A crypto strategist known for making timely Bitcoin calls believes that BTC will print a new all-time high in a couple of months. Pseudonymous analyst Credible Crypto tells his 462,900 followers on the social media platform X that he thinks Bitcoin is trading in a wide range between $110,000 and $88,000. While the analyst believes that Bitcoin’s consolidation will eventually resolve to the upside, he predicts that BTC will first drop to the low $80,000 price range to shake out paper-handed traders before kicking off a parabolic surge. “On the higher time frame for BTC, it would be nice to have this multi-month consolidation complete with a clean base as pictured before the next impulse begins. Focus right now is on two ranges – one low time frame (blue) and one high time frame (black). We may or may not visit the highs of the low time frame range first (blue arrow) but ideally would love to see a deviation below the higher time frame range lows before a reversal, reclaim and impulsive move to the upside.” Source: Credible/X Looking at the trader’s chart, he seems to predict that after the correction, Bitcoin will soar to a new all-time of $126,000 by April of this year. The chart also appears to suggest that his short-term bearish outlook for Bitcoin will be invalidated if BTC convincingly takes out its resistance at $110,000. At time of writing, Bitcoin is trading for $96,616, a fractional increase on the day. Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Crypto Analyst Unveils Path Toward New Bitcoin (BTC) All-Time High by April of This Year – Here’s His Outlook appeared first on The Daily Hodl .
Shiba Inu’s whale activity has sharply declined by 79%, raising questions about the resilience and future prospects of this popular memecoin. This decline came as large transactions, particularly those exceeding
Despite the 79% drop in whale activity, Shiba Inu’s future may still hold promise.
On February 23rd, a significant transfer of cryptocurrency was observed, as 34,742.6 ETH was moved from Wintermute to an address linked to Bybit. According to Arkham data, this particular address
Ethereum core developer Tim Beiko has cautioned against any potential move to roll back the Ethereum network despite growing calls from the broader crypto community to do so in the wake of Bybit’s $1.5 billion hack. Beiko went to X to explain why reverting the chain to its pre-hack state wasn’t an option. He wrote: “It’s worth breaking down why this reasonably sounding proposal is technically intractable for less knowledgeable observers.” Experts push for Ethereum rollback to recover Bybit’s stolen funds The hack on Bybit happened on Feb. 21, following the transfer of funds from the exchange’s multisig wallet to a warm wallet. The transaction did look legitimate, but malicious code had infected the smart contract logic, allowing hackers—thought to be the North Korean Lazarus Group—to drain funds away. Some industry experts have proposed rolling back Ethereum, with BitMEX co-founder Arthur Hayes and Jan3 CEO Samson Mow both publicly backing the idea of rolling the token back to recover the stolen funds and prevent the North Korean government from spending them. But a rollback like that, Beiko explains, is nothing like Ethereum’s controversial hard fork in 2016 after the TheDAO hack. Hackers took advantage of a vulnerability in TheDAO incident to drain about 15% of all ETH at the time. There was a failsafe whereby withdrawals were delayed for a month, giving developers a chance to intervene. In the end, the community voted in favor of an “irregular state change,” reversing the hack and resulting in the split between Ethereum and Ethereum Classic. Beiko elaborated, saying that the same delay did not exist in the Bybit hack. The funds were immediately available and rapidly distributed on-chain, rendering intervention impossible without wider disruption. Ethereum rollback sparks warnings of catastrophic consequences A rollback would be far more disruptive now due to the exponential growth of Ethereum’s infrastructure since 2016, Beiko emphasized, than it was when TheDAO hack happened. The emergence of decentralized finance (DeFi) applications, cross-chain bridges, and real-world asset integrations means that any nonstandard state change could trigger failure at a massive scale. Beiko warned that t his level of interconnectedness means that any irregular state change, even if socially palatable, would have near-intractable ripple effects . He continued to say that a rollback would also invalidate many legitimate transactions, affecting thousands of users unrelated to the hack. Anthony Sassano, Ethereum educator, shared a similar sentiment: “That’s not how any of this works, and not even how it worked with TheDAO hack.” Yuga Labs Blockchain VP—using the X handle 0xQuit —also criticized rollback proponents, stating that the economic dislocation