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So, the most critical non-farm payroll data of our lives (again) finally came in - and it’s not looking good. Hardly a shocker, considering the Orange Man preemptively shouting “fake news” on X yesterday. Business as usual.
For anyone new here, bad economic data like this is bad for the economy, but for us, it’s great. The path to rate cuts couldn’t be clearer now. Odds for the September cut are already at 99%, and with how things are shaping, the next cut should come right after.
We’re already seeing gold and US indices rip to fresh all-time highs while the dollar softens.
On top of all this, check out the stablecoin dominance index. Is it time to initiate sidelined September? Fortunately, we’ve been preparing for this bounce action since Monday.
Going forward, I think it’s not out of the question for BTC to bounce all the way to $117-118k, especially if we close out the week above $112k. But that’s where I would expect another little stallout to happen, IF it happens.
There are still higher timeframe bearish divergences on many charts, and the question now remains whether or not these will get invalidated. Here’s a great example of how strong bear divergence invalidations look, so watch out.
For now, it seems the market wants to punish the majority who endlessly repeated that September is seasonally bearish. Again, there’s still a chance for a bearish weekly close, but as long as things look bullish and BTC holds at least above $111k, I think the ball is in the bull’s court.
Let’s see what happens by Monday. I will be back on Thursday next week, so expect Lavina to take you through it until then. Cheers, enjoy the weekend, my frens.
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The important bits.
Magic Newton distributes a new batch of staking rewards, check yours here
INFINIT August yappe spotlight is out, check here
INFINIT explained in a new blocmaes video, watch here
Almanak reached $40M TVL, read here
Kyan releases new Option Talks episode, listen here
Saga hosts new Saga Vibes Hours spaces, listen here
Mira Network announces the new Voice of Realm reward winners, check here
GenLayer features Rally, the new AI marketing protocol, read here
MegaETH explains how their ENDGAME tech fixes blockchains, read here
Hyperliquid announces a plan to release a native stablecoin, read here
HyperUnit’s bridge assets are covered in a new risk report, read here
OpenSea announces HyperEVM NFT market integration, read here
Even more important bits.
Paul Atkins says they are working to provide "greater certainty" to crypto, read here
Stripe and Paradigm launch Tempo, a new blockchain for payments, read here
El Salvador buys $50,000,000 worth of Gold, read here
Tesla's board proposes a new $1 trillion pay package for CEO Elon Musk, read here
Kraken acquires prop trading platform Breakout by Mayne, read here
Mitch says anyone can make $10k from launching a Pumpfun stream. listen here
Hackers are hiding malware in Ethereum smart contracts, read here
Tether is reportedly eyeing deeper moves into gold, read here
World Liberty Financial blacklisted Justin Sun’s wallet, listen here
Charts and stats of the day.
Solana went from 0 to $100B+ in less than five years, chart here
Pumpfun purchased $12,192,383 in PUMP tokens in a weekly buyback, read here
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Telemetry data of the day.
PumpFun + Heaven + Bonk trending tokens for the last 24h:
If you want to access more of this type of data and trade freshly graduated tokens on PumpFun of Bonk, visit Telemetry here (it`s free).
Kled AI
KLED has been buzzing around the timeline lately, and I think this chart looks awesome for entry.
Kled AI is a nice combo for the AI / Data / RWA narrative, and its $12M market cap seems very sensible and not overvalued for a new project, which is unfortunately often untrue for many others.
Here’s a thesis from Miya you can read if you’re interested. Beware, this is not financial advice, and Kled got fudded by accounts I respect, like Cobie and Agent Chud. But charts are charts, and I’ve seen the ones looking like this turning into very profitable ones.
Source: CoinGecko
To save you doom scrolling.
I agree with this a lot. I believe having a short list of good, undervalued memes attached to a PUMP bull run and Glassfull Foundation is precisely what we need in the meme space.
Concentration of focus and capital, rather than constant dispersion across thousands of new launches. The new age meme meta is born. Pumpfolio. w(Here are my leading picks).
The Pokémon meta is simply dope, and I will continue participating.
Right now, my full focus is on Phygitals simply because I think the potential of the airdrop should NOT be overlooked. They have no VCs, which makes me think they could airdrop 10-20% of their supply to point holders.
Then, if the FDV reaches around $250M to compete with CARDS, we’re looking at a juicy 5-, maybe even 6-figure airdrop for highly ranked point holders.
Join me here, it’s fun. I managed to climb into the top 60 just with $1.5K invested, focusing mainly on opening the $250 and $500 Base Packs.
stay safe homies,
Hix0n 🫡
