Looking at Monday morning’s price action, we have to call the speed of Friday’s evening BTC pump for what it was: manipulation. Freak volume appeared and pushed BTC out of its daily range towards $43k. Remember when an asset goes up too fast, well a swift drop is always on the table.
If $39k doesn’t hold, then a drop-down to the daily 20EMA level looks more than likely.
Meanwhile, the next FUD on the menu is South Korean, reportedly 11 crypto exchanges out of the region will be shutting down over their involvement in illicit activities. However, the two biggest platforms Upbit and Bithumb are not on the list, so it seems these are smaller exchanges that may have been floating the rules? The full list is not out yet.
- Ethereum: Everyone appears bullish on ETH as the EIP1559 upgrade date comes closer, scheduled for 4th August. Will provide a better user experience, along with helping rollups, and increase the security of the network. Whales are banking on a price increase due to the deflationary change, millionaire tier wallets hold over 39% of the total supply.
- Infrastructure Bill: Many crypto organizations believe this bill in the US is a big threat to the industry. Given the broad language used to define a broker, it means a lot more entities will need to follow strict reporting rules. Senator Wyden tweeted out that it seems the Senate doesn’t understand how blockchain works.
- PayPal: Is reportedly hiring over 100 new crypto positions as global adoption is on the rise, doesn’t look like they’re scared about tightening regulations at all. Bullish!
- Cardano: Hoskinson stated that users will finally be able to deploy smart contracts in September. Will be very interesting for ADA’s future price action, as much of the coin is staked in validators, anything that locks up circulating supply will translate into buy pressure.
- Crudeoil Finance: Nice vault for CAKE holders on BSC, single staking at 150% APY, much higher than Pancakeswap’s auto-compounding vaults. The platform has been audited by Certik and Techrate.
- Lido Finance: Published a roadmap to decentralization on how they plan to achieve trustless Ethereum staking. Learn more about LDO token in our full review here.
- Alpha Finance: Now over 125M ALPHA is staked, an increase of 10M in just one week, note that stakers don’t only get rewards from protocol fees. Stakers will also have access to Alpha Launchpad, with the first incubated project being Beta Finance.
- Harvest Finance: Possible DeFi strategy for stacking rewards if you’re a FARM token holder, you can now use your iFARM as collateral in Rari lending. Meaning you could borrow some USDC to put back into a stablecoin vault and increase your FARM rewards.
- Pickle: Launched three new jars that provide strategies for Abracadabra Money+Sushiswap/Curve users. These jars will compound your rewards into your LP position: SPELL-ETH, MIM-ETH, or MIM-CRV. Learn more about the PICKLE token here.
- Marinade Finance: Scheduled to launch today Monday 2nd August, a decentralized staking platform for SOL, which should help bring more liquidity to DeFi protocols. Users who stake via Marinade will receive “marinated SOL” tokens meaning their liquidity is not locked up.
- Raydium: The AcceleRaytor pool for LIKE token is open today, this is a lottery-style launch so you may not get an allocation. Only1 is an NFT-powered social engagement platform on Solana.
- Twirl Finance: Announced a partnership with Pyth Network to integrate Pyth’s oracle price feeds onto their mainnet release. Meaning the accuracy of prices used by Twirl Protocol will be protected from downtime and manipulation attacks, important as Twirl is a lending/liquidity platform.
Be sure to check the listing to view the digital crypto artwork in its full glory, as some art is animated or contains audio.
“A Manipulative Vampiress”
“A Manipulative Vampiress” magically raising the dead to seek vengeance on the river town below.
- CryptoPunks: Complete and utter punk mania has taken hold of the crypto industry after one whale bought 88 CryptoPunks in one go for $5.5 million. And the whale used MiningDAO to communicate directly with miners to submit the buy transactions directly into a block, thus skipping any bidding war. Learn more about the first NFTs on Ethereum here.
- DeRaceNFT: A virtual horse racing universe powered by NFTs and DERC tokens. Players will also be able to breed horses with different characteristics, trade in the marketplace, along with owning a hippodrome. Looks promising!
- Dinox: More details released around this upcoming dinosaur play to earn game, think this could be a strong Axie Infinity competitor. One to follow!