Frenzy on Solana-based DEX, Grayscale outflows falling, Bitcoin halving price predictions

A crypto analyst believes there'll be One last chance to buy Bitcoin at Bargain prices and why is there a frenzy Around the Jupiter exchanges Token good morning you're listening to The ryzen crypto podcast by coin Telegraph with me Robert bags steering You through the crypto Cosmos with daily Dispatches from the digital Frontier if you want to know which Direction the hype is flying and why Make sure you click that follow button Okay grab yourself a coffee and let's Get into It today we are all over the map to get You caught up on all things crypto Firstly we're going to look at research On hacks and scams in crypto in 2023 and How $674 million of it was recovered Then we're going to do a bit of a spot Bitcoin ETF update as there have been Some significant changes with gbtc Outflows a crypto Trader and analyst Believes there may be one last chance to Buy Bitcoin at bargain prices Robert F Kennedy Jr pledges to end the US efforts To move to a cbdc and the salant Decentralized exchange Jupiter flips Unis Swap I cover hacks scams and research on Them fairly frequently on this podcast They're simultaneously important to be Aware of and a useful reminder that While hacks and scams are prevalent

Crypto isn't some illegitimate crime Haven that Senator Elizabeth Warren Might have you believe yesterday the Blockchain security firm PC Shield Published data on hacks and scams in 2023 and there are lot of interesting Takeaways firstly the bad there were Over 600 major hacks in crypto in 2023 $1.5 billion was lost to hacks excluding Multi-chain unauthorized withdrawals and $1.1 billion was lost to scams totaling $ 2.61 billion in losses so that means That 58% of the losses were from hacks 42% of the losses were from scams and 67% of the hacks involved defi over Centralized Finance now as rough as that Sounds it is in fact a 27.78% decrease from 20 22 so we are at Least trending in the right direction What's more 6794 million of the 2.61 billion stolen Was recovered which equates to around 25% this in particular is a marked Improvement in 2022 $3.6 billion were Stolen from hacks and scams in crypto And only 133 million was recovered so Last year 2023 much less was stolen and Much more was recovered in a statement To coin Telegraph the p Shield team gave Some reasons as to why we're seeing such An improvement on recoveries they said Engaging in active negotiations with Hackers can lead to the return of stolen Funds implementing bug Bounty programs

Or onchain sleuthing to identify hackers And vulnerabilities in the system can Inhance security so the takeaway really Is that in 2023 we made huge strides so Let's push to continue on that road in 2024 okay it's time for a spot Bitcoin ETF update and it splits into the Familiar two SIDS of the equation Inflows and outflows Grace girl has been Engaging in Mass sell-offs for some time Now and some analysts believe that they Have in essence been taking bitcoin's Price and pushing its face into the mud And holding it there they have sold Thousands upon thousands of Bitcoin Daily but is it finally falling on Friday grayscale sold 10,900 Bitcoin Which is around $450 Million worth that Is a very big number but it is still a Sizable decrease so many eyes were on The 12th day of the spot Bitcoin ETF Trading and now we have those numbers Yesterday grayscale recorded an outflow Of 191.000 million this is still a high Number but it's an enormous drop from The peaks of over $700 million in one Day on this topic of the gbtc decreasing Outflows Dan crypto on X wrote I think It's safe to assume that the flows on Both sides will slowly call off from Here so now we turn to the other side of That equation Bloomberg's ETF analyst James Safar posted on X yesterday the

Following update for the Bitcoin ETF Kentucky Derby after Friday 11 days $5 Billion out of gbtc the newborn 9 still Offsetting those outflows with gross Flows of 5.8 billion giving us net Inflows of $759 million volume continued To slow so this is pretty impressive Really the nine spot Bitcoin ETFs have Managed to outpace grayscale's $5 Billion outflows this is mostly a joint Effort though obviously Black Rock and Fidelity are pulling the most weights With roughly $2.2 billion and $1.9 Billion in inflows respectively Black Rock has also been on a Bitcoin buying Frenzy with its I shares Bitcoin trust ETF now holding more than 52,000 Bitcoin Worth over $2 billion Roger Sony posted Some perspective on X yesterday he said Right now only 900 Bitcoin are being Issued every day Black Rock clients Alone are buying 2 to five times the Total daily production of Bitcoin and Again we're going to see those numbers Tail off they have to but it's worth Remembering that in Under 12 weeks the Bitcoin Haring event is going to take Place and that 900 Bitcoin mind per day Plummets to 450 now speaking of the Haring the past Haring events have Caused something of a pattern in Bitcoin's price just a brief warning and Without going too deep into philosophy Remember that the way things were in the

