GM to my ToE readers. This had been a crazy week with token2049 and thanks to many good people that I have met around.
Macro: Data indicates persisting inflationary pressures globally, leading central banks to maintain their monetary tightening stances for now. But there are nuances between regions, with the US economy showing more resilience and Europe more vulnerability to an economic downturn. Markets seem hopeful for a soft landing, but risks remain elevated.
Trending: Decentralized finance trends like Telegram bots, NFT projects like Milady, drive interest and speculation in crypto markets. Upcoming Telegram bot launches like Rampage, Wand and Fluid Token show the trend continues.
Defi: $BANANA bot relaunch, Farcaster getting good usage, FT talk of the town, Token 2049 alpha, Degen turn popstar at 2049,
Tools: On chain money laundering, Secret bot tools, Twitter security, Sim swapping,
Spicy drama: North korean hackers, PAAL pump and dump, 10 rugs
If you have not read the previous week’s highlight, here it is:
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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
Data indicates persisting inflationary pressures globally, leading central banks to maintain their monetary tightening stances for now. But there are nuances between regions, with the US economy showing more resilience and Europe more vulnerability to an economic downturn. Markets seem hopeful for a soft landing, but risks remain elevated.
Inflation remains persistently high in the US, as evidenced by the larger-than-expected rise in PPI and continued growth in retail sales. This will likely keep the Fed on track for further interest rate hikes to rein in inflation.
There are growing concerns about potential economic stagnation in the eurozone, as the ECB raises rates aggressively but also downgrades growth projections. This illustrates the delicate balancing act central banks face between controlling inflation and supporting growth.
Equity markets continue to hold up well and even rally despite the backdrop of high inflation and central bank tightening. This suggests resilience in risk appetite and optimism that the economy can achieve a soft landing.
The diverging paths of the Fed and ECB, with the former likely to continue raising rates steadily and the latter potentially nearing the end of its hike cycle, are contributing to euro weakness against the dollar. This currency dynamic has broader implications for trade and capital flows.
@arndxt_xo on macro pulse
@EricBalchunas on Ark filed for ETH ETF
@WatcherGuru on Apple losing market share
@C_Barraud incoming inflation
@CryptoKingKeyur on G20 crypto decision
@lisaabramowicz1 EU in stagflation
@GameofTrades_ on macro trends
2. Trending Narratives
Bitcoin bounced back after dipping below $25k, but remains rangebound around $26.5k. Altcoins have lagged, with ETHBTC at yearly lows.
DonAlt turned bullish on BTC due to the altcoin dump. Viktor's framework is accumulating ETH near $1200 and BTC near $20k.
On CEXes, KAS, BCH, TON, VET, RUNE and MKR were top performers. MKR looks undervalued based on price/sales.
OP has outperformed ARB recently, but the trade may be getting risky now. TRB pumped heavily as a cartel coin play.
BananaGun relaunched its $BANANA token after a failed first attempt. Milady NFTs corrected ~30% but could be a buy below 2 ETH.
Upcoming Telegram bot launches like Rampage, Wand and Fluid Token show the trend continues. $NEWS by solid founders looks interesting long-term.
