Gm to my lovely readers! Markets been shit but updates still goes on
Macro: Markets remain in accumulation mode after crashing, with adoption news confirming long-term bull case. Short-term choppy but macro outlook moderately bullish. Resilient U.S. job market but with concerning inflation trends. Fed likely still has more work to do in tightening policy to combat inflation, while geopolitical and growth concerns loom over markets.
Trends: Casino has cooled off but new projects are still up and coming. Memecoin mania have done well with new entrants. Legit projects like KASPA are outliers, pumping on fundamentals like exchange listings.
DeFi: Mantle incentives, Solana, eco, Gamble fi projects, MM allowed ETH to fiat conversion, long list of token watch list and early projects
Tools: Cross chain explorer, 5% ROI in 4 weeks, 15 best books to read, FT alpha and useful tools
Drama: Binance implosion, Binance launch tactic, FTX wallet with SOL, Stake exploit, GMBL exploit
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Segmenting the megathread of content into 5 parts:
Macro news
Trending narratives
Defi happenings
Educational resources and tools
Spicy crypto drama
1. Macro News
The data presents a nuanced picture - a resilient U.S. job market but with concerning inflation trends, Apple's China challenges, equity market volatility and defensive positioning, and ongoing high oil prices.
The Fed likely still has more work to do in tightening policy to combat inflation, while geopolitical and growth concerns loom over markets.
The better-than-expected jobless claims data and rise in labor force participation are encouraging signs for the resilience of the U.S. job market. This could give the Fed more room to continue raising rates to fight inflation, without severely impacting employment. However, the downward revision to productivity growth shows persisting inflationary pressures from labor costs.
China's expanding restrictions on iPhone use in government entities is a troubling sign for Apple's business in a key market. This news, along with concerns about iPhone demand in China, contributed to the sharp stock declines for Apple and its suppliers. It highlights growing geopolitical and economic tensions between the U.S. and China.
The stock market declines, particularly in tech, indicate persisting caution among investors. The rotation into defensive utility stocks shows a preference for safety in the current environment of uncertainty. Meanwhile, oil's gains reflect ongoing tight supply concerns, contributing to inflationary pressures.
@arndxt_xo on macro pulse for the week
@concodanomics shift in global finance
@spectatorindex Japan printing
@RaoulGMI on macro situation
@gurgavin Nvidia CEO just sold shares
@trading_axe on ETF approvals
2. Trending Narratives
Overall takeaway is markets remain in accumulation mode after crashing, with adoption news confirming long-term bull case. Short-term choppy but macro outlook moderately bullish.
Bitcoin and crypto markets remain relatively stable, with BTC around $25,800. There have been some short-term pumps on news, but prices quickly retract. This is bearish short-term but could indicate accumulation for a future rally.
Long-term adoption news continues to be positive (Ripple lawsuit, BlackRock/ETH ETF filings, etc). This bodes well for the macro outlook.
In altcoins, gaming cryptos like ENJ, PRIME, and PYR saw notable gains. ENJ launching its blockchain, mainstream TV exposure for PYR, etc are driving factors.
"Onchain casino" summer excitement has cooled off significantly, with major tokens like OX, BITCOIN, UNIBOT 50-70% off highs. But leaders like UNIBOT may come back into favor.
Memecoin mania continues with new entrants, though with less hype than before. Legit projects like KASPA are outliers, pumping on fundamentals like exchange listings.
@asxn_r L2 season
@insomniac_ac cross chain monday
@RealDegenGMX on perp dex overview
@stacy_muur OP stack adoption
@Prithvir12 AI and decentralized networks
@TheDeFinvestor September catalyst
@DeFi_Made_Here BOA RWA narrative
@rektmando watchlist
@cuysheffield VISA stablecoin
@My_SexyLife bullish on perp dex especially on HMX
@leilanibabiez narratives
@hodlovich shares that we should be looking at the bills and legislation rather than ETF approvals
I am digging into crypto-related legislation in the US and I truly think that you should keep an eye on these 6 bills rather than Bitcoin ETFs in Q4. It makes no sense to wait for institutional money without clear regulation.
The Financial Innovation and Technology (FIT) for the 21st Century Act https://docs.house.gov/meetings/BA/BA00/20230726/116291/BILLS-118HR4763ih.pdf
TLDR: Crypto is more commodities than security and should be regulated by CFTC. The bill was sponsored by Republicans from the House Agriculture Committee. Democrats don't agree with the current status of crypto in the bill. I would say this is the most important bill among all crypto-related bills. We might see the results of the vote in the House this or next month but I'm not sure the bill will move to the Senate this year.
