If we see a weekly close under $32,200 that indicates to me we’re finally losing the current range. Given volatility is low and BTC is already trading at the range low, then without some sort of surprise bullish news, expecting that we continue the downtrend and crash through $30,000. There are some sizable bids at the low 28k, and the CME gap near 24k could be very interesting.
Whale Alert flagged some ancient BTC moving this week, after a 9-year hold, surely this whale is going to dump? Perhaps PayPal increasing their crypto buying limit up to $100,000 might give us a little retail boost, but I wouldn’t bet on it.
- FTX: In an interview with Financial Times on July 14th, CEO Sam Bankman-Fried stated that buying Goldman Sachs or exchanges such as Chicago Mercantile Exchange (CME), was not out of the question.
- Binance: New regulatory concerns for the exchange as Italy states Binance is not authorized and possibly Hong Kong too. Would say it’s important to note that Visa and Mastercard are happy to stick with the exchange despite all the big UK banks ditching them. If the card issuers did abandon Binance, then that could be a catalyst for a bearish event.
- Ethereum: The London upgrade is confirmed and ready to happen on mainnet, scheduled for August 3-5, 2021. Remember these are the changes that make ETH a deflationary asset.
- ThorChain: Suffered an exploit resulting in the loss of ~4000 ETH worth of assets, the team has stated that affected users (mostly LP providers) will be made whole via the use of treasury funds. What’s crazy is the attacker paid $1.4m in slippage fees to get out quick, so Nodes, LPs, and Arbers did make some bank!
- Harvest: Announced V2, which is a complete visual overhaul, making it easy to explore farms across Ethereum, Binance Smart Chain, and more. In partnership with Zapper, the new UI will also include zap in/out for depositing liquidity immediately into the pool. Exciting stuff! Learn more about Harvest Finance and FARM token here.
- Hop Protocol: Pretty excited about this platform, Hop Protocol, which enables instant transfers between different networks. The first hop bridge is for USDC, which users can send between Ethereum, Polygon, and xdaichain. No more waiting for bridges to confirm transactions!
- TokenSets: Set Protocol is live on Polygon, bringing DeFi automated asset management to the sidechain. Should work quite well as there is now a lot of liquidity on the network.
- MetaMask: Announced the wallet is ready for the upcoming Ethereum EIP-1559 upgrade, which provides improved UX for users.
- Bonfida: Launched perpetuals on Solana, called the Audaces Protocol, it’s also the fastest liquidation engine ever built on-chain. The protocol can liquidate all positions at risk as fast as a Solana block time ~400ms, so make sure you keep to your risk management strategy!
- Saber: Liquidity mining is now live for Saber’s stablecoin pools on Solana, farm SBR tokens by providing USD, BTC, or LUNA liquidity to the protocol.
- CREAM: Andre Cronje put forth a proposal for iceCREAM, which resembles oSUSHI, a change inspired by how CRV and veCRV work for voting rights. If it goes through, then CREAM holders will start to earn protocol fees. Learn more about CREAM here.
- SushiSwap: Interview with one of the team’s core devs Gasper, lots of cool alpha in this talk such as Gas-less swaps, expansion plans for BentoBox, and decentralized limit orders V2. Learn more about SUSHI token here.
- Kukuswap: New DEX on Kucoin’s chain, not much info about it right now, native token is KUKU. Might interest those of you leaping into this new KCS’s smart contract network.
Be sure to check the listing to view the digital crypto artwork in its full glory, as some art is animated or contains audio.
Remember the Titan
Audio Visionary part 5 – Time to leave the Earth.
- Nifty: Launched an NFT-focused social media platform with $10 million in seed funding, first partnership is with Warner Bros. to feature a collection of characters from the Space Jam universe.
- Sorare: The blockchain-based fantasy soccer platform announced a funding round that raised $532M, many of the biggest teams out of Europe such as Bayern Munich or Juventus have already launched NFTs through the platform.
- WazirX: Announced as the biggest drop of the season, WazirX NFT Marketplace and the Sunburn Festival drop are coming soon. No dates yet, follow their social media for updates.