The DeGen Bible to Financial Freedom - Vol. 16
Week 2 Jan - 7 Jan 2023
🥳
Happy New Year!
The beginning of a boring year, can you hold on?! - Mars Captain
🧠 Observations
- Pretty sure that 2023 will be a boring market all year long 🤡
- USDC might flip USDT MC this year. 👀
- NFT volume showing some resilience, whether it’s wash trading or real retail, it’s worth watching. 📺
- DCG contagion is likely to end within Q1 2023, let’s see what happens with FOMC decision in Feb 2023. 😠
💵 Stablecoin & Market Landscape
Stablecoin market share remains EXTREME high in reference to the total crypto market capitalization. 15.52% of stablecoin (137.9B) on 0.88T crypto market. Flattening trend continues
Reminder: Mid-NOV 2021, this percentage was around 4ish% with a 3T total MC. Now we are at 15ish% with a 1ishT total MC.
- Now at 0.858T. We are at the lowest period since NOV 2021 😭
Reminder: June 2022 witnessed a bottom of 800ish B MC vis-a-vis the market’s top in NOV 2021 at 3T.
- Showing some resilience and user stickiness on Solana. 👍
- Still not too sure if it survives this winter though. 😂
- FRAX semi-algorithmic stablecoin seems to be the last man standing in this field. 🪖
- FRAX has quite some impressive development throughout 2022, though it doesn’t necessarily reflect in its token value. Worth keeping an eye on the project. ❤️
🔢 Index
Bitcoin Fear and Greed Index is 25. Fear
— Bitcoin Fear and Greed Index (@BitcoinFear) January 9, 2023
Current price: $17,338 pic.twitter.com/CaGs1holmm
- No heartbeat for 2 weeks. Hanging on the 20ish level. 🥱
Daily #CBBI status update:
— CBBI - ColinTalksCrypto Bitcoin Bull Run Index (@CBBI_daily) January 9, 2023
https://t.co/YpDBHLshNn
𝐂𝐎𝐍𝐅𝐈𝐃𝐄𝐍𝐂𝐄 𝐒𝐂𝐎𝐑𝐄: 6️⃣
🗓 Jan 9th, 2023
The price of #Bitcoin is $17,280 pic.twitter.com/2vASWEax0w
- OK first week of 2023, it starts at 6. Let’s keep this in mind. 👌
📰 Current affairs
Starfish 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.
CoinDesk 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.
Cointelegraph
Bitcoin:
MicroStrategy To Launch Bitcoin Lightning Solutions In 2023: Saylor
Bitcoin Lightning applications that MicroStrategy plans to release include enterprise infrastructure services and content monetization solutions, Saylor said.
Namcios
BlackRock among bankrupt miner Core Scientific’s creditors
BlackRock committed $17 million of Core Scientific’s new $75 million loan from convertible notes shareholders.
Layer 1s & DeFi:
How Tether Can Be a More Stable Stablecoin
Tether, the world’s biggest stablecoin, has a problem. When the going gets tough, Tether users want out of Tether. What can the company do to change things?
JP Koning
Binance Confirms Integration of Apple Pay and Google Pay
Binance stated on December 29 that its users can now purchase cryptocurrencies using both Apple Pay and Google Pay. The post Binance Confirms Integration of Apple Pay and Google Pay appeared first on Blockchain, Crypto and Stock News.
Anisha
Lido Finance Up 8% After Overtaking MakerDAO’s TVL - Decrypt
After flipping MakerDAO, Lido Finance is now the largest DeFi protocol in terms of total value locked, as liquid staking gains momentum post-merge.
Sujith Somraaj
Bear Attack: Investors Lick Their Wounds After Grim 2022 - The Defiant
Global Markets Had A Volatile Year As Inflation Took Centre Stage
yyctrader
https://www.axios.com/2023/01/04/celsius-bankruptcy-earn-accounts?utm_source=tldrnewsletter
Trader Joe’s DEX and NFT marketplace to expand to BNB Chain
Trader Joe’s integration with Arbitrum and BNB Chain follows a trend of other decentralized finance (DeFi) protocols deploying on multiple chains.