caused by that action would be orders of magnitude greater than the $1.5 billion taken. “Thousands of innocent people would get money taken from them, thousands more would receive money they shouldn’t,” 0xQuit wrote. According to the VP, Ethereum has become the foundation of DeFi and the default settlement layer for many rollups, making a rollback impossible. Even Bybit CEO Ben Zhou seemed to waffle on the concept, noting that he was not sure if it was one man’s decision. He suggested that following the blockchain ethos, the decision should perhaps go to a vote to gauge community opinion, but he admitted uncertainty. Blockchain rollbacks were plausible only in Bitcoin’s early days or during the infamous TheDAO incident, but the present level of complexity in Ethereum makes them all but impossible, Beiko concluded. As a decentralized network, Ethereum makes transaction immutability a big deal—once confirmed, it cannot be undone, and reversing it would shake up the rest of the crypto system. As Ethereum developers refuse to revert to the earlier state, the crypto industry will need to look to other means of healing, such as fortifying security measures and facilitating user awareness that will prevent future exploits of this magnitude. Cryptopolitan Academy: How to Write a Web3 Resume That Lands Interviews - FREE Cheat Sheet
Dogecoin price has been gaining attention as analysts predict a potential surge of 200% amid growing speculation about a Dogecoin ETF approval. Market participants are closely watching price movements, with many expecting DOGE to surpass its all-time high of $0.739. As the U.S. Securities and Exchange Commission (SEC) reviews multiple applications for a Dogecoin ETF, traders and investors are anticipating a major rally. Dogecoin ETF Filings and Market Expectations Grayscale Investments, CoinShares, and WisdomTree have submitted applications for a Dogecoin ETF, aiming to provide investors with regulated exposure to the cryptocurrency. The SEC has acknowledged Grayscale’s filing, signaling the beginning of a formal review process. If approved, the ETF could attract institutional investors, potentially driving up Dogecoin price. Regulatory sentiment toward cryptocurrencies appears to be shifting, especially under the current administration. Recently, the SEC dropped its lawsuit against Coinbase , reflecting a more crypto-friendly stance. This change has fueled optimism regarding the approval of new crypto investment products, including altcoin ETFs like XRP, Litecoin, Hedera and a Dogecoin ETF. Consequently, analysts suggest that if an ETF receives approval, Dogecoin price could see a substantial increase. Technical Indicators Suggest a Bullish Outlook Chart analysis indicates that Dogecoin price may be preparing for a breakout. A falling wedge pattern has formed on the four-hour chart, and DOGE has broken out of this formation. This pattern is typically seen as a bullish signal, suggesting further price gains. Key indicators also point toward potential upside movement. The Average Directional Index (ADX) stands at 27.95, indicating that a trend is forming. Meanwhile, the Relative Strength Index (RSI) has risen to 43.67, recovering from oversold conditions. If RSI crosses above 50, it could confirm bullish momentum for Dogecoin price. DOGE/USD 4hr price chart (TradingView) Traders are watching key support and resistance levels. The support level is around $0.23, while resistance sits at $0.26 and $0.30. A move above these levels could signal further gains for Dogecoin price. Analysts Predict DOGE Price Could Reach $3 to $5 Several analysts like Javon Marks are forecasting major price increases for Dogecoin in the current market cycle. Concurrently, Basic Trading has identified $0.2, $0.5, and $5 as key price levels, noting that Dogecoin price is in an upward trend despite recent corrections. The analyst pointed out that DOGE has followed a historical pattern of large percentage gains in previous bull cycles. Crypto analyst Ali Martinez has also projected a bullish scenario for Dogecoin price. He highlighted that if the support range between $0.16 and $0.19 holds, DOGE could rally to $3 . Similarly, analyst Trader Tardigrade stated that Dogecoin’s macro chart is showing a similar pattern to the 2017 cycle, which could result in a surge toward $1.7. Other analysts have set even higher price targets. Dima Potts suggested that Dogecoin price could reach $10 if it mirrors past bull market trends. Some traders believe that DOGE’s historical price movements indicate a strong possibility of surpassing previous all-time highs. The post Will Dogecoin Price Soar 200% As DOGE ETF Approval Odds Hit 75%? appeared first on CoinGape .
On February 23rd, COINOTAG reported that DWF Labs’ founder, Andrei Grachev, made a significant move in the crypto market by indicating his willingness to transfer ETH to Bybit if required.
