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- First Day On The Block 🫡
GM Brew Crew, it’s our first day out on the block. Birds are chirping, sun is shining, and a fresh morning roast is in the pot. Let’s dive in.
On the menu today:
$PEPE trending 🐸
Bittrex goes bust: files for bankruptcy in Delaware 🚨
Ordinals upend Bitcoin mining ⚒
Today’s Charts:
Snapshot taken 11:08am
Snapshot taken 11:08am
$PEPE trending 🐸
$PEPE peaks after Binance listing
$PEPE, a meme-inspired cryptocurrency, hit a market cap of $1 billion, making it one of the top performing cryptocurrencies in the market
$PEPE has gone up 200% in the past week and 3,292% over the past 30 days 🚀
Binance, one of the largest cryptocurrency trading platforms, listed $PEPE on their platform
$PEPE is part of a growing trend of meme-based cryptocurrencies that are created as a joke, but gain traction due to their loyal fan bases
The SmartMoney is the luckiest guy I've seen recently.
He spent 0.125 $ETH ($251) to buy 5.9T $PEPE ($1.14M currently) 4 days ago.
If he sells at the current price of $0.0000001933, he will get a profit of ~$1.14M, more than 4,500x.
etherscan.io/token/0x698250…
— Lookonchain (@lookonchain)
3:09 AM • Apr 19, 2023
Crypto.com chart shows $PEPE over the past month
Bittrex U.S. goes bust: files for bankruptcy in Delaware 🚨
The once-promising crypto exchange has had a tough beginning to 2023, starting with layoffs and ending in bankruptcy
Bittrex was sued by the SEC in mid-April for allegedly operating a national securities exchange, broker, and clearing agency, despite the company's planned exit from the US 👨⚖️
The exchange has over 100,000 creditors with liabilities and assets estimated to be between $500 million to $1 billion
Bittrex joins the crypto bankruptcy club with FTX, Celsius, Voyager, and BlockFi 😬
If Google Reviews were a representation of this bear market, we think it would look something like this…
Ordinals upend Bitcoin mining ⚒
Ordinals have pushed Bitcoin transaction fees above mining rewards
Ordinals are a new type of transaction that combines multiple smaller transactions into a single transaction, allowing for more efficient use of block space, which is limited on the Bitcoin network
Bitcoin transaction fees surpassing mining rewards is a significant shift, as mining rewards have traditionally been the main incentive for miners to participate in the network
Bitcoin miners may become increasingly reliant on transaction fees as a source of income 💸
Take A Sip: Additional News And Updates
⬆️ OpenZeppelin's Contracts Wizard program enables users to create a new token with ease. The program generates code quickly and offers several token features to choose from.
⬆️ Apollo Global Management, a specialist in distressed investing that manages over $500 billion in assets, is involved in a bid to acquire the troubled cryptocurrency lender Celsius, as per an anonymous source.
Special Blend: Morning Meme Roast
As the CryptoBrew Daily comes to a close, we invite you to join us on Twitter for more crypto chat. Think of it as a chill gathering of like-minded folks, minus Chad talking about his 1-rep deadlift max and your tipsy uncle who always shares TMI stories. Let’s keep the crypto conversation going!
***DISCLAIMER: Please note that the information provided in this newsletter is for educational purposes only and is not intended to be construed as financial advice or a solicitation to buy or sell any assets. We urge you to exercise caution and conduct your own research before making any financial decisions.