Bank of America said on Friday, citing data from EPFR, say that tech stocks saw $4.4 billion of outflows in the latest week, their “largest outflow ever” and the first outflow in nine weeks

• $32 billion of flows into cash
• $13.3 billion into investment grade bonds, the largest inflow since September 2020

Info comes via Reuters, link here

Apple saw very sharp share price losses indeed:

High risk warning:

Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading and seek advice from an independent financial or tax advisor if you have any questions.

Advisory warning:

FOREXLIVE™ is not an investment advisor, FOREXLIVE™ provides references and links to selected news, blogs and other sources of economic and market information for informational purposes and as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the blogs or other sources of information. Clients and prospects are advised to carefully consider the opinions and analysis offered in the blogs or other information sources in the context of the client or prospect’s individual analysis and decision making. None of the blogs or other sources of information is to be considered as constituting a track record. Past performance is no guarantee of future results and FOREXLIVE™ specifically hereby acknowledges clients and prospects to carefully review all claims and representations made by advisors, bloggers, money managers and system vendors before investing any funds or opening an account with any Forex dealer. Any news, opinions, research, data, or other information contained within this website is provided on an “as-is” basis as a general market commentary and does not constitute investment or trading advice, and we do not purport to present the entire relevant or available public information with respect to a specific market or security. FOREXLIVE™ expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information, or with respect to any of the content presented within its website, nor its editorial choices.

Disclaimer:

FOREXLIVE™ may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

Finance Magnates CY Limited

In a surprising rally, WLD, the core native cryptocurrency of the eccentric eye-scanning protocol Worldcoin by OpenAI’s Sam Altman, breaks into the top three of cryptos by fully diluted valuation.

Worldcoin (WLD) price almost doubled in three days despite legal issues

Worldcoin (WLD), the key utility crypto of the eponymous protocol, hit a price ATH today, on March 9, 2024. The Worldcoin (WLD) price touched $11 on major spot centralized exchanges. Its market cap exceeded those of The Sandbox (SAND), Axie Infinity (AXS) and peaked over $1.6 billion.

At the same time, with its monstrous supply, Worldcoin (WLD) managed to become the third largest cryptocurrency by fully diluted valuation, i.e., by the hypothetical aggregated price of the net supply at the current market price.

The FDV of Worldcoin (WLD) now is estimated as $106 billion. Today, it replaced U.S. Dollar Tether (USDT), a dominant stablecoin, as the third largest crypto by FDV. As of now, it is only surpassed by Bitcoin (BTC) and Ethereum (ETH).

In the last 24 hours, the WLD price jumped by over 50%. As of printing time, the price of Worldcoin (WLD) bounced but got back to surging.

WLD is available at $10.62 on major spot and derivatives trading platforms; the trading volume targets $1.5 billion in equivalent.

As covered by U.Today previously, a Spanish data protection regulator ordered Worldcoin (WLD) to halt all operations in the country.

NVIDIA conference to blame?

The pump of Worldcoin (WLD) happens amid the decision of its team to postpone the next grant program round on March 25 so that it coincides with NVIDIA-backed GTC AI Conference 2024.

As noticed by pseudonymous DeFi researcher and trader who goes by @thiccyth0t on X (former Twitter), this move costs Worldcoin Foundation $150 million in tokens that were already “priced in” by markets.

In a thread shared with his 38,200 followers, @thiccyth0t adds that he will not be surprised by a spike of Worldcoin’s (WLD) fully diluted valuation to $200 billion.

To provide context, the FDV of Ethereum (ETH), the second largest cryptocurrency, is $472 billion, while Bitcoin (BTC) sees this metric over $1.4 trillion.

Shiba Inu has witnessed a staggering surge in its burn rate, reaching an astonishing 15,608%. This extraordinary feat comes as the SHIB team torches SHIB, BONE and LEASH, signaling a bold step toward enhancing the scarcity and value proposition of these tokens.

The surge in the burn rate coincides with heightened interest and activity in the Shiba Inu community, with Shiba Inu prices rising about 300% in the week to highs of $0.00004575.

According to the Shibburn X account, a total of 13,610,153,841 SHIB tokens were burned in 12 transactions. This comes to $489,965 in monetary terms.

Shiba Inu social media admin RagnarShib shares in an X post a breakdown of the burns that contributed to the massive 15,608.68% surge in burn rate. He shares a screenshot containing four burn transactions: two for SHIB, one for LEASH and one more for BONE.

The transactions are as follows: 9,649,108,480 SHIB tokens were sent to the dead wallet in a single transaction; 3,814,893,910 SHIB were burned in another transaction; 19,550 BONE and 28.762 LEASH were burned in two other transactions.

Shibarium burns

In a blog post, Shiba Inu lead Shytoshi Kusama discusses Shibarium burns and how the burn figures were arrived at. Kusama explains how the figure of 92 ETH, which was burned, came up.

In late February, Sheboshis, the female counterpart to Shiboshis and a hybrid NFT token, were launched to the delight of the Shiba Inu community. Kusama gave the structure for the proceeds (if sold) of Sheboshis.

The operating income would be slashed in half, of which 10% would go for burns (6% SHIB, 1% BONE, 1% LEASH, 1% TREAT and 1% SHI). In this regard, after all estimations and deductions for capital expenses and taxes, the operating income came in at 600 ETH.

Based on the structure presented, 36 ETH were allocated for SHIB burns, and 6 ETH were allocated for LEASH and BONE burns, respectively. Kusama highlighted a historic milestone: This would be the first time LEASH would ever be burned.

At the time of writing, SHIB was up 4.41% in the last 24 hours to $0.000035. BONE was up 5% in this time frame to $1.22; LEASH was up 3% to $758.

