The Shark Got Bitten. Crypto Not a Cupid. Rich Are Staking Their ETH.

September 22, 2023

Crypto Market Update 22-09-23

Happy Friday everyone!

Tomorrow is your last summer day for 2023, so if you're in the northern hemisphere I know what you might be feeling. For our readers in the southern hemisphere, your spring is coming, enjoy! Now to our weekly recap 📰😎

Last 7 Days Market Performance 

Bitcoin is up 1.1%, now at $ 26,618.00 📈

Ethereum is down 1.6%, now at $ 1,592.00 📉

Total crypto market cap: $ 1.09 Trillion

Fact for the week:

🎵 Songs are getting shorter and the usual suspect, the algorithm, is to blame. Music streaming services (like Spotify) pay artists by the number of plays, and a song only counts if a user listens for at least 30 seconds. The algorithms also tend to recommend songs that are listened to all the way through, so if you do an 8-minute one, it better be spectacular until the end. In response to this policy, artists are making their songs shorter and including the hook in the first 30 seconds, so don't be surprised if now you always hear the choruses at the beginning. 🕺

Onto this week’s updates 🚦

🔴 The Shark Got Bitten 🦈

Mark Cuban, billionaire investor and renowned star known for Shark Thank television series, experienced the pain of a bite, and it wasn't a soft one. Last Friday news broke that the crypto wallet of the famous investor - and also owner of the NBA team Dallas Mavericks - had been compromised and that the funds were heading to other wallets. The result: Cuban fell for a scam and those responsible managed to steal around $900,000 in tokens such as ethereum and USDC. 🤕

🟡 Crypto Not a Cupid 💘

There's a new dating trend on the internet and it involves crypto... but I wouldn't let myself fall in love. “Pig butchering” scams (you read it correctly), where victims are “fattened” up with flattery, under the guise of romance, are on the rise and the strategy is pretty simple: scammers find victims on dating sites, playing on their desire for connection to gain their trust. Conversations then moves to WhatsApp where they sweet-talk them into investing in crypto using fake yet convincing exchange sites. The rest you already know… 💔

🟢 Rich Are Staking Their ETH 🪙

Diogo Mónica, the portuguese co-founder and President of the first American crypto bank, Anchorage Digital, said that the big names don’t want to just hold Ethereum (ETH) token anymore, they want to staked their ETH and actively participate in the crypto ecosystem and, of course, earn ETH yield (or interests) by staking their tokens. Anchorage saw interest in staking ETH quadruple this year 2023. You can also do it at Lympid 😉

🎬Summer is about to end but we’re hotter than ever 🔥 Like promised last week, we launched our latest product, which got everyone talking! 👀

You can now benefit from the 4.5% yield on your USDC from exposure to US debt. This is our crown jewel, serve yourself as you please. 💎

Lympid: Crypto interests on a trusted, regulated platform

Talk next week 👋


Great job on learning something new today 🎉