🚀 Three Big Accounts Say Altseason Is HERE!
👉 And Coinbase Earnings Show Retail Is Already Here To Play!
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📰 Coinbase Earnings Show Retail Is Already Here To Play!
💎 CZ Breaks BNB!
💥 Best Alpha Posts of the Day - Altseason Edition
🐸 MEMEoirs of a Degen!
📢 Biggest Announcements
💭 Banter’s Take
GM Degens,
One of the biggest platforms in crypto—NFTs specifically—has announced a token. Meanwhile, Binance’s ex-CEO has been inadvertently creating liquidity flows back and forth to the BNB chain after posting a photo of a dog.
But most importantly, it seems more and more people are talking about altseason being just around the corner.
Let’s dive in!
🌍 Market Catch-Up
Top 100 coins Daily Performance - Banter Bubbles
Source: CoinMarketCap
📰 News of the Day
Coinbase Earnings Show Retail Is Already Here To Play!
First off, in traditional finance, only 45% of S&P 500 stocks are currently trading above their 100-day moving average, showing a big portion of the index is underperforming. But Meta (META) has traded green for 19 consecutive days, marking the longest winning streak for any Magnificent 7 stock.
Over to market sentiment, which heavily influenced by the Fed’s decisions, the likelihood of the Federal Reserve cutting interest rates in March is now just 2.5%—a cautious stance. President Trump, however, has stated that interest rates will decrease soon. Can he really make this happen? This comes as the US PPI for January rose 3.5% year-over-year, surpassing market expectations of 3.2%. Additionally, Trump's proposed tariffs are delayed and may take effect on April 1—unless that’s some April fool’s joke.
When it comes to huge news, though, the insane earnings report from Coinbase (COIN) is definitely the biggest piece from the last 24 hours.
Coinbase reported Q4 revenue of $2.3 billion, exceeding estimates of $1.9 billion and reflecting an 88% increase from the previous quarter. Despite the strong results, the stock saw volatility in after-hours trading, initially rising 5% before reversing and falling 5%.
Here’s where it gets interesting, though…
The biggest factor contributing to this number is actually retail! Retail trading activity has been significant, with around 35x more volume compared to institutional trading. So, despite claims that 'retail is not here' from many on X, it seems they are. And that is food for thought when you factor in the altseason posts further down.
As usual, none of this is financial advice, and you all need to do your own research!
💎 Degens’ Den
CZ Breaks BNB!
Former Binance CEO, CZ, released a photo of his dog named Broccoli after teasing it on X, leading to widespread anticipation of a related token launch. As soon as the photo was posted, over 11,000 tokens were minted within the first 50 seconds.
That is crazy! Likely many were created by automated bots, but the liquidity flowed over to BNB.
Now, with 11k tokens, the community is left to speculate which of these (if any) will emerge as the most successful in this crowded scenario. It will be interesting to see whether Binance decides to list the most popular one or not.
Worth noting is that, after all the chaos, there was a slight decline in both BNB and the broader BNB ecosystem.
In other degen news, the NFT marketplace OpenSea has announced their new token, $SEA, something that has been anticipated by many for years—since the last bull market in fact! While a specific launch date hasn't been set, OpenSea has started a farming campaign, so the token might be available in a few months, giving users time to engage with the campaign—of course that is just speculation.
💥 Best Alpha Posts of the Day - Altseason Edition
Here are three posts speculating altseason is near. As usual, none of this is financial advice and you all need to do your own research!
Altseason Post #1
Altseason Post #2
Altseason Post #3
🐸 MEMEoirs of a Degen!
📢 Biggest Announcements
SEC Acknowledges Amendment for Grayscale Spot Dogecoin ETF, Review Process Begins
GameStop Explores Bitcoin and Crypto Investments
Jupiter (JUP) to Kickstart Buyback Program Next Week, Locking 50% of Protocol Fees for 3 Years
Bank of Montreal, Canada's Third Largest Bank, Invests $150M in Bitcoin ETFs
Barclays Discloses Holding $131M Worth Of Bitcoin Via Ibit Shares
💭 Banter’s Take
Things are happening; that is a fact, even if it seems they are not.
See you all on Monday!