The bull hopium appears to still be intact despite the weeks of range-bound price action, Pantera Capital CEO Dan Morehead predicted the end of 2021 will see BTC trading between $80,000 to $90,000. Well… I’ll be happy as soon as we get back about $50k!
The recent downtrend was very aggressive on the lower time frames, so expect the move upwards to be just as fast? Bounce is at $37k, and I don’t see any major resistance until we get back up to $41k. A bullish reaction at that level would be very good for further upwards momentum.
Meanwhile, Andre Cronje shares thoughts on audits, and why in their current form are being done wrong. He may have a point, our news is filled with exploits today.
- Miami: Launched MiamiCoin, which enables people to invest in the city by buying the coin. It will be used to fund infrastructure projects and events, if it takes off then it will allow holders of MIA to earn yield in BTC through the stacks protocol.
- Bitcoin: Google is finally dropping its ban on advertising crypto products such as exchanges and wallet providers. Good news for attracting the next wave of retail investors!
- BSV: Suffered a massive 51% attack which is succeeding in causing re-organization of the blockchain. Looks like someone is seriously trying to kill off Bitcoin SV, and many exchanges have paused trading of the asset for the time being.
- Binance: Maybe things aren’t as bad as we thought? Despite all the regulation scrutiny, the exchange announced a new partnership with Shopify to bring native BTC payments to the e-commerce platform. Bullish!
- Sense Finance: Announced the team has raised $5.2M to bring a new dimension to DeFi with the Sense V1 platform. The financing was led by Dragonfly and saw many prominent VCs join in (Bain Capital Ventures, Nascent, Variant, Robot Ventures, and theLAO). One to watch!
- Popsicle: Suffered an exploit to all its ETH-AXS, ETH-SLP, ETH-LINK, and EURt pools for ~$25m. Popsicle is a Uniswap V3 LP optimizer, according to Mudit Gupta (Sushiswap dev) the hacker used a bug that had already been reported in June.
- DeversiFi: Launched a layer2 bridge to Polygon, claims it will be the best bridge into the ecosystem ever. Currently, users can transfer USDC, DAI, and USDT instantly from their DeversiFi wallet on Ethereum to Polygon. Plans to add more L2 networks in the future.
- dYdX: Now has its governance token to incentivize trading on the platform, and it is being retroactively airdropped to users. Volume has jumped up massively since the announcement, and expect traders to stay as dYdX currently has one of the best UIs for an on-chain derivatives DEX. Perhaps we see some competition from Solana-based DEXs in the future such as Mango Markets? But for now, dYdX is the clear winner.
- Orakuru: If you’ve been holding ORK through its downtrend, well pat yourself on the back for having those diamond hands. Next week you can start earning MATE rewards by farming with ORK-BNB liquidity on Pancakeswap. Mate will be a limit order DEX powered by Orakuru’s oracles. Exciting!
- Wault Finance: Suffered a flashloan attack on WUSD, the attacker was able to make away with $800k. The good news it seems that the USDT collateral is still secure, and the protocol’s treasury will be used to cover any shortfall with WEX buybacks.
- Legal DAO: Yearn and Curve have started a proposal to launch and fund a Legal DAO, which will fight against proposed bills/laws that harm the DeFi industry. Very cool!
- Orca: The Solana-based Orca AMM revealed plans for its own governance token, the token will be distributed through fair launch to liquidity providers and traders. So get using the 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.
“Gravity is a short film I made in 3D but with a 2D aesthetic. The story follows an astronaut in a journey of discovery.“
- Volume: For the first time weekly NFT trading volume has gone over $300 million, mid-July we saw a week that did $209 million. Seems we will keep smashing NFT records as the industry continues to grow!
- CryptoPunk: Check out this new tool for judging a punk’s value, the cryptopunkexplorer lets you filter by key attributes to make shopping for your punk easier.
- Hedgie: The NFT game developer of Hedgie has been scammed out of $1M in NFTs, a stark reminder that you can never let your guard down in the world of crypto. There is never any reason to give out your seed phrase!
- Axie: Looks like the game will soon have over 1M active users, a crazy amount of growth for the short amount of time. Check out our guide on earning money by playing Axie Infinity here.