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<h1>Coq Inu (COQ): The Trending Avalanche Meme Coin of 2024</h1><h2>Key Takeaways</h2><ul><li>Coq Inu (COQ) is a rooster themed meme coin that launched on the Avalanche blockchain in December 2023.</li><li>It has a total supply of 69.420 trillion tokens, with no presale or fixed allocations for investors.&nbsp;</li><li>Like most meme coins, COQ has no utility beyond its status as a meme, and is a purely speculative asset.</li></ul><h2>What Is Coq Inu (COQ)?</h2>Coq Inu (COQ) is a meme coin, designed around the theme of a rooster and named after the French word for rooster, "Coq." Launched on the Avalanche blockchain on December 7, 2023, it has since surged in value, emerging as one of the most prominent meme coins in 2024, captivating the attention of the cryptocurrency community.&nbsp;<h2>How Does Coq Inu (COQ) Work?</h2>Coq Inu (COQ) runs on the Avalanche C-Chain and has quickly risen to prominence as one of the leading meme coins in this ecosystem. Unlike many cryptocurrencies that are developed to address specific financial or technological challenges, Coq Inu is designed purely for its meme appeal, lacking functional utility or intrinsic value.&nbsp;COQ is uniquely community-driven, with no allocations for founders, no presales, and imposed taxes. The team has committed to a decentralised vision by fully renouncing control over its contract and locking its liquidity permanently, ensuring fairness and transparency in its operations.<h3>Coq Inu (COQ) Tokenomics&nbsp;</h3>Like many meme coins, COQ’s tokenomics feature a playful nod to popular numeric jokes, with a fixed total supply of approximately 69.42 trillion coins. These tokens were made fully available at the time of launch, with no presale or pre-allocations to investors.&nbsp;<h2>Why is Coq Inu (COQ) so Popular?</h2>COQ has surged in popularity primarily due to its engaging and viral nature, a hallmark of meme-driven cryptocurrencies. Drawing inspiration from a French rooster and the Japanese word 'Inu', meaning dog, COQ plays into the successful trend set by other dog-themed meme coins like <a href="https://coinstash.com.au/shib/buy" rel="noopener noreferrer" target="_blank">Shiba Inu</a>. These coins capture the fascination of enthusiastic online communities and often offer a low cost of entry, making them particularly attractive despite their volatile and speculative nature.&nbsp;COQ’s launch in late 2023 was well-timed, coinciding with a bullish turn in the crypto market. This timing, combined with a surge in value shortly after its release, fueled extensive media coverage and social media buzz. Stories of traders turning modest investments into significant gains further fueled interest, propelling the token's price upward. The ongoing attention and discussion surrounding COQ by influential crypto personalities have kept it in the spotlight, sustaining its popularity well beyond its initial surge.<h2>How to Buy COQ Inu (COQ) With Coinstash</h2>Buying <a href="https://coinstash.com.au/coq/buy" rel="noopener noreferrer" target="_blank">COQ</a> with Coinstash is easy and safe. Simply <a href="https://coinstash.com.au/auth/signup" rel="noopener noreferrer" target="_blank">create your Coinstash account</a> for free and verify your personal details in just a few minutes.&nbsp;Once registered, log into your account, deposit funds using one of our various deposit methods, and then you're ready to make your first COQ purchase.<h2>Should You Buy Coq Inu (COQ)?</h2>COQ has quickly become a prominent meme coin within the Avalanche (AVAX) ecosystem, experiencing a price increase of over 6,000% in just a few months. This remarkable growth underscores its popularity in the crypto space. However, it’s crucial to recognise that COQ is a highly speculative asset with no inherent value.The appeal of meme coins like COQ often comes from their potential for high returns, but these assets are also prone to significant volatile price fluctuations. While the possibility of substantial profits can be attractive, the risk of sudden financial losses is equally real. Investors should approach meme coins with caution, only investing what they are willing to lose.&nbsp;<h2>Closing Thoughts</h2>As the cryptocurrency landscape continues to evolve, meme coins like Coq Inu will remain a fascinating phenomenon to watch. While they offer an interesting blend of humor and investment potential, it's crucial for investors to approach these assets with caution and conduct thorough research before participating in the meme coin market. <h2>Frequently Asked Questions</h2>

CompactFAQ

Disclaimer: This article and its contents are intended for informational purposes only, and do not constitute financial advice from TWMT Pty Ltd, trading as Coinstash AU ("Coinstash"). Coinstash is not a licensed financial advisor and does not provide financial advice. You should consider seeking financial, legal, tax or other professional advice to check how the information relates to your unique circumstances. Coinstash shall not be held responsible or liable for any losses, whether due to negligence or otherwise, stemming from the use of, or reliance upon, the information provided directly or indirectly in this article.

What is Coq Inu (COQ) Meme Coin?