Summary BTC mining is a C+ business with poor fundamental economics, making it difficult for miners to achieve profitability despite positive catalysts like BTC price increases. Miners face low margins, high competition, and cyclical industry dynamics, often resulting in negative net incomes and the need for continuous capital infusion. Key differentiators among miners include operational efficiency, HODL strategies, and potential pivots to HPC/AI datacenters, though industry dynamics often overshadow these factors. Investors should be cautious, as miners typically lose money over time, even during BTC bull cycles, due to the industry's poor economics and high operational costs. “When a management with a reputation for brilliance tackles a business with a reputation for poor fundamental economics, it is the reputation of the business that remains intact.” –Warren Buffett The BTC mining industry In my opinion, BTC (BTC-USD) mining is a C+ business and investors should recognize the importance of industry dynamics when investing. BTC miners are often thought of as levered plays on BTC, where, like the tide, the price of BTC lifts or lowers all boats. However, most BTC miners have underperformed BTC in the last year despite several positive catalysts, most important being the increase in the price of BTC. Investors should be cautious and recognize the cyclical nature of the industry is just as important (if not more so) than the qualities of individual companies. And even companies with positive underlying fundamentals usually lose money due to the poor economics of the industry. BTC mining is a straight-forward business where profit is determined by the difference between Bitcoin’s spot price and power and computing costs. For example, if the spot price of BTC is $100,000 and power are computing costs are $70,000, a BTC miner will make $30,000 per BTC. It’s a simple business, but it is not easy. BTC mining is very competitive with low barriers to entry, and despite having low energy costs, miners typically have low margins. For example, none of them made any money last year! Gross margins were positive, but net incomes were negative after including depreciation expense for computers. Because P/E ratios are undefined, EBITDA and CFO multiples are two financial metrics most commonly used for comparison and valuation. EBITDA adds back depreciation expense, which some argue is overstated due to a longer useful life of the computers. However, not replacing miners will eventually result in higher energy costs, so either way, computer costs impact earnings. Cash flow from operations ((CFO)) were also negative– except for a handful of miners. Despite negative CFOs, many miners recycle cash flows into new machines and additional mining capacity to remain competitive. Thus, most miners are running to stand still financially, and investors should question the logic of additional investment. In this article, I use three attributes to differentiate between BTC miners: 1) operational efficiency; 2) whether the miner keeps the BTC it mines or sells it (i.e. a HODL strategy); and 3) whether the miner plans to pivot towards HPC/AI datacenters. Each of these differentiators had positive catalysts last year that caused individual BTC miners to perform well in the short term. However, on the whole BTC miners have underperformed during a bull cycle for BTC. If miners cannot make money during the best of times, it’s certain that they will lose money in the worst of times. A final criticism investors should be aware of is that most miners use stock offerings and convertible bonds to pursue growth at all cost, diluting existing shareholders. So, although the company might have an advantage in the differentiators above (i.e. better profitability, an increase in HODL value, and a pivot to HPC), the equity value of the company will decline because the company continually requires an infusion of new equity to maintain its market position. In conclusion, the economics of BTC mining sort of stinks, and investors should be cautious of the cyclical nature of the industry before investing. Current BTC Bull cycle and positive and negative catalysts: Last year, BTC miners benefitted from multiple positive catalysts that ushered in a new bull cycle. Most important for the bull cycle was an increase in price of BTC. The price of BTC is a positive catalyst for BTC miners for two reasons. First is that it improves margins for the mining business, and second, the price of BTC increases the value of the HODL if the miner holds BTC. As shown in the chart below, the current BTC cycle appears to be progressing similar to previous cycles. Medium.com Source: Where are we in the bitcoin cycle? A second positive catalyst for BTC and miners last year was Trump’s election in November. It is widely expected that Trump’s administration will be positive for the BTC