Clarity for Payment Stablecoins Act.
https://www.congress.gov/118/bills/hr4766/BILLS-118hr4766ih.pdf
TLDR: a new stablecoin regulation that should replace the current regulatory framework as money market funds (USDC operates under the MMF framework). The vote in the House of Representatives will take place this month.
Keep Your Coins Act of 2023
https://www.congress.gov/bill/118th-congress/house-bill/4841/text/ih?overview=closed&format=txt
TLDR: This bill allows you to keep your internet magic money in your wallets. The bill was approved by the House Financial Services Committee and will be submitted to the House for a vote. The date is unknown.
Blockchain Regulatory Certainty Act
https://www.congress.gov/bill/118th-congress/house-bill/1747/text
TLDR: The bill provides a safe harbor for miners, validators, wallet providers (wallets without staking/swap services). All these participants are not CEXs with custodial services therefore they are not subjected to the same regulatory levels. The bill was approved by the House Financial Services Committee on July 27.
The Crypto-Asset National Security Enhancement and Enforcement (CANSEE) Act
https://www.congress.gov/bill/118th-congress/senate-bill/2355/text?s=3&r=1
TLDR: The bill is aimed at preventing DeFi from being used for money laundering and sanctions evasion. It obligates all DeFi protocols to operate as traditional financial entities and proceed with the same AML/KYC process. This bill was sponsored by Republicans and Democrats and it has the highest probability of getting passed through the Senate this year.
National Defense Authorization Act (NDAA) for Fiscal Year 2024
https://www.congress.gov/bill/118th-congress/house-bill/2670/text/eh?overview=closed&format=txt
TLDR: The bill defines the military budget for the next fiscal year and includes amendments to strengthen regulations on mixers, anonymous coins/tokens, anti-money laundering and counter-terrorism regulation. This is one and only bill that already passed Senate. It was sponsored by Republicans and Democrats as well.
As you can see all 5 bills besides the last one are at early stages. Every outcome of these bills will affect prices for sure.
🚀 DeFi News and Catalysts for September 7, 2023 🚀
Frax Finance is discussing the release of $sFRAX. It'll allow users to deposit FRAX and earn interest (in FRAX) on their holdings.
Uniswap v4 will be live after the Duncan upgrade of Ethereum. Permissionless innovation of DEX pools is the most important upgrade in v4.
Gearbox protocol allows users to add leverage to their Curve and Convex positions. Now you can earn over 100% APY on a few of these pools.
Raft announced the launch of their V2. It introduces two new features: R Savings Rate & Peg Stability Module.
Aave decided to deploy v3 pools on the Gnosis chain. It will have many synergies with GnosisPay and GnosisCard.
Arbitrum DAO is discussing a one-time, community-created program to distribute up to 75 million $ARB. Bullish for Arbitrum protocols.
Celdra, a rollup-as-service firm, introduced the first three dedicated Arbitrum Orbit Chains. Like OP Chains, we might see a lot of Arbitrum L3s coming.
Stargate DAO is discussing its deployment on Mantle & Zora. It'll introduce new users to Stargate and expand the dApps on those chains.
Akash Network adds Nvidia GPUs to its decentralized marketplace for computing. It's part of the mainnet 6 upgrade.
Polygon zkEVM scheduled their first major upgrade, the Dragon fruit upgrade, for September 11th.
KTX Finance will deploy on Mantle soon, you can get around ~130% APR, with ~30% paid in BNB. (They use the GLP model).
Arbitrum released a testnet for Arbitrum Stylus. Devs will be able to write smart contracts in languages such as C++ while retaining the benefits of the EVM. ecosystem.
Krafton, the company behind PUBG, is launching its own Cosmos chain. PUBG has around 294 monthly active players.
Stake, a crypto casino, appears to be hacked. They've lost around 41 million dollars. In 2022, they'd made around $2.6 billion in revenue.
MetaMask added another feature to its wallet: Sell. The users will now be able to cash out their crypto for fiat currency quickly.
Coinbase has created a new crypto lending service in the U.S. for institutional clients. This will fill the void left by now-bankrupt firms like Gensis & BlockFi.
London Exchange Group plans to offer a Blockchain-powered market for Traditional Assets. If successful, this will be the biggest catalyst for the RWA narrative.
@stacy_muur on her watchlist narratives
DeFi is a young and dynamic force, with 8 years of groundbreaking innovation behind it.
The future of Web3 shines brilliantly.
Here are my assumptions on the dominant trends that will shape DeFi in 2024 and beyond ↓
❯ Account Abstraction will pave the way for onboarding the Web2 and CeFi audience to DeFi.