Welcome to the 32nd edition of the Crypto Chronicle, brought to you by <a href="https://imperialwealth.com/consultation/crypto/coinstash" rel="noopener noreferrer" target="_blank">Imperial Wealth</a>.You can listen to todays episode <a href="https://open.spotify.com/episode/1vGtZBZipyFFoXmfZzjDdd?si=hBo9YcFXRHKoyRlkzQMmYw" rel="noopener noreferrer" target="_blank">here</a><a href="https://open.spotify.com/episode/0b39ruuit7QjyYV999i7xq?si=xHOfeQv-TH6UV2Y0Zg4oag" rel="noopener noreferrer" target="_blank">.</a><h2>News</h2><h3>March Sees Spot Bitcoin ETF Trading Volume Surge to $111 Billion</h3>In March, spot Bitcoin exchange-traded funds (ETFs) witnessed a remarkable surge in trading volume, reaching $111 billion, nearly tripling the volume from February, with Grayscale and BlackRock ETFs leading the market.&nbsp;BlackRock’s Bitcoin ETF, IBIT, remained dominant in trading volume, while Grayscale’s GBTC and Fidelity’s FBTC closely followed.&nbsp;Bloomberg ETF analyst Eric Balchunas highlighted IBIT’s increasing dominance over GBTC in market share. However, despite profitable hits, IBIT’s lead in volume solidified its position as the “GLD of Bitcoin.”&nbsp;On April 1, Farside Investors reported cumulative net outflows of $86 million for spot Bitcoin ETFs, with IBIT experiencing inflows of $165.9 million, overshadowed by Grayscale’s $302.6 million outflows. Additionally, Fidelity’s FBTC saw significant inflows of $44 million on the same day.&nbsp;Despite these trends, Grayscale’s GBTC has faced substantial outflows, with assets under management declining by 46% to $22 billion according to Coinglass data.Read more here:&nbsp;<a href="https://imperialwealth.com/news/march-sees-spot-bitcoin-etf-trading-volume-surge-to-111-billion" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/march-sees-spot-bitcoin-etf-trading-volume-surge-to-111-billion</a><h3>DOJ Transfers $2 Billion in Seized Silk Road Bitcoin to New Wallet</h3>Around $2 billion worth of Bitcoin, seized by the US authorities from the Silk Road marketplace, was recently moved to a new address.&nbsp;Associated with the US Justice Department, the wallet performed a transaction of 0.001 BTC to a Coinbase Prime address before transferring 30,174 BTC to the new location.&nbsp;These coins were seized from James Zhong, convicted for his involvement in Silk Road’s illicit activities. In March 2023, US authorities sold approximately 9,861 BTC for $215 million, leaving about 40,000 BTC.&nbsp;This transfer coincided with a 7% drop in Bitcoin’s value.&nbsp;The Silk Road platform, notorious for illegal trade, led to the imprisonment of its founder, Ross Ulbricht, in 2013.&nbsp;The strategy for selling the remaining BTC remains undisclosed.Read more here:&nbsp;<a href="https://imperialwealth.com/news/doj-transfers-2-billion-in-seized-silk-road-bitcoin-to-new-wallet" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/doj-transfers-2-billion-in-seized-silk-road-bitcoin-to-new-wallet</a><h3>Morgan Stanley Aims to Outpace UBS in the Race to Become the Premier Bitcoin ETF Provide</h3>The emergence of spot Bitcoin exchange-traded funds (ETFs) in the US has sparked competition among investment banks, with Morgan Stanley aiming to lead ahead of UBS.&nbsp;Crypto enthusiast Andrew reported that Morgan Stanley may announce Bitcoin ETF approval soon.&nbsp;Eric Balchunas from Bloomberg noted neither Morgan Stanley nor UBS has integrated Bitcoin ETFs yet.&nbsp;Both banks seem to wait for the other to act first. Andrew mentioned UBS plans to introduce Bitcoin ETFs between April 8 and April 12.&nbsp;This speculation follows reports of Morgan Stanley’s impending approval of Bitcoin ETFs. Despite hurdles, traditional finance (TradFi) appears to embrace Bitcoin.Read more here:&nbsp;<a href="https://imperialwealth.com/news/https-imperialwealth-com-news-morgan-stanley-aims-to-outpace-ubs-in-the-race-to-become-the-premier-bitcoin-etf-provide" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/https-imperialwealth-com-news-morgan-stanley-aims-to-outpace-ubs-in-the-race-to-become-the-premier-bitcoin-etf-provide</a><h3>Ripple Set to Introduce Stablecoin Tied to US Dollar, Targeting Competition Against USDT and USDC</h3>Ripple plans to introduce a USD-backed stablecoin to compete with Circle and Tether, aiming to tap into the growing market projected to exceed $2 trillion by 2028.&nbsp;Chief Technology Officer David Schwartz disclosed the stablecoin’s issuance on the XRP Ledger and Ethereum blockchain, emphasising transparency in asset backing and regulatory compliance, echoing USDC’s approach.&nbsp;Schwartz highlighted Ripple’s intention to prioritise market share over risky manoeuvres.