👻 BTC Must Hold This Level, or Ghost Month Awaits:

Become your own bank.

ether.fi Cash is the real-world spending product we DeFi natives have been waiting for for so long.

It’s time to ditch your bank altogether and embrace the crypto life:

• Spend it directly with no fees on the sale, and earn 3-5% back on every purchase—debit or credit.

• Never sell - live like a billionaire: avoid taxes, compound wealth. Don’t worry about on-and-off ramps or taxes by spending against your balance as credit debt. 

• Pay off your debt with yield + cashback: earn 9% on stables, 7% on ETH, 2% on BTC, with HYPE and SOL on the way.

• Use borrow mode: 70% LTV against your whole portfolio, “only borrow, never sell”

• Keep self-custody, earn big yield, and never pay for instant withdrawals or have your money stuck in a CEX again.

GM, let’s hope Tom Lee is correct again.

While we try to decipher all the possible outcomes of weekly macro events, the billionaires are buying billions of ETH at a time using simple trendlines. I guess it was always that simple.

As for BTC, we’re at a critical point here. It’s of the utmost importance not to lose $108k, and (at minimum) reclaim $111k for bullas to have a chance. If this doesn’t work out, I guess September truly has a chance to turn into a ghost month. I would say chances for a solid bounce from here are definitely in the positives, though.

What’s interesting here is that historically, these price movements in relation to ETH trying to break out into price discovery are very common. Check out this comparison to today’s movements.

Oh well, at least we’re flushing out the froth out of this market, with Fear&Greed Index firmly back in the fear territory.

Yesterday, we mentioned SOL as the next possible outperformer, with a likelihood of more treasury company news announcements appearing. Fast-forward to today, Pantera Capital announces plans to raise up to $1.25B to convert a public company into a Solana investment firm. It’s pretty clear by now that SOL won’t let ETH steal all the limelight.

Nevertheless, it might be time to be a bit careful from here, even though markets likely bounce soon. The most profitable Hyperliquid whales are now bearish, which has to mean something (you can use this tool to track them here).

As for macro, we want to see global liquidity growth outrun debt growth from here. I will keep an eye on Jamie’s updates here. Global liquidity must show the way if we wish to see the last hooraah.

To summarize, I would say there’s nothing much to be afraid of, except possibly having to stomach another period of chop, with possible downside to low hundred-keks, before the restart is complete.

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The important bits.

• Plasma offers exclusive rewards on Binance Earn, earn with USDT here

• Tari announces two big upgrades for desktop and mobile, read here

• Almanak presale is almost finished, join here

• Jumper offers reward points boost with Hyperbloom, join here 

• Stargate’s STG is now converting into ZRO, read here

• Sophon explains how it solves consumer crypto, article here

• Kyan releases the Monday Alpha newsletter, read here

• YieldBasis announces cbBTC as one of the first pools, more info here

• INFINIT AI agent protocol explained in new blocmates article, read here

• Shadow Exchange is now the #1 app on Sonic, earning the most rewards, read here

• HyperBeat introduces dnTokens, Tokenized Delta-Neutral Strategies, read more

• PumpFun introduces the Pump leaderboard, check it out here

• Hyperliquid will use 99% of revenue for buybacks, read here

• Arbitrum is positioning itself as the RWA chain, explained here

• Nillion’s “Blind Computation” explained in a new blocmates article, read here

• Dinero launches pxSOL incentives on Solana, join here

• Tapioca announces leadership changes, read here

Even more important bits.

• Elon Musk's xAI officially sues Apple and OpenAI over antitrust violations, read more

• Axel Bitblaze explains what happens if Strategy blows up, read here

• Prediction market platform Kalshi has hired crypto influencer John Wang, read more

• Treasury company ETHZilla announces a $250M stock buyback. read more

• Trump fires Fed governor Lisa Cook, official announcement here

• Metaplanet koins FTSE Japan Index, continues to stack Bitcoin, read here

• Bitwise has filed an S-1 with the SEC to launch a Chainlink ETF, read here

Charts and stats of the day.

• Bitcoin ETF's are on their longest outflow streak since the tariff fears, chart here

• There’s now $2.2B worth of tokenized gold sitting on ETH, chart here

• Over the last 48 days, the US Federal Debt has surged by +$1 trillion, chart here

• U.S. Stock Market hits its most expensive valuation in history, chart here

Telemetry data of the day.

PumpFun + Heaven trending tokens for the last 24h:

If you want to access more of this type of data and trade freshly graduated tokens on PumpFun of Bonk, visit Telemetry here (it`s free).

Undervalued DeFi bets IV: Inverse Finance.

Inverse Finance, a fixed-rate money market protocol, caught my eye here at a $31M market cap. It’s an OG DeFi project from 2021 that, unfortunately, suffered from incurring a lot of bad debt, spiraling into a long period of rebuilding and repaying.

Fast-forward to the present: All the bad debt has been repaid, the protocol is making $11M in annual revenue (!), and multiple bullish catalysts are ahead, such as the Monolith release (read more here) and a vote to turn on revenue sharing/buyback strategy for INV stakers.

I think it’s highly undervalued at this tiny market cap, while making revenue comparable to billion-dollar protocols (second largest after Maker/SKY) and skyrocketing TVL. Plus, no new token issuance is expected; FDV sits at $35M. Of course, that’s just me, not financial advice, DYOR, etc.

• OpenEden (RWA) - Introduces HODLer bonus mechanism

• Flaunch (Fixed launch price launchpad) - Covered in blocmates article, read here

• Yzi.Ai (Yield-bearing AI stablecoin)

To save you doom scrolling.

As you probably noticed, blocmates were early again. Now that Fooball.Fun is experiencing it’s first dip, it’s time to read and learn:

I sure hope we’ll see BTC carve out a bottom around $108K. Here’s Jim Cramer’s prediction for September to keep your spirits up.

Survive the rest of Q3 and thrive. That should be our main goal from here.

stay safe homies,

Hix0n 🫡