🤓 Will Government Shutdown "Shut Down" the Bull Market?

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They’ve already released some pretty cool crypto-themed games, and with football (not soccer) season back, their upcoming sportsbook couldn’t be dropping at a better time.

So if you fancy a punt, go have a play. Just remember, as always: gamble responsibly.

GM to all highly sophisticated risk-takers (gamblers).

Finally, I can write about hundreds of millions worth of shorts being liquidated, instead of bulls. But will it last?

The fear-mongering around the US government shutdown is hitting the books at the moment. And it’s right on time. Currently, the odds on Polymarket for a government shutdown on October 1st are at 25%.

As you may recall, we had speculated that there might be a retest of the recent lows around $106-107k during the first week of October. The government shutdown narrative, combined with Jim Cramer saying it “won’t affect the stock market”, makes me think that this indeed is on the table.

Nevertheless, what I want to focus on more is the fact that today, September will likely close in the green, which is historically a perfect sign for a very (very) bullish Q4. The more fear we see now into early October, the better, in my opinion.

As for the outlook chart-wise, I couldn’t agree more with Nik here.

My approach will be to try to capitalize on good dips and consider the possible downside as an opportunity, first and foremost. If we can get things like XPL and ASTER around a dollar or even swiped below, why not take the chance?

Of course, if anything changes, we will keep you updated. Stay tuned, the week is once again very large.

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The important bits.

• Pyth Network enables MUSD, BTC backed stablecoin, on 100+ chains, read here

• Giza announces integration with Rocket Pool, read here

• Jumper explains 4 trends in crypto bridging, read here

• Almanak announces completion of audit by zokyo, read here

• Saga reminds you to link your 0x address to claim September rewards, link here

• Plasma reached $6.5B in deposits on Aave, read here

• Yield Basis Legion Sale sees $150m in commissions, read here

• Kinetiq announces final point distribution for October 16th, read here

• Fuel blobs can now be tracked on the Eigen Layer explorer, read here

• OpenSea is launching all of the NFT Strategy tokens for trading on their platform, read here

• Starknet announces trustless BTC staking at Token2049, read here

• Hyperliquid successfully survived a large selling “attack” (CZ?), read here

Even more important bits.

• Crypto streamers from Basedd House draped the Hollywood Sign with a http://PumpFun banner, read more

• Visa launched a pilot with Circle’s USDC to make cross-border payments faster, read here

• DeFi pioneer Andre Cronje’s new project, Flying Tulip, has raised $200M, read here

Charts and stats of the day.

• Ethereum and Bitcoin spot ETFs' combined daily inflows top $1 billion, read here

• Aave is now the 36th largest bank by assets, stats here

• Murad roundtripped $40M in memecoins, wallet here

• Pokémon card projects still see great activity, chart here

Don’t miss out on the daily blocmates news bulletin with Gaz! Tune in here.

Become your own bank.

ether.fi Cash is the real-world spending product we DeFi natives have been waiting for for so long.

It’s time to ditch your bank altogether and embrace the crypto life:

• Spend it directly with no fees on the sale, and earn 3-5% back on every purchase—debit or credit.

• Never sell - live like a billionaire: avoid taxes, compound wealth. Don’t worry about on-and-off ramps or taxes by spending against your balance as credit debt. 

• Pay off your debt with yield + cashback: earn 9% on stables, 7% on ETH, 2% on BTC, with HYPE and SOL on the way.

• Use borrow mode: 70% LTV against your whole portfolio, “only borrow, never sell”

• Keep self-custody, earn big yield, and never pay for instant withdrawals or have your money stuck in a CEX again.

Telemetry data of the day.

PumpFun + Heaven + Bonk trending tokens for the last 24h:

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

Phygitals airdrop farm: RipNReveal season.

I’m currently speculating that Phygitals might reward us with a 15-30% airdrop. This gacha platform has gained a lot of ground lately and is constantly implementing new features, including One Piece cards, baseball and basketball cards, and soon, even CS:GO skins - you name it.

I think it has the potential to become a great consumer app. Not only will point holders get the main Phygitals token airdrop, but also PKMN, an RWA Pokémon index token on Hyperliquid.

RipNReveal is a great way to stack points because you get 50,000 points for each bid. You keep the points even if your bid loses, basically “buying” points for free. If you win, there’s a good chance these fossil cards print as well.

Key note here: fossil packs are currently selling for around $300-400 on eBay, so these bids are already a little bit high. Maybe we can bid on some this week, and start very early next week to let some bids fail (free points).

Here’s some back-of-the-napkin math for the airdrop potential. I still think there’s a chance of seeing as high as a 30% supply airdropped.

• Trade here and find the “Stream” site on the left tab.

• Yei Finance (Hyperliquid) - TGE registration is open

• Stable (Bitfinex backed stablecoin chain)

• ZyFi (Autonomous DeFi yields)

• SANDchain (ZK-powered blockchain for creators)

To save you doom scrolling.

LMAO.

Crypto really is a joke sometimes. This guy has a great point. But, after all, volatility is what we’re here for. As time passes, crypto will mature alongside its investors.

stay safe homies,

Hix0n 🫡