yesterday may have been a sea of red but one token jumped four thousand percent a major stablecoin tumbled as binance lifted the curtain on its reserve and FDX might be dead but crypto is for the living because nft Traders just got some really good news my name is Morgan and this is your nightly crypto news wrap up let's get it yesterday in one of the crypto Market's Darkest Hours Justin Sun tweeted a message to Tron Network token holders that inspired hope and confusion ultimately leading to TRX pumping 4 000 in a tweet Sun said that he plans to stand behind all Tron token holders on FTX and work with them on a path forward with Finance backing out of the acquisition deal yesterday many were happy to take a quick shot of hopium that maybe Tron would be the one to save the day turns out the news was TRON native assets like TRX it's stablecoin BTT will be redeemed on a one-to-one basis along with other Tron assets that I'm having trouble taking seriously because with tickers like GST and Sun they just seem to be named after tron's founder their D5 tokens though and the trading of TRX and other Justin themed tokens restarted on FTX overnight with a price surge of over two dollars and fifty cents before correcting to 32 cents which has since retraced to 15 cents prices are all over the place right now in crypto but your fund shouldn't be store your assets safely with a trezor hardware wall it click here for a great deal now let's hand it over to Frankie candles for a market watch thanks Morgan all right guys let's jump in and do a little market watch here as we've actually gotten a pretty good bounce on bitcoin here we've got Bitcoin coming in at 17 494 dollars up about eight percent on the day ethereum coming in at 1 287 up about 14 on the day now guys I want to bring you over to the Bitcoin chart because we were able to Long almost the exact bottom on the Frankie candles live stream last night we caught a long entry here at about 15 855 and we have now ridden this all the way up for almost 14 profit and we were able to catch that move because we had a Confluence of support down here with the addition of bullish divergences on the lower time frames and the one hour as well as the four hour so it made it a pretty confident trade and we were able to catch that falling knife almost to the exact dollar so super pumped about that now as of right now it does look like these lower time frames do want to cool off a little bit so I do think we could potentially come down in the short term but that daily time frame does have that v-wop starting to roll back to the upside so we'll have to see what happens once that v-wop crosses over but for the short term it does look like we can continue to cool down here just a little bit and if you guys want to learn a little bit more of how to get into these Saucy Saucy trades you can find me on YouTube at Frankie candles or at Frankie underscore candles on all socials back to the news thanks Frank even tether had trouble staying on its feet yesterday with a three percent drop below its dollar Peg hitting a low of 93 cents usually the stablecoin trades between 0.99 and 1.01 but yesterday on Kraken binance coinbase and okx it was trading much lower tether CTO wasted no time issuing a statement saying they had zero issues with the 700 million usdt that was redeemed yesterday in that when markets are extremely volatile exchanges can have different price quotes for usct he said that this isn't a reflection on tether's reserves but rather the liquidity on exchanges trying to keep up with demand I bet tether is really happy right now that their reserves were under intense scrutiny at the top of the bull market and earlier this year because as the whole Market melts down the value of airtight finances has become all too clear now that usdt has repacked it looks like they are likely to hold steady but we know to stay vigilant because what's also become clear is that nothing in crypto is a sure thing also even with tether temporarily depegging and with people worried about usdc the thing that scares me the most is The Regulators using our volatility against us binance seems to know the value of a balanced checkbook releasing its cold wallet funds list that shows 69 billion in reserve in the coming weeks they plan to release the exchange's proof of funds in the form of a Merkle tree or individual account Holdings but for now we have a list of what's included in binance's wallet included are 475 000 Bitcoin which is just shy of four times out of microstrategy 4.8 million ether worth 5.5 billion dollars 17.6 6 in usdt 601 million in uscc and 21.7 billion of its own stable coin busd and 16 billion in finance smart change native token BMB as crypto melts down nft enthusiasts are still browsing cartoon animals and joining new online communities I gotta say it we love you nft people thanks for keeping things light open CTS gamecollector something to be happy about with an announcement that they will continue enforcing creative royalties which is something opensy was looking to revoke but after the community rallied around its creators wanting to see them get paid for their work on projects and in communities openc has reconsidered their decision in a statement they said we're awed by the passion that we've seen from creators and collectors this week we were looking for your feedback and we heard it loud and clear that's all I got be blessed fit Squad Morgan out [Music] thank you [Music]