Santiment on-chain data aggregator has published a tweet to say the two largest cryptocurrencies have greatly surpassed the S&P 500 index on weekly returns.

It happened after Bitcoin soared to a new epic high of $70,199 on the Coinbase exchange and Ethereum also staged a massive rise, almost hitting $3,400.

BTC and ETH beat S&P 500, decoupling from it

Santiment has tweeted that Bitcoin and Ethereum have outperformed S&P 500 this week by returns significantly: BTC showed +10%, Ethereum printed an increase of +14.7%, while the aforementioned equities index showed only a +0.5% surge.

The analytics team has stressed that Bitcoin and Ethereum are currently facing “little to no correlation with equities,” therefore traders hope that this bullish trend will continue.

While Bitcoin has hit a new historic peak, Santiment continues, the percentage of social media discussions about BTC remains relatively high at the 27.5% level at the moment. However, this value is far from the euphoric levels observed earlier, when Bitcoin surpassed the $60,000 mark more than a week ago. Santiment concluded that this is a good sign as FOMO (fear of missing out) and greed are always top signals.

Another positive sign for Bitcoin mentioned by Santiment is that a lot of previously inactive Bitcoin wallets are starting to move their BTC back into circulation quickly. This is also typical for nearly every bull market, the tweet points out. This indicates that Bitcoin is likely to continue with its upsurge until BTC is again captured by crown euphoria and coin stagnancy hits the flagship cryptocurrency once again.

Next Bitcoin market top timing revealed by analyst

Popular on X cryptocurrency analyst and trader Ali Martinez has shared how long Bitcoin historically takes to reach a new market top after establishing a new all-time high.

Martinez believes that Bitcoin usually needs approximately a year or a little less to reach that point — from eight to eleven months, to be precise. Therefore, per his analysis, the next Bitcoin market top will be reached at some point between November 2024 and February 2025.

After hitting the ATH at $70,200 on Friday, Bitcoin has bounced back by 2.58% and is changing hands at $68,400 at the time of this writing.

The enigmatic leader of the Shiba Inu team known to the community under the alias Shytoshi Kusama has issued a crucial call on the SHIB army, urging them to vote for the Bone ShibaSwap (BONE) token as it stands a chance to be listed on the Binance Futures platform.

Earlier this week, the world’s largest cryptocurrency trader Binance announced the launch of a new voting feature called Binance Futures Next, allowing the community to vote for the tokens they wish to be listed on the Binance Futures market.

So far, along the other numerous tokens, BONE holds the third position by picks — 33,462. It is behind another meme cryptocurrency BabyDoge (BABYDOGE) with its 37,054 votes and ahead of the Milady meme coin (LADYS) (23,709 votes).

Shytoshi Kusama addressed the SHIB army on Friday and today as well, adding that since users not in all countries are allowed to access Binance and vote for BONE, he urged the SHIB army to press on and help the token to get to the first spot. On Friday, fueled by the news of the potential Binance listing, BONE soared by more than 23%.

1.24 trillion SHIB whale sells smaller meme coin

According to data published by the @spotonchain analytics platform, a smart whale who holds a stunning amount of Shiba Inu coins — 1.24 trillion worth $45.1 million — has deposited a massive amount of a smaller meme coin by market cap, FLOKI, to major cryptocurrency exchange Gate.io. They have transferred a massive lump of this meme crypto — 200.9 billion evaluated at $50.3 million — with a likely intention to sell it.

The tweet stresses that if this whale is truly selling their hundreds of millions of FLOKI, they will get $44.3 million of profit (731%) after holding that FLOKI stash for only less than two months.

Along with the 1.24 trillion SHIB, this whale is still holding 11.4 million BIGTIME worth $5.82. The overall unrealized profit on those holdings now constitutes an impressive $34.5 million in fiat.

In the meantime, this week, Shiba Inu demonstrated a surge by almost 48%, soaring from $0.00002563 to the $0.00003784 level. That was followed by a decline of 7.25%, which brought SHIB to $0.00003534, where it is trading as of this writing.

Prominent cryptocurrency trader KALEO has predicted that Dogecoin (DOGE) reaching a dollar in value is not merely speculative but a tangible possibility in the current market cycle. 

Dogecoin, currently priced at $0.1678, has seen a notable increase of 8.8% recently.

The price increase has sparked renewed interest and speculation about its potential to hit the much-coveted $1 milestone.

Dogecoin’s volatile journey

Dogecoin’s trajectory soared in early 2021, largely fueled by endorsements from high-profile celebrities and business magnates, including Elon Musk. 

The meme coin approached the $1 mark, riding the wave of social media buzz and investor optimism. 

However, its ascent was abruptly halted, and it experienced a significant downturn following Musk’s appearance on “Saturday Night Live,” where he jokingly referred to Dogecoin as a “hustle.” 

This event triggered a sharp decline in its value, and Dogecoin is yet to reclaim its 2021 peak. 

DOGE is still down 77% from its all-time high, according to CoinGecko data.    

Current market data

According to recent data from IntoTheBlock, Dogecoin exhibits a high price correlation with Bitcoin, standing at 0.95. This shows that Dogecoin’s market movements are significantly influenced by the broader cryptocurrency trends. 

The meme coin has witnessed substantial transactions exceeding $100K, totaling $4.46 billion over the past week. 

Furthermore, Dogecoin’s activity on exchanges shows more inflows ($593.32 million) compared to outflows ($463.24 million).

Currently, 57.62% of Dogecoin addresses are “In the Money” (holding coins at a profit), while 34.15% are “Out of the Money” (holding coins at a loss). 

Important DisclaimersThe content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party’s services, and does not assume responsibility for your use of any such third party’s website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.Risk DisclaimersThis website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.