In recent days, the meme coin DJT has become a topic of discussion in the market. Renowned trader GCR even publicly challenged Martin Shkreli to a $100 million bet before the identity of DJT’s creator was revealed, betting that DJT is not a token issued by Trump.
This event inevitably recalls the March 2022 wager on Twitter between Terra founder Do Kwon and GCR, who bet $10 million that LUNA would be priced lower than $88 one year later. As history shows, LUNA and UST collapsed, leading to GCR winning the bet and profiting significantly from shorting LUNA.
A similar scenario unfolds now. Could this be a harbinger of a bear market? Responding on X, GCR noted that the 2022 bet occurred during a mid-term bear market. The current market structure more closely resembles the aftermath of the DeFi boom and subsequent collapse in late summer 2020, with echoes of summer 2021. However, GCR emphasizes caution against over-reliance on historical patterns, as each cycle’s development varies. Ultimately,
Are Stablecoins Primarily Used for Money Laundering? Blockchain Analysis Firm Reports 99% of Stablecoin Transactions Will Be for Legitimate Purposes in 2024.
Table of Contents Toggle Stablecoin Usage Becomes Increasingly Compliant TRM …