- Crypto Nutshell
- Posts
- 🥜 Ethereum trouble
🥜 Ethereum trouble
PLUS: Saylor Buys Again
Today’s edition is brought to you by Crypto.com
Start earning up to 5% back on all your spending! No annual fees. Sign up for the Crypto.com Visa Card today to receive your instant $25 bonus!
GM to all 53,415 of you. Crypto Nutshell #262 chillin’ out. 🧊 🥜
We’re the crypto newsletter that won't deceive you like a secret agent with a license to kill... 🕶️🔫
What we’ve cooked up for you today…
😱 Ethereum ETFs in trouble?
💰 Simply the best
🌊 Record inflows
🤑 And more…
MARKET WATCH ⚖️
Prices as at 6:40am ET
Only the top 20 coins measured by market cap feature in this section
ETHEREUM ETFs IN TROUBLE? 😱
BREAKING: Analysts lower odds of Ethereum ETF approval to 35%
Ethereum holders…
We’ve got a little bit of bad news for you this morning…
ETF analysts have significantly lowered the odds that the Ethereum ETFs are approved in May.
Previously Bloomberg analysts had the odds of approval between 60% - 70%.
Now the odds are down to 35%….
Bloomberg analyst, Eric Balchunas explains:
The reason for lowering the odds is simply due to radio silence from the SEC.
In the lead up to the Bitcoin ETF approvals, there was constant back and forth between the SEC and issuers.
This time around, there’s barely any communication.
ETF analyst James Seyffart also explained his reasoning:
But keep in mind these lowered approval odds are only for the May deadline.
In the long-term, Eric and James both still believe that we’ll eventually see an Ethereum ETF approval.
It may just take a little longer than we first thought.
The good news?
The Ethereum price didn’t react at all to the news.
Goes to show the conviction of holders. 💪
TOGETHER WITH CRYPTO.COM 💳
Stop right there.
You still don’t have a crypto card?
If you haven’t got a crypto card yet, you’re living in the past.
With a Crypto.com Visa Card you can spend your crypto anywhere you want.
The benefits are insane.
Not only is there NO monthly or annual fee, you also get up to 5% back on every transaction.
With your Crypto.com Visa Card you can:
Earn up to 5% back in CRO rewards on every transaction. 💳
Enjoy 100% cashback on Spotify, Netflix, and Amazon as a new customer. 🍿
Get complimentary access to airport lounges and elevate your travel experience. ✈️
Flaunt your style with the sleek and stylish metal card 🌟
Here’s how to get your $25 bonus and start earning up to 5% back:
Click here to Download the Crypto.com App
Sign Up: Use our referral code - Nutty - for your instant $25 bonus.
Get Your Crypto.com Visa Card: Start making transactions, earning rewards, and enjoying the perks!
Start making every transaction count - the future is here.
P.S - We heard your feedback. The crypto.com Visa card is available in the U.S, Canada, U.K, Australia and many more!
Disclaimer: Terms and conditions apply. Offer valid for new users. Crypto investments involve risks; please do your research.
SIMPLY THE BEST💰
There is no second best.
Yesterday on CNBC, Michael Saylor broke down why Bitcoin is simply the best asset and nothing else can compete.
But before we continue, they’ve done it again…
Over the weekend, MicroStrategy purchased an additional 12,000 BTC for ~$821.7 million.
This brings their total holdings to 205,000 BTC (5,000 BTC off of owning 1% of the maximum supply).
During the interview, Saylor was asked why he believes in Bitcoin.
This is what he had to say:
“Bitcoin is digital gold. It’s going to eat gold. It’s got all the great attributes of gold and none of the defects of gold. If you could teleport gold from New York to Tokyo in a few minutes, people would like it.”
Moving on to what’s next for Bitcoin, Saylor spoke on the halving:
(which is roughly 36 days away)
“The halving is going to cut the organic supply of natural sellers in half. That means there’s only ~$32 million a day of natural sellers. The price of Bitcoin is going to have to adjust up to meet that investor demand.”
