Bitcoin To Reach New All-Time Highs, Market Strategist

Market strategist Michael Lee says that he sees bitcoin reaching new all-time highs. Lee was on Fox Business Monday in an interview to talk about his outlook on bitcoin. Lee is the founder of investment firm Michael Lee Strategy which offers wealth planning and investment management to clients. Michael Lee Strategy offers its services as an investment adviser representative through Compass Financial.

Related Reading | Bitcoin Volume Continues To See Yearly Lows As Price Struggles To Recover

The founder sees a good future ahead for bitcoin which he explains as a momentum asset class. Michael Lee who is an investor himself does not believe bitcoin will be slowing down soon, calling even new all-time highs for the digital asset as more time passes. According to Lee, he believes that the digital asset will definitely bring in as much profit or even more than any of the other digital currencies currently in the market.

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The Best Days Are Ahead For Cryptocurrencies

Market strategist Lee said in the interview that the best days remain ahead for cryptocurrencies, and in particular, bitcoin. The strategist explained that bitcoin is a first mover in the market. Predicting the asset will do just as well as other digital assets or even better than others.

Bitcoin market cap chart from

Bitcoin market cap chart from

BTC market cap now sits at $718 billion | Source: Market Cap BTC on

Speaking about fed regulation for bitcoin and cryptocurrencies, Lee said, “I think it’s a long time before we see any sort of taper or any sort of restrictive policy from the Fed.” Lee continued on to say, “it’s not only like that with the Fed. It’s also like that with central banks worldwide.”

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Lee’s resolve in the future of the coin looks unshaken, looking positively ahead for the price performance of the coin going forward.

Bitcoin High Price A Result Of Endless Money Printing

Michael Lee also took time in the interview to address the current speculations in the market that connect the recent bitcoin price surge to the rumors of Amazon adding digital currencies on its platform. Talking on this, Lee said that the theory of the price surge being related to the price increase was wrong.

Related Reading | Over $800 Million Bitcoin Shorts Liquidated As Price Surges 12% In 24 Hours

Lee attributed the growth of the digital asset to $60,000 back in April was due to governments printing money and not limiting the amount of fiat being printed.

The founder pointed out that it was hard to explain how the price movements work. But related this to trading activities being carried out in the crypto market.

I think it’s hard to explain some of these moves, but it’s a very much a momentum asset class. So, as soon as you get a little bit of momentum to the upside, the follow on trades just keep coming and coming and coming. And then all of a sudden you go from $29,000 to almost $40,000 in the span of a little over a week.

Featured image from Forbes, chart from


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Gas Prices Soar as Stoner Cats Sell Out in 40 Minutes

Key Takeaways

  • Stoner Cats is an upcoming animated series by Mila Kunis starring voice actors like Chris Rock, Ashton Kutcher, and Seth McFarlane but also Vitalik Buterin.
  • The series’ launch debuted with an NFT release of 10,000 stoner cats. The cats quickly sold out pushing gas prices as high as 600 gwei.
  • In addition to their cuteness, the cats guarantee lifetime access to all episodes of the Stoner Cats series.

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Gas prices reached more than 600 gwei for a brief moment as NFT aficionados jumped on the latest craze, Stoner Cats.

The NFT Hype Never Left

Gas prices soared to levels unseen in a long time as the latest NFT craze took place on Tuesday. This time, Stoner Cats were the subjects of attention as NFT collectors could mint a total of 10,000 cats at a price of 0.35ETH each on the stoner cat website.

Stoner Cats is an upcoming NFT animated series created by Mila Kunis. Accompanying the launch, the unique NFT token commemorating the series premiere was released a bit later than 5 pm EST today. The cats quickly sold out in less than forty minutes, as interest was high.

Stoner Cats NFTs. Courtesy of Anton Tarasov.
Stoner Cats NFTs. Courtesy of Anton Tarasov.

One of the reasons for the heightened interest surely lies in one of the voice actors for the series, none other than Ethereum founder Vitalik Buterin himself. He will act alongside famous actors such as Seth McFarlane, Ashton Kutcher, and Chris Rock.

The narrative revolves around Ms. Stoner’s lovely cats, who are given the ability to talk due to Ms. Stoner’s magic medical marijuana. Buterin will voice an older, wiser cat named Lord Catsington.

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The craze for the NFTs coincided with an impressive rise in gas prices on Ethereum, which brought to memory some of the previous popular NFT releases, which often see many users rush to make transactions.

The NFTs also serve as a lifetime pass to see all the Stoner Cats episodes in the future. At the moment, access to these episodes will be restricted only to the holders of the NFT but is expected to open up to the public shortly. A short calculation of the profit realized by the NFT sales indicates the Stoner Cats team must have made more than $8 million on the 10,000 NFTs.

Disclaimer: The author held ETH and several other cryptocurrencies at the time of writing.

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ZKSwap’s V2 mainnet is set to go live tomorrow

Decentralized cryptocurrency exchange ZKSwap has announced that its upcoming V2 mainnet will go live on July 28 via the Layer 1 Ethereum mainnet. A layer 2 launch is planned to occur sometime thereafter on Binance Smart Chain, Huobi Eco Chain, and OKEx Chain.

This update will introduce a variety of new features for third-party projects looking to list their tokens for trade, such as the allowance of unlimited token listings and pairs. The update will also lower cross-layer withdrawal times from 40 minutes down to 20 minutes, and give users the ability to pay their withdrawal fees using an expanding list of tokens, such as Ether, Tether, and the platform’s own ERC20 token, ZKS.

Once deployed on all planned networks, the team noted that ZKSwap v2 will be ready for mass adoption, ensuring listed projects can move liquidity across blockchains as they see fit. As for scalability, transactions take place on layer 2 to minimize wait times and fees. As a result, the project says that users will enjoy gas-free transactions every day up to a predetermined limit. The exchange also intends to hold a campaign at launch to ensure a hassle-free migration for liquidity providers.

Related: The rise of DEX robots: AMMs push for an industrial revolution in trading

After launching in February 2020, ZKSwap locked in over $1.7 billion in just six months. Its users are rewarded in the platform’s ZKS token, which currently plays a role in network governance. ZKSwap also takes advantage of various consensus methods such as proof-of-stake, or PoS, proof-of-transfer, or PoT, and proof-of-ZK-snarks, or PoZK.

Exchanges, decentralized and otherwise, have continued struggling to regulate in recent days. Binance CEO Changpeng Zhao recently announced that he plans to step down from decentralization in an attempt to achieve regulation in even the toughest countries. Meanwhile, crypto-companies are dropping out of China left and right due to its recent crackdown.