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- 🌏World Tokenization Will be Televised
🌏World Tokenization Will be Televised
PLUS get ready for Base season!
🗞 Market commentary.
GM, it’s looking good.
Hanging out above 71,000 dollars per Bitcoin surely feels nice. What’s going to feel even better is if we can shoot above eighty by the end of June, anyone with me? So far, the crystal ball points exactly to this future outcome. If things change, you’ll hear it here first.
What’s the reason behind this sustained strength, you might ask?
Well, for one, the stablecoin market cap soared to a two-year high of $161.1B. Stablecoins are bulls' best friends, and as long as we see their market cap rise, we’re pouring fuel into the rally. Secondly, we saw a massive record-breaking $1.3B ETF inflows this week. Thirdly, we’re seeing softer macro data coming in and the Fed coming out saying they are about to cut rates even if inflation isn’t at their original 2% target. Is the macro environment pushing money into Bitcoin ETFs? Ted from Tedtalksmacro surely thinks so.
Finally, Larry Fink, the gigachad bull of this bull run, jumped in front of the TV camera and declared that “every bond, every stock will eventually be tokenized on a ledger.”
Considering that the crypto industry is still smaller than NVDA stock, which just surpassed $3 trillion valuation, I will leave you with this number: the derivative market is worth more than $1.2 quadrillion. If everything integrates with crypto, we will enter the la la land.
📊 Luke’s Chart of the Day
AABL/SOL 1D Log Chart
This is mostly an attention trade, although the $AABL chart is putting in a nice looking Adam & Eve bottom, down bigly from the highs, in the fine memecoin tradition of bullish 90% pullbacks.
On Monday, the 2024 Apple Worldwide Developers Conference kicks off for the whole week. Tim Cook will do the keynote and there are expected to be announcements about new AI features in iOS 18 and macOS 15, amongst other things. If you look at the $AAPL stock chart, the weekly looks w-bottom primed for a new breakout.
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.
Onchain Summer
Coinbase finally released the long-awaited Smart Wallet, which provides much-needed simplification and account abstraction functionalities that should help us onboard the new wave of crypto participants.
Nevertheless, this also means that those already here should start focusing on the Base chain again. Just during the month of May, Base’s revenue hit 6 million dollars, the highest of all L2s. In comparison, the second-best, Optimism, made just 1.5 million. Moreover, we’re seeing a massive token oversaturation on Solana, the go-to shitcoin casino for the time being.
As the opportunities on Solana dwindle and the chain gets plagued by professional snipers and bots, people start looking for another venue. I bet that Base will take that spot.
What are some of the picks to benefit from the upcoming action? Let’s check them (not financial advice):
👀 DeFi insights.
The important bits.
📰 DeFi news.
Even more important bits.
TOTAL2 is getting ready for Wave 3 - read
Bybit opened registrations to Chinese customers - read
BlackRock plans to launch a new national stock exchange in Texas - read
Coinbase releases the Smart Wallet - read
Grayscale suggests 5% crypto allocation in portfolios - read
Vitalik Butterin “unhappy” with celeb coin experimentation - read
Tether Shells Out $18.75 million to foster USDT-based int’l payments - read
Trump’s $31 million crypto wallet flooded with meme coins - read
Japan: DMM Bitcoin to raise $320 million to buy BTC - read
🫠 ICYMI.
Life gets busy so here’s what you’ve missed.
Shitcoin Church Ep. 26 - ATH Soon, Euro/Olympic Coins, Runes, BSC?!
Podcast
Come join us on a journey through time and space (and shitcoin charts).
🐥 Tweet of the day.
To save you doom scrolling.
The ETH heads are getting mogged left and right lately. When comeback?
🦍 And finally…
I busted out the crystal ball and foreseen what’s coming (which means I’m talking out of my ass). In my opinion, we’re about to bust into the eighty-thousand per BTC territory. Once there, the last pre-summer altcoin pumps happen, just as everyone talks about the most bullish summer ever. That’s when another pause happens, and we reconsolidate into September. But then, then it’s the big show time, friends. In my opinion, the fourth quarter will be the craziest one yet.
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