This week all eyes have been glued to the green BTC candles as one project announces a massive purchase.
There’s one crypto that beats inflation I must highlight to you & a huge hack occurred that is free advertising for an up-and-coming catalyst for a favorite project of mine.
Let’s dive right into it.
😲 Terra Luna Announces a 10 Billion Dollar BTC Purchase
That’s right: a 10 Billion dollar BTC purchase to back their Stable Coin UST.
This huge news has sent Terra Luna to new all-time highs just yesterday, and rightfully so. A completely on-chain verifiable treasury is exactly what the crypto community needs to eliminate trust-based models and amplify truth-based technology, AKA blockchain.
No Terra Luna didn’t just market buy 10 Billion on Coinbase. These purchases will be done slowly over time through over-the-counter (OTC) deals with Binance, the world’s largest exchange.
So this isn’t necessarily the main cause for all the upward movement we’ve seen take place this week. However, it does put tremendous amounts of buying pressure on BTC and the rest of the crypto market.
So yes, the bottom is in.
⚓️ANKR is Only 8 Pennies, Not For Long
This is easily one of my favorite projects to beat inflation rates on your crypto holdings.
ANKR’s stacking platform allows people to earn anywhere between 5-9% APY on cryptos they choose to deposit. There are many different applications ANKR brings to the table, but the staking and forgetting feature is by far my favorite.
Assets people can stake include Polygon, BNB, Fantom, Avalanche, Ethereum, Polkadot, and Kusama. At a handful of pennies, in my opinion, this is worth taking a look at.
🔗A 625m Dollar Hack on Axie Infinity🔗
A 625 million dollar hack occurred revolving around Axie Infinity, a very popular NFT based Pokémon like fighting game. This hacker was simply too smart for his own good, and tried to sell the fund on FTX, a major crypto exchange… Yes really.
This hack occurred on what’s called a “bridging” feature. It seems like most crypto exploits occur on bridging features, which brings me back to one of my top 3 favorite projects. Chainlink.
Chainlink is set up to solve these bridging exploits and provide true interoperability through an update expected in 2022 with a feature called CCIP.
The malleability of Chainlinks utility cannot go unnoticed for much longer.
🔥Cryptos To Watch Out For 🚀
It seemed quiet for days, then bam out of nowhere we’ve got our moon boots on. It’s important to stay on top of the crypto market, it can move as fast as lighting and I don’t want you to miss a thing! So if you’re looking to uncover a few hidden gems, or make a few trades check out these articles below.
- There’s one crypto that reminds me of when I called out Solana at $23
- Airdrops, airdrops, airdrops, you don’t want to miss out on these, find out which airdrops I think can come soon
- The SEC is getting nowhere in the Ripple case, they didn’t have one to begin with
Be on the lookout for my next update. See you on the blockchain.