🤔 April Full of Airdrops and... FUD?

🗞 Market commentary.

GM to all airdrop hunters, this is our month.

April is shaping up to be quite boring and choppy, or so it seems so far, even though the historical halving awaits us on the 25th. Eric Krown offers a good overview of the historical price action around Bitcoin halving: Long story short, get patient, we might stay in this price range for a while.

Fortunately, there’s always something to look forward to in crypto, and today, it’s possibly one of the biggest airdrops to date – Wormhole. For those eligible, check here and enjoy the good old money from the skies. Also, I’m hearing speculation about Monad airdrop for W stakers? Personally, I’m keeping a portion.

Airdrops might carry us through a speculatively FUD-heavy April, which kicked off yesterday with news about the US government moving 30.1K BTC ($2.1B) of Silk Road hack funds. As we know, FUD comes in waves, so I personally wouldn’t be surprised to see more, including ETF outflows like yesterday’s Ark Invest $87 million, overtaking GBTC.

📊 Luke’s Chart of the Day

Klima DAO Weekly

Rumors of Klima’s death were apparently greatly exaggerated. The presumed-extinct OHM fork is showing big signs of life. The hope of saving the planet with ponzified carbon credits is a flame that never went out for the team. Good for them, and the chart looks pretty great - lots of volume coming in, and rumors of a move to Base are afoot. For now, all that means is a liquidity pool, but it seems logical that they would move wholesale, given they’re on virtual ghost-chain Polygon, and saving the planet requires rapid mass adoption - the kind that is fated for the Coinbase L2.

Come by the Lucky Luke Discord channel for comments, to roast my picks or to pump your own bags. All banter is welcome any time!

🔥 Degen corner.

L2s? Don’t Forget MODE

After yesterday’s Ethena airdrop, all the Remilios, Miladys, and Schizoposters are rejoicing. What’s next? Let’s check back on Mode Network.

Mode is, put plainly, the best shot the Optimism Superchain ecosystem has at creating something akin to Blast—an L2 with a rich ecosystem and native yield. After all, Mode received a ~$7.7M grant from Optimism.

If you’re new to MODE, you can easily join and bridge here to get the first point batch.

For those already bridged, take note of all the new quests (scroll down here) and protocols. I have a feeling the MODE airdrop is going to be juicy. You can be in the top 0.7% with just $14K bridged. The airdrop is confirmed for April and will yield 5% of the total supply.

👀 DeFi insights.

The important bits.

• Tensor (NFT market) - Announces end of Season 3 - read

• Aerodrome (DeFi) - Lists MOG and other memecoins - read

• Celestia (DA) - Announces Blobstream solution for Arbitrum - read

• DYAD (DeFi) - Announces airdrop for Milady, Wassies, and more - read

• MOG (Memecoin) - Announces ETH <> Base bridge - read

• FjordFoundry (Launchpad) - FJO, LBP, TGE & airdrop details - read

• Redacted Cartel (DeFi) - apxETH now on Penpie (47% APY) - read

• Ethena (DeFi) - Airdrop claim is live - read

• Beradrome (Berachain LRT) - Partners with Wagmipad - read

📰 DeFi news.

Even more important bits.

• Munchables updates on lockdrop refunds - read

• Wallet containing $2B of DOJ-seized bitcoin sends a test transaction to Coinbase Prime - read

🫠 ICYMI.

Life gets busy so here’s what you’ve missed.

The Future of NFTs? ERC-404 on AVAX

Podcast

Grant is joined by 0xMoonbags to talk all things AVAX ERC-404. The two kick things off by breaking down 404 and the future of NFTs. 

Tune in on Spotify | YouTube →

🐥 Tweet of the day.

To save you doom scrolling.

I simply have to highlight CBS again. The lad is extremely crafty at explaining market psychology, and I cannot recommend reading and watching all he offers.

🦍 And finally…

A lot of people are currently stressing about the memecoin pullbacks, especially on the Base chain. If you’re one of them, you have to know for yourself if the meme that you bought is part of the strongest branch. Do they have a strong social media presence, an active community that spams Telegram and its timeline, and long-term support from big and reputable accounts? Then it’s probably not a time to be anxious but to think about strengthening your position.

Strong names will most likely rebound, but we always need to watch closely and do our background checks. That way, we’re not throwing darts but actually using memecoin fundamentals to gauge our probability of success. Also, consider heeding Jedi’s advice.