Smart Money Bought The Dip, Did You?

But Also: WazirX Reverses Customer Trades After $235M Hack, Jump Trading's Rumored Exit, Ethena To Expand To Solana

Author

Dennis Baca
August 09, 2024 • Reading Time: 7 minutes

🌻 GM!

Welcome back to your weekly dose of web3 insights! Your go to source for everything DeFi, RWAs, and Zivoe.

Here’s what we’ve got for you today:

  1. Market Movements

  2. Bite-Sized Bits

  3. 13 Days To Launch

  4. Zivoe In The News

  5. Smart Money Bought The Dip, Did You?

  6. Memes Of The Moment

📉 Market Movements

Firesale on crypto assets this week!

🟠 Bitcoin: $60,241.43 (- 6.90%)

🔵 Ethereum: $2,609.49 (- 17.00%)

🟣 Solana: $154.49 (- 5.31%)

🟡 Fear & Greed Index: 48 (Neutral)

🍪 Bite-Sized Bits

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🚀 13 Days To Go!

Attention Zivoenauts! We are now just 13 days away from the Initial Tranche Offering (ITO) and we couldn’t be more excited. The ITO will commence on August 22nd at 11:00 AM EST (3:00 PM UTC) and run through September 21st!

During the event, you can deposit stablecoins to our Senior and Junior Tranche to start earning $ZVE airdrop points! To learn more about the event, check out our docs and watch the video below!

Ready to get in on the action? You can head over to our dApp right now to begin exploring. And for U.S. Persons, you can get ahead of the game by completing your KYC and Accreditation today, so you’re ready to go on day 1 without any delays 🚀🚀🚀

📰 Zivoe In The News

🤑 Smart Money Bought The Dip, Did You?

Financial markets got smoked 💨 this week, with over $6.4 trillion erased from equities and $230 billion wiped out from crypto markets. As retail investors scrambled to sell, institutional investors swooped in to buy the dip 🚀

The Great Unwind

The correction started when Japan unexpectedly raised interest rates. This disrupted a popular trading strategy called the yen carry trade, where investors borrowed cheap yen to invest in higher-return assets elsewhere. As the yen strengthened, the profits from these trades shrank, forcing investors to quickly sell off their assets to close their leveraged positions.

At the same time, weak tech earnings and concerns about the U.S. labor market fueled fears of an economic slowdown. These factors combined to trigger a rapid global selloff, with both stock and crypto markets suffering significant losses.

How It Played Out

As markets plunged, retail investors scrambled to sell in a panic 😨 Meanwhile, institutional investors seized the opportunity, buying up assets like Bitcoin and stocks at bargain prices. 🤑 

Here’s how it went down in equity markets:

And in crypto markets:

Lessons From The Big Players

If you're playing the long game, don't let short-term market dips shake your confidence. Use these moments to reassess your reasons for holding an asset and ensure your original investment thesis still holds true. If it does and you have some spare cash, it might be the perfect time to buy more.

Otherwise, keep calm and HODL!

🐸 Memes Of The Moment

📲 Join The Fight Against High Interest Lending

Join our community and stay up-to-date with the latest news and developments by following us on social media. Connect with us to engage in discussions, receive real-time updates, and be part of the Zivoe movement!

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