Serious crypto investors think memecoins are stupid. But smart people are making serious money from dumb memecoins. Here’s how.
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How smart people invest in dumb memecoins: 3-point plan for success
Serious crypto investors think memecoins are stupid. But smart people are making serious money from dumb memecoins. Here’s how.
How smart people invest in dumb memecoins: 3-point plan for success
Back in 1984, a U.K. television advertisement for Kit Kat chocolate bars was set in a music label’s office where a keen young band played their demo for a bored music executive. Afterward, they were served the famous chocolate bars and the manager said:
“You can’t sing, you can’t play, you look awful… you’ll go far.”
This is as close as I can get to explaining the appeal of memecoins to sensible, smart and intelligent people. But don’t be fooled: Smart people are making a lot of money out of dumb memecoins — invariably at the expense of not-so-smart people without good timing.
PEPE is making memecoins great again. (Twitter)And timing is everything in memecoins, which typically have no utility for anything except having fun and making money. So, without any fundamentals to trade on, can you still take a “smart” approach to making money by trading memecoins?
On Yavin, co-founder and head of business at Syndika, comes in with a hard “no” to that idea.
How smart people invest in dumb memecoins: 3-point plan for success
Serious crypto investors think memecoins are stupid. But smart people are making serious money from dumb memecoins. Here’s how.
How smart people invest in dumb memecoins: 3-point plan for success
Serious crypto investors think memecoins are stupid. But smart people are making serious money from dumb memecoins. Here’s how.
How smart people invest in dumb memecoins: 3-point plan for success
Back in 1984, a U.K. television advertisement for Kit Kat chocolate bars was set in a music label’s office where a keen young band played their demo for a bored music executive. Afterward, they were served the famous chocolate bars and the manager said:
“You can’t sing, you can’t play, you look awful… you’ll go far.”
This is as close as I can get to explaining the appeal of memecoins to sensible, smart and intelligent people. But don’t be fooled: Smart people are making a lot of money out of dumb memecoins — invariably at the expense of not-so-smart people without good timing.
PEPE is making memecoins great again. (Twitter)And timing is everything in memecoins, which typically have no utility for anything except having fun and making money. So, without any fundamentals to trade on, can you still take a “smart” approach to making money by trading memecoins?
On Yavin, co-founder and head of business at Syndika, comes in with a hard “no” to that idea.
How smart people invest in dumb memecoins: 3-point plan for success
Back in 1984, a U.K. television advertisement for Kit Kat chocolate bars was set in a music label’s office where a keen young band played their demo for a bored music executive. Afterward, they were served the famous chocolate bars and the manager said:
“You can’t sing, you can’t play, you look awful… you’ll go far.”
This is as close as I can get to explaining the appeal of memecoins to sensible, smart and intelligent people. But don’t be fooled: Smart people are making a lot of money out of dumb memecoins — invariably at the expense of not-so-smart people without good timing.
PEPE is making memecoins great again. (Twitter)And timing is everything in memecoins, which typically have no utility for anything except having fun and making money. So, without any fundamentals to trade on, can you still take a “smart” approach to making money by trading memecoins?
On Yavin, co-founder and head of business at Syndika, comes in with a hard “no” to that idea.
European Commission aims for universal acceptance with Digital Euro proposal
With this move, the European Commission aims to open up the payments market that has been controlled by banks, Visa and Mastercard.
Paxos and MercadoLibre partner up to bring USDP to Mexico
The move provides PAX coin access to Mexico’s 3.1 million-plus cryptocurrency users.
Tether signs MoU with Georgia to develop Bitcoin P2P infrastructure
The alliance intends to bring a change to the public administration and the business sector.
Tether signs MoU with Georgia to develop Bitcoin P2P infrastructure
The alliance intends to bring a change to the public administration and the business sector.
Bitcoin no longer crypto of choice for illicit crypto activity: TRM Labs
While fiat channels remain the dominant tool for criminal financing, Bitcoin appears to have fallen out of favor for criminals as far as cryptocurrencies go.
Voyager to pay $1.1 million in legal fees incurred in April
Certain members holding high positions within the firm bill an hourly rate exceeding $2,000 for their professional services.
EU finalizes controversial smart contract kill switch rules under Data Act
The Data Act was first proposed in early 2022 and passed by the European parliament on March 14.
EU finalizes controversial smart contract kill switch rules under Data Act
The Data Act was first proposed in early 2022 and passed by the European Parliament on March 14.
KuCoin crypto exchange to introduce mandatory KYC in July
KuCoin’s Know Your Customer checks will require new users to complete identity verification to access all services, while existing non-KYC users will not be able to deposit.
KuCoin crypto exchange to introduce mandatory KYC in July
KuCoin’s Know Your Customer checks will require new users to complete identity verification to access all services, while existing non-KYC users will not be able to deposit.
Ethereum price won’t see $2K anytime soon, market data suggests
Weak derivatives metrics, and declining TVL and DApps use, put Ethereum bears in a better position to keep ETH price below $2,000.
Ethereum price won’t see $2K anytime soon, market data suggests
The price of Ether (ETH) faced strong resistance at $1,920 after a 17.5% rally between June 15 and June 22. Several factors contributed to the limited upside, including worsening macroeconomic conditions, the regulatory cryptocurrency environment and weaker demand for decentralized applications (DApps) on the Ethereum network.
ETH price faces macroeconomic headwinds
On June 26, a federal judge denied a motion from Binance that could have stopped the United States Securities and Exchange Commission (SEC) from issuing public statements related to the case.
In addition, in its mid-year outlook, HSBC Asset Management’s report warned of an economic downturn in the U.S. in the fourth quarter, followed by a “year of contraction and a European recession in 2024”. The report also noted that “corporate defaults have started to creep up.”
Finally, International Monetary Fund chief economist Gita Gopinath told CNBC on June 27 that central bankers should “continue tightening” by keeping interest rates high for longer than expected.
Ethereum network demand, gas fees drop
Usage of DApps on the Ethereum network failed to gain momentum as gas fees dropped 60%. Notably, the seven-day average transaction cost dropped to $3.7 on June 26, down from $9 four weeks prior.
Sony Network invests in Japanese Web3 startup to spur mass adoption
The deal includes an investment of $3.5 million, a Sony executive moving to Startale Labs and collaboration on new Web3 tools for mass adoption.