industry with favorable regulations, favorable energy policy, and the potential for a Strategic Bitcoin Reserve ((SBR)). A third catalyst for BTC has been investor demand for BTC ETFs and corporate adoption of BTC as a treasury asset. Most prominent in this area is Michael Saylor and Strategy ( MSTR ) purchasing BTC using convertible debt. A final positive catalyst for BTC miners is the creation of a BTC miner ETF by Grayscale. The Grayscale Bitcoin Miners ETF ( MNRS ) will likely increase investment and interest in the industry. To promote their ETF, Grayscale wrote this summary of the industry . Despite the positive catalysts, most BTC miners have underperformed BTC over the last year. For example, the chart below shows miners' performance through the year when compared to BTC. 1 year returns of BTC and 12 miners (Author calculations) Roughly half the BTC miners posted gains over the last year. However, only Core Scientific, Bitdeer, Hut8, and TeraWulf gained more than BTC, with Iris Energy, and Cipher posting returns similar to BTC. 1 year returns for each BTC miners (Author calculations) Lastly, the chart below shows the hypothetical return of $100 invested in BTC when compared to an index of 12 BTC miners. Although BTC was up about 83% over the past year, the BTC miner index was only up about 50%. Comparison of BTC performance and hypothetical BTC Miner index (Author estimates) It can be argued that the returns above are somewhat arbitrary due to the selection of the 1-year, historical time window (i.e. February 2024 - 2025). However, most miners lost money when looking at their financials over the past year. In general, miners briefly made money in Q1 as the increase in BTC price improved margins. However, the BTC halving in the second quarter was a negative catalyst that decreased revenues and returned miners to negative net incomes. As a result, twelve trailing month earnings appear positive for some miners (MARA, RIOT, and HUT), but I doubt that miners will report positive earnings in 2025 unless BTC continues to rise, further increasing margins. The impact of the halving can also be seen in EBITDA and CFO in Q3, which are negative for all but three miners (CORZ, WULF and BITF). Financials for BTC miners (S&P Capital IQ and Author) A second negative catalyst has been an increase in global hash rates, which have increased 50% from about 550 TH/s to 850 TH/s over the last year. Thus, miners that have not increased their production in proportion to the increase in global has rate will mine less BTC per day. Consequently, miners only make money during these short time windows where the BTC price increases, before global hash rates respond to erode (if not eliminate) temporary profits. It will be interesting to watch revenues and income for Q4 2024 and the price of BTC going forward. Global Hash Rate of BTC network (Blockchain.com) A framework for comparing miners The three attributes I use to differentiate miners are: operational efficiency, the miners’ HODL strategy, and whether it plans to pivot to more stable revenues of HPC. Despite these attributes as a way to evaluate miners, the industry dynamics are likely still more important. As the Warren Buffett quote suggests, an A+ operator in a C+ industry will likely lose. Operational Efficiency For operational efficiency, power cost and computer efficiency are the two most important metrics. However, it is really difficult to rank miners by operational efficiency because there are a variety of metrics, which often indicate contradictory performance among miners. Also, I think there is little differentiation in operational performance because power costs and miner efficiency are somewhat uniform. For power costs, miners have established operations around the world near the cheapest sources of power. Often these are stranded, excess energy resources, such as hydropower, nuclear power, natural gas flared from a fracking, or intermittent wind and solar. A miner might get a good deal of 3-4 cents/kWh for electricity, but there is a natural, lower limit for power costs because power producers have to cover their own capital costs of energy production. Good miners have fixed price power agreements behind the meter, where a bad miner will have variable, ‘front of the meter’ power costs. Second, there is little differentiation for computer efficiency because miners all buy the same computers from the same computer three companies (Bitmain, Canaan, and MicroBT). Although machines might become older and less efficient, most miners upgrade their machines after 2–3 years, and sell the older machines. So a single miner never has a significant advantage for computer efficiency for a substantial period of time. In some ways, miners are like Formula 1 race car teams - they all have the same car design, engine, tires, etc. One team might have a slight advantage for a short