With enhanced user experience, automated and batch transactions, and flexible gas payments, these are just a few of the benefits that AA unlocks.
❯ The emergence of ERC-6551 NFTs is set to create new opportunities for the GameFi market.
By introducing Token Bound Accounts, NFTs can now be disassembled and configured into individual parts. Additionally, they can function as a traditional wallet, thereby increasing their flexibility for adoption in GameFi.
❯ Regulation and compliance maturity
While I am a strong advocate for the permissionless and private nature of DeFi, its long-term sustainability requires regulatory adoption.
By 2024, numerous countries are expected to establish comprehensive cryptocurrency regulations that prioritize consumer protection, market integrity, and innovation. Clearer regulatory frameworks will attract institutional investors and enhance retail investor confidence.
❯ RWA tokenization will foster the onboarding of TradFi to DeFi
The tokenization of real-world assets is set to become a prominent trend, allowing for fractional ownership of traditional assets such as real estate, art, and commodities.
By leveraging blockchain technology, illiquid markets will gain liquidity, providing retail investors with investment opportunities and democratizing access to valuable assets.
❯ L3 blockchains are set to explode
With the recent announcements of Fraxchain and Maker Chain, along with OP Stack and ZK Stack unlocking new opportunities for developers, we can expect a surge in dApps migrating to their own app-specific chains. These L3 blockchains offer enhanced performance and absolute interoperability.
❯ SocialFi is set to revolutionize the content industry
Just as Patreon transformed the game for bloggers seeking monetization, SocialFi, in conjunction with Account Abstraction, will facilitate the onboarding of the next generation of creators into the Web3 world.
The potential models that can be utilized are limitless – ranging from traditional subscriptions to transparent ad revenue-sharing programs.
❯ DeFi yield sharing: A new form of dividends
In 2023, the revenue-sharing model is making a comeback, driving growth in various DeFi applications.
When combined with ve(3,3) mechanics and transparent regulation, this technology has the potential to onboard traditional finance startups and established brands into the world of DeFi.
3. Defi Happenings
@Beacon_Early Mantle incentive program comparison
@dontbuytops on Solana eco
@twindoges new gem finds
@pingugems on gamblefi projects
@WinterSoldierxz friend tech analysis
@CryptoNikyous 10 gem picks
@IndexIndexFT friend tech alpha aggregator
@litocoen casino landscape
@dcfgod on DSR repeg
@CoinSense_App seeking out early tokens
@rezajafery on Vitalik in Reflexer discord
@DegenRutw puffer finance and restaking
@Beacon_Early on rise and fall of gbot
@ProphetBots update on launch time
@Privasea_tech on privacy for data
@0xShual bull and bear for AERO
@jerallaire USDC is a beast in bear market
@QuantMeta bullish on CROWN
@0xdegensbet on launch
@fraudeth_gg cancelled sale
@YouAreMyYield on TNGBL
@asxn_r on makerdao own chain
@CryptoNikyous on 10 launches
@archipelabro plsARB strategy
My top 10 list for playing the on-chain correction 👇
$RLB - generating $5Mn in token buyback & burn per month while trading volumes are at multi year lows. sports season kicking off. accumulating under $0.14
$UNIBOT - getting hit hard with both volume and user count down on top of banana gun competing with a token launch. competition fragments mkt share but imo Unibot can continue to lead with their insane development speed and cultural significance. TAM of entire sector is high and there will be multiple winners. $70's is already a great hodl, sub $60 and you buy with both hands imo.
