🤜🤛 El Salvador Gets a New Bitcoin Buddy

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Bhutan, a tiny kingdom tucked in the Himalayas, is now the fourth-largest government with Bitcoin holdings. 

Few subtle flexes: 

• Its stash — currently worth over $780 million — equals almost 1/3rd of its GDP

• It is ahead of El Salvador, which holds 5,876 BTC worth $331 million

• Bhutan is the second nation to officially hold BTC

• The accumulation ain’t a result of seizures, but rather a well-thought-out mining reform

Bhutan has mining facilities constructed across various locations. The operations are run by state-owned Druk Holdings.

Bhutan’s mines are likely associated with Bitdeer. It is worth recalling that the mining giant announced last year that it will help the Bhutan government to establish crypto mining operations in Southeast Asia. In fact, it had also amassed over $500 million to propel the same. 

Small country governments like El Salvador and Bhutan now have the steering in their own hands, while giants like the US are still stuck in reverse, clueless about how to move forward. That’s the power of decentralization. That’s the power of the orange pill. 

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IO/USDT 1D Binance Log Chart

It looks like IO.net is shifting momentum with a strong daily candle today. All eyes on its daily and weekly close.

The asset’s price has been walking down the VWAP Value Area Low, which is confluent with the high timeframe volume profile support (red line). The log downtrend looks like it will break up soon.

RSI (middle pane) moving above 50 as the Awesome Oscillator (bottom) flips bullish is a high hit rate entry signal frequently used by guys like Cold Blooded Shiller.

NFA as usual, please do your own research always.

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!

Web3 Communications Protocol WalletConnect is gearing up to launch its native Connect Token [WCT] on Optimism. Registration doors for the WCT airdrop will be opened on Sept. 24. 

The eligibility structure will be based on use of the WalletConnect Network. The initial supply is set to be capped at 1 billion, with 185 million tokens set aside for the first season of the airdrop.

You will not be able to transfer tokens initially. The team plans to enable that functionality later via community governance.

Interestingly, the WalletConnect Network has registered a 240% growth over the past year and has fostered over 150 million connections since launch.

The important bits.

• Phantom introduces ‘Usernames‘ to help users send crypto and sync accounts

• Aerodrome becomes the largest on-chain BTC market by volume

•  Liquid restaking protocol Puffer launches UnifiAVS

•  Lens Protocol to tap on Avail's data availability layer

• ZK technology developer RISC Zero unveils ‘Boundless’ — a verifiable compute layer 

• Eigen Foundation opens claims for EIGEN Season 2 stakedrop

Even more important bits.

• All 5 SEC Commissioners to testify before Congress

• No details, just tokens: Trump leaves investors guessing on World Liberty's future

• Singapore’s DBS Bank to launch OTC crypto options trading 

• New York restaurant Flyfish agrees to pay $750,000 and settle with the SEC over NFTs

• Sui Network ties up with Circle to integrate USDC

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

How Bitcoin is Changing Lives in South Africa

Podcast

Herman joins Jedi to talk about the adoption of Bitcoin as a MoE in South Africa. They also touch base upon the challenges faced and why BTC is perceived as digital gold rather than a means of payment.

Tune in on Spotify | YouTube 

To save you doom scrolling.

In the name of the Holy Spirit, Amen.

Someone shelled out 48.40 WETH (worth $110,789.54) to buy the ENS domain name ‘trump.eth’. Dumb move or genius? Guess only time will tell!

stay safe homies,

Lavina 🫡