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Winter has turned to summer, mass Lambo orders incoming
It appears that a humble intern at Cointelegraph inadvertently triggered what could be the next bull market by mistakenly tweeting confirmation of the BlackRock ETF.
After months of a stagnant market and many predicting further declines, that tweet catapulted the market out of its indecision, leading many to realize they were unprepared for the ETF launch.
Narrative of the Week: Where Are We?
The recent rally in Bitcoin's value to over $35K, triggered initially by a misleading tweet and fuelled later by speculations around potential approval of a Bitcoin spot ETF in the U.S., highlights a bullish sentiment in the crypto market despite underlying caution due to speculative trading and regulatory uncertainties
The market's positive reaction to the courts favoring Grayscale Investments' ETF application and the SEC's decision not to appeal, alongside BlackRock's ETF application progress, underscored the heightened anticipation and its impact on investor sentiment
Despite the rally, a noticeable drop in Bitcoin blockchain transaction activity over a month, and the dominance of derivative trading over spot trading suggest the rally is more speculative rather than driven by fundamental economic activity within the Bitcoin network
The trend of smart money moving away from holding stablecoins to buying positions in Bitcoin indicates a risk-on appetite among market participants, hinting at the early stages of a potential bull market
Are you convinced this is the beginning of the next bull market?
Bitcoin Weekly Outlook
Bitcoin Weekly Outlook
After a bullish weekly close above 28.3k, BTC went on a rampage throttle to fill CME gap at 35k
Weekly trend and momentum is now BULLISH
Crypto Total Marketcap
We've been consolidating in this range since May 2022
It's more likely that alts rotating into BTC for BTC ETF FOMO than a new capital injection
$HAY created by Uniswap founder five years ago has surged to nearly $4M, after founder burns burned 99.99% of the supply, leaving just 56 tokens in circulation
Evidence emerges of 3AC founders and founder of CoinFlex using creditor assets for personal use
Celestia airdrop recipients will have their allocation go up significantly after the redistribution of unclaimed tokens
Lightning Labs has launched its Taproot Assets protocol on the main network
Maestro bot exploited
Cipher Core, the Arbitrum competitor of Friendtech, sees soft rug as developers jump ship
Vitalik invests in Nocturne Labs, which aims to bring private accounts to Ethereum
Project Spotlight: Celestia
Celestia’s genesis block will launch on October 31st, and additionally, they have also recently introduced Blobstream. Why is the crypto community eagerly awaiting Celestia and how is it poised to redefine the playing field? Let's delve into it
Modular Design: Celestia uses a different design compared to traditional blockchains, separating tasks into different sections. This design can help solve common problems like slow transaction speeds, high security, and keeping things decentralized
Investor Support: With big investors backing it and a lot of funds raised, Celestia has strong financial support to continue its work and reach its goals.
In summary, Celestia is important as it addresses core challenges in the blockchain space. It provides solutions to improve how data is handled and accessed, making blockchain operations faster and more efficient
Blue Chip and Majors Overview
Maker’s annualized revenue hit a new all-time high of $203M, driven by a rise in deposits of tokenized real-world assets for minting its stablecoin DAI
Solana has been one of the top-performing majors in the last few days, seeing a rise of almost 40%. However, despite experiencing significant price appreciation, key fundamental metrics like DeFi TVL have not experienced a corresponding increase, resulting in a notable rise in relative pricing
Inflows to Scroll have slowed down. In comparison to the launch of previous L2s, the TVL is disappointing. This could be a great time to bridge and use some of Scroll’s protocols for the future airdrop
$LINK has experienced a resurgence in the last few days, with its market cap surging to $6B and its token price appreciating around 48%
Liquidity is flowing into the market, with smart money actively taking positions and implementing strategies to maximize their earnings. There are valuable lessons to be gleaned from studying these strategies and familiarizing yourself with the mechanics of DeFi strategies and the tools employed by traders, including bots
Patrick details a great yield strategy on JitoSOL for Solana. A simple but yet effective DeFi strategy for Sol holders
A major part of the next bull market will be quick entries and exits as coins pump and dump. Users should become familiar with the tools the pros are using to perform these trades, with that being said check out the latest upgrades from Unibot
Pendle Intern details a useful strategy to hold assets such as wstETH, WBTC and tBTC but still earn yield through Pendle and crvUSD
Tokens such as SPX, JOE, and Starlink have seen their market caps increase substantially in the last few weeks. Smart money has been taking positions in these tokens in varying sizes. A great platform to follow these developments is Chain Edge, developed by On-Chain Wizard
Fan.tech has been built on Mantle and currently has a tiny TVL of $100K. This protocol is worth monitoring in case Mantle gains substantial traction
Canto continues to put in new recent highs, increasing 48.9% in the last two weeks. The ecosystem has seen a lot of attention turn to it with the introduction of RWAs
As pointed out by Emperor Osmo, Bitcoin DeFi protocols are experiencing significant growth, with TVL reaching $190M. It might be worth investigating the ecosystem and its protocols prior to the chaos that comes with bullrun conditions
Royal is evolving its mission to bring artists and fans closer together through shared music ownership. They plan to explore new technologies and decentralization to enhance this connection
Night Run has launched on the Epic Game store for free
The AI World Fair, organized by Verse Digital, took place in Decentraland from October 25-27. It featured experts from various fields like Web3, gaming, fashion, art, and robotics who discussed AI-related ideas and opportunities
The Y00ts Ethereum bridge is now live
Pepe Memecoin sees $5.5M burnt tokens resulting in 31% spike
Sudoswap introduce Sudoshort
Axie Infinity the Rare Era in Lunacia has concluded, and the Epic Era is now live
Blur continues to dominate NFT trading volume, this is likely due to the anticipated airdrop in November
Project Spotlight: Forge
The platform secured $11 million in seed funding led by Makers Fund, BITKRAFT Ventures, and Animoca Brands, with participation from other investors
Key investors and industry leaders, including Riot Games, are backing Forge to support its mission
Users can create Forge profiles by linking their online gaming and social accounts, allowing them to earn rewards based on their gaming activity
Forge is now available in beta, and players who join have a chance to receive a limited edition founders badge
Blue Chip Overview
The recent market surge has given a notable lift to the NFT market. Yet, there is still uncertainty regarding whether NFTs will experience comparable gains in the forthcoming days and weeks.
Party.app now allows party creators to earn a share of the ETH contributed to their parties, with this feature available for all new parties created on the platform
Starter Packs, Web3's Storytelling Incubator, is seeking 20 music artists interested in sharing their stories on the blockchain, providing a platform for blockchain-based storytelling support. Artists are encouraged to apply now for this opportunity
Follow this thread to learn how to become eligible for the Memecoin airdrop
The inaugural book archiving CryptoPunks is set to launch in the Fall of 2023, in a collaborative effort with Zakgroup. This book aims to uncover the unexplored narratives of the collection by engaging the enthusiastic community to contribute towards documenting the legacy of Punks. Check it out here
Animoca Brands, in collaboration with Amber, is launching the first official web3 Formula E video game, "Formula E: High Voltage,"
Check out this thread by Raiden that details how to prepare for five potential future airdrops from upcoming NFT games
Are you actively collecting NFTs or playing NFT related games?