This week was packed with LSD hype around LBR while macro sentiments are feeling slightly uncertain with the issues around debt ceiling and market liquidity is dying up.
Macro: Debt ceiling will make or break the market sentiments. Market is now pricing a 33% probability of rates hike.
Trends: Gaming is catching some wind, LSD have been a hot topic. Meme season seemed to have died down as we see a shift back to fundamentally sound projects. Catalyst that are pushing some narratives include: Metaverse Apple WWDC event, HK crypto retail trading, OP bedrock upgrade, LSDs
Defi: Sei Network getting the attention of threadoors, A whole lot of early stage project mentioned especially LSD projects (I have WL for Equilibria Presale, DM me if anyone is keen!)
Tools: Open source TradingView indicator, OG whales identified, ETH staking tools, onchain wallet hunting guide
Spicy drama: Ledger FUD
If you have not read the previous week’s highlight, here it is:
Hope you enjoy the content, and feel free to connect with me on Twitter here.
Segmenting the megathread of content into 5 parts:
Macro news
Trending narratives
Defi happenings
Educational resources and tools
Spicy crypto drama
1. Macro News
U.S. stocks gained this week as optimism grew around a potential deal to raise the debt ceiling. Without a deal, the U.S could default on its $31.4 trillion USD debt as soon as June 1. On Friday, however, it was reported that debt ceiling talks had broken down.
U.S. Markets Rise on Debt Ceiling Deal Optimism
U.S. stock market indices rose this week on the back of increased optimism that President Joe Biden and congressional leaders have made progress and are moving closer to securing a deal to raise the U.S debt ceiling. House Speaker Kevin McCarthy suggested that a deal could be agreed to before the end of the week, with Biden cutting short a trip to Asia in an effort to prioritize the negotiations. On Friday, however, it was reported that debt ceiling talks had broken down.
Without a deal, the U.S could enter a default on its $31.4 trillion USD debt as soon as June 1, which could have detrimental effects on the markets and global financial system.
Investors' expectations regarding the next Federal Open Market Committee (FOMC) meeting in June have shifted throughout the week, following U.S. central bankers signaling that they see interest rates remaining high or moving even higher given the rate at which inflation is slowing. The market is now pricing in a ~33% chance that the Fed will increase rates at the June 14th meeting, up from 10% a week earlier.
@arndxt_xo worried over US financial market conditions
@nickgerli1 on Bank Credit Crunch
@CryptoAlphooor on US debt ceiling situation being used as a tool to correct markets and then raising debt ceiling; printing money.
@Rewkang on New crypto regime in HK starts June 1
"Currency devaluations typically occur abruptly during debt crises that are separated by longer periods of prosperity and stability."
@Liscivia_ on liquidity drying, debt ceiling coming
2. Trending Narratives
From @crypto_linn - Projects to Watch:
Parallax: Currently in Beta on Arbi, expanding to Polygon and OP, LSDfi narrative coming, good real yield ponzi/tokenomics.
Aura: Cross-chain expansion to Arbitrum coming.
Alkimiya: Blockspace capital markets
JAY: A lot of worthless NFTs, ETH taxes increase JAY ETH backing at a greater rate than JAY supply, will oscillate as arbed with JAY/USDC pool. Smart ponzinomics to accumulate a little extra on your ETH + meme factor.
Renegade: Previously mentioned in other newsletters, big VC backing, dark pools DEX for privacy.
Entangle: Louround recently posted an interesting thread on Entangle. Definitely one to keep an eye on/add to the watch list.
@TheDeFinvestor Weekly Alpha
@apes_prologue Weekly Alpha
@dennis_qian MDMA
@ChrisRomanoC on RLB and gambling narrative
@abdullahbumar on Superchain thesis
@definapkin shows you what VCs are looking at
@QuantMeta on 4 narratives to watch
@0xTindorr finds early projects without tokens
@nay_gmy shares YTD performance for various crypto sectors
@Moomsxxx on whale holdings
3. Defi Happenings
@rektdiomedes on May update
@FungiAlpha 16 projects
@the_smart_ape on Sei Network
@Flowslikeosmo watching 6 arb projects
The Case for Player-Driven Economies
@AlphaOmelette on Led Money; decentralised stablecoin based on energy
@crypto_condom on Railgun; swap & use DeFi privately.
@Moomsxxx on Curve’s crvUSD
Find the unroll here
@misaflips on RWA
@WinterSoldierxz on Mav protocol
@0xsurferboy on Native Fi; be your own dex
@the_smart_ape on Bitcoin guide
@CryptoNikyous on 10 undervalue LSDfi projects
@DigitsCapital shares how he plays ETH staking
@schizoxbt on Curvance
@blocmatesdotcom on VirtuSwap
@HyperliquidX Order book perpetual DEX on the Hyperliquid L1
@Penpiexyz_io IDO on Camelot
@asymmetryfin Market-leading yield with an #LST
@SmallCapScience on Chronos and Thena
@NintendoDoomed on Mufex; A revolutionary perpetual futures DEX that combines the advantages of CEX and DEX
@0xFinish on Bitdao proposal where Mantle overtakes it
@BLOCKPULSEBOT shares that DWFlabs dumped SSV
@0xsurferboy on 5 projects that recently raised
@Entanglefi supercharging LSD
@matrixthesun shares TVL is back to fundamentals
@ICO_Analytics shares that Neon Labs is on Coinlist for token sale
@Karrot_gg cool project about rebasing
4. Educational resources and tools
@arndxt_xo on how you can use Bard for your crypto research
@defi_mochi on 3 wallets that frontrun elon tweet
@thalamu_ open source trading view indicator: OI weighted average price
@francescoweb3 digging up BTC onchain analytics
@vinvin_100 on OG whale wallets
@0x_Neural on Arca profits
@crypto_linn on Blockpour to find alpha
@stacy_muur tools to track wallets
@Louround_ on accounts you must follow
@tickertrackerio stock tracker
@DegenSpartan shares staking resources
@0ctoshi guide on finding smart money
@0xFinish on 10 free on-chain tools
5. Spicy Crypto Drama
@k06a on Ledger FUD
@0xCygaar on PSYOP token
