Hey there, new subscribers!
Welcome to the coolest community in the world of AI, Crypto, Data and more - Team Inspired Analyst!
We're thrilled to have you join us as we dive into the latest developments.
Are you ready for some exciting news?
So Lets get started!
Cathie Wood Shows Confidence in Coinbase Despite SEC Lawsuit
ARK funds, led by Cathie Wood, recently bought over 157K shares of Coinbase ($COIN) valued at over $8.6M - the same day Coinbase sued the SEC.
And this isn't the first time they've invested in Coinbase.
ARK funds hold a combined 10.65M shares worth ~$596M. They bought 147,250 shares earlier this month and even purchased some in March after the SEC slapped Coinbase with a Wells Notice.
Looks like Cathie's got her eyes on the prize! So, what does this mean for Coinbase and the SEC lawsuit?
Well, for one, Cathie could be bullish on a Coinbase win against the SEC.
And even without the lawsuit, $COIN has recovered big-time this year. It rose from ~$33 in January to ~$55, indicating that Coinbase could be on the up and up.
So, keep your eyes peeled, folks! Cathie's move could be an indication of good things to come for Coinbase.
MEME Coin Goes Up 21,000%
Hold on to your hats, folks, because we’ve got a new meme coin in town, and it’s a frog.
Yes, you heard that right - a frog! PEPE is the latest addition to the meme coin mania, and it’s already up by a staggering 21,000% in just a few days since its launch.
We've previously seen similar crazes with Dogecoin (DOGE) and Shiba Inu (SHIB).
PEPE is named after Pepe the Frog meme, and it's trying to dethrone DOGE and SHIB by becoming the new king of meme coins.
The problem is, most meme coins are like a house of cards, and they can come tumbling down as fast as they rise.
One person bought 5.9T PEPE tokens for just $250, and now it's worth around $2 million! That's a lot of money for a little investment.
But here's the catch: they can't really sell it right now.
The token's liquidity pool is just around $3M, which isn't enough for the big holders to cash out that much cash.
If more people buy enough PEPE, then the whales can cash out, it will drag the price down and make the rest of the holders lose money.
This is a classic example of the risks of investing in meme coins. They can skyrocket in value, but they can also crash and burn just as quickly.
Bitcoin Whale Pays $5 for $10M Transfer
Have you heard about the recent $10M transfer that only cost $5? Yep, you read that right!
A Bitcoin whale made a transfer of 400 BTC in just one instant transaction and paid only $5 for it. Now that's what we call a cheap transaction fee!
This incident not only highlights the incredible efficiency of the Bitcoin network but also shows the power of decentralization and financial inclusion.
In contrast, traditional banks charge flat fees for their services, which can be as high as $30 per transfer.
Moreover, they often have daily limits and days-long wait times, making money transfers a tedious process.
Crypto transactions, on the other hand, can be lightning-fast and incredibly cheap, making them an excellent alternative for people who need to move large sums of money quickly and efficiently.
Of course, not all cryptocurrencies are perfect. Ethereum, for example, is notorious for its high gas fees.
Who else has paid like $12 to send $36 worth of ETH? Yep, we feel you.
So, let's celebrate this incredible feat of financial inclusivity and decentralization. Who knows, maybe one day we'll all be able to move our money as quickly and cheaply as this Bitcoin whale did.
Until then, we'll continue to enjoy the benefits of the crypto world!
That's it for today!
Remember it's always important to stay informed and up-to-date on the latest developments if you want to stay ahead of the curve!
So, until next time,
Zain from Team Inspired Analyst
-Signing off!
Disclaimer: This is not financial advice or recommendation for any investment. The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.