Past is no guarantee of the way things Will be in the future however it can be A strong indicator and some analysts are Suggesting that we're entering into a Period where investors should accumulate The pseudonymous crypto Trader and Analyst wed Capital posted a thread on X Yesterday that discussed the five phases Of the harving I will link to the post And Tom Mitchell Hills article on it in The description wed Capital listed the Five phases as the preh Haring event the Preh Haring rally the preh Haring Retrace reaccumulation and the parabolic Uptrend essentially it's a tumultuous Time for bitcoin price with a lot of ups And downs in the leadup to the harving Event in April wrecked Capital suggests There will be rallies as as we get Within around 60 days then heavy Retraces and in 2016 it retraced 38% and In 2020 it was 20% Then Rex suggests That people start loading up on bitcoin And we see a consequent breakout period With all-time highs so it seems we've Already seen a retrace with an 18% Pullback but we could see another Pullback still so this period we're in According to wct could be and I quote The final bargain buying opportunities For Bitcoin in the preh Haring event Period it's worth noting that the isn't A map for these things and some analysts Believe that the harving events are a

Less and less useful metric for Bitcoin's Price movement it would Surprise me given how much the Bitcoin Ecosystem has grown and changed over the Last four years that the price behaves How it has in all previous Haringsma to discuss them is Robert F Kennedy Jr Kennedy posted on X a snippet Of a media appearance that discussed the Threat of cbdcs in the video Kennedy Claims that a cbdc will allow the Government to know every single Transaction a citizen makes and it could Lead to Blackmail or pressure he adds That it a cbdc is a Calamity for human Rights and for civil rights Kennedy is Far from alone in this sentiment we have Seen several other candidates talk about It including Donald Trump you may Remember from a previous episode that Donald Trump said he will never allow a Cbdc in the United States it's worth Noting however that Robert F Kennedy Jr Was the first presidential candidate to Accept Bitcoin for campaign donations We've discussed before how contentious Cbdcs are both in and outside of crypto Many believe that a cbdc would be a bad Thing and I think I'm in that camp too As David Atley wrote in this article Kennedy shared the example of China Where the local cbdc the digital wi is Linked to an extensive social credit System and according to us Poli

Policians the government can shut off an Individuals access to their funds if the Street surveillance cameras detect any Form of non-compliance which is Horrendously Awan if true so it does Seem as if Kennedy is similar in stance To the Florida governor Ronda santis who Took a proc crypto and anti cbdc Position I've spoken about salana a few Times of late as the ecosystem sees Itself in a Renaissance of popularity if You're a big fan of salana you'll be Aware of several narratives at the Moment that are worth following however If you're not embedded in this community Then some of this might surprise you There has been some real Buzz around the Salana based decentralized exchange Jupiter yesterday Jupiter topped the 24-hour trading volume charts with $480 Million $10 million than the Ethereum-based volumes on Unis Swap and That is both the V2 and V3 protocol Versions of Unis swap combined this is No small feat the bulk of the volume was Made up by the swapping of the salana Token so for usdc and tether but over $50 million of the volume came in the Form of Traders buying and selling the Meme coin when Wen when is an experiment By the Jupiter exchanges developers and Could be claimed by any salana user who Has interacted with the Jupiter decks in The last 6 months or owns a salana saga

Phone now the buzz around Jupiter is Primarily tied up with its official Token launch tomorrow the Jupe token jup Is expected to launch and the premarket Jup tokens are already trading for Around 61 cents which puts the estimated Total value of the 1 billion token Airdrop tomorrow at around $600 million So the question I have is are we going To see more stories about that banana Gun bot sniping a swimming pool full of Cheap tokens how absurdly risky will People go with this one I did warn you We will be all over the map today Sometimes there's one big story I need To update you on and sometimes the news Is Broad but that is it for today so Consider yourself informed thank you for Listening to the ryzen crypto podcast by Coin Telegraph if you're enjoying these Daily updates please make sure let us Know by following subscribing or leaving A review we've had a fair few reviews on Spotify but we could do with some more On Apple podcast so if you can spare 30 Seconds drop us a review okay have a Great day let's do this again [Music] Tomorrow