&nbsp;Auditing of reserve assets will be performed monthly. Leveraging its credibility, Ripple aims to establish a significant presence in the stablecoin sector.&nbsp;The stablecoin complements Ripple’s existing offerings, enhancing liquidity and capitalising on market opportunities.Read more here:&nbsp;<a href="https://imperialwealth.com/news/ripple-set-to-introduce-stablecoin-tied-to-us-dollar-targeting-competition-against-usdt-and-usdc" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/ripple-set-to-introduce-stablecoin-tied-to-us-dollar-targeting-competition-against-usdt-and-usdc</a><h3>CEO of Australian Monochrome Anticipates the Launch of an Australian Spot Bitcoin ETF Within the Next Two Months</h3>Monochrome, an Australian asset manager, plans to launch its primary spot Bitcoin ETF on Cboe Australia after filing in July 2023.&nbsp;If approved, it would be Australia’s first ETF to directly hold Bitcoin. While two existing ETPs on Cboe Australia offer exposure to spot crypto assets, they don’t hold Bitcoin.&nbsp;Monochrome gained ASIC approval and expects Cboe to approve its application by June. Initially slated for ASX, Monochrome CEO Jeff Yew believes Cboe aligns better with their goals.&nbsp;The move follows the U.S. SEC’s approval of 11 spot BTC ETFs, sparking global interest in similar products.Read more here:&nbsp;<a href="https://imperialwealth.com/news/ceo-of-australian-monochrome-anticipates-the-launch-of-an-australian-spot-bitcoin-etf-within-the-next-two-months" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/ceo-of-australian-monochrome-anticipates-the-launch-of-an-australian-spot-bitcoin-etf-within-the-next-two-months</a><h3>BlackRock Enhances Bitcoin ETF with Addition of Five Wall Street Firms</h3>BlackRock updated its Bitcoin ETF prospectus on April 5, adding five major Wall Street firms as authorized participants.&nbsp;These include ABN AMRO Clearing, Citadel Securities, Citigroup Global Markets, Goldman Sachs, and UBS Securities.&nbsp;The Securities and Exchange Commission’s stance on cash creation and redemption aims to curb market manipulation risks. This mechanism, adopted by BlackRock and others, allows ETF shares to be created or redeemed solely through cash transactions, deviating from the traditional in-kind model.&nbsp;The move seeks to prevent intraday price manipulation and aligns with recommendations from industry leaders like Hashdex.&nbsp;Despite a surge in March trading volume to $111 billion, some reports suggest cooling demand for Bitcoin ETFs. BlackRock’s iShares Bitcoin Trust remains dominant in both trading volume and assets under management, followed by Grayscale and Fidelity’s funds. As of April 1, BlackRock’s IBIT assets totalled $17.6 billion.Read more here:&nbsp;<a href="https://imperialwealth.com/news/blackrock-enhances-bitcoin-etf-with-addition-of-five-wall-street-firms" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/blackrock-enhances-bitcoin-etf-with-addition-of-five-wall-street-firms</a><h3>SEC Case Finds Terraform Labs and Do Kwon Guilty of Fraud</h3>A jury found Terraform Labs and co-founder Do Kwon liable for defrauding investors in a civil case with the SEC.&nbsp;The verdict, announced by SEC Enforcement Director Gurbir Grewal on April 5, held them accountable for deceiving investors about the stability of Terra USD and the platform’s payment application.&nbsp;The SEC trial began on March 25, with Kwon absent due to his stay in Montenegro. The jury also found Terraform guilty on six charges, describing its conduct as “reckless.”&nbsp;The outcome may impact crypto firms.&nbsp;Meanwhile, Kwon’s extradition remains uncertain following a decision by Montenegro’s Supreme Court, facing criminal charges in both the U.S. and South Korea.Read more here:&nbsp;<a href="https://imperialwealth.com/news/sec-case-finds-terraform-labs-and-do-kwon-guilty-of-fraud" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/sec-case-finds-terraform-labs-and-do-kwon-guilty-of-fraud</a><h3>In March, Binance’s Trading Volumes Peak for the Year, Reaching $1.12 Trillion</h3>Binance’s spot trading volume surged to its highest level since May 2021, hitting $1.12 trillion in March, with a 121% rise reported by CCData.&nbsp;The exchange’s combined market share reached 44.1%, up 1.04% from the previous month. CCData highlighted Binance’s recovery post a $4.3 billion settlement with the US DOJ, noting an 89.7% spike in derivatives trading to $2.91 trillion.&nbsp;Binance’s dominance in spot markets increased by 2.3%, reaching 38.0% of spot trading volumes on centralized exchanges (CEXs).&nbsp;The overall trading volume on CEXs surged by 92.9% to $9.12 trillion, with cryptocurrency derivatives reaching $6.18 trillion.