🌊 Buckle Up, Here Comes the Altcoin Wave 2

🗞 Market commentary.

Grand morning!

And so, the memecoin week continues. Is there anything important happening besides memecoins in this industry?

Well, for one, the infrastructure to onboard yet another retail wave is now being established through a partnership between Revolut and Metamask. The new product, Revolut Ramp, enables ETH top-ups directly from users’ Revolut accounts. 

Speaking of exit liquidity, it is interesting to note how venture capital fundraising is significantly lagging behind the price of Bitcoin this time. Overall, this is yet another testament to the saying that this time might truly be different since it’s also the first time Bitcoin has gotten this high before its halving.

The enduring bulls and bear market-positioned believers are currently rejoicing, as we can clearly see we survived the time-based capitulation needed to restart our beloved altcoin markets. Actually, we are already in the midst of altcoin wave 2, as presented in the chart from our friend and OG analyst Madz. Hold on to your hats and keep this chart at hand; it seems there’s still a lot of fun to be had ahead of us.

At the same time, heed the short-term warnings of perhaps one of the best Bitcoin quants, Eric Krown, who points out the possibility of a short-term retracement to under $60K, but only if we see a daily close below $64,000. Overall, these markets are everything but bearish.

📊 Luke’s Chart of the Day

$WHALES is a top-tier product this cycle and $1bn market cap is easily doable. FDV is a meme. This thing has been ruthlessly sold until today, probably by early holders who got in (quite recently) around 10c. Lots more high-value airdrops coming that will be traded here - high rollers who can’t be bothered to click buttons for money will make farmers liquid. It’s an ongoing and in-demand trade in this bull market that this venue is built to cater for.

$30-$40 is programmed. Screencap this.

🔥 Degen corner.

There Simply Isn’t Enough Computing Power

Just as there aren’t enough bitcoins for billions of people, there aren’t enough GPUs for the Matrix and our future AI overlords.  

Now might be the time to take aim at io.net. Not only did this AI compute-as-a-currency network building on Solana just raise another $30M, but it stands very, very well positioned to emerge as one of the main names to shine during the inevitable AI and DePIN mania.

Fortunately, there might be a way to position in advance through an upcoming airdrop. I am personally completing the Galxe quests and following the officialio.net tweets.

👀 DeFi insights.

The important bits.

• Clone Protocol (Cloned Assets) - Launches Clone pool on Solend - read 

• MixMob (Gaming) - Partners with MadLads - read 

• Renzo (LRT) - Partners with Luganodes - read 

• HXRO (DeFi) - Reveals big updates on Spaces - read 

• Florence Finance (RWA) - Presents “Yield Bearing Stablecoin Revolution” - read 

• OKXExchange (DeFI) - Will use Algebra DEX Engine - read 

• Scroll (L2) - Releases Parallel ZK Virtual Machine whitepaper - read 

• Stride (Rollchain) - Partners with Celestia - read

• GuildFi (Gaming) - Teases upcoming releases - read

📰 DeFi news.

Even more important bits.

• BarrySilbert's DCG files to dismiss Attorney General’s lawsuit - read 

• Egypt's pound is today down over 50% - read 

• Anti-Bitcoin Senator prosecuted for hiding gold bars - read 

• Crypto liquidations reach $1B, highest since 2021 top - read 

• Layer 2 TVL reached $36B - read 

• Bitcoin’s ‘kimchi premium’ hits two-year high in South Korea - read 

🫠 ICYMI.

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

To LARP or Subscribe? The NFT Benefits

Article

LARP mint is almost here! Catch up on all the info you need right now:

Read More →

🐥 Tweet of the day.

To save you doom scrolling.

Peter Shiff at it again, shilling his gold. This time he is selling you bars on Bitcoin Ordinals.

🦍 And finally…

The seemingly long-forgotten Ethereum NFT space is currently showing an interesting hand. If you look closely, it's evident that last week’s strongest collections all belong to the Remilia ecosystem, including Milady, Remilio, and related collections, such as Schizoposters. 

If you want to learn a bit more about Milady, I can’t recommend the lastStill Early episode and the latest Charlotte Fang interview enough. Enjoy!