The Daily Leo #546
Alt Season and Wenare terms commonly used in the cryptocurrency community. Here's what they mean:
Welcome to The Daily Leo! We pull the best articles in Finance, Crypto news, and Hive/Leo into one condensed information-packed space. Be sure to follow @thedailyleo so you never miss the Daily LEO. You can also subscribe to the newsletter hereSubscribe to the Daily LEO** **
The Wealth Effect Is About To Kick In | XMR Delisting
The author, a seasoned cryptocurrency miner, discusses the "Wealth Effect," where Bitcoin and Ethereum investors, seeing stagnation in their assets, start shifting investments into altcoins. As Bitcoin consolidates with large holders accumulating and fewer people selling, the stage is set for an altcoin season.
This phase is expected to begin later this year or early next year, potentially leading to significant price increases in altcoins as the market transitions from consolidation to upward momentum
Stocks Soar While Crypto Sinks: Is the Tide About to Turn?
This post talks about the recent positive economic indicators like PPI and CPI, and how they have led to a recovery in the stock market, with companies like Nvidia performing well. However, the crypto market remains sluggish, particularly altcoins, which are currently dependent on Bitcoin's movements.
The post predicts increased volatility, especially if the U.S. dollar strengthens, and highlights gold's all-time high, contrasting with Bitcoin's underperformance. The author advises caution in crypto trading, suggesting it's better to build a strong portfolio for the next quarter.
This post discusses recent changes proposed by the Thorchain team, particularly by its founder JP, which are expected to positively impact the ecosystem and the price of RUNE. Key changes include an increase in swap fees, potentially replacing block rewards with swap fees for node operators, reducing inflation, and introducing a new RUNE burn mechanism.
The author expresses optimism about these developments, believing they will drive RUNE's price up, and shares their positive experience with the project, having invested early and profited significantly.
Binance is Back in India after 7 Months
The post discusses the unblocking of Binance, a major cryptocurrency exchange, in India after being restricted earlier in the year due to non-compliance with local regulations. The government has now allowed Binance to operate, making its website and app accessible again.
The author expresses happiness at being able to use Binance once more after seven months of inactivity, highlighting the reliability of the exchange and its positive impact on the Indian crypto community. The post also mentions expectations for Binance to add support for INR currency and comply with local tax regulations, marking a significant win for Indian users.
Alt Season (Altcoin Season)
Alt Season refers to a period in the cryptocurrency market when altcoins—cryptocurrencies other than Bitcoin—experience significant price increases. During this time, many altcoins tend to outperform Bitcoin in terms of percentage gains. Alt Season typically occurs when investors move their capital from Bitcoin into other cryptocurrencies, driving up the prices of these lesser-known coins. It’s often characterized by a surge in speculative trading and can be triggered by various factors, such as technological developments in specific altcoins, a slowdown in Bitcoin’s price growth, or broader trends in the crypto market.
Wen (When)
"Wen" is a playful, intentional misspelling of "when," often used in the crypto community. It's typically used to ask when a particular event will happen, especially in the context of price movements or updates from a project. For example, people might ask "Wen moon?" meaning "When will the price of this cryptocurrency skyrocket?" or "Wen Alt Season?" asking when the next Alt Season will occur. It’s a way of expressing impatience or excitement in the often unpredictable and fast-paced world of cryptocurrencies.