&nbsp;This surge coincided with Bitcoin’s rally towards new all-time highs, reflecting growing investor interest despite regulatory challenges and setbacks faced by exchanges like FTX.Read more here:&nbsp;<a href="https://imperialwealth.com/news/in-march-binances-trading-volumes-peak-for-the-year-reaching-1-12-trillion" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/in-march-binances-trading-volumes-peak-for-the-year-reaching-1-12-trillion</a><h2>Technical Analysis</h2>Last week when the Chronicle was released saw a dump from $69k to $66k with important points stressed.The main being – that $65k was our most integral line of support until far lower (&lt; $59k).“In any case, the first level of support that interests me is still the Golden Pocket at $65,000/USD.Under that comes $59k and then $48-$50k as shown in prior weeks.”It is that exact structural level we found support/demand and have bounced from just briefly below $65k, and have pumped to as high as almost $73k overnight.A reminder of this chart here:<a href="https://d3vyioym9096bm.cloudfront.net/uploads/2024/04/02163229/BTCUSD.P_2024-04-02_17-32-17_9ac65.png" rel="noopener noreferrer" target="_blank"><img src="https://d3vyioym9096bm.cloudfront.net/uploads/2024/04/02163229/BTCUSD.P_2024-04-02_17-32-17_9ac65.png"></a>And now the updated.Please see the chart below:<a href="https://d3vyioym9096bm.cloudfront.net/uploads/2024/04/09165110/BTCUSD.P_2024-04-09_16-50-56_855f4.png" rel="noopener noreferrer" target="_blank"><img src="https://d3vyioym9096bm.cloudfront.net/uploads/2024/04/09165110/BTCUSD.P_2024-04-09_16-50-56_855f4.png"></a>Picture perfect, huh? Pays to do the analysis.Also pays to have conviction in the TA, whilst understanding that most of the market become scared at support, expect lower, and usually the opposite happens.As a result, were able to grab two buys in the market last week for the&nbsp;<a href="https://imperialwealth.com/crypto/trading/trading-academy" rel="noopener noreferrer" target="_blank">Trading Academy.&nbsp;</a>We now seek higher targets for now. A break below $65k would present bearishness, but for now, I have my eyes set on ATHs, $75-$77k and $82k.Please see the chart below:<a href="https://d3vyioym9096bm.cloudfront.net/uploads/2024/04/09170542/BTCUSD.P_2024-04-09_17-05-31_cde74.png" rel="noopener noreferrer" target="_blank"><img src="https://d3vyioym9096bm.cloudfront.net/uploads/2024/04/09170542/BTCUSD.P_2024-04-09_17-05-31_cde74.png"></a>Let’s wait and see! For now we are rejecting under the daily candle highs.I would like to see $69.3k hold for now, but I am expecting higher targets to come, including Fresh All Time Highs.That $69.3k support is the range golden pocket – and obviously represents our prior 2021 ATH.If this is a bullish move, if we retrace to that level, I want it to hold – $66-$67k should be support under that if its lost.Irrespective, as a result of recent bullish movements… Our Day Traders continue to kill it.Here is an excerpt from our&nbsp;<a href="https://imperialwealth.com/crypto/trading-education/crypto-day-trading-course" rel="noopener noreferrer" target="_blank">Day Trading Course</a>&nbsp;Discord:<a href="https://d3vyioym9096bm.cloudfront.net/uploads/2024/04/09165931/Screenshot-2024-04-09-165846.png" rel="noopener noreferrer" target="_blank"><img src="https://d3vyioym9096bm.cloudfront.net/uploads/2024/04/09165931/Screenshot-2024-04-09-165846.png"></a>That is the conviction you require against the rest of the market to nail it.<a href="https://d3vyioym9096bm.cloudfront.net/uploads/2024/04/09171730/Screenshot-2024-04-09-171709.png" rel="noopener noreferrer" target="_blank"><img src="https://d3vyioym9096bm.cloudfront.net/uploads/2024/04/09171730/Screenshot-2024-04-09-171709.png"></a>And our students nailed it!<h2>Cryptocurrency Mining</h2>Bitcoin continues to improve its hashrate sitting at 646EH with block rewards sitting at around 6.5 on average leading into the halving.We are seeing a stabilisation of metrics which is common leading into the halving as people are sitting firm and deployment delays across the industry due to machine manufacturer delays.We did a small drop in network difficulty which has been welcome.Around the grounds:Doge continues to see a drop in hashrate which saw a 14% drop.Along with LTC doing a smaller 6% drop seeing the Scrypt algo getting some nice rewards. This has seen L7s shoot to above $10,000 for new machines.Kaspa continues to rise in difficulty and hashrate due to the new KS5 and newer machines from Iceriver etc. Seeing a 5% jump in hashrate.Dash remains stable with a smaller drop of 4% in network hashrate.CKB is the standout with a 75% price jump with minimal drop in hash or rise.That’s it for this weeks edition, stay tuned for next weeks!Thanks!

