The DeGen Bible to Financial Freedom - Vol. 16

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.

Total Crypto Market Cap Chart
  • 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

  • No heartbeat for 2 weeks. Hanging on the 20ish level. 🥱

  • 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.
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.


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.
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?
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.
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.
Bear Attack: Investors Lick Their Wounds After Grim 2022 - The Defiant
Global Markets Had A Volatile Year As Inflation Took Centre Stage

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.
Blockchain Project TON Enters Crypto Storage Market
The TON Foundation aims to solve large-scale data storage problems with the new project.
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
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.
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.
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.

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.
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.
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
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, and Kraken in making sweeping cuts to staff numbers.

Interesting Tweets:

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.