🧐 Is This Memecoin the Next WIF?

🗞 Market commentary.

GM ATH edgers.

How high will Bitcoin bust out when it’s sustainable, you ask? Well, statistically speaking, we should enjoy a pretty solid candle into the mid-75s. What’s important to note here, though, is that once Bitcoin surpasses all-time high prices, it simply stays above it forever. Or at least that’s happened literally every time in the past – except for a brief 2022 period caused by the FTX crash. Looking into the future, Bitcoin under 69,000 might be the next bear market “god-tier” buy zone, as crazy as that sounds.

Overall, we shouldn’t be too surprised if BTC flips ATHs soon since digital assets saw the 2nd-largest weekly inflows of $1.84bn, with trading volumes reaching a record high of $30bn for the week. Oh, and by the way, Kraken’s Bitcoin OTC desk has sold out.

Lastly, this is one for all the Hat wearers: Dog WIF Hat is getting listed on Binance. As we step into the new Memecoin Era, we have to try to imagine which meme leaders will follow these CEX listings. Perhaps the main cat coin, MOG?

PS: If you want to know which memecoins are getting listed on Binance upfront, you might want to follow this address.

📊 Luke’s Chart of the Day

Solana price is ramping back to ATH, but this cycle it has volume too. Over $3bn yesterday.

Solana currently does anything from 20 to 30 million (non-voting) transactions per day, versus Ethereum’s ~1,000,000.

The value moved per transaction is way smaller, but Solana is maturing into the retail chain. Ethereum is growing fast too. Just arguably in a different, more TVL / yield-focused way.

🔥 Degen corner.

The DeFi Resurrection is Overdue

Let us not forget the king of laggards, ETH. The ETH/BTC chart currently paints a nice and clear bottom pattern. In case ETH shines (as per usual during Q1 and Q2), we can expect our DeFi bags to experience a resurrection as well. CRV is showing a pulse already, and that is exactly what we want to see.

At the same time, the TVL on Ethereum steadily climbs back to its ATHs. We can also see derivative DEX volume exploding, which leads us to double-check on projects like Thena, MUX Protocol, or to farm some of that sweet Hyperliquid airdrop.

DeFi heads and especially CVX and FXS stakers also rejoice due to the long-awaited Fraxtal chain release, an L2 by Frax Finance. Fraxtal is launching today, and if you haven’t already, now is the time to dive in.

👀 DeFi insights.

The important bits.

• Skillful AI (AI) - Highlights developments of last month - read

• Perfect Swap (DeFi) - Vaults & DEX launching on March 10th - read

• Ether.fi (LRT) - Partners with Zircuit - read

• Smilee Finance (DeFi) - Presents Auto-Buy functionality  - read

• Elixir (Modular Network) - Announces launch for March 12th - read

• ThrusterFi (Blast DEX) - Partners with BLASTOFF - read

• GRVT (DEX) - Introduces next-gen self-custodial CEX - read

📰 DeFi news.

Even more important bits.

• Saylor wants another $600M to buy more BTC - read

• Crypto market reached $1B liquidations - read 

• Bitcoin is about to surpass the market cap of silver - read

• VanEck has high hopes for crypto in Europe - read

• Robinhood lists BONK - read

• DWF Labs purchased $10 million of TokenFi’s TOKEN - read

• 3 years old SHIB whale started selling - read

🫠 ICYMI.

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

Su Zhu Interview: Where Are We In The Supercycle? 2024

Podcast

Grant was joined by Su Zhu, previously of 3 Arrows Capital and now of Ox.fun, to discuss the current market happenings.

Tune in YouTube →

🐥 Tweet of the day.

To save you doom scrolling.

Janet is on FIRE today! Recommended watch.

🦍 And finally…

Lastly, we might need to start focusing on the BASE ecosystem more, folks. There has been a quite massive 18% stablecoin supply uptick and people are loving the new account abstraction Coinbase wallet. Also, all of the Coinbase deposits might automatically end up as BASE TVL. The future is bright for the bald man and his chain.