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Crypto Chronicle - 10/04/24

Welcome to the 31st edition of the Crypto Chronicle, brought to you by <a href="https://imperialwealth.com/consultation/crypto/coinstash" rel="noopener noreferrer" target="_blank">Imperial Wealth</a>.You can listen to todays episode <a href="https://open.spotify.com/episode/5YSLDn6xktP9SZJ8EEEObW?si=UCqhMoB0S8ev6NVgVAGUvA" rel="noopener noreferrer" target="_blank">here</a><a href="https://open.spotify.com/episode/0b39ruuit7QjyYV999i7xq?si=xHOfeQv-TH6UV2Y0Zg4oag" rel="noopener noreferrer" target="_blank">.</a><h2>News</h2><h3>BlackRock CEO, Larry Fink, ‘Very Bullish’ on Bitcoin as ETF Surpasses $17 Billion</h3>BlackRock CEO Larry Fink expressed satisfaction with the rapid growth of the iShares Bitcoin Trust (IBIT), calling it the fastest-growing ETF in history.&nbsp;IBIT amassed $13.5 billion within 11 weeks, exceeding expectations. Fink praised the liquidity and transparency of the Bitcoin market, reaffirming his bullish outlook on Bitcoin’s long-term viability.&nbsp;Meanwhile, concerns loom over smaller ETF providers’ profitability amidst fierce competition. Hashdex became the 11th entrant into the spot Bitcoin ETF market on March 27.Read more here:&nbsp;<a href="https://imperialwealth.com/news/blackrock-ceo-larry-fink-very-bullish-on-bitcoin-as-etf-surpasses-17-billion" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/blackrock-ceo-larry-fink-very-bullish-on-bitcoin-as-etf-surpasses-17-billion</a><h3>Sam Bankman-Fried Receives 25-Year Prison Sentence</h3>Former FTX CEO Sam Bankman-Fried has been sentenced to 25 years in federal prison for seven felony charges, following a hearing by Judge Lewis Kaplan in New York.&nbsp;The sentence includes time served and an $11 billion judgment. Despite Bankman-Fried’s apology, the judge emphasized the severity of the crimes. Witnesses recounted losses and criticised Bankman-Fried’s lack of accountability.&nbsp;The verdict, falling between defence and prosecution recommendations, surprised many. Other FTX associates have pleaded guilty, with Ryan Salame&nbsp;next for sentencing.Read more here:&nbsp;<a href="https://imperialwealth.com/news/sam-bankman-fried-receives-25-year-prison-sentence" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/sam-bankman-fried-receives-25-year-prison-sentence</a><h3>Bitwise Submits SEC Application for Spot Ethereum ETF Listing</h3>Bitwise has applied to the SEC for a spot Ethereum ETF, filing on March 28. The timing coincides with debates over Ether’s classification as a security, which could impact future ETF approvals.&nbsp;Bitwise intends to list the ETH ETF on NYSE Arca, following its SEC approval for a spot Bitcoin ETF in January. The SEC’s deadline for the latest round of Ethereum ETF applications is May 23, with VanEck leading.&nbsp;While optimism initially prevailed for 2023 approvals, concerns linger for potential rejections extending into 2024.&nbsp;Companies like Fidelity, Hashdex, and ARK 21Shares await SEC decisions, as the agency began approving Ethereum futures-based investment products in October 2023.Read more here:&nbsp;<a href="https://imperialwealth.com/news/bitwise-submits-sec-application-for-spot-ethereum-etf-listing" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/bitwise-submits-sec-application-for-spot-ethereum-etf-listing</a><h3>Bitcoin Exchanges Witness Nearly $10 Billion Decline in BTC Balances During 2024</h3>Since the introduction of US spot exchange-traded funds (ETFs), Bitcoin exchanges have seen nearly $10 billion worth of BTC withdrawn, with over 136,000 BTC leaving since January 11.&nbsp;<a href="https://d3vyioym9096bm.cloudfront.net/uploads/2024/04/02130048/7225c386-3f66-4f5d-a33d-ce708b07f551.webp" rel="noopener noreferrer" target="_blank"><img src="https://d3vyioym9096bm.cloudfront.net/uploads/2024/04/02130048/7225c386-3f66-4f5d-a33d-ce708b07f551.webp"></a>This bullish trend includes mass withdrawals this quarter, despite ETFs trading for less than three months. Glassnode data reveals a combined BTC balance at its lowest since April 2018, with over 22,000 BTC withdrawn on March 27 alone.&nbsp;Market analysts predict a supply squeeze as ETF purchases outpace daily mined BTC.&nbsp;Charles Edwards anticipates significant institutional demand post upcoming block subsidy halving in April, marking a pivotal moment for Bitcoin’s value.Read more here:<a href="https://t.co/b5uFT8AJd8" rel="noopener noreferrer" target="_blank">&nbsp;https://imperialwealth.com/news/bitcoin-exchanges-witness-nearly-10-billion-decline-in-btc-balances-during-2024</a><h3>Base Achieves All-Time High DEX Volume, Exceeding $1 Billion</h3>During 2024 Coinbase’s Ethereum layer-2 solution, Base, shattered DEX trading volume records, surpassing $1 billion on March 30.<a href="https://d3vyioym9096bm.cloudfront.net/uploads/2024/04/02155232/8ca6baa2-73b7-4aae-b9d7-11312bdb5f61.webp" rel="noopener noreferrer" target="_blank"><img src="https://d3vyioym9096bm.cloudfront.net/uploads/2024/04/02155232/8ca6baa2-73b7-4aae-b9d7-11312bdb5f61.webp"></a>The volume spiked 25% from the previous day, totalling $1.21 billion, with UniSwap dominating at 64.3%. Concurrently, daily active users surged by 12.4% to 172,000, with an average of 667,765 weekly users over six weeks.Base’s growth sparks speculation within the crypto community, with predictions of becoming a hub for meme coins.Trader Wizard of SoHo sees Base as an “early Solana,” envisioning billion-dollar meme coins.Base contributor Jesse Pollak’s survey suggests it could become the largest non-Ethereum on-chain economy within three to twelve months.Read more here:&nbsp;<a href="https://imperialwealth.com/news/base-achieves-all-time-high-dex-volume-exceeding-1-billion" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/base-achieves-all-time-high-dex-volume-exceeding-1-billion</a><h2>Technical Analysis</h2>Despite the dumping this morning from $69,000 to $66,000 – Bitcoin has held trend.Please see the chart below:<a href="https://d3vyioym9096bm.cloudfront.net/uploads/2024/04/02163102/BTCUSD_2024-04-02_17-28-58_47882.png" rel="noopener noreferrer" target="_blank"><img src="https://d3vyioym9096bm.cloudfront.net/uploads/2024/04/02163102/BTCUSD_2024-04-02_17-28-58_47882.png"></a>As you can see, it continues to hold that trend beginning in February, bullish.In any case, the first level of support that interests me is still the Golden Pocket at $65,000/USD.Please see the chart below:<a href="https://d3vyioym9096bm.cloudfront.net/uploads/2024/04/02163229/BTCUSD.P_2024-04-02_17-32-17_9ac65.png" rel="noopener noreferrer" target="_blank"><img src="https://d3vyioym9096bm.cloudfront.net/uploads/2024/04/02163229/BTCUSD.P_2024-04-02_17-32-17_9ac65.png"></a>Under that comes $59k and then $48-$50k as shown in prior weeks.These are the levels I will plan my buying around!Resistance at the moment is $75-77,000/USD with the charts 123.7% extension coming in around $82k.These are major upside targets.As discussed in the Podcast at length, in the Trading Academy we employ new buys/dollar cost averaging to mitigate risk in the market and improve our profits.We will be dollar-cost-averaging this week and next and getting some new buys out.We’ll be back next week.Thanks!

