i have a feeling market thinks pump is overvalued but participants are using 4b as an anchor bias, such that trading below tge feels cheap

not uncommon for projects to tge high to anchor prices

current state of trenches not really helping and it has been trading way too heavy since tge, on top of general disdain for the team after all the 'extractions'

buybacks barely help float the chart, pumps are quickly faded

i think new lows are likely, ready to be wrong (not that i have a position)

TOM LEE'S BITMINE BOUGHT $2.2B OF ETHEREUM OVER THE PAST WEEK: PRESS RELEASE

🔗 velo.xyz

Sharps Technology (Nasdaq: STSS / STSSW) completed a $400M PIPE financing to build the world’s largest Solana (SOL) treasury, with investors including ParaFi, Pantera, and Monarq. It signed an MoU with the Solana Foundation to buy $50M SOL at a 15% discount. — link

$MSTR - STRATEGY BUYS 3,081 BITCOIN AUG. 18 TO AUG. 24

STRATEGY BUYS 3,081 BITCOIN FOR AGGREGATE PURCHASE PRICE $356.9M
(@WalterBloomberg)

Kalshi To Expand Depeer Into Crypto After Hiring X Influencer John Wang As Head Of Crypto

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Crypto Fear & Greed Index: 47/100 - Neutral

civility

https://fxtwitter.com/RayDalio/status/1960005936308764752