period, but the other miners will recognize their advantage and upgrade their machines to eliminate the advantage. Below are three metrics I follow to compare miner’s operational efficiency: BTC miner per exahash; energy efficiency (J/TH) of mining operations; and quarterly mining costs per BTC mined. The table is ranked by market cap, which tends to coincide with the exahash of mining capacity, and thus, the amount of BTC mined per month. Collectively this group of publically traded companies is about $30 billion of market cap, and represents about 31% of the BTC mined on any given day, or roughly 3,900 BTC in December. BTC mined per EH/s and energy efficiency in J/TH are the two best metrics for efficiency. BTC mined per EH/s measures how productive the miner fleet is with each exahash of capacity. Larger numbers are better for this metric, and the best miners report about 18-19 BTC mined per EH. The second is energy efficiency, which measures the amount of energy per unit of computing power. Smaller numbers are better for this metric, with the most efficient miners under 20 J/TH. The final metric is quarterly mining costs for electricity per BTC mined. This metric shows the electrical cost of each BTC mined. Lower cost for each BTC means a miner will have higher gross margins, and likely higher net incomes. Similarly, the final column shows reported energy costs per MWh. The best miners tend to have contracted power between $30-40 MWh (or $0.03-0.04 per kWh). As part of their power agreements, most miners have curtailment obligations, which require miners to decrease their power consumption when demand and power rates increase. As a secondary data point to my numbers below, Anthony Power wrote a great article recently that reconciles capacity, efficiency and power costs across miners. Operational Efficiency metrics (Author from company filings) HODL The second differentiator between BTC miners is whether it keeps the BTC it mines, dubbed a HODL strategy (or hang on for dear life). Due to the price volatility of BTC, some miners historically sold all the BTC it mined to fund operations and report more consistent earnings. Executives of the no HODL strategy are no doubt BTC advocates, but argue that the business of mining and speculation on BTC are two distinct concepts. As they say, ‘If you believe in BTC, buy BTC. But our business is mining, not speculating on the price of BTC.’ Other miners historically sold the bare minimum to fund operations and HODLed the BTC they mined. As a result, historical revenues were lower, but now many of these miners have substantial BTC reserves on the balance sheet. These reserves add leverage, where the market price of BTC adds to or subtracts from the value of the company. Given there will only be 21 million BTC, and that likely 20 million remain due to loss of keys, these HODLs that were established at much lower BTC prices and could potentially exceed the value of the mining operations. As shown in the far-right column, in some cases the mining operations only represent 50% of the value of the company, with the other 50% of the value due to the HODL. To put the HODLs below into context, collectively the group owns about 90,000 BTC. BlackRock BTC ETF owns about 580,000 BTC and Strategy owns about 400,000 BTC, or about 3% and 2% respectively (or 5% in total) of all BTC that will exist. So, the miners are roughly one-quarter the size of the Strategy or BlackRock ETFs, with half of the industry’s HODL owned by Marathon. If the US or some other nation pursues a BTC Reserve and attempts to acquire 500,000 BTC (similar in size to IBIT or MSTR), it will be very difficult to source enough BTC for the reserve without the price of BTC going much higher. In short, miners cannot supply enough BTC from their future mining operations. As mentioned, the miners collectively mine only 3,800 BTC per month. So a BTC reserve of 400,000 BTC would take 100 months to mine, or 9 years of all miners’ production! In my opinion, many BTC miners with HODLs do not currently reflect this upside potential from the price of BTC. As a sub-set of the HODL strategy, some miners also issue convertible debt to purchase BTC in addition to the BTC they mine, implementing a strategy similar to Strategy. HODL Strategy metrics (Author from company filings) HPC Pivot The last differentiator between BTC miners is whether the miner is expanding into high-performance computing (HPC) to leverage their expertise building data centers and power agreements to increase revenues. The advantage of the HPC strategy is that HPC revenues will be more stable, have better margins, and allow for added leverage. Core Scientific set off this trend last summer when it announced a deal to host HPC operations for Core Weave, an AI/ML software developer. The deal has sort of set a high-water mark where Core Scientific will receive $1.5m for