Crypto Chronicle - 02/04/24

Welcome to the 30th edition of the Crypto Chronicle, brought to you by <a href="https://imperialwealth.com/consultation/crypto/coinstash" rel="noopener noreferrer" target="_blank">Imperial Wealth</a>.You can listen to todays episode <a href="https://open.spotify.com/episode/0b39ruuit7QjyYV999i7xq?si=xHOfeQv-TH6UV2Y0Zg4oag" rel="noopener noreferrer" target="_blank">here.</a><h2>News</h2><h3>BlackRock Initiates Asset Tokenisation Through Debut of Digital Liquidity Fund</h3>BlackRock, the world’s largest asset manager, has introduced asset tokenisation with the launch of its Digital Liquidity Fund, marking a significant step in the realm of digital assets.&nbsp;This move underscores BlackRock’s recognition of the growing importance of blockchain technology and its potential to revolutionise traditional finance.&nbsp;The fund, which operates on the Ethereum blockchain, aims to enhance liquidity and accessibility for institutional investors.&nbsp;By leveraging blockchain technology, BlackRock aims to streamline processes and unlock new opportunities in the asset management landscape.Read more here:<a href="https://t.co/Q3725PKcVE" rel="noopener noreferrer" target="_blank">&nbsp;https://imperialwealth.com/news/blackrock-initiates-asset-tokenisation-through-debut-of-digital-liquidity-fund</a><h3>SEC Extends Deadline for VanEck’s Spot Ethereum ETF Application</h3>The SEC postponed its decision on VanEck’s spot Ethereum ETF application, extending the review period until May 23.&nbsp;This follows the extension of deadlines for other Ether ETFs. Speculation suggests future Ether ETF applications could face rejection.&nbsp;Reports indicate the SEC is investigating companies linked to the Ethereum Foundation, raising doubts about ETH ETF approvals.&nbsp;Despite approving Ether futures products, the SEC is delaying spot Ether ETF decisions, opening them to public comments.&nbsp;Senators urge SEC Chair Gary Gensler to reject Ether ETFs due to potential risks for retail investors, following the approval of spot Bitcoin ETFs in January.Read more here:<a href="https://t.co/EYtndrCV74" rel="noopener noreferrer" target="_blank">&nbsp;https://imperialwealth.com/news/sec-extends-deadline-for-vanecks-spot-ethereum-etf-application</a><h3>Report: SEC Seeking to Classify Ether as a Security</h3>The SEC has reportedly subpoenaed multiple companies regarding efforts to classify Ether as a security, potentially leading to regulatory action.&nbsp;An investigation into the Ethereum Foundation by the SEC might grant it authority over Ether’s classification.&nbsp;U.S. firms received subpoenas related to transactions with the Foundation. SEC Chair Gary Gensler hasn’t directly addressed Ether’s status, despite previous statements.&nbsp;Prometheum’s plan to offer Ether custody services has intensified pressure on the SEC. Regulation of Ether may conflict with the U.S. Commodity Futures Trading Commission, with lawmakers yet to clarify roles.Read more here:<a href="https://t.co/ptS6SwzMO3" rel="noopener noreferrer" target="_blank">&nbsp;https://imperialwealth.com/news/report-sec-seeking-to-classify-ether-as-a-security</a><h3>Ethereum’s Dencun Upgrade Reduces Transaction Costs for Layer 2 Solutions</h3>Dencun, Ethereum’s recent upgrade, shows promising early results by aiming for faster and cheaper transactions via layer 2 solutions like Arbitrum and Optimism.&nbsp;Brian Gallagher underscores its timely launch amidst rising competition from chains like Solana.&nbsp;Despite Ethereum’s historical scaling challenges and past upgrades like the Merge, which transitioned to proof-of-stake, transaction fees remain a concern.&nbsp;Dencun’s focus on layer 2 interactions seems effective, with transaction costs significantly reduced.&nbsp;Encouragingly, platforms like Arbitrum and Optimism report substantial transaction volume increases.&nbsp;Gallagher stresses the importance of Dencun’s long-term impact on DeFi.&nbsp;While challenges remain, Ethereum’s upgrade signals a positive shift in the market.Read more here:<a href="https://t.co/cyuONJ9sgB" rel="noopener noreferrer" target="_blank">&nbsp;https://imperialwealth.com/news/ethereums-dencun-upgrade-reduces-transaction-costs-for-layer-2-solutions</a><h3>Hedge Fund Clients at Goldman Sachs Are Reentering Crypto Markets Strongly This Year</h3>Goldman Sachs has seen a resurgence in client interest in cryptocurrencies, driven by the endorsement of Bitcoin and the introduction of ETFs.&nbsp;Head of digital assets, Max Minton, reports that many prominent clients are entering or considering the crypto space, largely due to recent ETF approvals.&nbsp;Despite managing $2.8 trillion in assets, Goldman currently offers only crypto derivatives, not spot products.&nbsp;Clients, especially hedge funds, are using derivatives to navigate crypto volatility. Minton predicts increased interest in Ether if a spot ETF is approved.&nbsp;Goldman aims to expand its crypto services to a wider client base, including asset management funds and banks.Read more here:<a href="https://t.co/ouaFzp0Ib1" rel="noopener noreferrer" target="_blank">&nbsp;https://imperialwealth.com/news/hedge-fund-clients-at-goldman-sachs-are-reentering-crypto-markets-strongly-this-year</a><h3>Australian Corporate Regulator Developing Crypto Policies That Are ‘Outcome Based’</h3>ASIC is finalizing regulatory reforms for the cryptocurrency sector, aiming to balance consumer protection, market integrity, and financial innovation.