🤦♀️Reasons why BTC might be hitting lower support levels and MetaMask Apple Pay Integration
GM degens 🥳 Happy Monday (if there is such a thing!)
Our lunch menu for today
👎BTC hits lower support levels
🙀MetaMask integrates Apple Pay
🧜Twitter thread on how to get a job in web 3.0
Bitcoin (BTC) has gone below its support levels, now reaching $38.5K, a level seen last time back in March 15th, 2022. Historically, $40k has been an important support as there was a lot of buying activity at those levels. Apparently, that did not happen this time. That for a reason though.
Most of the experts (i.e. Twitter gurus) think this is tax-related selling as we come closer to the deadline to submit 2021 tax returns which is today (April 18th, 2022). To make it even more believable, this kind of behavior has been approved by Coinbase CIO Jeff Anderson, who mentioned that “Tax-related selling has definitely played a role in recent weeks”.
So who is selling then? Mostly short-term traders with significant exposure on BTC holdings. The biggest output flow seems to be across those holders at 10-100BTC and 100-1000BTC ranges as seen below.
🙀MetaMask Integrates Apple Pay
Great news. For those who are not familiar with it, MetaMask is a cryptocurrency wallet which can be used on Ethereum blockchain. Basically, you will be able to access your wallet through their browser extension or their mobile app. It is the most widely used wallet app. It is widely used in the NFT space as well.
While it has been challenging to buy ETH on MetaMask through Transak or MoonPay, this process has become much easier for the average Joe who thought this process would be complex and take forever. Users will be able to buy ETH with a single click using Apple Pay. The limit for transaction as of now is $400 but that is a subject to change. Of course, some states in US have stricter rules than the other ones. If you are from NY or TX you won’t be eligible for this feature just yet.
🧶 Twitter thread worth reading
👩🏽🎓 Degens Vocabulary
This will be a daily section where we will keep you updated with the web3 space vocabulary (will be using them more often once audience gets more familiar with them).
RUGGED,- In cases when founders of the project promise to deliver value to the holders but instead they take the existing profits and abandon the project. DOXXED, - Doxing is the act of revealing personal information to the public. In most of the NFT projects, team is not DOXXED, meaning they are not publicly identified so there is a higher risk they might run away with the profits. 🗞️ Other news in the space
Largest cryptocurrencies drop on Bitcoin Cash, Uniswap declines
Crypto Gaming 'Landlords' Upset They Can't Keep Exploiting All The Players
Russian bankers reportedly want to outlaw noncustodial crypto wallets
Aight. I’m outta here.
