ALPHA:
Airdrop alert! Fees.wtf is the painful website that scans your Ethereum transaction history and reminds you about how much gwei you’ve spent on transactions. Ouch. Well today a bit of relief is coming in the form of $WTF airdrops!
MARKET:
It’s been a rollercoaster. Bitcoin started the year by dropping to the bottom of the weekly support region (middle red rectangle), but has also broken the downtrend (diagonal yellow line).
The fundamental analysts point to fed hawkishness and quantitative tightening, but crypto bulls see the opportunity to buy the fear at a key support level. There’s still quite a bit of anxiety at the macro level from 7% YoY inflation and anticipated interest rate hikes, so it’s to be seen whether macro crypto (BTC) resumes the bull market.
Funding rates are starting to tick negative as price recovers, so we could see a short squeeze similar to late September.
I made my single largest investment into $ETH at $2970 because it’s the year of the ETH1→ETH2 merge and new $ETH supply will become deflationary thanks to fee burning and reduced emissions. I am a crypto believer and am putting my money where my mouth is!
NEWS:
Biggest news of the week is Paradigm, perhaps the most successful crypto native VC, is investing in Citadel, a traditional finance company/market maker:
Growth!
Big raise for DeBank!
Mexico is building a central bank digital currency:
Ummmm what?
NFTs:
Did you claim your $SOS or $LOOKS airdrops?
RUGS:
3X audited VultureSwap exploited
REGULATORY:
POD O’ THE WEEK:
My new favorite podcast is Jason Yanowitz (Blockworks) and Santiago Santos (former ParaFi and crypto guru):