&nbsp;Commissioner Alan Kirkland emphasized fostering responsible innovation while mitigating risks.&nbsp;The ASIC aims for clear rules to maintain market integrity, enforceable mechanisms, and effective enforcement. They’ve received proposals for regulating tokenization of real-world assets, intending to regulate through existing or proposed frameworks.The Treasury’s October 2023 consultation paper suggested crypto exchanges obtain a financial services license if holding over AU$5 million or AU$1,500 per individual. Responses varied, with the Treasury clarifying the paper seeks feedback on proposed regulations.Read more here:&nbsp;<a href="https://imperialwealth.com/news/australian-corporate-regulator-developing-crypto-policies-that-are-outcome-based" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/australian-corporate-regulator-developing-crypto-policies-that-are-outcome-based</a><h3>Collaborative Effort between Avalanche and Chainlink for On-Chain Asset Settlement in Australasia</h3>ANZ and Chainlink Labs unveiled outcomes of their recent partnership, focusing on connecting Avalanche and Ethereum blockchains for on-chain settlement solutions.&nbsp;Using Chainlink’s cross-chain interoperability protocol (CCIP), ANZ demonstrated seamless access, trading, and settlement of tokenised assets across various networks and currencies.&nbsp;The process involved acquiring tokenized assets on Ethereum and settling transactions on Avalanche, aligning with the “Delivery versus Payment (DvP)” principle.&nbsp;ANZ’s utilisation of its Evergreen Subnet showcases its commitment to blockchain innovation. ANZ aims to revolutionise conventional settlement procedures and extend blockchain solutions to its global clientele.&nbsp;The collaboration signifies the convergence of traditional finance and DeFi, with ANZ poised to deploy blockchain solutions on mainnets, alongside initiatives like Citigroup’s partnership with Ava Labs for tokenising private equity funds on Avalanche.Read more here:&nbsp;<a href="https://imperialwealth.com/news/collaborative-effort-between-avalanche-and-chainlink-for-on-chain-asset-settlement-in-australasia" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/collaborative-effort-between-avalanche-and-chainlink-for-on-chain-asset-settlement-in-australasia</a><h3>Bitcoin Aims For its First-Ever Seven-Month Winning Streak</h3>According to TradingView data, Bitcoin may see its seventh consecutive monthly green candle by March’s end, with the condition that it maintains a price above February’s closing value of $61,130.&nbsp;<a href="https://d3vyioym9096bm.cloudfront.net/uploads/2024/03/25135745/BTCUSD_2024-03-25_14-34-33_cbb90.png" rel="noopener noreferrer" target="_blank"><img src="https://d3vyioym9096bm.cloudfront.net/uploads/2024/03/25135745/BTCUSD_2024-03-25_14-34-33_cbb90.png"></a>This achievement would mark Bitcoin’s first seven-month uptrend.&nbsp;Previously, it showed six consecutive green candles from October 2020 to March 2021, rising by 445%.&nbsp;AllianceBlock’s Matthijs de Vries predicts potential price surges, especially with spot Bitcoin ETF inflows and nearing halving cycles.Amidst a significant sell-off by spot Bitcoin ETFs, investors remain resilient, as observed by Willy Woo, indicating continued confidence in Bitcoin.Read more here:&nbsp;<a href="https://imperialwealth.com/news/bitcoin-aims-for-its-first-ever-seven-month-winning-streak" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/bitcoin-aims-for-its-first-ever-seven-month-winning-streak</a><h2>Technical Analysis</h2>Last weeks TA theme was around planning for support levels around the blood that was occurring in the market, in which the very first level of roughly $60k was hit and we have bounced significantly.As I stated:“Ultimately, still remaining really positive. Regardless of any dump from here. As long as we don’t present bearish market structure by breaking our HTF bullish market structure, we are sweet in my eyes.We have pumped over 4-5x from the bottom and get scared of a -10%, -20% pullback? No, not here at IW.”And boom, we have pumped to over $70k after sitting briefly at $60k.Please see the chart below:<a href="https://d3vyioym9096bm.cloudfront.net/uploads/2024/03/26153526/BTCUSD_2024-03-26_16-35-16_49907.png" rel="noopener noreferrer" target="_blank"><img src="https://d3vyioym9096bm.cloudfront.net/uploads/2024/03/26153526/BTCUSD_2024-03-26_16-35-16_49907.png"></a>You can see we cleanly held trend and have continued to bounce as much as 17.5%.For now locally, we face a pivot high and the local .786 for resistance. If we clear this, I expect new ATHs to come.Please see the chart below:<a href="https://d3vyioym9096bm.cloudfront.net/uploads/2024/03/26154441/BTCUSD_2024-03-26_16-43-58_a86d2.png" rel="noopener noreferrer" target="_blank"><img src="https://d3vyioym9096bm.cloudfront.net/uploads/2024/03/26154441/BTCUSD_2024-03-26_16-43-58_a86d2.png"></a>That’s generally how I see things for now as I remain patient!We’ll be back next week.Thanks!

