🪬 In τAO We Believe

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The AI season seems to truly be upon us. TAO is today’s top gainer and if you followed our call from Thursday’s newsletter, you’d already be sitting on a fat pile of gains. 

While TA analysts believe TAO was quietly gearing up for its accelerated breakout, other macro observers seem to be giving Kamala Harris some credit. 

At a recent fundraiser, she integrated AI and crypto into her vision of an “opportunity economy.” 

Specifically, she said that she would bring together labor, small business founders, innovators, and major companies to build an economy where,

"We will encourage innovative technologies like AI and digital assets while protecting consumers and investors. We will create a safe business environment with consistent and transparent rules of the road.”

The dots do connect, but the promises seem fictional, and I wouldn’t wanna let her steal the credits. So I’m going to stick to the most rational reasoning — TAO’s mindshare started picking up pace earlier this month, people kept accumulating, plus its development activity also showed resilience irrespective of the noise in the background. Both its technical and fundamental legs were strong, and as a result, the price acceleration transpired.

If you fumbled this time, please do not FOMO. There’s still a lot in the pipeline — including the dTAO upgrade — to look forward to. This is just the beginning and we have a long, long way to go. 

AI and TAO aside, I’m personally pumped for Q4. A bunch of events are lined up in the foreseeable future, and well, we’re only programmed to go higher.  

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AR/USDT 1D Binance Log Chart

I picked this up this morning when it was a bit lower (thanks Chesse), but the downtrend line we’re approaching could give a decent pullback to get in. Massive TAO outperformance has provided a halo effect for quality AI plays like Arweave with no FDV / VC overhang. AIOZ also looks promising, but it’s at resistance currently.

The RSI breakout is a good reversal signal and the Awesome Oscillator should flip bull soon. Targets here are relatively conservative - 27.50 is the yearly VWAP and ~$40 is the Value Area High, both pretty big volume nodes.

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!

The Hamster Kombat team unveiled the final details of its season one airdrop a few hours back. The gaming project on-boarded 300 million users over the past six months, while 131 million managed to qualify for the airdrop. Meanwhile, over 2.3 million were banned from the game for cheating.    

The HMSTR token will be launched on the TON network on 26 September.. and that seems to be giving users the ick. Well, TONS’s track record hasn’t been that great of late.

In late August, the network saw two roadblocks in the form of downtimes during token launch phases, and given the mammoth size of the latest drop, it could crash again. 

Just when you thought it couldn’t get more dramatic, TON Core developers flashed a warning on Telegram that the upcoming launch of HMSTR [and CATI] could trigger “more technical pressures and possibly some unforeseen issues.” 

So if you’re gearing for the airdrop, keep your eyes peeled and stay warned!

The important bits.

• Decentralized perps exchange Zeta Markets unveils Bullet — Solana’s first L2 solution

• deBridge to bring native Bitcoin to Solana

• Aethir and Filecoin Foundation create alliance to foster decentralized GPU cloud computing

• Telos Foundation announces launch of crypto exchange Telos X 

• Abra ties up with Praxis to foster tokenization

Even more important bits.

• Mining service provider BTCcom announces brand upgrade to CloverPool

• Ethereum Foundation offloads 200 ETH 

• Sygnum Bank subsidiary receives license as a crypto asset service provider in Liechtenstein

• Court fines NY resident $36 million for frauding crypto investors

• Kamala Harris makes her first comments on the crypto industry at a recent fundraiser

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

What Are Based Roll-Ups? A Beginner’s Guide

Research

“Stage 1 or bust” —  Vitalik Buterin recently said that he’ll only discuss and endorse rollups with sufficient decentralization in L2 talks. Gaz penned a piece on ‘based rollups’ chalking out the good, the bad, and the ugly; compared it head-to-head with ZK and Optimistic rollups; and detailed the impact on Ethereum. 

Read More → here

To save you doom scrolling.

Lock in time is here! Unleash your inner permabull maxi, anon.

We debuted the TAO Talk podcast series on 31st August, and September has been nothing short of dreamy for the asset. 563 — our resident TAOist — swings through fundamentals like a monkey on a vine, ready to go bananas over every single ecosystemic development. 

The TAO case is just one exhibit. Every ape here is passionately crazy about something or the other and makes sure to always keep you in loop of everything that’s happening. 

Bottom line - More often than not, we’re earlier than early. Q4 is approaching and the ride is only gonna get crazier. So, if you haven’t boarded the blocmates train yet, this is your sign to hop on. 

strap up and sit tight homies

Lavina 🫡