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Social Media And Copy Trading – The Spiral Effect On The Cryptocurrency Market: Margex 

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The coronavirus crisis was a breakout of a new revolution in the financial world as millions of users found themselves stuck in lockdown, signing up to trading apps and using the opportunity to explore the world of stocks and cryptocurrency, signaling a new change and approach to the financial world.

Like Bitcoin, Tesla, and the SPAC IPO, social media saw an exponential growth of over 300% across all mainstream in 2020, showcasing how strong the space has become. The main idea is to combine community interaction and investing.

As a result, this change has received a serious push from Gen Z and millennial generations. This revolution has been strongly powered by social media such as Reddit, X, Facebook, TikTok, and Instagram, as this community has driven up the investment of hashtags by over 4.2 billion views in the past few years.

The effect of social media has been unfathomable before now, as there has been high speculation of the transfer of wealth to Gen Zs and millennials by 2050, with an estimated growth of 70%, amounting to $60 trillion in the hands of these individuals inclined to the internet age.

Social Media’s Influence On Investing Behaviour

In today’s investing world, timing and information play a significant role in the financial market. With the emergence of technology, many social media outlets, such as X and Telegram, have become peddlers of information for the investment world, whether good or bad.

In this digitalized trading environment, many retailers and users have tons of information online to make their investment decisions, from social media community channels to news media to trading exchanges offering tools and strategies to help retailers make informed decisions on what trading system best fits their style.

Additionally, through social media like X, many retailers and Gen Z alike connect with professional traders in the industry who have gained much expertise for over 10 years and have become profitable by leveraging the financial market as a full-time endeavor.

The rise of social media has had a rapid influence on the hearts of many users today as there are simpler, quicker, and more efficient ways of disseminating information as regards the financial market.

A study shows that 80% of retailers are more inclined to source information online, while 30% of such users take investment information seriously. This is all thanks to easy access to the financial market’s data and new avenues of making money online.

A side note: although social media has positively influenced the financial market, like cryptocurrency and stocks, risks are also associated with this information and data due to finding genuine information and avoiding dubious persons and platforms aiming to manipulate users for their own selfish gains.

The tendency for retailers to follow and copy other experienced investors has become a spiral behaviour and has affected many in the cryptocurrency market. Users should take the time to source information and investment data from authentic sources.

Social Media Influencers Lure Gullible Gen Z With Fake Photoshopped PNL

The financial market witnessed a boom during the advent of social media buzz in the past few years. Despite such growth in the financial market, a problem has arisen with many fake, experienced traders or influencers out to deceive users and retailers with fake portfolios to amass much wealth for themselves.

These investors or traders with huge online followers of over 120k on X or YouTube rely on fake trading strategies as a way of projecting themselves as successful long-time traders with fraudulent claims of highly enormous profits on social media, claiming to help while looking to extort these gullible users of their hard-earned money.

This side of the social media world is all part of reality now, as information and activities are blown out of proportion. It has peaked with lightning speed, with many Gen Z looking for a quick-rich scheme or viewing the financial market as a means to get rich overnight.

With such practices becoming pronounced in the financial market and being aided by social media, financial regulators have struggled to catch up or try to curb these practices among fake trading influencers posing to infiltrate the market.

Could the rise of copy trading filter out fake traders from experienced traders, enabling retailers and other users to harness different strategies and profitability from experienced traders?

How Margex Copy Trading Eliminates The Fear Of Unthinkingly Following A Trader On Social Media Out Of False Pretence

Copy trading is a strategy that allows retailers and users to link a certain amount of their investment portfolio to a selected experienced trader and then replicate all trades automatically without monitoring the trades or worrying about the best strategy for better profitability.

All future trades under the experienced trader’s account are replicated without the user initiating subsequent trades, enabling users to compound gains while diversifying their portfolio to other investments or building their trading experience.

Margex copy trading eliminates the fear many retailers and users have from following large accounts on social media such as X and YouTube with no track records of trades executed. With Margex copy trading leaderboard, all trades, strategies, PNL, return on equity (ROE), followers, and trader’s equity.

This system employed by Margex is a big step toward enabling less experienced users to trade quickly and choose traders among a large pool of experienced professionals with good trading histories and the most traded assets among their strategies while eliminating the negative noise effect from social media.