Crypto Chronicle - 27/03/24

We’re excited to share our new collection of backgrounds and wallpapers, exclusively crafted for the Coinstash Community.This collection features both desktop and mobile backgrounds, inspired by the colours of our newly updated brand.Choose your top picks from the collection below.Give them a try and snap a photo of your fresh new background in action. Tag us and include #CoinstashColours in your post. We're eager to see how you display your colors!<h2>Wallpaper Download Links </h2>

Coinstash Logo Wallpaper Purple Background with Laptop and Mobile View

Coinstash Purple Wallpaper: <a href="https://drive.google.com/file/d/1MMBTqPcuDOhqY63bDibW9N-mGjYqVx6_/view?usp=sharing" rel="noopener noreferrer" target="_blank" style="font-size: 16px;">DESKTOP</a> | <a href="https://drive.google.com/file/d/12r8ZoEO98q6B4xkNsWHBomRlsjttNI_r/view?usp=sharing" rel="noopener noreferrer" target="_blank" style="font-size: 16px;">MOBILE</a>

Coinstash Logo Wallpaper White Background with Laptop and Mobile View

Coinstash White Wallpaper: <a href="https://drive.google.com/file/d/1vVnIhJxyP4hC-W6J9LV9CCrZEdtdKfNV/view?usp=sharing" rel="noopener noreferrer" target="_blank" style="font-size: 16px;">DESKTOP</a> | <a href="https://drive.google.com/file/d/1DxPDtPtgm7djMFqxlITwb5whSomXFBRB/view?usp=sharing" rel="noopener noreferrer" target="_blank" style="font-size: 16px;">MOBILE</a>

Coinstash Logo Wallpaper Grey Background with Laptop and Mobile View

Coinstash Grey Wallpaper: <a href="https://drive.google.com/file/d/16oM6Fy9SmsulOSxKpmKBiv-c-40lF7T-/view?usp=sharing" rel="noopener noreferrer" target="_blank" style="font-size: 16px;">DESKTOP</a> | <a href="https://drive.google.com/file/d/11pad4aB8Efx_j2ef3jdYgBXIHXa6B2TS/view?usp=sharing" rel="noopener noreferrer" target="_blank" style="font-size: 16px;">MOBILE</a>

Coinstash Logo Wallpaper Black Background with Laptop and Mobile View

Coinstash Black Wallpaper: <a href="https://drive.google.com/file/d/1Tw7piANPqX0g5NTebK2Cp8-vAfUiM4sE/view?usp=sharing" rel="noopener noreferrer" target="_blank" style="font-size: 16px;">DESKTOP</a> | <a href="https://drive.google.com/file/d/1GaJdO5APUjoobY2nCz7Bmuz3dK1azSha/view?usp=sharing" rel="noopener noreferrer" target="_blank" style="font-size: 16px;">MOBILE</a>

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