😡 Crypto's most hated rallies

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Good Morning!

After Bitcoin's continued run over the weekend, its price has cooled, with a pullback that has retraced to previous support levels. We expect the price to consolidate around here for a little while, with the potential for some bigger pullbacks in altcoins.

In the news, over the past few weeks, crypto markets have witnessed net capital inflows for the first time in 17 months. Also, with the rising popularity of Telegram trading bots, we're sharing some important information regarding the security of these bots.

Let's dive in! 👇

Markets

Crypto Market Sees Net Capital Inflow for First Time in 17 Months (2 minute read)
In a notable shift, funds are re-entering the cryptocurrency market via stablecoins, specifically U.S. dollar-pegged tokens, marking the first occurrence in over a year, as highlighted by data from Glassnode. The 90-day net change in the supply of the leading stablecoins—USDT, USDC, BUSD, and DAI —has turned positive, breaking a trend that persisted since the collapse of Terra in mid-May 2022.

Since 2020, stablecoins have been instrumental in facilitating cryptocurrency transactions. Therefore, the observed rise in stablecoin supply is interpreted as a potential indicator of increased buying pressure or available capital that investors may deploy for acquiring crypto or as margin in derivatives trading.

What is Solana and how does it work? A beginner's guide to SOL (4 minute read)
Solana stands out as a third-generation blockchain platform designed to deliver a rapid, secure, and scalable infrastructure for decentralized applications. The article serves as a beginner's guide to SOL.

Having emerged as a notable player during the previous bull market, Solana experienced challenges following the collapse of FTX. However, with a positive market outlook, delving into the intricacies of Solana could prove valuable. Established in 2017 by former Qualcomm executive Anatoly Yakovenko, Solana's core objective is to significantly enhance blockchain scalability, surpassing the performance of well-established counterparts while maintaining cost efficiency.

Crypto’s most hated rallies may have confirmed the bull market (4 minute read)
Navigating the unpredictable terrain of crypto markets, where fundamentals play a different role compared to stocks, is a challenging endeavor.

Here, valuations often reflect a blend of sentiments, cults of personality, and memes rather than traditional financial metrics. As the current bear cycle hints at a potential turnaround, the concept of "hated rallies" gains traction, suggesting that cryptocurrencies facing widespread criticism might experience significant price surges during altcoin seasons.

Solana (SOL), labeled an "Ethereum killer" in 2018, exemplifies this trend, drawing disdain from critics despite its support for apps, NFTs, stablecoins, and tokens with significantly higher throughput than Ethereum. However, debates persist among crypto purists over Solana's alleged centralization, pointing to its lower node count and perceived costs associated with validator nodes, while Bitcoin enthusiasts criticize it for its initial coin offering and delegated-proof-of-stake consensus model, which doesn't align with the preferences of the Bitcoin community.

Tech

Are Telegram trading bots really safe? A user’s guide to best practices (5 minute read)
The recent emergence of Telegram crypto trading bots presents a novel approach to executing complex trades, promising efficiency within the familiar interface of the Telegram messaging app. These bots offer users the ability to engage in swift and effective trading, responding promptly to market changes.

However, the apparent technological convenience belies a network of security concerns that users frequently overlook. The compromising incidents involving Unibot and Maestro, two widely-used Telegram trading bots, serve as a stark reminder of the inherent vulnerabilities in such platforms. In a sophisticated exploit in late October, these bots fell victim, resulting in a substantial loss of $1.1 million.

Prominent Crypto Trader Issues Warning About Cold Wallet Scam (2 minute read)
The Wolf of All Streets, a prominent crypto trader with a following of 916,700, recently issued a cautionary message to his audience, urging vigilance in the face of scams targeting both hot and cold wallets. He shared a concerning incident involving a security-conscious friend who faced issues with his Nano-S hard wallet. The scammer posed as the company's CTO and guided the victim through purported troubleshooting steps, ultimately resulting in the complete depletion of the wallet. This type of scam is definitely not new, but even security conscious individuals are liable to lapses in judgement.

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Misc

XRP spike on hoax filing a ‘bad look’ but won’t sway SEC’s ETF approvals (3 minute read)
The XRP price fluctuations on November 13, triggered by a fraudulent BlackRock XRP trust filing, are unlikely to influence the SEC’s decision on approving or delaying spot Bitcoin ETF, according to industry observers.

The SEC has previously expressed concerns about the potential manipulation of the Bitcoin market, using this as a basis for rejecting spot Bitcoin ETF proposals due to insufficient controls against market manipulation. Bloomberg ETF analyst Eric Balchunas emphasized that the fabricated XRP filing is not expected to significantly impact the SEC's ultimate decision regarding spot Bitcoin ETFs. However, he noted that the incident could potentially affirm the SEC's existing concerns and beliefs.

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