To the MANTRA community,
First and foremost, I want to acknowledge the impact of what happened two weeks ago. I understand many of you lost money. Some of you lost a lot of money. Your trust is everything to us, and we're working to rebuild it with a focus on doubling down on transparency, team commitment to the project, and MANTRA Chain's continued decentralization.
Every day, we continue to investigate exactly what happened and develop plans to prevent similar events in the future.
Next week in Dubai at TOKEN2049, I will be speaking onstage. At that time, we will also publicly provide an update with substantive next steps, including:
- An announcement of new MANTRA ecosystem developments and enhanced governance protocols
- Updates and status regarding the execution of the burn of my OM holdings
- A call to action for the crypto industry to work together to protect investors from these kinds of liquidation events
This has been humbling. And heartbreaking. We need to take a moment to regroup and make sound decisions. I promise that our team won't rest until we've made this right.
I'm listening. I hear your concerns. And I'm committed to leading us through this challenging moment with total transparency. Our team has barely slept, and I want to thank them for their enormous dedication.
More updates to follow.
JPM
🫡🕉️
Here are some key updates in the crypto market:
## Recent Price Movements
- *Bitcoin (BTC)*: Surpassed $94,000, wiping out 166,000+ traders with a 10.2% increase against the US dollar. It's now ranked 5th among global assets, surpassing Google.
- *Litecoin*: Shows signs of a potential market rally with a rise in UTXOs, indicating increased investor activity.
- *XRP*: Outpaced altcoins against Bitcoin, with predictions of a potential rise to $3.20 if bullish indicators are confirmed.
- *TRUMP Token*: Saw a surge in buying activity after President Trump's gala invite, with one whale purchasing 278,196 tokens.
## Market Trends
- *Institutional Investment*: Bitcoin Spot ETFs recorded $963.55 million in inflows, with BlackRock and Fidelity fueling massive ETF inflows.
- *Derivatives Market*: Bitcoin derivatives saw 57,000 BTC inflows, with a rise in open interest signaling a market rally.
- *Whale Activity*: A Bitcoin whale transferred 800 BTC worth $74 million to Binance, while another whale ended a staking cycle with a $25 million loss.
## Other Developments
- *Metaplanet's Bitcoin Purchase*: Metaplanet surpassed 5,000 BTC after a $13.6 million purchase, advancing its 2025 target.
- *NFT Market*: CryptoPunks led NFT sales with $767,000, while Gaming NFTs showed strong engagement.
- *Regulatory Environment*: Countries are tightening crypto regulations, impacting investor sentiment and paving the way for long-term stability and adoption
#BinanceHODLerSIGN #EthereumFuture #BTCvsMarkets #USStockDrop #MarketRebound