Margex remains one of the top copy trading platforms, designed with its users in mind. It bridges the gap between real, profitable, and experienced traders while giving value to retailers looking to replicate their trade easily.

Spending over $3 million to redesign its platform has never been talked about enough as Margex pushes to give its users the best experience they can think of with additional features such as a zero-fee converter to enable swaps without additional cost and plans to introduce an ultra-modern wallet to enhance security and custody of assets in one place.

With the following 3 simple steps, retailers can access the Margex copy trading platform.

1. Create A Margex Account

Having an account with Margex opens the doors to endless profitability opportunities in copy trading with access to the best traders in the industry and guaranteed profitability.

2. Follow Profitable Expert Traders

An account with Margex enables users to access the copy trading leaderboard and all metric strategies of expert traders, giving them the information they need to make an informed decision about which trader to follow to automate their trades.

 

3. Allocate Funds

On confirming the desired trader to follow and allocating a set amount you wish to replicate, the Margex platform will instantly replicate subsequent trades by the trader in real time.

As low as $10 is the minimum amount Margex requires to participate in copy trading strategies.

The quest for financial freedom has birthed copy trading, a modern-day tool that promises the best trading experiences for retailers. With the Margex copy trading platform at the helm of this evolution, retailers and users have a better blueprint for becoming rich through copy trading. With an impressive track record and data-driven insight into profitability, Margex offers transparency and a ready performance metric away from social media pretence.

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Cryptocurrency

$25 Million Crypto Heist in 12 Seconds: MIT Siblings Charged with Cyber Fraud

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Two siblings who attended the Massachusetts Institute of Technology (MIT) are now facing allegations of exploiting a vulnerability in the Ethereum blockchain. The duo reportedly swindled $25 million within 12 seconds, which the prosecutors labeled as a first-of-its-kind caper.

If convicted, both of them could potentially serve sentences exceeding 20 years in prison.

  • Anton Peraire-Bueno, 24, and James Peraire-Bueno, 28, are facing federal charges in Manhattan for fraud and money laundering.
  • The accusations stem from what prosecutors describe as a meticulously planned cyber heist executed from their computers over several months.
  • They were arrested on Tuesday in Boston and New York. Commenting on the development, Deputy Attorney General Lisa Monaco said,

“The Peraire-Bueno brothers stole $25 million in Ethereum cryptocurrency through a technologically sophisticated, cutting-edge scheme they plotted for months and executed in seconds.”

  • Both individuals attended the Massachusetts Institute of Technology (MIT), where Anton completed his Bachelor of Science in computer science and mathematics in February, while James obtained a Master of Science in aeronautics and astronautics in 2021.
  • According to prosecutors, the brothers leveraged advanced expertise acquired at a globally renowned university to manipulate Ethereum’s transaction validation process.
  • The siblings reportedly targeted Ethereum traders by fraudulently accessing pending private transactions and subsequently modifying them to acquire their victims’ cryptocurrency.
  • Upon being confronted by an Ethereum representative, authorities allege that the brothers refused to return the funds and instead laundered the funds and concealed their ill-gotten gains.
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Bitcoin Selling Pressure Subsides as Demand Stabilizes: CryptoQuant

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The price of bitcoin (BTC) has surged past the $60,000 level to the $67,000 zone due to news of a lower-than-expected inflation rate in the United States.

According to the latest CryptoQuant weekly report, bitcoin’s latest rally has also been sustained by a recent decline in selling pressure. However, demand for the cryptocurrency has yet to pick up.

Bitcoin Selling Pressure Declines

The fall in BTC selling pressure can be seen in the on-chain activity of short-term holders and the balances on over-the-counter (OTC) desks.

The BTC balance on OTC desks has stabilized since late April, indicating less bitcoin supply from market participants. The balance on OTC desks began to rise by 60,000 BTC on March 10 when the asset hit an all-time high of $73,000; however, it has been flat since late last month.

Similarly, the profit margins of short-term BTC holders are currently at low or negative levels following high margins that triggered high selling pressure in early March. Since they have depleted all profits accumulated in 2024, traders are now faced with unrealized losses on the positions. Historically, this has coincided with a local bottom in prices.

