📈 Is the bull run back?

July 18, 2022

Inflation hits records highs, $MATIC pumps and $BTC is at a key resistance areaMates, here is your weekly Catch Up to start the week offBut first.....If you missed the Friday DeFi Happy Hour where we ask the tough questions and give the ape answer on Is USDC really back? Who gets 3AC's NFTs? & Disney accepts Polygon?

Market Recap

Ladies and gentlemen, are we now seeing the breakout that we have all been waiting for? $BTC on the daily is starting to look healthy but by no means are we out of the ice bath just yet. As big earnings continue this week and the FOMC meeting looms, will this pump be short-lived? A lot happened last week in crypto, inflation hit records highs (again), $CEL "misplaced (lost)" the keys to a wallet containing 35,000 $ETH, OpenSea laid off 20% of their staff, and $MATIC is being used for Reddit Avatars and Disney has accepted them into their accelerator program. Soon we see Disney memes running rampant across the Polygon ecosystem!Will the USA fed follow their Canadian counterparts by increasing rates at this up-and-coming FOMC meeting by 100 points? Or keep to their already increased 75? It will be interesting to see how the market reacts especially if it has not been priced in and if we have unexpected positive earnings during earnings season could we have a mini (very very small) bull run? 

Bitcoin Daily Chart (July 18th)

The Big News of the Week

  1. $MATIC continues to pump on the news of more major adoption announcements. It looks like the Polygon business development team is crushing it right now. Will we see them in the next up-and-coming Disney film? That's our big question!

  2. The FED could increase rates by 100 basis points at the up-and-coming FOMC meeting after Canada came out of nowhere and hiked rates by a full percentage point. Short-term pain for longer-term economic gain? Thats the big question we will have to wait and see.

  3. Circles stablecoin USDC in "Thursday's report shows that Circle held $42.1 billion in U.S. treasury bonds...The remainder of the company’s reserves, $13.6 billion, is reportedly stored in cash"

  4. Did OpenSea fall victim to the bull market and the demands users placed on them as they look to cut 20% of their workforce?

  5. In other news Blockbar will be auctioning off Karuizawa’s “The Last Masterpiece 1970″ whisky NFT from the last 50-year-old cask. Bidding starts and $75,000.

On The Bloc

This week Brandon Lewis, a rising MMA superstar, joined Jedi & Chadmandan on the podcast to talk about all things MMA, Crypto and Gaming. Yes Brandon is a HUGE DOTA 2 player and we are looking forward to getting a game or two in with him.Ape into and Subscribe to the Blocmates YouTube below

Hot Off The BLOC

Recession? - not for amazing as they sell over 300m items during Amazon prime day. Looks like retailers are quick to snap up a bargain despite economic uncertainty.

UK Heatwave - the British public brace for record-break temperatures and sends out weather warnings whilst the rest of the world gets on with life with hot temperatures.

Love Me Tender Elon - Elon, the King of Twitter, almost aped in and bought the company but in a u-turn, decision has decided to retract the offer and will settle the issue in court.

Catwalk in the Metaverse - Supermodel Karlie Kloss Brings a Virtual Runway to Roblox, strutting her stuff and bringing big bags into the virtual world.

Alpha BlocThese are on our watch list for this coming week and remember to do your own research: $AURA, $RDPX, $GMX, $VELO and $UMAMI.

Until next week mates,

Blocmates signing out

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