@QuantMeta bullish on friendtech
➤ Major crypto events on September:
11 Sept: $REI - The REI Network network upgrade
11 Sept: $MATIC - Dragon Fruit Upgrade
12 Sept: $UMA - oSnap v.2.0 with Snapshot and Safe
12 Sept: $SWEAT - Sweat Wallet app Launch
13 Sept: $STOS - Token holders can incinerate ERC-20 tokens
13 Sept: $ENJ - Enjin Blockchain Release
15 Sept: $BUSD - DEX-Trade Delisting
18 Sept: $SIDUS - First of His Kind Book Release
19 Sept: $ZEN - ZEN v.4.1 Mainnet Launch
21 Sept: $DSLA - Wallet Beta Launch
21 Sept: $STOS - Stratos Blockchain Mainnet Launch
21 Sept: $XRD - Radix Public Network upgrade to Babylon
➤ Other undated events:
$DYDX - App Chain
$ATOM - Gamma Release
$TON - New TON Space interface
$VET - New Mobile Wallet
$SDEX - New features will be integrated
$FET - Third MOBX Stakedrop
$INJ - Injective Orbital Chains
$ATOM - Gamma Release
@KopremesisE on LSD update
@poopmandefi on top 4 narratives
@insomniac_ac on cross chain monday
@the_smart_ape on ETH development guide
@FourPillarsFP on gaming report
@TheDeFinvestor on cryto watchlist for the week
@wacy_time1 on RWA altcoin
The next bull market will drive even more massive adoption of blockchain technology.
But don't wait for the hype to inflate prices.
➤ Explore a list of #altcoins embraced by major companies, whose technology is already being used in the Real World.
➢ $SOL - Visa launches payments with stablecoins on Solana, potentially bringing many new users to the blockchain.
➢ $LINK - SWIFT partners with Chainlink for cross-chain crypto transfer project.
The PoC utilizes Chainlink’s cross-chain interoperability protocol, allowing SWIFT messages to instruct token transfers across nearly every blockchain.
➢ $APT - Microsoft and Aptos Labs team up on new blockchain AI Tools.
➢ $EGLD - MultiversX collaborates with Samsung, releases blockchain-integrated mobile game exclusively for Samsung flagship smartphones. Partnership has also been concluded with Huawei.
➢ $VET - BMW VerifyCar will publish every vehicle interaction to the VeChainThor public ledger. Deloitte has joined VeChain to develop its own blockchain solution.
➢ $HBAR - Public ledger that uses hashgraph consensus, touted as a faster, more secure alternative to blockchain. Partnerships with Google, IBM and Deloitte.
➢ $ROSE - Oasis Protocol Partnership with Meta to Facilitate AI Computing Applications.
➢ $NXRA - Partnership with London Stock Exchange. Joining the Partner Platform allows AllianceBlock to reach institutional clients through LSEG's Global Innovation Network.
Network infrastructure for financial services transactions.
➢ $MNW - Unlocks new opportunities for Coca-Cola by enhancing product movement security.
As a result, operational efficiency is improved and costs are optimized.
➢ $ELA - Alibaba Cloud benefits from Elastos' open-source Web3 technologies, providing fast deployment solutions.
➢ $CSPR - CasperLabs joins IBM Global Partner Program, granting IBM collaborators access to Casper Network.
➢ $MITX - Ant Group partners with Morpheus Labs to promote blockchain adoption in businesses.
➢ $THETA - ABS-CBN, Theta Labs partner to enhance SEA media and entertainment with Theta video API and digital collectibles.
➢ $UOS - Oasys Games has partnered with Ubisoft and AMD to develop the game Champions Tactics: Grimoria Chronicles.
➢ $OCEAN - Enables real-time medical data transmission from patients' self-monitoring devices to Roche Diagnostics.
@milesdeutscher on FTX asset
@ViktorDefi current state of defi
@ViktorDefi on RWA all time high
@StableScarab LSD summer volume
@apes_prologue weekly alpha
@tomwanhh on merge reduce daily issuance
3. Defi Happenings
Token2049 Recap (not by me):
Friendtech is here to stay. Folks are surprised by the rate of adoption for this new tech and believes that it's in line with bringing in more retail adoption into crypto due to its straightforward use case.
Markets are quiet but folks are starting to double down on airdrop farming.
There were little to no conversations about NFTs/ NFTfi but the Pudgy Penguin community seems to be thriving; floor price holding up immensely well despite the entire NFT market collapsing; they co-hosted an event with Layer Zero and the turnout was pretty incredible with over ~400/500 people at the event. Spoke to a few Alpha members from Nansen and a good friend hung out with Luca Netz - there's some cool stuff coming up + apparently they have a few investors scooping up Pudgies whenever the price falls below X. Overall a really good bet for the NFT market revival.
