grow the local and European ecosystems, likely in exchange of some favourable regulatory terms.
2) that it has hired a former, experienced member of the US IRS Criminal Investigation unit, which helps sooth fears the massive exchange will sort out its compliance issues. Lastly, and most importantly, 3) that it has made a partnership with Portugal's best football team, FC Porto. Binance will sponsor the club's jersey and also launch the first football fan token, called PORTO, which will allow holders some voting rights, loyalty rewards, and several other benefits.
This is the second fan token launched by Binance, after Lazio's this October, but it seems only know the world is taking notice - so I'm looking forward to see what our fellow exchanges announce over the next months. As for the rest of the weekend, it's as written yesterday: we may continue to see a small pullback to liquidate leveraged longs, but this won't harm the general trend as at least bitcoin's price is no longer overheated, as Willy Woo well explains. So define your trading plan, take some profits if you want, and see you Monday!
Chart art: sats are all the rage.
Three things: real dogs are all the rage.
- Croissant strikes again with a new thread outlining NFT's use cases.
- Bloomberg strikes again and tells the story of how SHIBA is driving demand for real Shiba Inu puppies.
- Hackers are striking again, so make sure you check Vice's report of "the booming underground market for bots that steal your 2FA codes".