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bobbyong
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Shouldn’t be surprised that alts are dumping all across the board. It’s the last day of May to execute “sell in May and go away”
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May's crypto aggregate is out. In May, we finally see ETH staging a rebound. Pectra upgrade took place and it has been good for ETH. The SEC also issued a statement stating that protocol staking does not involve the “offer and sale of securities”. Since late-April, Ethereum ETFs have experienced ~$1.5 billion in inflows. We also see many more public listed companies trying to replicate what Michael Saylor did with Strategy. For example, Consensys announced a $425 million into Nasdaq-listed SharpLink Gaming to hold ETH in its corporate strategy. As at end-May, Galaxy Digital estimates that there’s at least ~$12.7 billion in outstanding corporate debt used to finance bitcoin treasuries, of which Strategy accounted for ~$8 billion. Strategy’s market cap is currently trading at ~70% higher than the size of its Bitcoin treasury, while Japan’s Metaplanet (3350.T) market cap is ~5.7x larger than its Bitcoin holdings. Something for all of us to monitor is the mNAV metric and what happens when a company who has borrowed heavily sees their mNAV falls significantly below 1. For the full writeup, read it here:
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So many of you have told me that we MUST have multicharts on GeckoTerminal otherwise it's hard to degen and track multiple charts at once. Happy to say that we've listened to your feedback and rolled out multicharts. Have up to 16 charts on one screen! Share me your screens!
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ICYMI: We recently introduced our new mascots, Gekko and Rex, as part of CoinGecko’s first brand refresh. But we didn’t stop at a redesign. To help tell their story, we created an animated film. Here’s how it came together 👇
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Only in crypto do we see degenerate gamblers fumble $100m and claim that it is not a lot of money and that money isn’t real. There’s so many positive things you can do with $100m than to just max leverage trade and lose it all. Well at the very least he’s just losing his own money instead of other people’s money like SBF
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At our people manager training today and learned something new about effectively giving feedback. Never knew there was a feedback giving framework named COIN for Context - Observation - Impact - Next Steps. How apt for us to use at CoinGecko!
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