🔥 We're Going to War

🗞 Market commentary.

GM freedom fighters.

Just yesterday, we ranted about the DOJ’s arrest of the Samourai wallet developers, which feels like trying to punish the inventor of the fork because someone got stabbed with one

Today, crypto finally goes on the offensive. Consensys has had enough of the SEC’s bullying behavior and, following a Wells notice earlier this month, has filed a lawsuit against the agency. Moreover, this all coincides with the FBI issuing warnings against using non-KYC Bitcoin services.

Notice the pattern here? If the state cannot control Bitcoin, they at least want to offer the ETF form (which they do control) while slow-dripping the people with warnings about self-custody and everything and anything non-KYC.

We are squarely in the midst of a war against DeFi and crypto simply must stand its ground.

📊 Luke’s Chart of the Day

RFKJ/WETH 4H Uniswap

If Boden goes to $1B+, my thesis is that the no.1 independent candidate’s meme does multiples. It’s still less than the $10M market cap, where Boden is up around half a billion.

Listed on Solana and Ethereum, it looks like there might be a Base option too. Crypto favorite and ‘corporate kleptocracy’ hater Kennedy Jr., the based grandpa who lifts (his brain seems to work, too), has potentially an important role in the election. In a close race, he might become the guy who decides the outcome. The big rounding bottom looks like an accumulation to me, and the all-time high might be challenged soon. This political Ponzi needs to run much higher into November.

As always, NFA, and please do your own research!

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!

🔥 Degen corner.

Runes are heating up!

Let’s circle back to Runes, as we’re finally seeing people figure out how to start trading these things. Also, we might have a few relatively established names here.

First of all, the best place to trade these is the Magic Eden Runes marketplace, accessible via your Xverse wallet or combined with the official Magic Eden wallet.

The best avenue to trade these is the Magic Eden Runes marketplace. You can use this market either using your Xverse wallet or combining it with the official Magic Eden wallet.

While there’s a huge need for better charts, you can get a basic idea of market caps and simple charts at the OKX Runes marketplace.

If anything isn’t clear to you, here’s a full Runes tutorial by Crypto Tube.

Here are a few projects worth mentioning now (watch out: HIGH RISK):

Next, we’re going to look at how the swappers for Runes fare, and as time goes on, we should see the Uniswap of runes pop up relatively soon.

👀 DeFi insights.

The important bits.

• HyperliquidX (DEX) - Launching HIP-1 and 2 soon - read

• Zentry (Gaming) - GF token migration is now live - read

• DeFi Saver (DeFi) - Now supports Compound - read

• Mantle (L2) - Play Catizen game and earn 230,000 $MNT - read

• Io.net (DePIN) - Partners with GameSwift - read

• Puff (Memecoin) - Blue potion bonding for points starts tomorrow - read

• Arkto (Berachain) - Presenting the strongest Berachain flywheel - read

• IntentX (Intent-DEX) - Partners with Befi Labs - read

• Arena (SocialFi) - Releases V2 - read

📰 DeFi news.

Even more important bits.

• Google Cloud announces Web3 portal - read

• USA sees -50% in GDP growth, compared to expectations - read

• EU's anti-money laundering bill passes - read

• CORE CPI inflation in the US is rising again - read

• Hedera sinks -32% after BlackRock news - read

• Fidelity’s spot bitcoin ETF records outflow for first time - read

• ViaBTC's 'epic sat' from fourth Bitcoin halving sold for $2.13M - read

• Intel stock is falling after earnings reports - read

🫠 ICYMI.

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🦍 And finally…

Looking at the memecoin market, it’s now blatantly clear that the meme trend isn’t going anywhere. The only thing is that, by now, it might be not only safer but way more profitable to bet on the bigger, established names.

Of course, this is not financial advice, but I personally see a very comfy trinity made from MOG, Retardio, and the less-known Mfer on base. These are the ones I will see through all the way into the billions (or maybe I’m just crazy; you tell me).

As always, stay safe, do your due diligence, and build your own convictions because without it, you will fumble.

Good luck!

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