👀 Is Binance GOOD or EVIL?

Gm, this is the doodhwala, your crypto best friend, we know all your secrets, even the name of your crush back in 8th grade. 🤗

But we won’t tell no one. 🤫

Here’s what we got for you today:

• ETH buyers are everywhere

• Binance, BEHAVE!

• The second greatest Crypto Giveaway EVA

• Milky Meme of the Day

Let's fly? ✈️

Binance! Be a good boi and BEHAVE!

Serious question: Is Binance good or evil?

Now, don’t be that one annoying “philosophical” dude and ask “but what is the nature of good or evil?” 🤦‍♂️

During the beginning of the whole FTX saga, we all thought “Damn CZ, just stop annoying our starboi SBF”

But as things unfolded and more information was brought to light, we all went “Damn CZ, you da man!” 😅

Unfortunately, not everything is so black and white. Or rather so doodh and paani. 🥛

Binance and CZ have a lot of flaws as well.

Remember when the BNB chain was hacked a few months back and almost $400 million dollars were being stolen away before the whole chain was “paused”?

Yes, paused. 😬

A decentralized blockchain being paused. Not so decentralized, is it?

And now Binance, the centralized exchange (CEX) locked withdrawals of some accounts during an internal investigation.

Wait..what? 🤨

So apparently, there were some abnormal price movements happening on Binance for certain tokens like $SUN, $ARDR, $OSMO, $FUN and $GLM.

The Binance team thought they were either being hacked or there was an internal malfunction and hence, they launched an investigation.

But turns out, it was how the market was ACTUALLY behaving. 😂

So obviously, a few accounts took advantage of this and made some profits (they broke no particular rule or regulation as well). 🤷‍♂️

And Binance went ahead and blocked all those accounts and paused their withdrawals. 🤡

Goddamnit. Why can’t they just take a chill pill!

We understand that Binance is a centralized exchange and they can do whatever they want.

But CZ can't go around preachin’ about the “ethos of web3 and free speech” and pull crap like this.

And all of this is happening during a time when:

• Trust in crypto is at an all-time-low after the FTX blow up

• US Justice Department is thinking about filing criminal charges against CZ and Binance for alleged money laundering 😬

Binance is, unfortunately, the last bastion of trust and hope in crypto for A LOT of people.

Just like this dude says, if Binance falls, it might be over for a VERY LONG TIME.

Hey Siri, set the Fear and Greed index to ALL-TIME-HIGH and play sad songs. 😭

ETH buyers are everywhere, you’re just not looking 👀

November sucked.

India was knocked outta the T20 world cup.I didn’t get tickets to Tay-Tay’s concert.

Oh yeah, and FTX defrauded customers for BILLIONs, and crypto prices went lower than my 10th standard physics exam.

😭

In all this drama 💅 you probably missed something very cool.

There was a massive accumulation of ETH.

And of all sizes too.

From the small 0.01 ETH that’s left in our wallets after apeing into NFTs.

To that large 32 ETH bag that we need to become a full validator on Ethereum.

Let's look at the breakdown of ETH holders and compare them to Premier League teams, because tf why not?

The Big Whales aka Manchester City. [Holding 10k ETH or more]

No one likes these holders, because they keep buying everything. Even Mario Ballotelli. I mean, come on? 😒

👉 Over 50 ETH addresses holding at least 10k ETH increased their bag size. 👀

The Getting There Hodlers aka Arsenal. [Hodlers with 1k ETH]

These little holders are fast and ferocious, but with just a few small...trophies...I mean ETH, they still think they're as big as the Whales. 🤣

👉 In November, over 30k addresses holding at least 1k ETH increased their bags.

The Small Fry aka Aston Villa. [Hodlers with 10-100 ETH]

These little holders are quick accumulators in bull markets, but with a little bit of trouble they end up selling their Jack Grealish...I mean...ETH bags to the whales. 😭

👉 Over 200k addresses holding 10-100 ETH added to their bags. This was the highest accumulation by this group since 2017!

The Ones That Aren't Even Holders aka Norwich City. [Hodlers with 0-10 ETH]

These little holders come in and leave the market every few years, but no one notices. 🤷‍♂️

👉 Close to 1 million addresses bought at least 0.1 ETH in November 2022. Again, the highest increase in this cohort since 2018.

With all this accumulation, does this mean the market is back to normal now that everyone is buying up ETH?

🚨 We don’t really know. Like we always say at the doodhwala, we no-no about prices. 🚨

But we can GUESS, here's 2 reasons we think hodlers are buying up ETH:

1️⃣ Hodlers want to hodl directly and not stake

Since The Merge, the Ethereum Foundation removed the ETH 2.0's staking withdrawal schedule.

So, people don't really know when they'll be able to unstake their ETH.

Holders could be moving from staking to hodling their ETH directly. 👀

2️⃣ Hodlers want to consolidate and keep ETH in cold storage

Read the room: No one trusts CeFi exchanges.

Those holders who've held their ETH on CeFi exchanges for yield or liquid staking or helping SBF run away with their funds are moving it all out.

Look at that drop of ETH held on exchanges:

ETH is down 62% since January 2022, but up 11% since June 2022 when 💩 hit the fan.

So, maybe holders think it's time to accumulate?

But what do you think? Reply to this EMAIL with what you're doing with your ETH whether it's:

• buying NFTs

• using it on DeFi protocols

• playing P2E or metaverse games

The whackiest answer will win some ETH. 👀

The greatest Crypto Giveaway eva!!

The year was 2010, Bitcoin was worth $0.1 or Rs 8.

And a developer by the name — Gavin Andresen — wanted to give a bunch of BTC away.

He did this through a Bitcoin Faucet 🚰

For my desi friends out there Faucet = TAP (that thing you can never figure out in hotels)

All you had to do was solve a captcha — those annoying squiggly words you have to solve when you enter your password.

Something like this:

And once you fill this, you’d get 5 BTC.

The goal?

• Get people to download a Bitcoin wallet

• Get people to receive Bitcoin

• Get people to use Bitcoin

Gavin gave away 20k BTC, now worth $340 million (Rs 2,800 crore) 🤯🤯🤯

BTW: You can’t take part in this giveaway because the Bitcoin faucet website is now inactive. 😢

But here’s what you can do:

1️⃣ Use Bitcoin like Gavin wanted you to.2️⃣ Take part in the doodhwala’s giveaway.

That’s right, we’re giving away something cool too. Not as cool as 5 BTC, but a piece of crypto history.

Check it out on our Twitter.

It’s the second GREATEST crypto giveaway ☝️

Milky Meme of The Day

If you want more doodh then, be sure to follow our Twitter (@DoodhwalaDaily)

That’s all for today bhaiyo aur bheno! Naale Sigona!

Aakash "Dahi Cheeni" Athawasya & Arvind "Doodh Peda" Krishna

Yo! Our legal and financial advisors (aka our good ol’ conscience) have asked us to add this boring disclaimer.

None of what you read here is financial advice. We aren’t here to get you to buy or sell a crypto. We’re only here to tell you what’s up in crypto today and make you laugh. So, if you screwed up on a trade, that’s on you G. Stay safe in the markets.