I know we say this alot BUT….a lot really did happen this week in crypto and I can tell you this now……definitely looking forward to the weekend! BUT until we get there we take a look as to why are we still bullish on crypto, Bitcoin does a doozy with a dump n’ pump and a revamp of our hidden alpha section…..aka Ape Chasers.

Here’s your Friday Ape Enclosure serrrr!

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In Todays Enclosure

• The Big Topic - WDF is going?! Still Bullish Serrrr?!• Bitesized bits - Sushi Head Chef Horses around, UniSwap secures $165 Series B Funding and CZ to the resue.​• Chart of the day - $BTC • Ape Chasers - 🕵️‍♂️

🔥 The Big Topic - WDF is going?! Still Bullish Anon?!

JFC as I write the first draft of this on a Wednesday Morning with a cold cuppa tea the wonderful world of crypto feels like a trip down that rainbow road on Mario Kart. The Yuga Labs are (finally) getting investigated for their shenanigans, the Sushi Head Chef does *not safe for work* with Black Beauty and even more bridges, wallets and tooty fruity markets getting exploited!

The world has gone completely belly up with the economic recession, an energy crisis that makes my office super cold, and markets that nuke, bounce, nuke some more and then bounce (hopefully once more!). But it surely isn’t all doom and gloom, especially with so many crypto conferences taking place in the sun and safe shelter of Columbia (although it’s a bit strange they have these so far away….lol).

So, it looks like we are going to need a real big cup of bull juice to even consider a bullish narrative on crypto and the future of mass adoption for the normies to come in and pamp mah bags. But let’s give it a go anon.

How does mass adoption actually happen when crypto is the biggest ponzi known to man…even bigger than Jimmy C and Nancy P because you can counter-trade Jimmy C and copy-trade Nancy P to make your lunch money for the week.

Yes, that little padlock is potentially how we do it. That seemingly unimportant little padlock sparked one of the biggest internet revolutions known to man and that is e-commerce. This little padlock shows trust, it shows protection and it shows aimless online shopping apeability. Long before encryption became a thing, people were under the impression that the internet was one big ponzi (lol…..wen crypto?!) which resulted in the dotcom bubble. But the moment payments became secure it helped solidify that this, once big ponzi, wasn’t actually as big of a ponzi as first thought. Now with added trust, we can aimlessly spend all day internet shopping buying weights, dates and protein shakes.

Now, Crypto….JFC….feels like we are an eternity away from that point with all of the scandals of misconduct, liquidated “VC” firms and the whole “buy the dip of the dip of the dippty dip dip” larp that keeps flooding Twitter but we are getting there as governments warm to the idea, with the riddance of the goblins and as we actually make proper good tech that is applicable to the outside world.

Builders be building

And yes serrr, that’s right. Builders be building. The Web3 space is still in its infancy, like still in its diaper stage and what we are seeing now, alongside the macro doom is the make-out shakeout, where the industry continues to purge itself of the goblins to lay the foundations for the generation of builders and users that drive this innovation revolution forwards.

Messari reported that over $30bn had been raised into “centralized finance (CeFi), decentralized finance (DeFi), nonfungible tokens (NFTs) and infrastructure was achieved through 1199 funding rounds in H1 2022.”

This is huge news for the space and if H2 is anything like H1 we could see even more VC money flooding into the Web3 space for proper good tech. This week alone we saw the former Google Ads Boss raise $40m for a Web3 Search start-up.

Builders need to build so that users can use.

Our Take

All in all the future does actually look quite bright for Web 3 and those devs who are innit for the tech. As time goes on and we get ourselves into greener pastures, with less fud from within the space itself the Web 3 economy can really take off. There will be a huge turning point that will come along with proper rules and regulations, which are need, because without them we can’t get the normies back as right now its like Delboy selling collectiables out of his car boot.

Right now, bull juice is at an all-time low but it is also at all-time high. With big banks, big tech and institutes continuing to ape in and ape smarter we will see the innovation curve moonshoot in a way that we never expected. Remember the adoption will happen when your Nan plays candy crush without even realising she’s connected to Web 3.

You can check out some of the latest big-funded projects on Coin Desk here and on Defi Llama Raises.

🗞 The Bitesized News Bits

Google it or Nxyz it? as the former Google Ads boss, Sridhar Ramaswamy raises $40m for a new tech start-up, Nxyz, that will make searching the blockchain easier.

CPI data comes in hot, with an increase m/m of 0.4% which led to a dump and pump across the board as markets losted everything then regained a few hours later.

Alleged horsing around in the office, like you’ve never heard seen from the new Head Chef of Sushi. Im sure we have all heard the rumours….so we will keep it clean and leave the link for you.

Binance backs Bitcoin miners, with a $500m loan grant to help Bitcoin miners around the globe.

Defis BIGGEST deal, as Uniswap raises $165m in a series B round of investment led by Polychain Capital

And we can’t ignore the fact the SEC is probing Yuga Labs for illegal securities offering but what implication does this have on the broader NFT market?

🛡 Chart of the day: $BTC

Our Take

Well, in an interesting turn of events the CPI numbers printed higher than expected and the BTC chart absolutely nuked slicing through the 0.886 Fib line to then full send back up to the psychological $20,000 range. IF Uptober is a real thing and this is the start of it then it is likely we see a retest of the 50 EMA (yellow line) before making its next leg up.

Bull case, we see an epic break out of the 0.618 fib line and make a massive run back toward the $22,500 mark to recover the imbalance in the chart highlighted by the big red vector candle.

Bear case, we give up all of the gains we had after yesterday’s CPI print and once again continue to crab in $18,500 to $19200 range.

🤝 Here’s the Deel

and a quick word from our super awesome sponsors who help us make this all possible

If you are a builder in this space and are hiring a remote-first team take a look at one of our partners, Deel. They allow you to hire, manage, onboard, and pay from anywhere in the world without the hassle. Yes, Deel allows you to pay your team in crypto too…

🦧 Updates from the bloc

The latest thread

The wonderful world of forex. If you’ve never delved into it and want to give it a go on chain then check out the whos, whats and hows of Handle Fi as the team bring forex trading to the blockchain.

Special thanks to McDonald’s drawing technical analyst LeftsideEmiri

The latest podcast

Managing Consultant Matthew Pines joined us today for an epic 2-hour lyrical script of genius taking a deep dive into the world of geopolitical game theory and the existing monetary order.

You’ll need a cuppa tea for this one and yes the apes behind the scenes put the time stamps on it for you.

🎉 Friday Win of the Week

I’m sorry, (not sorry), but it simply had to be!

🕵️‍♂️ Ape Chasers

Jazzing this section up from here on out so welcome to Ape Chasers. This section will give you ideas for the up-and-coming narratives that are going to be playing out. As always DYOR, NFA and Join the apes in discord to continue the conversation.

zkSync hits mainnet end of October/start of November which may bring around a ZK project narrative and hype.

Layer 1’s aka the big cheese of the room. Berachain, Sei Network, Aptos and Sui. The time is now to start researching their ecosystems for first-mover advantages.

Ether.Names, yes this looks like the new kid on the block, and with most domain names it sometimes pays to be early.

🦍 The Ape Enclosure

We’re ready to ape in, at any time. Got a good idea that needs funding? Send us an email with all of the info to [email protected] - Equally, if you would like your project to be featured in our Sponsor Section, contact us and we will see if it is a good fit for our audience!