7th Edition

This week in The Flippening, TL;DR

MicroStrategy acquired 11.88 BTC per hour every day for the past 400 days. Litecoin’s roller-coaster ride following a tweet claiming Walmart’s alleged partnership with Litecoin. ‘Floki has arrived’ tweet sends the price of Floki themed cryptocurrencies soaring. Coin of the week, memes, and more.

Top Highlights of the Week (ending 10th Sep)

MicroStrategy now holds more than 114,042 Bitcoins 🤑

400 days ago, business intelligence firm MicroStrategy owned 0 Bitcoin. They have effectively purchased 11.88 BTC per hour / 1BTC every 5 mins over the last 400 days.

MicroStrategy purchased an additional 5,050 bitcoins this week for ~$242.9 million in cash at an average price of $48,099 per Bitcoin. They now hold more than 114,042 Bitcoins, worth more than $3.16 Billion at an average price of $27,713 per BTC.

Walmart says the press release on Litecoin partnership is fake 👹

Walmart Inc released a press release stating that the retailer’s partnership with cryptocurrency Litecoin was fake. The fake statement had said that ‘Walmart would allow its customers to make payments with Litecoin at its online stores’. The price of Litecoin had shot up massively within minutes following the now-deleted tweet.

“Floki has arrived” 🥴

Elon Musk tweeted a picture of his pet Shiba Inu with the caption ‘Floki has arrived’ sending the prices of Floki-themed cryptocurrencies soaring. Shiba Inu almost shot up 1000%.

📰 Other news and top reads:

• Solana price crashed 13% after network outage
• Over $1 Billion in $ETH has been burnt since the #Ethereum London hard fork
• Franklin Templeton files for $20-million Blockchain Venture Fund
• Crypto is now a legal method of payment in Cuba

Market Performance Overview

It was a relatively consolidated week for the top cryptos. Solana, which had a fantastic rally during the previous week, ended this week with a 24.68% decline. Initially, during the week, the Altcoins showed strength. However, most of the top 30 Altcoins ended the week with a modest decline.

Choosing A Crypto Exchange — Centralized vs Decentralized

This week we decided to do a study on the differences between centralized and decentralized crypto exchanges. Read it here.

Coin of the week🤑💸

HEDERA HASHGRAPH: $HBAR‍

Our coin of the week is HBAR. Hedera is designed to be a fairer, more efficient system that eliminates some of the limitations that older blockchain-based platforms face — such as slow performance and instability.

Here we are, at the end of our 7th edition. We hope you liked reading it. Please write back with your feedback, comments, and stuff that you’d like us to include in the newsletter. Here’s a meme for the OG investors.