PANews reported on August 14 that CryptoQuant analyst Yonsei_dent said that the NUPL (net unrealized profit and loss) indicator shows that when the value is higher than 0, most currencies are in a profitable state, which may trigger profit-taking.
Historically, market cycle tops are often accompanied by NUPL peaks. The market experienced a peak in 2017, two in 2021, and the current cycle may be forming a third peak. Unlike previous cycles, this round of market fluctuations has been more stable, primarily driven by institutional inflows into US ETFs and other funds. While the market is more stable, the magnitude of each rise is decreasing, suggesting a longer-lasting bull market, but a lower likelihood of a rapid surge in the short term.

New snake oil? Etsy witches are hawking spells they claim can change the weather on your wedding day, help you with your love life, or fatten your crypto portfolio. Etsy witches have become a massive trend on social media this year — from romance spells to helping manifest fame. Did you know they can also apparently help you become a crypto millionaire? The practice of witchcraft, once punishable by death by fire (or being pushed off a cliff), has become a talking point on TikTok. Online marketplace Etsy, which allows people to sell their handmade beanies and custom dog collars, has become a hub for the spellcasters despite having a ban on “metaphysical services.” Read more

