🤌 The Most Important Narrative Shift: Are you Aware?

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GM, the Age of Crab continues. 

We’re nearing the magical line of 62,000 on Bitcoin, above which we can feel a lot safer. Nevertheless, I don’t think we should spend the rest of our summer days in fear even now.

Judging by the fear and greed index, many participants are frightened—the fear levels are the highest we’ve seen since the depths of the 2022 bear market. I guess they watch all the fear-inducing clickbait crypto videos? Who knows…

Is this justified, though? Or is this just a symptom of a comedown after a big drug like ETF-fueled pump we’ve experienced since the start of the year, and honestly, since the start of 2023?  

In my opinion, this is an absolutely perfect mid-cycle crisis, which prepares the floor for the next run chart-wise and prolongs the bull run duration. 

As we dodge the chop, let’s take a moment to appreciate DeFi 1.0’s strength. AAVE is crushing it, and it seems the market is finally waking up to the fact that tokens with fully diluted supply, real product-market fit, and active revenue share are one of the few solid plays left.

The meme “supercycle” is now most likely ending (I mean, look at this), with only very few memecoins surviving and thriving further (my bet is Mog to become the SHIB of this bull). 

The liquidity will find its way to safety and low-risk opportunities. Maybe, just maybe, we are at the beginning of a DeFi season…

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Let’s Mine Some Good Old Crypto

Tari just announced that their one-click miner is close to release. I personally came to crypto in 2017 and never experienced the era of good old home mining since the market was already super competitive. 

Tari is bringing the vibes back at the moment and I’m signing up for the waitlist, so if you want, feel free to join me here.

The important bits.

• Tari (L1) - Sign up for the one-click miner release - read

• Persistence One (DeFi) - Explains their Bitcoin-building ventures - read

• Core DAO (Bitcoin DeFi) - Explain the “Risk-Free Rate Staking” for Bitcoin - read

• Infinit (Abstraction of DeFi) - Introduces the DeFi Abstraction Layer - read

• GammaSwap (DeFi) - TGE Set for August 30th - read

• Optimism (L2) - Plans L2 hard fork, network reverted to ‘permissioned’ state - read

Even more important bits.

• Blast's TVL is down 62% from its ATH - read

• Sygnum issues the first-ever $50 million Bitcoin-backed syndicated loan - read

• Jupiter Exchange warns Solana users of a malicious Chrome extension "Bull Checker" - read

• Australian regulator takes down 615 crypto scam websites - read

• Tether to launch USDT on Aptos - read

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

exSat: The Scaling Solution for the Bitcoin Ecosystem

Research

We're starting to see a significant uptick in Bitcoin innovation happening again...

With that being top of mind, here is an interesting BTC scaling solution we recently found: exSatNetwork

Read More →

To save you doom scrolling.

Click and see, the trenches are getting really desperate…

I watched this video from Ellio yesterday and can’t agree more; we truly are experiencing a spiritual low in crypto right now. 

If you’ve been around since the last bull runs, this feels a lot like 2019, when everyone was wondering if crypto was dead for good. But then 2020 happened, DeFi season exploded, and the rest is history.

Hang in there, I firmly believe in the success of this industry against the odds and all the traps that we constantly have to overcome. 

Most importantly, don’t get chopped out. This price action is designed to bleed your portfolio dry with a thousand tiny cuts.

stay safe homies,

Hix0n 🫡