The DeGen Bible to Financial Freedom - Vol. 9

Week 12 Sept - 18 Sept 2022

Beat the bear, kill the bear, eat the bear - Mars Captain

🧠 Observations

• Nothing but the Merge. Now it’s done. What’s the next narrative out there? 🥱
• ETH maxis & US dominated media start to spin post-Merge blockchain world, ETH will become deflationary, so it must moon for hodlers. Well, ETH is to moon whether there is the Merge or not the Merge. Tech is one thing, Coin is another thing. 🌕
• Xi travels the first time internationally since COVID broke out. Oh, there is no COVID outside the Middle Kingdom? Pray for some changes in Chinese economy, it will change big for everyone. 🤡

💵 Stablecoin & Market Landscape

Stablecoin market share remains EXTREME high in reference to the total crypto market capitalization. 15.23% of stablecoin (152.39B) on 1T crypto market. Flattening trend continues

• (From DeFiLama) BUSD & USDC merge on Binance coming soon. ‍👀
• Stablecoin market share remains EXTREME high in reference to the total crypto market capitalization. 15.23% of stablecoin (152.39B) on 1T crypto market. 🐻

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 1T, the last two months has been playing with the 1T MC line. 😓

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

• Wage growth vs inflation is still quite correlated. You may argue that wage growth doesn’t go 100% with inflation, but you can’t say you are earning less. If you are earning less, you should be your own problem. 🤡

• Peter Schiff, can you comment on this? I thought btc was bullshit and gold would prevail for centuries. Please kindly comment. 😊

🔢 Index

• Keep it low, keep it low, we don’t need greed now. 🆓

• Single digit for 3 weeks now! Come on BTC!!! 🔞

📰 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.

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

$SEAN Private Sale Round 2 — #SeanInvasion

LFG Starfishes, our Private Sale Round 1 witnessed an oversubscription way beyond the Starfish team’s expectations! Cheers mates, thank…

MediumStarfish Finance

Bitcoin:

Bitcoin Drops Below $22,000 As U.S. CPI Declines Less Than Expected To 8.3%

Bitcoin failed to hold $22,000 as declines in energy prices drove down U.S. CPI less than expected to 8.3% in August; all other sectors rose MoM.

Bitcoin Magazine - Bitcoin News, Articles and Expert InsightsShawn Amick

https://www.sec.gov/Archives/edgar/data/1050446/000119312522241978/d359206d424b5.htm

Ethereum:

Ethereum Fork ETHW Plummets 62% Just Weeks Before Merge - Decrypt

The miner-led Ethereum fork ETHW appears to already be losing its appeal among traders—before it’s even really launched.

DecryptSander Lutz

Tether CTO Paolo Ardoino on The Merge: ‘Ethereum still doesn’t match Bitcoin’

Paolo Ardoino, CTO of Tether and Bitfinex, said today that Ethereum still doesn’t match Bitcoin because its narrative keeps shifting.

The BlockAn NFT minted after The Merge cost $60,000 in transaction fees

Grayscale Says It May Sell ETHW Stash, Distribute Value to Ethereum Fund Investors - Decrypt

Grayscale today declared its ETHW holdings with the SEC and said it may, at its “sole discretion,” decide to sell the forked Ethereum coins.

DecryptMat Di Salvo

Layer 1s & DeFi:

Tether’s USDT stablecoin launches on Near blockchain

Near has become the 13th blockchain to host Tether’s USDT stablecoin.

The Block[email protected]

Thread by @otaku_1996sol on Thread Reader App

@otaku_1996sol: A potential recent move that might be a catalyst to bring more eyes to Solana. 🧵The Helium Network is moving entirely to SOL 🧵 1/🧵 Launched in July 2019, Helium is a distributed network of...…

Thread Readerotaku.sol

South Korean Court Issues Arrest Warrant for Terra Co-Founder Do Kwon

The warrant also includes five others, according to a report.

CoinDeskParikshit Mishra, Oliver Knight and Felix Im

DeFi Lender Compound Takes Bite of Institutional Crypto Loans Pie

Compound will take bitcoin as collateral against stablecoin loans made by institutions.

CoinDeskDanny Nelson

Dogecoin Now Second-Largest Proof-of-Work Coin After Ethereum Merge - Decrypt

With Ethereum’s switch to proof-of-stake, Dogecoin is now second only to Bitcoin among minable, proof-of-work coins.

DecryptJason Nelson

NFTs & Metaverse:

Doodles announces $54 million raise, plots hiring spree

Doodles announced a $54 million raise on Tuesday led by Reddit co-founder and NFT enthusiast Alexis Ohanian’s venture capital firm 776.

The Block[email protected]

Mean Girls set to make Web3 comeback as “crypto-collectibles”

Paramount Pictures has filed two trademarks for its Mean Girls brand, covering crypto-collectibles and NFTs.

CointelegraphJudith BannermanQuist

Web3 is creating a new genre of NFT-driven music

Adrien Stern, CEO of Reveel, told Cointelegraph that NFT music isn’t a genre rather an “anti-genre” full of diversity and creativity.

CointelegraphSavannah Fortis

Macro Economy & Regulations:

Starbucks to Offer NFT-Based Loyalty Program Using Polygon’s Blockchain Technology

Starbucks Odyssey will allow customers to purchase digital collectible stamps in NFT form that offer benefits and immersive experiences

CoinDeskJamie Crawley

Linux Foundation announces the OpenWallet Foundation to develop interoperable digital wallets

Regulatory bodies across the globe are moving to support competition through enforcing interoperability across systems, including Europe.

TechCrunchPaul Sawers

U.S. Permits Tornado Cash Users to Access Crypto Deposits - The Defiant

U.S. residents with crypto trapped on Tornado Cash may now apply for a license from the U.S. Treasury Department to retrieve their funds.

The DefiantSamuel Haig

Possession of Bitcoin still legal in China despite the ban, lawyer says

One of the world’s most hostile countries toward Bitcoin, China has not yet banned the possession of cryptocurrencies.

CointelegraphHelen Partz

https://watcher.guru/news/celsius-network-ceo-plans-revival-after-crypto-crash?utm_source=tldrnewsletter

Interesting Tweets:

Research Reports & Videos (DYOR):

Wait, It’s Real? What is Berachain?

Exploring the tri-token structure of Berachain, proof of liquidity consensus, and figuring out if a Bera really built this chain

In Web3, Free (to Own) is Good

Recently I’ve been excited about the opportunity for NFTs to unlock direct-to-consumer \*everything\* in ways that can bridge a tighter relationship between two parties. Where I’ve landed is that the value doesn’t rest solely on paid NFTs (“I pay to be a part of this”) but through free NFTs as well…

‘WAGMI’ Is Dead: Pplpleasr, UnicornDAO, TIME President Weigh in on NFTs - Decrypt

The “Future of NFTs” panel at SALT offered a sobering look at the NFT bear market and the Ethereum Merge.

DecryptKate Irwin

2022 Global Cryptocurrency Adoption Index - Chainalysis

For the third consecutive year, the Chainalysis 2022 Global Crypto Adoption Index ranks all countries by grassroots cryptocurrency adoption.

ChainalysisChainalysis Team

1 Year of Bitcoin in El Salvador: The Bad, the Good and the Ugly

Despite many real stumbles and skeptical mainstream coverage of Nayib Bukele’s bitcoin initiative, both tourism numbers and remittance usage are already showing meaningful payoffs.

CoinDeskDavid Z. Morris

https://spectrum.ieee.org/cryptokitties