💀 Memes Are Dead. Long Live Utility.

Aaah, when Novogratz was bullish, those were the days, my frens.

But now? Now that Bitcoin is supposed to bulldoze up to $140k, the infamous Luna tattooed bald head dumps $900m worth of BTC during market after-hours. GG.

Of course, there are no complaints here; welcome to the crypto market. Yesterday, we mentioned the clock ticking loudly, meaning that the more BTC stalls, the higher the likelihood of a downside resolution. A few moments later, around a hundred million dollars worth of longs got wiped out in an hour (precise table here).

So, as we head into the weekend, questions remain around the weekly close. If BTC closes back above $116k, there are basically no changes to the current range. Under that, however, or under $115k, we should consider further downside targets, aiming at around $110k.

Lastly, looking over the broader market, it`s becoming evident that the standout gains are now happening in utility projects. Whether it's straight up pumps during dumps, as is the case with SYRUP or ENA (we broke this down in this newsletter), bullish consolidations in new horses like BLOCK (explained in this one), or even Berachain eco projects like Dolomite (of course, explained here).

On the other hand, we see PumpFun causing massive spikes in antisemitism globally and dumping almost 50% below presale price, trench launches being unable to survive the first hour post-graduation, and even OG coins struggling to exit long-term accumulation periods.

Nevertheless, rotations always rotate, and if the overall market heads higher in the following months or Q4, I would gladly place a bet on OG memes succeeding and heading much higher.

Let`s take it day by day, good weekend to all.

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The important bits.

• Fluid reached $3B TVL in just few days, full stats here

• Mog is now available on Blackhole, Avalanche DEX, trade here

• Drip Trade launches NFT vaults on Hyperliquid, join here

• Hybra Finance on Hyperliquid launches 20% point boost NFTs, learn more

• Sei Network announces native USDC, learn more

• Dinero announces deployment on Orca, Solana, learn more

• HyperUnit announces SPX6900 spot listing, learn more

• Kodiak DEX announces new aggregation features, learn more

• DeBridge announces the DeBridge Reserve Fund, learn more here

Even more important bits.

• Trump interacts with Powell in a new skit, watch here

• Bank of America says many banks are preparing to introduce crypto stablecoins

Charts and stats of the day.

• Ether Rock NFTs hit $300,000 sale

• Chris Larsen (Ripple co-founder) just dumped ~$200M worth of XRP

• ETH on-chain volume pumped to $11,460,000,000

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Osito Finance

Also known as “the one that shall save Berachain”,

Osito Finance is finally live on mainnet.

I have to say, the Osito guys chose a good time to launch, as the launchpad wars (Bonk, Launchcoin, PumpFun, etc.) are currently in full swing.

In a nutshell, Osito Finance is “A launchpad that buys and burns every token it launches not just with trading fees, but with interest from loans that use those tokens as collateral.”

Osito Finance is basically trying to jumpstart the trenching culture on Berachain and combine with the ponzinomic mechanics all Beras love. Will it work? Hard to tell, we’re at day zero.

What’s a great sign, though, is that Osito already has plenty of fans not only on Berachain but also from a much broader DeFi crowd. I’d say the main question now is whether Osito draws in the volume from the trencher, more degen community as well.

Lastly, you can test out Osito Finance yourself and launch your coins for as little as 1 WBERA. Have fun!

• Ripe Finance (DeFi)

• HyperSolid (Hyperliquid)

• Ninco (Monad, perp DEX)

• Exotic Markets (Options and perps on Solana)

To save you doom scrolling.

Since this one deserved a repost from lil piece of shit (smolting) himself, imma share it with you as well.

I believe this tactic, combined with patience and some due diligence, is a much better approach than gambling on a thousand new launches per day.

There we have it, heading into another volatile weekend, moisturized and overexposed.

Best of luck to all, see you on Monday.

stay safe homies,

Hix0n 🫡