#HPOS10I - likely won't go down in a straight line without some big bounces along the way. hard to bet on relevance for next cycle so only playing for bounces now. next stop $0.04
$OX - price / volume is pricier than most CEX tokens but people are discounting growth and memeability which are both strong. think it can gain a lot of marketshare in the bull run with zhu and kyle's aggressive gtm strategy. would consider at $0.03
$BAG - revenues down over the weekend but assuming avg of 10k/day in raid+ads revenue for past week is 40% real yield at current prices. very cyclical business model (marketing), will accumulate during slow periods to ride the bigger adoption trend. added more around $0.008 and will keep averaging down
$PRIME - parallel will be one of the first web3 games to fully launch that has a shot at penetrating web2 gaming. TCGs aren't for everyone but they have a strong niche, are simple to pick up, and don't compete with the same level of AAA games as fps/battle royales and rpg games do. would love to see a hangover period after the beta release to bid back at the $2-2.5 range
$PAAL - AI chat bot for projects to integrate into groups. expanding to use their AI models for research and trading via bot coming soon (catalyst). rev shared with token holders. real yield averages $2Mn/year rn (without tax revs and emissions) but bot launch should give it a boost. would like to bid in the $0.02's
#MEVfree - a product ecosystem for MEV protection and privacy with rev share. annualizing ~$1Mn in real revs for tokenholders rn with plans to add ads revenue and launching a sniper bot among other verticals soon. $0.1-0.15 would be nice
$WINR - liquidity layer for decentralized gambling products, sharing rev with holders. 1000x lev perps launching soon. sports betting and own L3 chain planned later this year. the problem is that the emission schedule is very aggressive for first 24 months so I'm only looking to bid oversold levels around the product launches for now. not sure where to bid yet
$DMT - was a fan favorite for a while but fell off recently. looking to play a bounce into their L3 launch with an update expected any week now, keeping an eye on official channels for clues but like the $10-15 range ahead of it
Tokens that performed well during this bear market and still have room to grow to make you money:👇
🔷Telegram bots
$UNIBOT - Leader
$BB - Sports betting
$NEWS - news trading
$PVP, $HIPVP - TG gambling
#MEVFREE - MEV tools
$NEOBOT - wallet analysis
$BAG, $SHIELD - raid
Common thing - revenue share/burns
Keep an eye on these things👀
$BANANA yet to come🚀
🔷GambleFi
$RLB - leader
$DMT, $WINR - L3
$DUBBZ - GameFi sector
$HILO - binary options
$HOUSE - sports markets
$COCO - single & multiplayer
$GMBL - *let's see how it performs*
🔷LSDfi
$LBR - $stETH use case
$PENDLE - yield trading
$ZERO - self-repaying loans
$FLASH - upfront yield
🔷Perp DEXs
$GMX - leader
$GNS - synthetics leader
$LVL - tranches
$HMX - leveraged market-making
$MUX - aggregator
$VELA - UI/UX
$TIG - low fees
🔷Others
$OLAS - AI
$EMP - SDK for tools
$GAMMA - liquidity management
$rDPX, $DPX - LPDfi
#UNICHAD - Autobuy UNIBOT
$BLOCK - Brave browser competitor
$RVF - DEX & CEX hybrid
$GENE - DeSci
$RAVEN, $AIMBOT - AI that trades for you
$HOLA - marketing platform
$PEPE - $DOGE and $SHIBA competitor
$AXE - Stocks trading bot
$ARC - AI
$RDNT - omnichain lending
$GUISE - privacy
$CHOKE - solving impermanent loss
What did I miss?👇
@stacy_muur on endgame for ETH
@M4573RCH running this send 0 eth exercise in return for war3
previous one was for $LOVE
@yieldinator on GHO arbitrage strategy
@OmniX_bot on beta version sneak peak
@valoremxyz on chain options
@S4mmyEth MM rolled out ETH to fiat
@nanobot_trader on Banana bot
@BanklessHQ on RWA
@twindoges gems
@definapkin on Lybra v2
@MonetSupply on Aave and Spark
@cryptobink bullish on LEAGUE
@Beacon_Early Starknet update
@milesdeutscher on diminishing capital
4. Educational resources and tools
@HFAresearch weekly yield farming
@NFT_GOD twitter tips
@const_reborn on bitensor whatsapp
cross chain explorer
@nyahunters warned us of scams
A curated list of 15 books about blockchain, investments, tech, and innovations by a16z ↓
Bookmark and RT for your future reference.
⊹ Virtual Society: The Metaverse and the New Frontiers of Human Experience by Herman Narula.
⊹ Algorithmic Game Theory edited by Noam Nisan, Tim Roughgarden, Eva Tardos, Vijay Vazirani.
⊹ The Hard Thing about the Hard Things by Ben Horowitz.
⊹ The Infinite Machine: How an army of crypto-hackers is building the next internet with Ethereum by Camila Russo.
⊹ Coding democracy: How hackers are disrupting power, surveillance, and authoritarianism by Maureen Webb.
⊹ The Beginning of Infinity: Explanations That Transform the World by David Deutsch.
⊹ Proof of Stake: The making of Ethereum and the philosophy of blockchains by Vitalik Buterin.
⊹ A Graduate Course in Applied Cryptography by Dan Boneh and Victor Shoup.
⊹ Empires of Light: Edison, Tesla, Westinghouse, and the Race to Electrify the World by Jill Jonnes.
⊹ Algorithms to Live By: The Computer Science of Human Decisions by Brian Christian and Tom Griffiths.
