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- 📗 ETH Flows are About to Hit Green!
📗 ETH Flows are About to Hit Green!
PLUS this DeFi 1.0 pick is a kingmaker!
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GM, the nostalgia is in the air.
This is especially true for those who’ve stuck around during 2022, marching through the fire of the first macro news cycle bear market, eagerly tuning in to the FOMC Wednesday show.
Once again, the entire financial world is on its tippy toes, waiting for old Jerome to step on stage, promising price stability and revealing which button he plans to push.
It’s likely none—rate cuts are expected no sooner than September, with markets betting on a 100% chance of the first cut.
Back in the crypto trenches, ETH's strength is continuing to show. Today, we’re seeing more ETF inflows on BlackRock's side for ETH than in their BTC product. First day of positive flows, anyone? It’s definitely coming very soon. And that’s also what brings to Luke’s chart for today, after yesterday’s MKR pick, which already went out way.
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AAVE/USDT 1M Binance Log Chart
In keeping with the run of Defi 1.0 charts, today we have the AAVE monthly—the 10/20 MA cross triggered in January. Since then, the price has not moved much, but we are seeing very nice compression happening as the price sits on top of both MAs and high timeframe support (red line).
The stochastic is coiling up, too, and RSI has been curving gently upward, having never dipped below 50 since price history began.
The current monthly candle has been buoyed by news of a proposed fee switch, removal of slashing for stakers, and more. This all looks to me like we are building up to a huge run back to all-time highs and way beyond.
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!
AAVE - The DeFi 1.0 Kingmaker
Let’s continue on this topic. Not only does the AAVE chart look exactly like what you’re looking for to take a seat and ride for the rest of the bull, the fee switch is what will most likely confirm its comeback.
The fee switch is still at the temperature check proposal stage. It’s highly likely holders will approve it, but it will take some time to activate.
Once the fee switch is activated, AAVE stakers will receive rewards from the protocol’s revenue, paid in the GHO stablecoin. Another part of the new mechanism includes a token buyback, continually supporting the AAVE price.
The big question: How much revenue will stakers get? Considering AAVE is one of the most profitable on-chain businesses, this could make the AAVE token one of the most desirable assets out there.
The important bits.
Avalanche (L1) - California DMV is launching its own chain on Avalanche - read
Movement (L1) - Connects to Polygon’s Agglayer - read
Bittensor (AI) - Announces Tatsu integration on subnet 192 - read
Swarm Markets (RWA) - Burnes 50M SWM tokens - read
Rage Trade (DEX) - RAGE raised $6m, sold out in 6 minutes - read
Even more important bits.
Starknet is struggling, lowest volume of all chains - read
BlackRock has more flows to ETH today than BTC - read
Russia legalizes mining and approves the use of crypto for international payments - read
Trump's campaign raises $21 million during the Bitcoin conference - read
CEXs are akumulating MOG at an increasing rate - read
Life gets busy so here’s what you’ve missed.
Research
A handful of the team have been playing around with ReadySwap Bot lately and are convinced it's the best on the market.
The active users and volume are flying, so it seems we're not the only ones.
To save you doom scrolling.
Blocmates mog since the start, simple as 🫵😹
All of a sudden, the market shifts more and more bullish again. Never underestimate how quickly these shifts can happen. When times are darkest and everything feels like it’s about to fall apart, that’s usually when you just wait it out—because that’s how bottoms feel.
I can tell you from my own experience that panic selling after the market carnage already happened never pays off. Never.
stay safe homies,
Hix0n 🫡
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