Roma pfp

Roma

@ww3dev

112 Following
5 Followers


Roma pfp
0 reply
0 recast
1 reaction

Roma pfp
0 reply
0 recast
1 reaction

Roma pfp
0 reply
0 recast
1 reaction

Roma pfp
0 reply
0 recast
0 reaction

Roma pfp
0 reply
0 recast
0 reaction

Roma pfp
0 reply
0 recast
0 reaction

Roma pfp
0 reply
0 recast
0 reaction

Roma pfp
0 reply
0 recast
0 reaction

Roma pfp
0 reply
0 recast
0 reaction

Roma pfp
Bryan Pellegrino about airdrops: I believe the airdrop meta is broken. When I got the Uniswap airdrop, it was a surprise that made me feel connected to the protocol. I had no expectations before or after. In 2022, we focused on rewarding early supporters and developers. Our early Discord was amazing. Things changed in 2023 with huge speculation after other airdrops. We went from 1 million operations a year to nearly a million a day. Pressure and expectations skyrocketed, so we announced a distribution for early 2024. We focused on developers for better alignment, knowing most people seeking quick gains wouldn’t be long-term users. "Proof of Donation" was introduced to encourage thoughtful participation, aligning with our values: immutable, permissionless, and censorship-resistant infrastructure.
0 reply
0 recast
0 reaction

Roma pfp
The upper chart shows an increase in realized BTC losses. Realized losses can only occur for short-term holders (STH) because the average cost basis for long-term holders (LTH) is around $25K. The price dropped, causing a spike in losses. Those who bought during the recent highs driven by FOMO are now selling. The lower chart shows the STH SOPR (Spent Output Profit Ratio) falling into negative territory below 1, indicating the realization of losses. Five days of negative ETF flow. All of this is a result of a massive wave of profit-taking by LTHs around BTC's new all-time high, which scared STHs, including new market participants. Additionally, the FED's refusal to lower rates in the near future added to the pressure. A tailwind for BTC is Saylor's planned purchase of $700M instead of the previously announced $500M. He may have already bought the dip. On Tuesday, the downtrend might continue due to inertia, but I expect stabilization soon, followed by a reversal or an immediate reversal.
0 reply
0 recast
0 reaction

Roma pfp
0 reply
0 recast
0 reaction

Roma pfp
0 reply
0 recast
0 reaction

Roma pfp
0 reply
0 recast
0 reaction

Roma pfp
0 reply
0 recast
0 reaction

Roma pfp
0 reply
0 recast
0 reaction