MARKET:
Some frustration from crypto investors as equity markets have rallied this week, while Bitcoin has lagged and dropped a bit. Crypto did bounce quite hard from the bottom after a major forced selloff, so a retrace is expected.
The big question is whether BTC is forming yet another bear flag, or are we seeing a bottom forming. Open interest is back at Summer 2021 levels, so leverage is up from a couple of weeks ago.
The Ethereum Merge narrative has pushed liquidity into ETH staking tokens like $LDO, $RPL, and Layer 2 tokens like OP and $METIS. The tentative date for the Ethereum Merge is September 19, and the final testnet (Goerli) happens next week.
Ethereum miners have already stated their intention for a contentious fork for the Ethereum Proof of Work chain.
NEWS:
Saylor is out as Microstrategy CEO
Coinbase/Blackrock partnership is big
Gucci accepting $APE
Starbucks enters Web3
Just another $1billion crypto hedge fund
NFTs:
REGULATORY:
RUGS:
Another 9 Figure Exploit - Nomad Bridge
Solana wallets drained
Tough loss for Velodrome team, they will survive
POD O’ THE WEEK:
Interesting Character, Murad, talks Bitcoin and STFX
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