So Alchemy exists?

Gold flash crashed this morning. Perhaps someone discovered how to mint more supply?

While many are laughing about Peter Schiff losing money while crypto is pumping, it’s better to take a step back and look at the why. Sharp selloffs in gold and silver are because traders believe monetary tightening by the Feds is coming sooner rather than later. Spurred on by the strong jobs report, the US economy added 943,000 jobs in July which is much more than economists expected.

Analysts are pointing towards accumulation patterns to show that this rally is only in its early stages. But if the Feds do start talking about tapering, then Bitcoin and crypto will also see the selling pressure, so keep that in mind! What I will say is that when an asset breaks to the upside after a 3-month range, then dips are for buying.

Crypto News

  • Infrastructure Bill: Make sure you’re following how this bill voting unfolds, as the final outcome will probably cause some crypto market volatility.
  • Xiaomi: Announced it now accepts Bitcoin payments in Portugal, this smartphone maker recently overtook Apple in market share. Hopefully, adoption in more countries soon enough?
  • Binance: And more regulatory concerns around the exchange as their Binance US CEO resigns after just a couple of months in the position. Honestly, some big red flags for Binance lately. I’ve moved 100% over to FTX for trading, recommend you do the same.
  • Cardano: The Alonzo testnet is now fully public and supports smart contracts. Developers can start testing out their plans for ADA, eyes on the mainnet launch date!

DeFi News

  • Alpha: One of the new benefits for ALPHA stakers is that you will automatically receive tokens from projects incubated by the team, first up is Beta Finance. Here is how the distribution works, bullish for ALPHA token! Learn more about Alpha Homora platform here.
  • Arbitrum: A is for August and A is for Arbitrum? Expecting to see a lot more development and releases on this Layer2 solution as the team announced over 400 projects have received mainnet access.
  • Pincubator: If you’re looking to get into new token sales from the initial seed round, be sure to start following Pincubator. As they put it: where alphas are born!
  • Orca: Will airdrop over 5 million ORCA tokens to nearly 10,000 addresses tomorrow, will include a full list of eligible addresses also. If you’ve been providing liquidity then your wallet will surely be included.
  • Beyond Finance: Will release its Beyond DEX Mainnet 1.0 today, which has gone through a successful audit by Certik. This will be a synthetic asset trading protocol, where you can earn rewards for staking the native token BYN.
  • Port Finance: PORT token is launching on AscendEx, Serum, and Raydium. Port Finance is a lending protocol on Solana that will provide users with a full suite of DeFi products. One to research!
  • Moonpot: A new platform on Binance Smart Chain launched by team Beefy, Moonpot is a lending platform and game in one. Meaning users deposit crypto to earn interest and also a chance to win the prize draw. You can also buy POTS token to earn a percentage of the protocol’s revenue.

NFT Spotlight

Be sure to check the listing to view the digital crypto artwork in its full glory, as some art is animated or contains audio.

Pizza Alchemy

solid metal spheres morphing into full pizza boxes

NFT News

  • CryptoPunk: One collector was able to flip a CryptoPunk NFT for a 1,000,000% return in less than 3 years. Buying the punk for $443 of ETH back in November 2018, it was then sold for $4.4 million on the 6th of August. Incredible!
  • PawNFT: New protocol that enables you to take out a loan against NFTs, via active auctions. This means you can borrow against your collection or earn fixed rewards. Very cool to see more use-cases for NFTs.
  • SushiSwap: Don’t forget about Shoyu, their upcoming NFT marketplace where 2.5% of fees will go to xSUSHI holders (stakers). Given how multi-chain Sushiswap’s dev team is, expecting the marketplace to release on Polygon and Fantom.
  • Audi: Announced it will be minting its own NFTs via the xNFT Protocol, these will be very limited edition collectibles.