The possibility that the market has bottomed is substantiated by miners’ low profitability. CryptoQuant analysts said Bitcoin miners are extremely underpaid at the moment, and their profitability has plummeted to levels last seen since March 2020, a few days after the COVID market crash. Historically, extremely low miner profitability has been associated with price bottoms.

Demand is Yet to Pick Up

On the other hand, Bitcoin demand growth appears to be stabilizing following a month of deceleration. The rise in the BTC balances of permanent holders and large investors indicates higher demand from these market participants.

Nonetheless, BTC demand would need to surge further to enable the market to sustain the latest price rally. The demand could come from the spot Bitcoin exchange-traded fund (ETF) market and other Bitcoin investment funds.

Per CryptoQuant analysts, the crypto market needs a new wave of spot Bitcoin ETF purchases to refresh demand growth. Demand for these products appears to be picking up already, with the funds seeing total inflows of more than $560 million in the last two trading days.

Additionally, stablecoin liquidity growth is surging, signaling potential movement to the upside for BTC.

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Cryptocurrency

Polkadot (DOT) Ecosystem Recap: The Most Recent Advancements

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TL;DR

  • Polkadot partnered with Founder Institute to launch a Web3 cohort and introduced Asynchronous Backing to enhance scalability.
  • Some of its parachains, such as Acala Network and Moonbeam Network, have also made notable advancements in security, governance, and community engagement initiatives.

Summary of the Latest Developments

Polkadot’s ecosystem continues to advance due to frequent improvements in its operations and vital partnerships. Most recently, the blockchain protocol shook hands with Founder Institute (a leading business incubator that turns ideas into fundable startups). 

The latter described the collaboration as “groundbreaking,” adding that it marks the start of “an exciting chapter” related to the launch of the first Web3 cohort in its Core Program. “Our cooperation is set to revolutionize the landscape of startup acceleration and Web3 technology education,” the team stated

Founder Institute explained that the program’s launch is set for May 28, and it will be guided by top experts from the Polkadot community. 

Earlier this month, the blockchain protocol enabled Asynchronous Backing on the network. It is a mechanism designed to improve the scalability and efficiency of the entire ecosystem. The Asynchronous Backing also represents “an optimized approach for how parachain blocks are validated” by the central chain – Relay Chain.

Polkadot’s team revealed that blocks are produced twice as fast, whereas available blockspace was boosted by 6-10 times following that upgrade.

“Async Backing boosts throughput by 8x, without sacrificing security, paving the way for supporting Web3 applications across verticals such as gaming and DeFi. It brings Web2 scale into the reach of Web3, which is crucial for large-scale platforms like Mythical Games,” they added.

Another major development that took place as of late is the release of the Join-Accumulate Machine (JAM) Gray Paper. It is a technical upgrade that outlines an innovative approach for improving the performance and scalability of blockchain networks, particularly in the context of Polkadot’s ecosystem. It combines elements of Polkadot and Ethereum and “provides a global singleton permissionless object environment.

The blockchain protocol is also looking for external partnerships such as a potential deal with the American soccer club Inter Miami. Last month, Nico Zini – the team’s commercial manager and in charge of TV rights – revealed that both sides may join forces on an $8.8 million sponsorship partnership. 

For the uninitiated, Inter Miami’s co-founder is David Beckham, while its biggest stars on the pitch include the Argentine legend Lionel Messi and the Uruguayan Luis Suarez.

Zini previously served as FC Barcelona’s Business Development Manager in North America. The Catalan club was contemplating striking a deal with Polkadot in 2022 but eventually chose Spotify.

How About the Parachains?

Some of Polkadot’s parachains – individual blockchains that run in parallel with the Polkadot ecosystem – have also advanced lately. One of the most popular – Acala Network – completed the Sinai Upgrade at the beginning of May. 

It aims to strengthen security measures, empower the community to participate in governance decisions, improve Acala’s capabilities to interact seamlessly across different blockchains, and simplify the user experience. 

Moonbeam Network introduced “the Moonbeam Odyssey Program Trials,” which emphasizes community involvement with various events and educational initiatives.

“Anyone can join! Test your skills, strengths, and abilities to emerge victorious from the Trials and become an Odyssey Trailblazer,” the team stated.

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