Also: Fake browser extensions are hunting your cryptocurrencies
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GM. Grab your napkin: The Daily Squeeze is about to spill today’s blockchain juice all over your inbox.
💰 Oklahoma and Thailand are thinking about cryptocurrency payment systems.
🍋 News: Fake OKX browser extensions are available, FTX clarifies a few things and more
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🍍 Taste of the market today
If the market were on a sitcom, it would be that character who slips on a banana peel right after saying some stupid thing, like “I got this!” 🍌 *laugh track*
A stronger US dollar, inflation concerns and fading hopes for interest rate cuts have some investors hitting the sell button.
The pressure has pushed bitcoin further than $100,000: fell below $93 thousand. This drop also manifested itself in the Fear and Greed Index, which fell slightly to 69 (although still at Greed).
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CryptoQuant’s Julio Moreno noted that BTC holders Unrealized gains have declined during this correction.. This may sound bad, but it’s actually a healthy cooldown after Bitcoin’s rally that surpassed $100,000, which could help prevent overly risky behavior (such as excessive borrowing). he too marked $88,000 as potential support level.
Meanwhile, analyst Aksel Kibar sees $73.7k as Bitcoin’s last line of defense, right around its previous all-time high.
Another curveball in history: The United States government is sitting on a pile of 69,370 BTC seized – worth approximately $6.5 billion – and have recently achieved court approval to sell it.
A sell-off of this size could shake up the market, but CryptoQuant CEO Ki Young Ju noted that Previous surges sucked up about $1 billion a day. (so this sale could happen in about a week).
And now this is the part where we stare at the camera, In Jim Halpert style, like, “What is life?” *Roll the credits and expect a plot twist in the next episode.*
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🥝 Harvest of memecoins
Memecoins that became “And if” in “holy shit” overnight earnings:
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Name |
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24H change |
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SENAI SENAI |
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AI alone ALONE |
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aip pump AIPUMBA |
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Pippin PIPPIN |
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Data as of 07:10 am EST.
Check out these memecoins and many more here.
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“Hello, can I help you?”
“Hey, yeah, I’d like this Husqvarna 970471745 Automower 415X Robotic Lawn Mower with GPS Assisted Navigation, Self-Installing Automatic Lawn Mower for Small to Medium Yards (0.4 Acres)“.
“Sure, how would you like to pay? Cash? Card?”
“Bitcoin please.” 😎
It sounds like a scene straight out of a crypto bro’s dream.
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But you know what? It is getting closer to becoming normal – We are seeing regulators and governments around the world prepare for crypto payments.
Here’s the latest:
1/Oklahoma
Republican State Senator Dusty Deevers has introduced the Bitcoin Freedom Act (SB325).
If approved, it would allow Oklahomans to receive their salaries in BTC and spend them at local vendors.
And why does that matter? Deevers broke it:
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inflation shield: When the money printer goes brrr, the value of the dollar decreases. BTC? Immune to that chill;
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Financial freedom: BTC cannot be frozen or withdrawn. Your money, your rules;
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Payments without borders: no bank? No problem. Bitcoin works anywhere;
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Economic boost: Deevers believes this could attract Bitcoin-focused companies, creating more jobs in the state;
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Education: By putting Bitcoin in the spotlight, more people could learn to use it responsibly.
Our opinion on this? Say it louder for the people in the back!
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2/ Thailand
To the east, the Thai government plans Pilot BTC payments in Phuket – one of its most popular tourist destinations – as a way to give foreign visitors more payment options.
What is the plan?
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Foreign tourists could register their BTC through a Thai exchange;
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Then, they would verify their identities and could use Bitcoin to pay for goods, services, or even property.
So, That Lawn Moving Situation Could Really Happen – and you wouldn’t even need to exchange your money for Thai baht.
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Now, you might say, “Okay, but I’m not from the US and Phuket isn’t on my travel list, so why should I care? 🙄.”
First of all, damn it, relax. ✋😳🤚 Secondly, here’s why:
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The more governments and states implement cryptographic systems, the harder it will be for skeptics to call Bitcoin “just one thing crypto bro” = legitimation;
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Once payment systems like these become popular, businesses and consumers around the world will begin to see Bitcoin as a normal and practical option = wider adoption.
TL;DR: Looks bullish.
OMG, another random idea just occurred to me: imagine getting a pizza with Bitcoin… 😀 It would be so wild, right? 😀 Oh wait.
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🍋 News drops
🗓 Avi Eisenberg, the man behind the Mango Markets exploit, postponed his sentencing until April 10. I guess you have a few more months to practice your apology speech?
🗣 FTX clarifies things: the court did not approve the sale of FTX EU or allow Backpack to pay creditors.
🇰🇪 The IMF is pressuring Kenya to establish clear crypto rules. The goal? Keep consumers safe and prevent money laundering.
🚨 Beware, all of you: fake OKX browser extensions are available in the Firefox add-on store. If it looks cloudy, it’s probably wants your crypto more than you.
💿 Martin Shkreli, also known as Pharma Bro, wants the Wu-Tang Clan itself to intervene in his legal dispute with PleasrDAO. The DAO claims it illegally withheld and threatened to leak digital copies of Once upon a time in Shaolina one-of-a-kind Wu-Tang album.
🤔 Wondering if Binance is worth it? We’ve done the research so you don’t have to – get the juicy details in our review.
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🍌 Juicy memes
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