Tate burns $37M of crypto

Author

The Triple Scoop
June 08, 2024

SCOOP’S TL;DR

📈 MARKET SENTIMENT - Bitcoin maintains a strong position above key levels despite recent price fluctuations. Market resistance levels are showing signs of weakening, hinting at potential bullish breakouts.

🗞️ TOP STORIES

  • Coinbase Smart Wallet

  • Robinhood Acquisition

  • VanEck Price Targets

🏆 WEEKLY WINNER - $MOTHER

💎 PREMIUM

  • Crypto Total Market Cap $2.78T - 24/hour change 1.2%

  • Crypto Market Cap Total Volume $73B - 24/hour Change -11%

  • Short and sweet round-up today Scoop family due to team travel, but none the less, this issue is packed with insights!

  • Bitcoin maintains a strong position above key levels despite recent price fluctuations.

  • Market resistance levels are showing signs of weakening, hinting at potential bullish breakouts.

  • Key factors like presidential elections and increasing BTC ETF inflow continue to fuel market optimism.

  • Ethereum is in a tight trading range, with resistance at $3,967 and supports at $3,645 and $3,485, influenced by broader market trends.

  • Solana faces short-term challenges, with a crucial support at $162 and resistance levels at $190 and $205.

TOP X POSTS

🔥 ANDREW TATE TAKES OVER CRYPTO TWITTER

HE IS THE META RIGHT NOW… BUT FOR HOW LONG?

Tate. Loved by some. Hated by Many.

This mini meta is moving at an alarming rate. In order to keep up, follow his X account. Cobra Tate.

  • Tokens $RNT + $TOPG were launched on Solana

  • Many more have since been launched of small Mcaps. (mainly rugs)

  • Tate received $TOPG tokens from community (48%) of supply

  • Tate proceeded to burn the tokens which amounted to $37 Million at the time of burn. Nothing short of crazy.

  • He then professed that he doesn’t need money!

  • $RNT token then started to boom, exceeding over $100M MCAP just last night.

  • The madness continues…

  • Tate is now teasing the market by shilling $ROOST on base which is up over 150% today alone.

  • What happens next, we don’t know, but the whole thing is wildly entertaining.

Andrew Tate Burns $10M Of New Meme Coin Top G ($TOPG) - Best Crypto To Buy Now?

Andrew Tate invited his followers to send him new meme coins, then burnt a large part of the circulating supply of new crypto 'Top G'.

cryptonews.com/news/andrew-tate-burns-10m-of-top-g-meme-coin.htm

Coinbase Smart Wallet - A New Future

At a glance 🔎

  • Coinbase is launching a smart wallet offering greater convenience by eliminating gas fees and recovery phrases.

  • Users can create and onboard a new wallet using Face ID, Google Chrome profile, fingerprint ID, or Yubikey, without downloading a new app.

  • The wallet allows self-custody, and payments from Coinbase Wallet or account, and developers can waive gas fees through a paymaster.

  • Supporting multiple networks (Base, Ethereum, Optimism, Arbitrum, Polygon, Avalanche, BNB Chain, Zora), the wallet will be free for users and developers.

🕵️ Scoops take: 

What we love about this is the new wallet ditches those pesky gas fees and forgettable recovery phrases because who needs extra stress, right?

It’s perfect for onboarding new users as creating a wallet is as easy as showing your face, scanning your finger, or convincing a web page that you're not a robot.

The companion web app lets you manage assets and check transaction history, all while feeling like a blockchain wizard. With support for a slew of networks, including Ethereum and Avalanche, it's like getting VIP access to the crypto club, and best of all, it's free!

Robinhood Acquisition - Worldwide Expansion

At a glance 🔎

  • Robinhood plans to acquire Bitstamp for $200 million, with the deal expected to close in the first half of 2025, pending regulatory approvals.

  • This acquisition aims to expand Robinhood's reach outside the U.S. and integrate Bitstamp's retail and institutional crypto customers in the EU, UK, U.S., and Asia.

  • Bitstamp, the oldest running crypto exchange, brings over 85 tradable assets and additional services like staking and lending, enhancing Robinhood's crypto offerings.

🕵️ Scoops take: 

The love story no one knew that we needed.

With this acquisition and Robinhood expanding beyond the U.S., bringing Bitstamp's loyal crypto fans with them turns them into a global phenomenon.

The increase in competition will only be healthy for the future.

Fierce rivals Coinbase continue the push outside of North America and will no doubt be looking on in envy.

PNG. Line Break - Triple Scoop

VanEck Reveal Price Targets - Prime Pension Planning

At a glance 🔎

  • The Investment Management firm has set out its 2030 price targets for Ethereum.

  • The 3 cases used for the targets were Bear, Base and Bull.

  • Bear target is $360, Base $22,000 and Bull $154,000

  • The valuation justification was down to $66bn in free cashflows and $15 Trillion TAM potential.

🕵️Scoop’s take:

With ETH being up this year by around 63% to $3833, we will happily settle with the Base prediction for now.

Ethereum is planning a supersonic boom in the financial world. They’re betting on Spot Ether ETFs getting approved soon, so financial advisors can finally join the crypto rave with all the ETF perks and none of the FOMO.

The huge pull for global adoption is how easy it is to start investing simply in the market of Eth, Bitcoin, Sol, etc.

We don’t want to scare the newbies with the meme craze just yet.

🏆 WEEKLY WINNER🏆

$MOTHER

There is nothing else it could be this week.

With risk comes reward and any of our readers who got involved last week when we shared the marketcap at $6m will be laughing all the way to the bank.

The coin has broken multiple ATHs over the week reaching a market cap of over $210m

Well done to Iggy and the team.

Feast your eyes on the delights, surprises & Alpha below.

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