Week 11 August - 17 August 2023
Can't be wrong - Mars Captain
- Inflation is not doing better, it is only going worse. If a normal family struggles to make their ends meet in a developed economy, those in developing economies are fighting a losing game. Countries like Argentina, Turkey, and most African states, their size is indeed size. Macro economy is looking quite gloomy.
- Captain believes the market has bottomed a while ago and we are living a long consolidation post-winter-pre-spring period. There is a rise of innovative tokenomics and products if we look closely. Just there is little need to follow every hype from Base to Sei. Hamster race and Rollbit aren't built on new ecosystems. Sometimes in life, the older the wiser ;)
- While Degenz chase Layer 2 narratives, there are many things going on in the stablecoin wars. Binance jumps from BUSD, to TUSD, to FDUSD, and is working on an algorithmic stablecoin; Singapore releases regulation framework for stablecoin issuer; Hong Kong is about to do something similiar. AAVE is experimenting the concept of LSD-Fi backed GHO. With all the unstable fiats, stablecoins nominated in USD will become more and more popular. The LUNA-UST need a heir. Who will win the throne?
💵 Stablecoin & Market Landscape
- Stablecoin market share remains high in reference to the total crypto market capitalization. 10.54% of stablecoin (124.4B) on 1.18T crypto market.
Reminder: Mid-NOV 2021, this percentage was around 4ish% with a 3T total MC. Now we are at 10ish% with a 1ishT total MC.
- Now at 1.18T. 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.
- Trading BTC futures is most profitable on Tuesday.
- Captain said it multiple times already that BSC is the queen of EVM, and Binance FUD shouldn't be concerning the chain. People need to look at things relatively to know where the exact position they are sitting.
- Similarly, if we want to fight the king, we need to know who's the king; if we want to challenge the king and position as another king; or if we want to catch up with the king, and choose to be a queen or a prince.
- Rollbit team is dedicated to use the revenue their work generates to anchor their token value, which is the best practice so far we can see in relation to crypto economics. Even Uniswap wouldn't be as generous.
- The Starfish team has been studying such a model. Stay tuned!
- Crypto technologies have so many edges against corrupted fiat and state controlled monetary policies.
- Money wants to be free, and free market is the best circumstances to foster the most resilient product.
- Finally declining, or shall we say, matching the market sentiment & price level?
- CBBI just renewed their algorithm, and the index is pumped to 41! Reminder, when $BTC was ATH in November 2021, it was at around 67-69. We should be watching this more closely!
📰 Current affairs
Nothing much this week.
Layer 1s/ Major DeFi
Macro econ/ Regulations
Research reports/videos (DYOR)