Monad token dropping next year, testnet is coming up in a few months. Berachain guys are also gearing up for launch soon - however, it has been severely delayed hence the general sentiment is not all positive.
Talks about ZKs and L2s are not as highly spoken of compared to a year ago. VCs/ individuals are not as bullish on RaaS and L2s due to fragmentation of liquidity (main point).
Investors are still in risk-off mode, VCs aren’t deploying. However, there has been more talks about funds pushing for liquid/ secondaries/ MM arms.
Binance fud/ general uncertainty about how Binance will fare over the foreseeable future. Individuals/ funds are starting to take portion of their funds off this exchange + moving into other avenues.
Revival of RWA
Lots of crypto cards/ payment rails - mostly in Europe/ US + some in Asia
Point system/ BLUR playbook is being recycled into many DeFi protocols - esp Solana DeFi protocols (Jito also just launched their points program + many protocols are starting to come up with a similar system).
@redphonecrypto on FT user category
@0xallyzach on farcaster seen all time high usage
@defi_naly on Ponzi schemes
@UBET__Sports on chain prediction
@TheCrowtrades on $15 to acquite SOL
PrizePicks Revenue and Competitors
Base Ecosystem Fund announces first six investments
@jetpippo on metric analysis
@0xSisyphus bullish on FT
@CryptoNikyous on low cap gems
Those Low/small caps have the best use cases atm imo 🤔
$NEWS
$GUISE
$RAVEN
#UNICHAD
$HANDZ
$ABC
$SUPER
$OCD
$RVST
$HOLA
$EMP
$BAG
$CHAMPZ
$ESPR
#OKN
#STEALH
$TOOLS
@BasedRate_ on games on base
@cryptowhail betting coming to unibot
@alpha_pls on bullish friendtech stats
@_FabianHD bullish until the airdrop
@Adscendo_fi on token sale
@const_reborn 4 token model
@WatcherGuru turn BTC into global payment network
@vaultsfyi on chain yields
@0xMughal on FRAX bond
@archipelabro on Thales and gamblefi
@Beacon_Early on MM vs Paypal
@Crayola_Capital shilling FDAO
@TheDeFISaint on emerging players
@cryptobink on $RAKE
@knownothinglabs built no seedphrase wallet
@RealDegenGMX on $BANANA
@0xFinish on Token2049 alpha
@CryptoNikyous on early projects
@Adscendo_fi on their successful raise
@blockscriber on $BLOCK for mac and rev share
@0xNerdBot on smart money accumulating $BANANA
@viksit on @solarplex_xyz PWA
@TokenBrice on decentralized stablecoin
The Evolution of Smart Contract Development
@univaultx is building something very interesting here
@0xGoldenDegen is a popstar at @token2049
@CryptoNikyous on FT alpha
@LyveFinance cancelled presale
@animocabrands metaverse on bitcoin
@defi_pandaa on perps on Mantle
4. Educational resources and tools
@nyahunters on cryptobot lesson
@cryptotriv finding influencer wallets
@splinter0n boom of Telegram bots
@CryptoGideon_ on Etherscan to track
@MatchSystems on Stages of money laundering
@tayvano_ on twitter security
@officer_cia on protection against sim swapping
@eztic0 secretive onchain tools
Crypto, Distilled Investing Strategy:
@InspectorDefi free unique trading tools
@stacy_muur on PvPvE
5. Spicy Crypto Drama
$55 Billion Drained From Crypto Market in August: Report
@ParrotCapital on binance fraud
@zachxbt expose PAAL pump and dump
@zachxbt exposes North korean hackers
@563defi top 10 rugs
Twitter: https://twitter.com/arndxt_xo/status/1703366950607618210
absolute HUGE stack, well done sir