The DeGen Bible to Financial Freedom - Vol.35

Week 14 June -  20 June 2023

Learn to fish, steady, lads - Mars Captain

🧠 Observations

• 80% of the market cap comes from BTC, ETH and stables. What would those who shouted the loudest about the bull is back say right now? 1.5 month-ish ago, Captain believed that the market was having an infliction point. Captain still believes the same.
• Don't think that we should pay too much attention to whatever regulatory. there are more buzzwords than actual actions. Market is boring, meme fever is on pause, this is the sign of early industry ossification, no NFT, no Metaverse, no hype.  

💵 Stablecoin & Market Landscape

• Stablecoin market share remains high in reference to the total crypto market capitalization. 11.6% of stablecoin (129.6B) on 1.11T crypto market.

Reminder: Mid-NOV 2021, this percentage was around 4ish% with a 3T total MC. Now we are at 11ish% with a 1ishT total MC.

• Now at 1.11T.  Still hanging around on the 1T level. Going steady.

Reminder, June and Nov 2022 witnessed a bottom of 800ish B MC vis-a-vis the market’s top in NOV 2021 at 3T.

Infographics

• Everyone's ditching crypto to AI. Understandable.

• What about Polkadot, AVAX?
• And STX? This measure could have taken LUNA in consideration as well, why not? It's also 99% down. Does it mean FLOW, ICP and NEAR are as crashy as LUNA?
• Solana would have held more, had there not been the FTX saga. This chart actually speaks for ETH and BNB, they are the two ecosystems established so far, this is supported by MATIC's resilence. The Next bull we shall see other ecosystems catching up, hopefully.

• This chart reflects how many bullshit jobs corporates create for their own ego or to please the government. There is absolutely no need to inflate a workforce for existing profit generating machine. They might as well spend the extra budget on charity and feeding the homeless.

• Berachain has been a mystery in the industry. No prototype, high profile VC investment, just a community posting in a lightyear speed. What are we looking at here? Is this even real or another send me your $ETH and you get nothing scheme?

• Didn't mention if the investor holds or not, though this is interesting.

🔢 Index

• This index might have to go lower than 30 to justify more buying.

• Meanwhile, CBBI is dipping. What does it signify?

📰 Current affairs

Starfish Finance:

Chapter 2— Flip Your Zero to Become A Hero

A flip a day keeps the bill away.

MediumStarfish Finance

Prediction Market — The First Game of Starfish’s Entertainment-Fi

Play to earn?

MediumStarfish Finance

Starfish Finance is Live on Arbitrum for its new chapter in Entertainment-Fi

Starfish Finance is listed officially on the Arbitrum portal. https://portal.arbitrum.io/?search=starfish to check out Starfish Finance

MediumStarfish Finance

Starfish Finance II - Attack of the (Dapp) Clones

Far beyond Earth and millions of miles past the moon, there’s a planet where Decentralized Finance (DeFi) and NFT-Fi meet on an interoperable network. First observed in 2022, the world known as “Starfish Planet” is home to degens, hodlers, frens and a starfish named Sean.

CoinDeskCoinDesk Staff

Starfish Finance: A cross-chain DeFi, NFT-finance platform on Astar Network, a Polkadot parachain

Starfish Finance is a pioneer project in the Astar incubation project and the first decentralized finance (DeFi) and nonfungible token (NFT) finance platform on Astar Network.

CointelegraphCointelegraph

BTC

BlackRock Files Bitcoin ETF Application With the SEC - Decrypt

BlackRock, with Coinbase as its partner, has submitted an application for a spot Bitcoin ETF following a Thursday morning report.

DecryptNicholas Morgan

ETH

Ordinals Brought Inscriptions to Bitcoin—Now Ethscriptions Land on Ethereum - Decrypt

“The exciting thing for me about Ethscriptions, similar to Ordinals, is that developers are playing around again with blockchain technology.”

DecryptPedro Solimano

Layer 1s/ Major DeFi

Introducing Polygon 2.0: The Value Layer of the Internet

Polygon LabsJune 12, 2023

Uniswap Update Means ‘The Possibilities Are Pretty Endless,’ Says Developer - Decrypt

The platform has announced its fourth version, open sourcing the draft core code for others to build upon.

