🙏 There's Still Hope for Bitcoin

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GM, do you feel it? 

A flicker of hope as we inch closer to 58,000 Biden Bucks per Bitcoin. Now, to remain absolutely cold-blooded rational magic internet money investors as we are, we simply cannot celebrate anything until we pop back up over $60,000. So, what are our options? Either we recover now—excellent. Or, we dip lower, giving us a last chance to stack up—brilliant. 

The hope side grows in strength, though. Yesterday, we saw the German government literally market dump a billion dollars, or precisely 17,000 BTC, in an instant while the chart ate it up like nothing really happened.

Furthermore, the Ethereum spot ETF race heats up before what seems increasingly like a finish line. Literally, all the big players are filing their updated S-1s: Fidelity, VanEck, Franklin, 21Shares, you name it. The only remaining question now is - will the inflows be at least on par with Bitcoin’s ETFs? We all know what that would do to a much smaller asset like ETH…

Is there even anything to be bearish about for the foreseeable future? I mean, crypto is now literally and officially part of the GOP platform and political campaign. 

I don’t know about you frens, but I’m feeling more than hopeful about our future.

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SOL/ETH 1W Log Chart

SOLETH continues to look really good despite an impending ETF for the counterparty. Very clean weekly range on the log chart. We’ve reclaimed the midrange and are in the process of reclaiming the 20-week MA, which is an important line in the sand for weekly charts.

Solana memes are currently one of the only games in town, so it’s not surprising to see the global meme reserve currency showing strength. Network volume and TVL still look very healthy on Defillama despite the big majors downturn. When the market turns around, we might not have long to wait before the all-time high at 0.058 is breached.

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!

Hyperliquid Season is Upon Us

Hyperliquid L1 is set to become a beast. While most recent airdrops were disappointing, this team refused outside VC investment to build their product their own way. 

Hyperliquid is a standalone layer 1, which means its valuation should be theoretically higher than if it was layer 2. Plus, we’re seeing a whole ecosystem being brewed here, which is currently being used by over 170,000 users and has more unique traders than for example Jupiter or RabbitX. 

Now, if you want to participate in the upcoming airdrop where more than 50% of supply is distributed to users and which might yield an unbelievable $50 per point (according to great research by Protecc Labs), you can start your trading journey and register here.

Note that there are also a bunch of native Hyperliquid spot tokens deployed, functioning as ecosystem memes, with the first and main one being PURR (this one might also yield more points). 

Besides this one, the interesting ones are:

• HFUN

• POINTS

• JEFF

• RUG

• VEGAS

• SCHIZOd enjoy the point farm!

The important bits.

• Redacted (DeFi) - pxETH LST supply is rapidly growing - read

• Rage Trade (DEX) - RAGE token will launch on Hyperliquid - read

• Unstoppable (DeFi) - Podcast with blocmates coming up today - read

• Skillful AI (AI) - Featured on CryptoKnightShow - read

• CORE DAO (BTC DeFi) - Introduces Dorian (BTCFi money-market) -read

• EOS (L1) - Announcing EOS Staking + Reward campaign - read

Even more important bits.

• Paxful co-founder faces jail time over major compliance failures - read

• Australia’s largest stock exchange approves spot BTC ETF - read

• 10% of Grayscale’s ETHE NAV will be locked up, reducing outflows - read

• German government sells 17,000 BTC worth $951 million - read

• Crypto is now part of the official GOP platform - read

• Staked Ethereum hits 27% of supply as ETF trading start looms - read

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

WTF is MegaETH: The Endgame ETH Scaling Solution?

Research

If you want a quick overview of what the megaETH guys are building, then head to the article below There is a lot of positive sentiment and also some valid arguments surrounding this next-gen Ethereum L2

Read More →

To save you doom scrolling.

Apparently, owning 7% of the supply is not that much.

Retar Derulo.

🦍 And finally…

Remember Bitcoin Runes? Yeah, even though many got burned and bought tons of PUPS at the literal end of the mid-term hype cycle, the volume and charts on Runes look so abysmal at the moment that it might just be a sign of a bottom. Let’s get back to this soon. I think PUPS, for example, is a good buy right now (for the patient ones).

stay safe homies,

Hix0n 🫡

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