each MW of power with 80% margins on the capital invested. TeraWulf was the second company to announce a deal in December 2024. Other miners had hosting operations already (BTDR), or recently acquired data centers ( BTBT ) to enter the HPC space. Riot platforms initially stated they would not host the HPC market, but announced in January that they would pivot to HPC and decrease its energy target for its BTC mining operations. Some people speculate this indicates Riot is close to announcing a deal for its energy assets. Miners that do not intend to pivot to HPC argue that miners lack the financial firepower to compete with tech companies and hyper scalers. For example, the combined market cap of all the miners is $30 billion. Microsoft alone plans to spend $80 billion in capital expenditures in 2025 for AI, or roughly 2.5 times the market cap of the entire miner industry. The Wall Street Journal wrote an article recently that summarized $75 billion in quarterly capex at the tech giants. Also, it is unclear if miners have a unique competitive advantage for hosting compared to other data center operators. Indeed, they have experience building BTC mining facilities, but ultimately most miners plan to offer building shells with power and an internet connection with the customer providing the computers. How exactly is this different than a data center REIT, like Digital Realty Trust (DLR)? (More specified build outs and hosting arrangements are more complex, require server GPU computers, and carry more risk due to computer obsolescence.) HPC Pivot metrics (Author from company filings) Conclusion I hope with this article provided some insight into the industry and provides a warning about some mistakes I’ve made. I first invested in HIVE Digital ( HIVE ) during the BTC bull cycle that began in 2016-2017. It is a small position that I continue to hold. Over this time frame, BTC has increased 50x, rising from $2,000 to $100,000. However, my stock is down 75%! Hive stock performance since 2017 (Yahoo Finance) How is that possible? In theory, the company makes on each BTC that it mines and owns a HODL of BTC. I thought BTC miners were a levered play on the price of BTC? What did I miss? And how can I prevent this from occurring again? I believe the answer is that I failed to understand the basic economics of the industry: that the all in costs to mine a BTC exceed the cost of BTC. I incorrectly assumed that BTC mining would be similar to oil refining and gold mining. In oil refining, profitability is determined by the crack spread, or the difference between oil costs and revenues from refined products, like gasoline. Except for rare time periods like March 2020 when oil prices went negative, refiners are almost guaranteed to make a small profit margin from refining. So, refiners make a small profit over a continual volume of throughput. For gold miners, profitability is usually determined by the all in sustaining costs (AISC) of the mine. Gold miners cannot control the price of gold, and mining is highly capital intensive. So gold miners ensure there is a sufficient buffer between the price of gold and their AISC. Therefore, miners can cut production to maintain profitability if the price of gold declines. So, gold miners make profit based on an estimated volume of production. BTC miners are somewhat a combination of both refiners and gold miners. Net margins are very thin (or negative) similar to refiners. But unlike gold miners, BTC miners cannot control their AISC because of the growth in global hash rate erodes the value of the mine. It’s like a gold mine, where the amount of gold in the ground has a half life and dissipates with time. Miners also believe they grow their way to profitability by improving efficiency and economies of scale. The logic is, “gross margins are good, and we’ll eventually make money if we grow to spread the computational costs out across a wider base of operations.” Growth in global hash rates also requires them to pursue growth, so it seems to make sense. As a result, miners sell each BTC at a loss while trying to make up the loss on volume. This strategy consumes capital from investors who mistakenly believe that miners are a levered play on the price of BTC, and that miners will continue to make money when only at the periods when the economics of mining make sense. BTC miners could perform well if this BTC bull cycle continues. As described above, it really depends on how high the price of BTC goes and whether new investors, that don’t understand the industry, bid up the stocks. But, if or when the cycle ends, miners will likely lose money as the economics of the industry don’t make sense. Time will tell. At the very least, I got a laugh recently when I read that Hive was expanding production … by buying a site from Bitfarms ( BITF ), another BTC miner! Some things never change, I guess.
