After the classic Bart pattern highlighted in Wednesday’s issue, Alameda Research started to talk about the bottom is in and they were back to doing what they do best: buying crypto. So the bear market is over?
Let’s not get ahead of ourselves, with the weekend here and lower volume could see some of the price inefficiencies of this pump being filled with a sudden drop. But the bears have struggled hard to sink the price much lower than 29k, so my thoughts are if we now see 30k becoming a rock-solid support then we will get out of this crab market soon enough. Meanwhile, the ETHBTC weekly chart looks very bullish.
It keeps printing higher lows and is above a traditional weekly resistance/support zone. Might help keep ETH over $2,000 this weekend? Would be nice to see.
PSA: Recommend you don’t interact with any unknown airdrop tokens, some sort of exploit/hack happening where users approve a token to trade it on Uniswap and then find their wallet drained. Though it might just be bad coding by RUNE’s erc20 implementation.
- Elon Musk: Speaking at The B Word conference, we found out that SpaceX has already bought BTC, and he is personally holding Bitcoin, Ethereum, and Dogecoin. It’s also quite certain that Tesla will start accepting BTC payments again soon enough. What a rollercoaster!
- European Union: The plot thickens or the media FUD is drying up? Apparently, the EU is not looking to ban anonymous crypto wallets at all.
- Stellar: Reports are coming out that the international payment network MoneyGram might be acquired by Stellar Development Foundation, which could be a very bullish event for XLM if the takeover does happen.
- ThorChain: Oh no… the network has suffered a second multi-million-dollar attack within a week. This is not looking good for RUNE investors, definitely an asset you could look at shorting down to zero at this point.
- Stock Tokens: Gary Gensler, SEC Chairman, stated that tokens mimicking stocks on exchanges or security-pegged stablecoins do need to report to the SEC. Might mean we see some rapid delistings, and will be interesting to see if any DeFi synthetic stock tokens on DEXs take note of this.
- Saber: Now has a stable pool for SRM, a great way to start farming SBR tokens if you’re already bullish on Solana’s growing ecosystem! APY is currently around 13%.
- Arbitrum: Reddit has decided to scale its community-based point tokens with the layer 2 solutions Arbitrum, this is a very promising release for increased adoption of L2 scaling.
- Badger DAO: Interest Bearing Bitcoin is now available on Solana, users can farm SBR by depositing in the ibBTC/renBTC pool on Saber. Plus we should see an increase in rewards for Convex Finance vault users soon!
- bZx: Is now using SushiSwap for all its trades via Fulcrum instead of Kyber, this saves users a massive amount in gas fees. Bullish for BZRX and SUSHI?
- Element: Now supports DAI deposits, meaning yield seekers can rest easy with a fixed APR for their stablecoins. Very cool!
- UniCrypt: Announced a partnership with MEXC Global, which aims to onboard more projects into using UniCrypt’s liquidity locked launchpad service, along with UNCX being listed on the exchange. Learn more about UniCrypt’s DeFi suite in our full review here.
Be sure to check the listing to view the digital crypto artwork in its full glory, as some art is animated or contains audio.
The battery boy.
- 1inch: Teasing some sort of new NFT collectible, potentially for early users or INCH liquidity providers?
- DEGO Finance: New trading competition where the #1 trader will earn a mythic NFT, this is part of a wider campaign called NFT Olympics by Treasureland. Lots of platforms are participating, with many collectible prizes to check out! Learn more about DEGO token in our review here.
- Aavigotchi: Meme contest starts tomorrow! Chance to win GHST tokens which you can use to buy some collectibles for your Aavegotchi. Learn more about the NFT inspired Aave game here.