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š Crypto Doesn`t Care Who Wins This Election
PLUS will Raydium flip Uniswap?
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GM, enjoying the election day?
For now, it seems like Bitcoin certainly does. We have a nice higher low being printed as we speak, and we even have the historically most accurate counter indicator Jim Cramer, saying that Kamala is going to win the election.
Yes, things look promising, but brace yourselves for volatility. The best advice Iāve heard this week? Stop trading altogether. Events like these will liquidate plentyāthatās the only certainty here.
As long as BTC holds above $65K on the daily, thereās no need to shift our stanceāremaining long-term bullish is the move. This is just my opinion, not financial advice, but even if we see larger wicks this week, the market will likely stomach those moves and continue upward sooner or later.
Remember, there are bigger forces at play this cycle than just the U.S. elections: global liquidity is on the rise, the market anticipates the Fed rate cut times, and weāre seeing record-breaking spot Bitcoin ETF inflows.
Bitcoin will stay Bitcoin no matter who wins, and the rest of crypto as an industry will just keep churning forward.
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GOAT/SOL Raydium 4H
Goat looks like it could be done correcting here. Any pullbacks now are likely for buying. I will look to snag the purple boxes - either around 50 on the 4H RSI, or prices below 0.54. I thought we might go a bit deeper, but it looks like buyers are stepping in to load up on the OG AI memecoin.
Iām still being a little cautious with buys until the US election uncertainty is fully dispensed with, so no full porting until we know who gets to sit in the White House for the next 4 years.
NFA as per usual, please always do your own research.
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!
Smart-money moves of the day.
Source: ChainEdge
Onchain Attention-score for this week.
Source: ChainEdge
Raydium Smashing Uniswap
When it comes to āThe FlippeningāāEthereum overtaking Bitcoin in valuationāthat story is long gone.
But when it comes to the battle of Ethereum and Solana, fundamental factors are already in place that make us question the outcome.
Take Raydium, for exampleāitās raked in 68% of Uniswapās six-month fees. Thatās something worth paying attention to.
If the main DEX of Solana manages to keep this winning streak, we might be looking at a great repricing event here. The RAY chart certainly speaks volumes here, as well.
At this moment, UNI chart isnāt doing that well. Meanwhile, RAY is sitting at about 4x lesser valuation. Is it time for parity? Letās find out.
The important bits.
Term Labs (DeFi) - Announces Blue Sheets - fixed rates when you want them, without the auction wait, early supporters get 2x Points (first 100K)
Dinero (DeFi) - The incentivized threETH pool is live on AftermathFi
Swell Network (DeFi) - TGE announced for 7th November
SKALE (L2) - Announces upcoming office hours, inviting devs
GenLayer (The First Intelligent Blockchain) - GenLayer can 'FIX' prediction markets
Core DAO (DeFi) - Crypto News explains how Core is transforming Bitcoin
Radix (DeFi) - Rooot Finance is the newest lending and borrowing protocol on Radix
Superseed (Blockchain that repays your debt) - Adds Velodrome to the Superseed ecosystem
Even more important bits.
Kraken received a 25 million OP grant to build Ink on Optimism
Ethereum researchers resign from advisory role at Eigen Foundation
Solana's animal kingdom expands: the story of Peanut
Larry Fink says "we're not going to see interest rates as low as people are
Trump vows to keep 100% of the Bitcoin the US government holdsforecasting."
Strive Asset Management, co-founded by Vivek Ramaswamy, announces itās embracing Bitcoin in Texas
ZachXBT exposes multiple Ai scam projects
Europeās largest Telecom provider to test Bitcoin mining
Charts and stats of the day.
Polymarket guy bet $15 million on Trump
Over $60 million bridged from Ethereum to Solana via Phantom last month
Life gets busy so hereās what youāve missed.
TAO Talk Episode 009
Podcast
This week, in TAO Talk episode 9, 563 and Brody are joined by Ian and Estate Cat from Nickel5 as they discuss the latest developments in the Bittensor ecosystem.
Tune in on Spotify | YouTube ā
To save you doom scrolling.
And that`s all she wrote.
"I have decided to resign from my Eigenlayer advisorship"
Stunning and brave
ā Rex (@R89Capital)
4:01 PM ā¢ Nov 2, 2024
Last touch on this election period drama: I would personally rather focus on the upcoming FOMC happenings, the Bitcoin dominance, and the possibility of it topping out.
These are much more critical factors than which US president ends up sleeping in the White House.
stay safe homies,
Hix0n š«”
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