⊹ Designing an Internet by David Clark.
⊹ The Man from the Future: The Visionary Life of John von Neumann by Ananyo Bhattacharya.
⊹ A Crack in Creation: Gene Editing and the Unthinkable Power to Control Evolution by Jennifer Doudna and Samuel Sternberg.
⊹ The Idea Factory: Bell Labs and the Great Age of American Innovation by Jon Gertner.
⊹ The Company: A short history of a revolutionary idea by John Micklethwait and Adrian Woolridge.
Big notion list
https://sovs.notion.site/sovs/Sov-s-Compendium-41f097d28dae4d09801f10cde1b2d03b
@thecalcguy on 5% ROI in 4 weeks
10 Dune Analytics Dashboards you need to be using. 📊
These 10 Dashboards contain all the information you need to find your own alpha.
🔖Bookmark this Tweet to access these Dashboards easily in the future.
---------------------------------------------------------
1️⃣ DEX metrics by
@hagaetc
- https://dune.com/hagaetc/dex-metrics
---------------------------------------------------------
2️⃣ Crypto Narratives by
@CryptoKoryo
- https://dune.com/cryptokoryo/narratives
---------------------------------------------------------
3️⃣ LSDFi 💧 by
@defi_mochi
- https://dune.com/defimochi/lsdfi-summer
---------------------------------------------------------
4️⃣ U.S. Government #Bitcoin Holdings by
@21co__
- https://dune.com/21co/us-gov-bitcoin-holdings
---------------------------------------------------------
5️⃣ Ethereum Staking 🥩 by
@hildobby_
- https://dune.com/hildobby/eth2-staking
---------------------------------------------------------
6️⃣ VC trackooor by
@defi_mochi
- https://dune.com/defimochi/venture-capital-trackooor
---------------------------------------------------------
7️⃣ Layer 2 Dashboard: Arbitrum and Optimism by
@blockworksres
- https://dune.com/blockworks_research/l2-comparison-dashboard
---------------------------------------------------------
8️⃣ Proof of Reserves: Binance, http://Crypto.com, OKX, Huobi, Bybit by
@21co__
- https://dune.com/21co/cexs-proof-of-reserve
---------------------------------------------------------
9️⃣ 🔵BASE Mainnet by
@TKVResearch
- https://dune.com/tk-research/base
---------------------------------------------------------
🔟 zkSync Airdrop Simulation Ranking by
@SixdegreeLab
- https://dune.com/sixdegree/zksync-airdrop-simulation-ranking
@FungiAlpha on yield farming
@spvce_ on friend tech alpha
FREE useful tools to stay ahead of the game👇
Part 2
Bookmark so you don't forget them
🔷Impersonate wallet & access their dapp stats👨💻
@apoorvlathey
🔷Monitor your LP performance & manage it⚙️
@revertfinance
🔷Find stablecoin farming pools & #airdrops🪂
@stable_fish
More👇
🔷DeFi wars(liquidity/peg wars)⚔️
@defiwars_
🔷Track DAOs, governance proposals, activity...👀
@tallyxyz
,
@DeepDAO_io
🔷Track whales🐳
@WhaleStats
🔷Upcoming events/launches(calendar)📆
@ApeOClock
,
@CoinMarketCal
🔷Web3 extension for X💻
@inspectxyz
🔷Token unlocks🔓
@VestLab
🔷Overal crypto analytics📊
@intotheblock
,
@Footprint_Data
🔷Hot contracts🔥
@hotcontracts
,
@Artemis__xyz
🔷Token listing aggregator on top DEX & CEX🔭
@ListingSpy
🔷Track wallets & get notifications🔔
@apelikedotcom
,
@etherdrops_bot
,
@CieloFinance
🔷News📰
@CryptoPanicCom
@RektHQ
@Blockworks_
@PeckShieldAlert
(security)
🔷ICO & IEO Calendar🗓️
@ICODrops
🔷NFTs(news, trends, activity...)🖼️
@NFTNerdsAI
@TraitSnipergame
@athalert_bot
@catchmintxyz
@NFTbank_ai
@cryptoslamio
@Uniq_cx
@DegenzNFT
@icy_tools
@nftgoio
@NFTScoring
@g_three_ chat with Degen spartan
@0xCrypto_doctor indicators to watch for next bull run
5. Spicy Crypto Drama
Binance news implosion
@RhoRider FTX addresses with SOL
@coinmamba reveals Binance launch tactic
@LouisCooper_ on GMD eco
@officer_cia on Stake exploited
@dcfgod on GMBL exploit
Exposes some linkage
Twitter: