Celsius $CEL is functionally insolvent on their ETH position.
Only 27% of Celsius' ETH is liquid, the rest is either stETH or staked in ETH2, so inaccessible for at least 1 year.
If withdrawals continue at the current pace of...(1/x)
50k ETH/week, Celsius will run out of liquid ETH in around 5 weeks.
It is impossible for Celsius to honor redemptions after that without realizing massive losses due to stETH's illiquidity. Eventually, they will be forced to gate all redemptions.
Not looking good.
Burning Man is apparently flooding and only allowing a certain number of people to leave per day.
First priority to those with cats and “who’s partners cheated on them with a camp mate and they are now having a real moment and would like to get out of here”.
(1/x) $IB Iron Bank's launch today allows us to run some analysis on the value of the future $veIB airdrop to $CREAM stakers. Let's take a look at the numbers.
Reminder - 40% of $IB's total supply will be airdropped to $CREAM stakers (who stake for more than 1 year by 30 Jan)
$WAVES - an actual, literal scam, running an actual, literal ponzi scheme (lambo strategy), with $600mn of bad debt.
Going to enjoy the red button on this one.
$JPEG'D, led by
@bulltrapper0
and
@Tetranode
, decided this week that the best use of their investors' capital was to buy $PEPE.
I am astounded at the sheer brilliance of this business decision. I could think of no better usage of investors' capital than buying shitcoins.
Threw on a large USDT short in case we get a liquidity crisis next week.
Downside extremely limited, it’s basically a free lottery ticket at current price. $1mn short loses $1.5k + funding if we return to peg.
my wallet tracker seeing a lot of ppl down really fucking bad on $RLB
there are no fundamentals in this sector. p/e doesn’t matter.
There is only ONE UNIVERSAL TRUTH IN CRYPTO.
——shitcoins are for SELLING——
I have been justly kicked out of another alpha tg for providing very low value for the past few months...hard to juggle tradfi job and gripto hobby...
Regardless, I have had a successful year, and my friends in the space are getting rich besides me. I find very little in life
@SplitCapital
Can you blame desperate people for trying to get their life savings back?
They will see cents on the dollar at best many years from now.
Would you cut the line to get a gas mask if there were a biological terror attack?
Do what it takes to survive. There’s no team here.
god bless $NEAR perhaps the greatest shitcoin to ever hit the market
down only, still high market cap with >2x to FDV, massive daily unlocks, great pair trade for high beta
send this VC shit to ZERO
@Crypto_Alex17
@dcfgod
Another word for “rfv raiders” is “token holders”.
They’re literally token holders, the same as any other, full stop. Just bc they want the team to drive value to the token, they are vilified - almost always by people with a financial incentive contrary to that of token holders.
Big round of applause to
@Tetranode
for the new all-time-lows on the $JPEGD / ETH ratio 🥳🎉
One of the biggest clowns in the industry, congratulations! It takes something special to stand out above the rest and scam your investors harder than anyone else.
Thread on SpartacusDAO and why I support the recent proposal for SPA to separate from the Spartacus ecosystem.
TLDR: I'm voting yes on a proposal for dev to get $4.5m runway for future Spartacus projects, while SPA holders get fair value per token (69 DAI + 6.65 ftm)
1) Did I lose money after being up pretty big by doubling down at the lows?
Yes.
2) Was I cyber bullied for being short after the aerodrome team put in the bottom with well-timed buys on their own token?
Also yes.
3) Will I publicly tweet my shorts on low liq onchain coins
Lambo strategy - a shameless ponzi that uses "proprietary algo trading" to promise 60-100% apr with "max drawdown of 10%". Not even Bernie Madoff could hit these numbers.
How much of lambo strat was used as collateral in Vires (now rugged)...it is a moral duty to short $WAVES
Rabby wallet just saved me half a mil.
I clicked on a discord link through dexscreener, led me to a discord which asked to do a collab land verification.
The collab land page looked super legit, but it asked me to sign a token approval. If Rabby didn't warn me, I would have
"the multiplayer money game of me tricking poor people into spending their last $$$'s on zero-sum shitcoins going to zero, so that I can profit, is highly entertaining"
The multiplayer money game of shitcoining is 10x more entertaining, viral, and engaging than either casino games or stock investing
Key to this is the element of lore
Take for example the Folklore of random African grandmas making fortunes off random cat shitters
I want to celebrate recent trading successes
Considering to buy a rolex....but it seems to gaudy and wasteful at $10-20k
So instead I'll buy a $30k bitcoin puppet 👍
Yes, I'm actually doing this.
The only evidence I can find suggesting that the $SAND unlock is today is from this chart on Binance. On-chain evidence, Huobi, and SAND telegram moderators all say that the unlock is every Feb./Aug., not June
Shorts likely overextended here.
Long $SAND / Short $AXS
$ICHI turned off liquidation incentives for fuse pool 126.
This means there is no longer a cap to the token price as liquidation bots will no longer purchase collateral and market dump it.
I just smashed my TV in front of 30 guests at my party because of the LayerZero airdrop. My wife just took our crying kids and said they’re all spending the week at a hotel. This $LZO airdrop has ruined my life and my party. I can’t handle this anymore. Goodbye
@layerzerointern
.
Dear
@sasha35625
what happened with the 2.6M USDN you pulled out of the wallet that is handling liquidations? Why are some funds ending up in Tornado Cash? $WAVES $USDN
The crypto industry is full of compensation schemes and outright frauds like the below.
Almost every single token I’ve ever researched is subject to insiders and team acting against the interests of token holders.
@joanarus
and
@AragonProject
team members should be ashamed.
Today, the AA unilaterally shutdown the ANT token, the gov token of Aragon, without a vote. They have given a redemption offer of ~95% of BV, keeping $11M for “obligations”, leaving holders in the cold. This cannot be tolerated 👇🧵
I have long used the marketcap of Dogecoin to visualize to friends the magnitude of the crypto bubble.
With other coins people can give hand wavy spiels about how they will change the world or have some value someday. Doge can do no such thing.
See you at zero 🤝
Seems like a lot of people on my feed expect stocks straight drown and oil to $200.
Imagine the hedge fund that was:
-late to short tech
-late to long energy
-got short after record CPI last week
Down bad. Need to respect the pump.
s/o
@Pool2Paulie
for nailing this rally
I like $boxfee purely on the numbers
raised 3,529 ETH ($5.6mn) at a price of 1 ETH: 0.1boxfee
protocol makes it such that ETH raised can be roughly considered FDV of $boxfee
at current price of 0.118 ETH / boxfee, FDV = $6.6mn
lots of upside left for an LSD coin
Token down 98% in ETH terms and constantly making new all time lows?
$60M treasury burning a hole in your pocket? Wondering how best to allocate capital and reward your long term holders?
Just buy shitcoins!
$JPEG'D, led by
@bulltrapper0
and
@Tetranode
, decided this week that the best use of their investors' capital was to buy $PEPE.
I am astounded at the sheer brilliance of this business decision. I could think of no better usage of investors' capital than buying shitcoins.
Ladies and gentlemen, I would like to take this opportunity to thank you for choosing Sisyphus airlines. We know you have a choice when it comes to travel, and we appreciate that you've chosen us for your journey. We hope you had a pleasant flight and look forward to seeing you
People keep talking about “the next bull” as if it’s a foregone conclusion that there will be another bull run.
2021 was THE bull run. Bitcoin had a $1 trillion market cap.
This “next bull run” phenomenon is the exact same as the people in r/superstonk waiting for the “MOASS”,
One must be careful not to be blinded by the permabear argument of no net new money flows into alts, lest they wish to miss the outsized returns of non-bull market rallies
The only requirement for these rallies is that demand exceeds supply for a multiweek period
July 2022 &
$RLB is going to zero, this delusional cope is hilarious
it's literally just the latest "real yield" ponzi narrative
insiders rushing to cash out hand over first
all the buybacks were from non-circulating supply
it's OVER
I really enjoyed reading this.
Money is a game and I choose to play it. I recognize the benefits having money has had on my family and in my personal relationships. It opens doors, relieves stress, and ultimately serves as the only game/objective that has held my interest over
I grew up in poverty. I’m talking mom would skip dinner because we didn’t have enough money to buy enough food to feed her, me, and my brother poor. This is why I will win.
There was an episode of UpOnly where Cobie talks about the abstract concept of money, how when you really