The FTX crypto exchange going down will forever be remembered as a dark day in crypto. But props to the company for finally starting to repay creditors. It went through with its first round of repayments on February 18, where it paid out the ‘Convenience Class,’ i.e., investors who lost up to $50K. The next FTX repayment distribution will happen on May 30. In addition to the company’s trading partners and vendors, this round will address investors who had assets on the exchange when it went under. It’s worth noting, however, that in order to qualify for this round of distribution, FTX creditors must verify their claims by April 11. FTX Faces Claims from Ineligible Jurisdictions Amid the bankruptcy-repayment saga, FTX creditor and advocate Sunil Kavuri took to X to share a list of 163 countries that are allegedly ineligible for repayment. The list includes countries like China, Russia, Nigeria, Egypt, and Ukraine. Neither Sunil nor FTX has given any reasons for the rejection of claims in these regions. However, Sunil did say that FTX is reviewing its options. The bottom line, therefore, is that FTX repaying its creditors could be very good news for crypto overall. As the date of the next FTX repayment inches closer, here are some of the best meme coins most likely to rally. 1. BTC Bull Token ($BTCBULL) – Best Meme Coin for First-Time Investors Although the larger crypto market, including meme coins, benefits from Bitcoin’s growth, BTC Bull Token ($BTCBULL) is here to take this correlation to a whole new level. It’s a fresh take on meme coin dynamics, seeing as it won’t just rally because of market hype and community backing but also from increasing crypto adoption and subsequently rising Bitcoin prices. $BTCBULL token holders will receive free $BTC every time Bitcoin hits a new benchmark number, such as $150K, $200K, $250K, and beyond. While other meme coins offer tokens or amusing NFT characters as rewards, BTC Bull Token has become the only crypto project to reward token holders with $BTC, a very valuable asset. Additionally, with 40% of the token supply set to be used for marketing purposes, we can expect $BTCBULL to continue its upward trajectory long after it gets listed on an exchange. The $BTCBULL presale came out all guns blazing and has raised more than $2.6M in less than two weeks. You can join the BTC Bull Army by paying just $0.002375 per token. 2. Solaxy ($SOLX) – Solana Meme Coin Breathing New Life Into the Network Solana’s recent performance has been suboptimal, to say the least. Especially when it’s one of the top players in the blockchain game and a haven for meme coins. The network is plagued with issues: network congestion, failed transactions, and limited scalability. Enter Solaxy ($SOLX) . A multi-chain token, Solaxy will process transactions off-chain and in batches. This will not only reduce the overall pressure Solana’s mainnet has been facing of late but also reduce transaction costs. With Solana ($SOL) right on the edge of dropping to $125 due to increasing downward pressure, Solaxy ($SOLX) offers a ray of light and what could possibly be the turning point for the network. Poised to be the biggest catalyst behind Solana’s growth, it’s no wonder why $SOLX is one of the top contenders for the next 100x crypto . Luckily for you, the project is currently in presale ($23M+ raised), meaning you can become an investor at some of the lowest prices ever. 1 $SOLX is currently available for just $0.001644. Moreover, early adopters will also be able to benefit from the project’s 176% staking rewards. Here’s how to buy $SOLX . 3. MIND of Pepe ($MIND) – AI Agent Offering Crypto Investment Advice If you missed out on the recent $BROCCOLI explosion, chances are you weren’t looking at CZ’s X chatter. We don’t blame you, though. After all, it’s simply impossible to be aware of everything crypto-related going on online. Unless, of course, you’re MIND of Pepe ($MIND) . As the best AI agent coin , $MIND is set to revolutionize how crypto investing works. Gone are the days when you had to be on your toes scouting for investment opportunities. $MIND will do it for you. $MIND will interact with the online crypto community (on dApps and social media platforms like X) and cut through all the varying opinions and insights and mountains of information to identify the next cryptos to explode . The $MIND presale is underway, and you can become an early investor for just $0.0033857 per token. With over $6.7M in presale funding so far, $MIND sits comfortably among the best crypto presales live right now. Here’s how to buy it . 4. Comedian ($BAN) – Trending Community-Driven Meme Coin There’s never a dull day in crypto, and Comedian is the most recent example of this. It’s a relatively new meme coin based on the infamous artwork of Maurizio Cattelan featuring a banana taped to a wall. The artwork, in case you haven’t been up to speed, instantly went viral, sparking debates on whether modern art is really as thought-provoking as it claims to be. Or is it just lazy, overhyped, and borderline insulting to the greats of the past. Launched on the Pump.Fun platform in October 2024, the $BAN token was an immediate success. It rose to $0.3 just days after its launch, generating over 460% gains for early investors. After consolidating for nearly two months, the token is back to dominating the market. It has jumped nearly 100% in the last seven days. The momentum seems to continue as we head into the second week of a fresh Comedian ($BAN) rally. It’s currently trading at $0.1408 . Conclusion Even though times ahead look like they’ll be very kind to crypto and meme coins, it’s always a wise idea to follow healthy investing habits. These include only putting in a small amount and preparing yourself for violent ups and downs. Also, this article shouldn’t be considered financial advice. We urge you to do your own research before investing. You could also consider consulting a professional before diving in.
