Part-time degen, full-time trader. Crypto analyst, researcher, and content creator. Sharing actionable crypto insights & alpha
In Profit β
Joined October 2023
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This is my second year in crypto.
During this time, I have gained lessonsβ some more valuable than others.
Now, Iβll share 9 insights I have gained over the last couple of months.π§΅
Benedicthy Hedithy (βοΈ, π₯) retweeted
You canβt talk about gambling if the streets ainβt involved.
We took this straight to the streets of Lagos, bringing you the feel of reality and pure 9ja vibes κ
Introducing Gamdom to the average Lagos guy in clean, raw Nigerian English.
Gamdom to the streets of Lagos.
#Gamdom100kRound2
@stevewilldoit @kingadukes π«‘
Shot by: @Xaheer0 π₯
Disclaimer: No hard drugs were used during this video shoot, and no injuries were sustained in the process.
bringing @gamdom to the streets of Lagos κ
the street asked, we delivered.
full video coming soon π₯
@stevewilldoit @kingadukes
#Gamdom100kRound2
Benedicthy Hedithy (βοΈ, π₯) retweeted
The Binance Hack: A breakdown of what happened and how it occurred.
Feel free to watch the video for the full story.
This goes out beyond the bone of contention, but someone asked Binance a question yesterday that nobody wants to answer. If the stolen funds are covered, what happens to the people who were liquidated?
Over $1.6B in positions were wiped out in the 24 hours following the hack news, and $1.35B of that total belonged to long positions. None of that money is coming back because a hack refund covers the exchange's wallets, whereas a liquidation is simply the market executing its natural functions.
The lesson is that venue risk must be factored into your position sizing. When an exchange freezes withdrawals, your collateral stays trapped while the market panics, turning a normal price wick into a forced liquidation.
The practical solution is to keep your leverage low enough that your liquidation price sits past a 15% move, use isolated margin so one bad trade cannot destroy your entire account, and never keep all of your collateral on the same exchange where you are trading.
You should size your positions for the day the exchange breaks, because that is the day the wick comes.
The Binance Hack: A breakdown of what happened and how it occurred.
Feel free to watch the video for the full story.
This goes out beyond the bone of contention, but someone asked Binance a question yesterday that nobody wants to answer. If the stolen funds are covered, what happens to the people who were liquidated?
Over $1.6B in positions were wiped out in the 24 hours following the hack news, and $1.35B of that total belonged to long positions. None of that money is coming back because a hack refund covers the exchange's wallets, whereas a liquidation is simply the market executing its natural functions.
The lesson is that venue risk must be factored into your position sizing. When an exchange freezes withdrawals, your collateral stays trapped while the market panics, turning a normal price wick into a forced liquidation.
The practical solution is to keep your leverage low enough that your liquidation price sits past a 15% move, use isolated margin so one bad trade cannot destroy your entire account, and never keep all of your collateral on the same exchange where you are trading.
You should size your positions for the day the exchange breaks, because that is the day the wick comes.
Benedicthy Hedithy (βοΈ, π₯) retweeted
This goes out beyond the bone of contention, but someone asked Binance a question yesterday that nobody wants to answer. If the stolen funds are covered, what happens to the people who were liquidated?
Over $1.6B in positions were wiped out in the 24 hours following the hack news, and $1.35B of that total belonged to long positions. None of that money is coming back because a hack refund covers the exchange's wallets, whereas a liquidation is simply the market executing its natural functions.
The lesson is that venue risk must be factored into your position sizing. When an exchange freezes withdrawals, your collateral stays trapped while the market panics, turning a normal price wick into a forced liquidation.
The practical solution is to keep your leverage low enough that your liquidation price sits past a 15% move, use isolated margin so one bad trade cannot destroy your entire account, and never keep all of your collateral on the same exchange where you are trading.
You should size your positions for the day the exchange breaks, because that is the day the wick comes.
Hackers stole $6.3 billion from Binance, the world's largest cryptocurrency exchange, in what analysts say is the biggest crypto hack ever, an attack that could prompt investors to rethink the risks of owning digital assets reut.rs/3UonWlO
This goes out beyond the bone of contention, but someone asked Binance a question yesterday that nobody wants to answer. If the stolen funds are covered, what happens to the people who were liquidated?
Over $1.6B in positions were wiped out in the 24 hours following the hack news, and $1.35B of that total belonged to long positions. None of that money is coming back because a hack refund covers the exchange's wallets, whereas a liquidation is simply the market executing its natural functions.
The lesson is that venue risk must be factored into your position sizing. When an exchange freezes withdrawals, your collateral stays trapped while the market panics, turning a normal price wick into a forced liquidation.
The practical solution is to keep your leverage low enough that your liquidation price sits past a 15% move, use isolated margin so one bad trade cannot destroy your entire account, and never keep all of your collateral on the same exchange where you are trading.
You should size your positions for the day the exchange breaks, because that is the day the wick comes.
Hackers stole $6.3 billion from Binance, the world's largest cryptocurrency exchange, in what analysts say is the biggest crypto hack ever, an attack that could prompt investors to rethink the risks of owning digital assets reut.rs/3UonWlO
Benedicthy Hedithy (βοΈ, π₯) retweeted
This morning, Nvidia on Solana was 2.5% cheaper than Nvidia on Nasdaq.
It's the same company, backed 1:1 by the same share. Tesla was 2.1% cheaper too.
Almost nobody noticed. I spent the morning working out why it happens, and found a team building a tool to catch it π§΅
This morning, Nvidia on Solana was 2.5% cheaper than Nvidia on Nasdaq.
It's the same company, backed 1:1 by the same share. Tesla was 2.1% cheaper too.
Almost nobody noticed. I spent the morning working out why it happens, and found a team building a tool to catch it π§΅
Tokenized stocks are a $3.8B market whose prices drift every night, and OpenGap is one of the few tools built only to catch that drift.
App: opengap.xyz
Demo: youtu.be/gwEKmsSQXPE
CA: Fvto3QgSLbcWdq331BoR66RDkT7dZYgTS9JzbntMf7rD
NFA, DYOR.
Thatβs all for now.
If you love this thread, please follow @bencrypt_
Kindly tap on the like button on the tweet, retweet the thread, and bookmark it.
Thank you.
nitter.cf/bencrypt_/status/21162β¦