Saylor also expressed that he’s never had any doubt about Bitcoin. 💪
Not even when it fell from $68,000 to $15,000.
(checkout this website to track MicroStrategy’s portfolio)
Here’s Saylor’s top three reasons for why Bitcoin is the best:
It’s Digital - It can be traded a million times faster than conventional assets through a computer
It’s Available - Conventional assets only trade 20% of the time, Bitcoin trades 168 hours a week (Saylor bought ~$800 million of Bitcoin on a weekend)
King of all commodities - there’s no issuer, company or country controlling it
Closing out the interview, Saylor had this to say:
“It’s a pretty great asset… There’s no second best asset. We’re just waiting for the rest of the world to realise how good it is”
Saylor is still buying at current prices… are you? 💪
(Let us know in today’s poll at the bottom of the newsletter 👇)
RECORD INFLOWS 🌊
Time for our weekly check in on digital asset fund flows. (globally, not just the US ETFs)
Last week was the sixth straight week of positive inflows with $2.69 billion coming in. (That’s a new record for weekly inflows by the way)
This Brings year-to-date net inflows to $10.3 billion.
The whole of 2021 only saw $10.6 billion in net inflows…
It’s only March and that record is about to be broken…
Like always, Bitcoin came out on top.
Bringing in $2.64 billion for the week. (98% of inflows)
Surprisingly, Ethereum had a poor week with $2.1 million in outflows.
Whereas Solana seems to have turned things around with $23.6 million in inflows for the week.
And as Bitcoin’s price continues to surge, some investors believe we’ll see a dip soon. Short Bitcoin experienced net inflows of $11.2 million last week.
The first row is Bitcoin
As you’d expect, the United States continues to dominate with $2.8 billion in net inflows.
Germany, Sweden and Canada all experienced outflows of $76.8m, $38.7m and $34.9m respectively.
Last week was an incredible week for digital asset funds.
But according to analysts and fund managers themselves, we haven’t even begun yet.
Just wait until the MAJOR institutions arrive. 😎
CRACKING CRYPTO 🥜
Bitcoin holders rejoice as value breaks unprecedented $71,000 milestone marking new ATH. Bitcoin's price surges past $71,000 for the first time, fueled by ETF launch and the impending halving anticipation.
VanEck slashes Bitcoin spot ETF fees to zero amid ATH inflows. VanEck currently levies a 0.20% fee on its Bitcoin Trust ETF.
Coinbase moves forward with appeal of SEC’s rulemaking petition denial. Attorneys for Coinbase filed their opening brief in their case against the SEC in the Third Circuit Court of Appeals.
WHAT WE’RE READING 📚
Want to get even smarter? Check these out.
p.s. all completely FREE
CAN YOU CRACK THIS NUT? ✍️
Select your answer below and you’ll be redirected to the results page. (answer explanation can be found after “Meme Corner”)
How much Bitcoin does Tesla currently hold? |
MEME CORNER 😂
Because what would the crypto world be without its share of memes?
Trivia Answer: C) 9,720 BTC 🥳
Every 10 minutes, miners verify one block of Bitcoin transactions. The current reward for verifying one block of bitcoin is 6.25 Bitcoin.
GET IN FRONT OF 53,000+ CRYPTO INVESTORS
Advertise with Crypto Nutshell to get your product or brand in front of the crème de la crème of crypto investors. Crypto Nutshell readers are high-income earners who are always looking for unique or interesting offers.
HOW DID WE DO? 🤷
We read every comment submitted in this poll and love to hear what you guys have to say. 😁 (bonus points for suggestions 🍪)
What did you think of today's Newsletter?Don't worry, you won't hurt our feelings... 🥲 |
NUTCASE REVIEW OF THE DAY 🔍
DISCLAIMER: The content of this newsletter is not financial advice. This newsletter is strictly educational and is not investment advice. Please be careful and do your own research.
Reply