Warren Buffett is selling off billions in stocks and hoarding more cash than ever, but no one knows why. The 94-year-old Berkshire Hathaway CEO has unloaded over $134 billion worth of equities in 2024 alone, cutting deep into his company’s biggest holdings. At the same time, Warren is sitting on an all-time high of $334 billion in cash, even as US interest rates are expected to drop. His 2024 annual letter, released on Saturday, was supposed to answer the biggest question on investors’ minds: Why is Berkshire offloading stocks at record speed? But instead of an explanation, Warren doubled down on his love for equities, writing, “Despite what some commentators currently view as an extraordinary cash position at Berkshire, the great majority of your money remains in equities. That preference won’t change.” His actions, however, tell a different story, and this is the longest continuous selling streak in Berkshire’s history. In total, Berkshire sold $143 billion worth of stocks throughout 2024, while buying just $9.2 billion, making it one of his most aggressive divestment years. This sell-off was led by reductions in Apple and Bank of America, two of Berkshire’s largest stock positions. Warren Buffett breaks an investment pattern The fourth quarter of 2024 was the first time in over a decade that Berkshire bought back zero shares, and Warren confirmed that the company had not repurchased any stock in early 2025 either. This was despite Berkshire posting a record 27% rise in operating earnings. “Berkshire shareholders can rest assured that we will forever deploy a substantial majority of their money in equities – mostly American equities although many of these will have international operations of significance. Berkshire will never prefer ownership of cash-equivalent assets over the ownership of good businesses, whether controlled or only partially owned,” Warren wrote in his letter to the shareholders. But after selling more stocks than he has in years, piling up a cash hoard bigger than the GDP of most countries, and refusing to buy even his own company’s shares, many aren’t convinced. His 2024 sell-off comes in the middle of one of the strongest stock market rallies in years. The S&P 500 surged over 20% for two consecutive years, and stocks remain near all-time highs. Yet, Warren—who has consistently outperformed the stock market for years now—isn’t buying. He’s selling. A strategy for Greg Abel? Or a warning sign? At Berkshire’s 2023 annual meeting, Warren shocked investors by announcing that Greg Abel, his long-time vice chairman, would take over all investment decisions, including control over Berkshire’s $368 billion stock portfolio. Some analysts believe the cash piling is about Warren preparing Berkshire for Abel’s leadership. By liquidating stocks, Warren may be giving Abel a clean slate, making sure his successor has the flexibility to make big decisions without being tied to Warren’s legacy investments. Warren himself hinted at Abel’s influence in his latest letter, saying, “Often, nothing looks compelling; very infrequently we find ourselves knee-deep in opportunities. Greg has vividly shown his ability to act at such times as did Charlie.” That comparison to Charlie Munger, Warren’s late right-hand man, was another big sign of his endorsement of Abel’s decision-making skills. Despite his massive stock sell-offs, Warren is still active in one area: Japan. Berkshire has been steadily increasing its stakes in five Japanese trading houses, a position Warren started nearly six years ago. Unlike his American holdings, Warren made it clear that he plans to keep expanding in Japan, writing in his letter that: “Over time, you will likely see Berkshire’s ownership of all five increase somewhat.” Berkshire is now the biggest taxpayer in the US Warren had plenty to say about taxes. In 2024, Berkshire reportedly paid $26.8 billion in corporate income taxes, making it the biggest taxpayer in the United States. That sum accounted for 5% of all corporate tax revenue collected by the US government. In his letter, Warren took the opportunity to warn Washington about reckless spending, writing, “Spend it wisely. Take care of the many who, for no fault of their own, get the short straws in life. They deserve better. And never forget that we need you to maintain a stable currency and that result requires both wisdom and vigilance on your part.” He also reminded lawmakers that the value of the US dollar isn’t invincible, adding, “Paper money can see its value evaporate if fiscal folly prevails. In some countries, this reckless practice has become habitual, and in our country’s short history, the US has come close to the edge.” This isn’t the first time Warren has warned about inflation and reckless government spending, but with Berkshire now sitting on its largest-ever cash reserve, his words carry even more weight. Warren’s 2024 shareholder letter ended on an unusual note. Instead of discussing future plans, he made a rare joke about his own lack of skills outside investing. “Lacking such assets as athletic excellence, a wonderful voice, medical or legal skills or, for that matter, any special talents, I have had to rely on equities throughout my life,” Warren Buffett wrote. 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