Humans do always love a pattern, and if it let’s us repeat a trodden path? Even better. Comparing Bitcoin’s current price movement to the 2013 bull run gives us an eerie familiarity. A strong argument in favor of the recent drops being a period of accumulation before attacking new all-time-highs.
That being said, we’re going to face some significant selling pressure soon enough. Here is the plan I am following, though it’s not certain we have a clean break through $40k yet.
Tightening of regulations are the big talking point of the week, Senator Warren stated that the SEC needs to publish clear regulations and expects them to do so quickly. We’ve seen Binance lower the daily withdrawal limit for non-KYC accounts to 0.06 BTC and CZ has even stated he is preparing to step down in favor of a CEO with regulatory experience/background.
- Amazon: Publicly denied the rumours of accepting BTC payments and developing their coin. Seems it was just some bullish FUD to help fuel the short squeeze this week.
- Tesla: Q2 earnings report confirmed that Tesla has not sold any of its BTC position this quarter. While Elon Musk had already confirmed this, given his trolling relationship with the crypto community… we couldn’t be sure.
- Goldman Sachs: Filed for a DeFi ETF investment product, looks like the big banks are truly moving into decentralized finance.
- Tezos: Launched a global grant program to support grassroots developers and creators, looking to fund anyone from beginner developers, students, to experienced teams. Looks like Tezos is trying to emulate the success of hackathons on Solana and Binance Smart Chain?
- Harvest Finance: FARM will be listed on Coinbase Pro, should bring a lot more eyes on the anonymous team developing cross chain vault strategies. Learn more about Harvest and FARM token in our article here.
- Aave: The institutional arm of Aave known as Arc will be launching within weeks. This product will focus on providing institutional investors with KYC requirements with an onboarding process for DeFi yield products.
- Yield Guild Games: Seems the whales believe this is the next Axie Infinity? As soon as YGG token’s sale opened on Sushiswap’s MISO Launchpad, 32 whales bought up the allocation in just 31 seconds. Wow!
- Raydium: Anyone actively providing liquidity in Raydium to farm RAY tokens on Solana, take note of the following upgrades tomorrow. You will need to migrate liquidity to continue earning rewards.
- Alpha Finance: Launched tiers for ALPHA stakers, this new feature enables users to access higher leverage yield farming positions depending on the amount of ALPHA staked. Check out our full thoughts on Alpha Homora here.
- Dego Finance: Celebrating its 1st anniversary in style with some NFT mining campaigns, get ready for 19th August! Amazing to see how much DEGO built in 1 year, check out our little introduction article… already a blast from the past.
- Yearn: The V1 vaults are officially coming to an end, it’s now time to migrate any remaining funds over to V2. As they’ve put it: migrate or die.
- Tidal: Launched their mainnet on Polygon. Tidal Finance is the first flexible DeFi insurance platform, letting users subscribe to smart contract coverage for protocols. StaFi, Xend Finance, Marlin, EasyFi, and bZx are the first clients.
Be sure to check the listing to view the digital crypto artwork in its full glory, as some art is animated or contains audio.
… inner greediness
Shape of inner greediness. A visualisation of the feeling existing in each of us, but hiding under the upper pretending cover.
- Shopify: Announced merchants will be able to sell NFTs directly through their stores. A big move for increased mainstream adoption as this makes it extremely easy for purchases, no need to understand non-fungible tokens or cryptocurrency at all.
- DeFine: The NFT social platform raised $5M through strategic investors based out of South Korean, namely Huobi Ventures. Should enable a big expansion across the gaming and entertainment industry.
- Zerion: One of the popular DeFi portfolio tracking tools for Ethereum now supports NFTs, and the team also did a surprise drop, a set of digital artworks created in collaboration with Nikolay Ironov. Very cool!