Declining Demand for Binance’s BUSD Represents New Chapter in Stablecoin Wars
The largest crypto exchange’s binance USD stablecoin endured $5.5 billion net redemptions in a month amid concerns about Binance. Top rivals USDT and USDC picked up market share.
Krisztian Sandor
Blockchain Project TON Enters Crypto Storage Market
The TON Foundation aims to solve large-scale data storage problems with the new project.
Asa Sanon-Jules and Shaurya Malwa
Immunefi researcher saves $200 million from potential theft on three Polkadot parachains
An Immunefi researcher was rewarded for finding a critical vulnerability on three parachains in the Polkadot ecosystem.
NFTs & Metaverse:
NFTs That Bucked The Bear Market - The Defiant
Five NFT Collections That Thrived In A Tough Year For Tokenized Art
yyctrader
NFT Sales in 2022 Nearly Matched the 2021 Boom, Despite Market Crash - Decrypt
The NFT market is down bad, but after a hot start to 2022, the year-end sales volume total is almost even with that of 2021.
Andrew Hayward
China Reverses Course on NFTs With Platform Launch - The Defiant
After years of hostility towards the digital asset sector, China appears to be making tentative moves to embrace nonfungible tokens.
Samuel Haig
Shopify Merchants Can Now Sell Avalanche NFTs Through Their Online Stores - Decrypt
Venly’s Avalanche app is now available to all Shopify merchants, letting them mint and sell NFTs through a no-code interface.
Andrew Hayward
Macro Economy & Regulations:
10 Predictions for the Future of Crypto in 2023
What does the next year hold for crypto? We’ve rounded up predictions from smart people in the space – from the bullish to the skeptical.
Jeff Wilser and Xinyi Luo
Crypto’s New Political Vanguard to Watch in 2023 - Blockworks
There’s an incoming class of up-and-coming politicians who have been publicly supportive of crypto causes.
Casey Wagner
Bankman-Fried pleads not guilty to criminal charges
Sam Bankman-Fried pleaded not guilty to an array of criminal charges.
Coinbase to pay $100 million over failure to scale AML as business boomed
The company will pay $50 million to New York’s financial regulator and another $50 million to expand its compliance department.
War-torn Ukraine is Turning to Crypto - Blockworks
Binance is expanding the use of crypto in Ukraine, this time to facilitate purchases of medical goods in the capital, Kyiv
Bessie Liu
French central banker pushes mandatory crypto firm licensing for 2023
Bank of France governor François Villeroy de Galhau is looking to tighten licensing for crypto firms ahead of the MiCA regulation’s roll-out.
Crypto Exchange Huobi to Lay off 20% of Staff: Report - Decrypt
The layoffs would see Huobi join crypto exchanges including Coinbase, Crypto.com and Kraken in making sweeping cuts to staff numbers.
Will McCurdy
Interesting Tweets:
The most valuable thing you need do for 2023:
— Edgy - The DeFi Edge 🗡️ (@thedefiedge) December 29, 2022
The Yearly Crypto Reflection.
It’s how you can turn this year’s pain into life-changing lessons.
I've made it simple for you.
Answer these 14 questions to become a better Crypto investor:
Market concurrences btwn FTX + Genesis (SBF + Barry)
— Zhu Su 🔺 (@zhusu) January 5, 2023
1) FTX and Genesis lowered steth collat ratio from near 100% to 0% on the same day in May, while themselves shorting steth
2) FTX and Genesis bought unlocking Solana together in huge size pre-cliff, Genesis promising loans
All indications are that the Uniswap team is working on a V4.
— michaeljcohen.eth (@mjayceee) January 3, 2023
In this thread, I’m going to discuss what Uniswap V4 might look like and why.
1/🧵
You can generate wealth if you're early to the right crypto narratives.
— Edgy - The DeFi Edge 🗡️ (@thedefiedge) January 5, 2023
Here are 13 narratives you should watch in 2023 (and a few to avoid):
Research Reports & Videos (DYOR):
7 Reasons to Believe in Crypto After 2022 Implosion - Blockworks
Despite the annus horribilis of digital assets in 2022, those who believe in crypto think 2023 has all the makings of a much better year.
Shalini Nagarajan
https://drive.google.com/file/d/1ET__oUi5LeoKBxX2pBZu0FL9AaQ9B56R/view