!!️ Realized Losses Surge to FTX Collapse Levels

YEET.com  has been doing some cool stuff lately in the crypto casino space, so we’re giving it a shout-out for anyone who’s been meaning to check it out.

They’ve been putting out a bunch of fun, crypto-themed games with plenty more coming. There’s a mix of quick spins and deeper plays, so you can poke around and see what you like.

It’s easy to jump in. Just hit the link, sign up and have a look around.

Worth exploring if you haven’t already. And as always, gamble responsibly.

Been quite a brutal day. The low just kept getting lower and BTC ended up visiting $80k without even hesitating.

Data shows that in the past 24 hours, 396,140 traders were rekt with the total liquidations coming in at $1.92 billion. It ain’t just leveraged traders who are suffering.

LT and ST holders are in the same boat. Their realized losses have surged to levels last seen during the FTX collapse. ST holders are the ones driving the bulk of the capitulation at the minute.

Amidst all this chaos, a new research note by JPMorgan indicates that Strategy may soon be removed from major equity indices, including the MSCI USA Index. In just over the past month, its stock has dropped by more than 42%.

Saylor, however, says index classification doesn't define MSTR. Their strategy is long-term, their conviction in Bitcoin is unwavering, and their mission remains unchanged.

Endure - perhaps that’s the only way out this time.

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The important bits.

• Stargate becomes a part of the WalletConnect app certified program, read here.

• Mayan will join Jumper’s Monad stack on launch day, read here.

• Magic Labs’ Sean Li weighs in on programmable compliance at scale, watch here.

• Kintsu isn’t just launching on Monad, it’s going to launch with Monad, read here.

Even more important bits.

• Kalshi recently closed a $1 billion funding round at an $11 billion valuation, read here.

• JPMorgan says crypto market correction appears driven by retail selling of BTC and ETH ETFs, read here.

• Spot Bitcoin ETFs see near-record outflows of $903 million, read here.

• Argentina's Milei provided 'essential collaboration' for the Libra project, read here.

• Lawmakers clear Trump pick Michael Selig to lead the CFTC, sending it to the full Senate, read here.

Charts and stats of the day.

• 8 straight 4-hour candles on BTC, chart here.

• Perspective, stats here.

• Daily txn count on Ink claims new ATH, chart here.

ICYMI.

Today’s bulletin:

Telemetry data of the day.

Top trending tokens for the last 24h:

If you want to access more of this type of data and trade freshly graduated tokens on PumpFun or Bonk, visit Telemetry here (it’s free).

In today’s Degen Corner, we’ve a project that’s blending Wall Street pedigree with blockchain infra.

HelloTrade is a mobile-first trading platform built on MegaETH.

Instead of feeling like a clunky DeFi app, HelloTrade trades more like a traditional brokerage, giving you 24/7 access to stocks, ETFs, commodities, crypto, and perps, all without wallet setups, gas payments, or crypto jargon. 

By settling on MegaETH, HelloTrade will be in a position to offer high-volume trading, leveraged exposure via perps, and tokenized RWAs while still inheriting Ethereum security and EVM compatibility.

The platform is built by Kevin Tang and Wyatt Raich. If these names ring a bell it’s because they’re both ex-BlackRock digital assets leads who helped launch IBIT (fastest ETF to hit $100 billion), the iShares Ethereum Trust, and BlackRock’s BUIDL tokenized fund. 

They’ve stacked an advisory board with names like Arthur Hayes (Maelstrom), Josh Lim (FalconX), and Larry Florio (Ethena).

To round it up, HelloTrade closed a $4.6 million seed round led by Dragonfly, wrapped in just a week, with Mirana Ventures and key angels backing the raise.

The funds will accelerate development ahead of a late-2025/early-2026 launch, with waitlist access already open.

Our Meal Deal team has been shipping relentlessly. We keep giving updates about latest releases on Twitter and Discord, but if you’ve somehow missed ‘em, here’s a quick bi-weekly sum up.

• Solana Q3: Full steam ahead despite memecoin slump 

Trust me, this is a monster report.

It hasn’t been the best summer per se for Solana holders, and now we’re heading into the winter.

Is it over or is Solana going to make a comeback? What projects should be on your radar? 

Don’t expect the answer here, it’s all summed up in the report penned by zkHopium.

• New Airdrop farming strategies 

In this one, blocmates quants look into the best delta-neutral and stablecoin farms to be using right now. 

The goal is simple. Low risk, uncapped upside. Park stables and earn yields and points.

• MetaDAO and ownership coins 

Why has your portfolio been red, Joe? Maybe you hold some hot garbage tokens with an ever increasing downside. 

But hey, it’s not doomsday! The crew looked into the MetaDAO thing, deep research type of stuff, to find out if the ownership coin meta is beyond fad.  

The piece also looks into what this protocol has to offer and to what extent is it relevant to the market. 

• Analyst Round Tables - Discord Livestream

Deep chat about the industry and markets by the best in the game - Grant, Gaz, and 563. They dived into:

•  Why should you hold ZEC? 

•  Best shot at post-Mainnet greatness - Monad vs Mega ICO 

• Avici, Plasma & growing neo-bank mindshare

… and a lot more.

I’d say sign up to stay in loop of all our articles, market reviews, and livestreams.

• Reactor, a liquidity hub powered by Fuel.

• Mannia.fun, a launchpad on MegaETH.

To save you doom scrolling.

We have a livestream on Twitter with XO Market’s Ali on Monday at 10am ET to talk about all things conviction markets. Make sure you tune in.

In the meanwhile, take your eyes off the charts, touch some grass, and enjoy your weekend. You deserve it now more than ever.

Lavina, Edyme 🫡