DecryptPedro Solimano

Arbitrum’s New ‘Layer-3’ Xai Network Is Built to Power Web3 Games - Decrypt

Dedicated gaming network Xai is launching with support from Offchain Labs, with games like Final Form and LAMOverse up first.

DecryptAndrew Hayward

Alchemy’s ChatGPT Plugin Enables Easier Blockchain Analysis Via AI - Decrypt

Alchemy’s new GPT-4 plugin harnesses the power of AI to deliver user-friendly, real-time blockchain analysis.

DecryptJason Nelson

Newly Released Documents Detail Tether’s Exposure to Chinese Securities

Media Obtain Tether’s 2021 Financials Via Freedom of Information Request.

The DefiantSamuel Haig

Investing Platform eToro to Delist 4 Cryptocurrencies for U.S. Users Next Month

eToro cited “recent developments” as the reason for the move, referring to the SEC’s legal action against Coinbase and Binance and the regulator labelling certain cryptocurrencies as securities.

CoinDeskJamie Crawley

Bitcoin, Ether and Stablecoins Total 80% of $1T Crypto Market Cap as Investors Flee Altcoins

The combined market capitalization of BTC, ETH and stablecoins reached the highest level since February 2021, digital asset research firm K33 Research noted.

CoinDeskKrisztian Sandor

U.S. Court Will Rule on Terraform Labs’ Push to Dismiss SEC Lawsuit Within a Month

Terraform Labs’ lawyers argued UST was not a security because it was designed for commerce, rather than as an investment.

CoinDeskNikhilesh De

Twitter

Thread by @trustmachinesco on Thread Reader App

@trustmachinesco: BRC-20 has a lot going for it, but let’s be honest: scalability isn’t one of them 🚧 ORC-20, a new token standard, is looking to change that 🧵 Here’s a problem: Every time you want...…

Thread ReaderTrust Machines

Thread by @0xjaypeg on Thread Reader App

@0xjaypeg: I work full time as a software developer at one of the FAANGs How do I manage to keep up with crypto while working an intense full time job? Here’s my list of the folks /…

Thread Readerjay

Thread by @CirrusNFT on Thread Reader App

@CirrusNFT: Someone just took a $14,500 loan on two Rolexes at 12% APR from a complete stranger all on-chain The Rolexes were sent to an escrow company who then sent back NFTs representing ownership of the watches...…

Thread ReaderCirrus

NFTs

Guy Fieri and Sammy Hagar Launch Web3 Tequila Loyalty Program

The Santo Spirits Club NFT loyalty program will reward members with tiered perks, including an opportunity to win a virtual tequila tasting with Hagar and Fieri, as well as autographed guitars.

CoinDeskRosie Perper

Macro econ/ Regulations

Payment Stablecoins Support the Dollar and U.S. Economic Competitiveness

The demand for safe and secure dollars on the internet is real and growing. The right payment stablecoin regulation can protect and foster U.S. dollar competitiveness.

Circle Internet FinancialJeremy Allaire

South Korean Bitcoin lending platform Delio pauses withdrawals

Delio has attributed the suspension of withdrawals to the recent turmoil surrounding Haru Invest.

CointelegraphJudith BannermanQuist

Research reports/videos (DYOR)

Fighting AI-generated Audio with Attested Microphones and ZK-SNARKs: the Attested Audio Experiment

By Daniel Kang, Kobi Gurkan, and Anna Rose

MediumDaniel Kang

Digiphysical Goods: Bringing Programmable Utility to Physical Pr…

Crypto has created a new field of interaction design for consumer experiences.

Understanding Rollup Value Accrual

One of the key stories in crypto over the last two years has been the rise of Layer 2s. In a short span of time, they have attracted billions in TVL, and transaction volume on Arbitrum alone now rivals that on mainnet Ethereum.

How to Uncensor Any AI Large Language Model Like ChatGPT - Decrypt

All it takes to turn your conservative ChatGPT bot into an unapologetic, full-on NSFW machine is a simple phrase in the prompt.

DecryptJose Antonio Lanz