The DeGen Bible to Financial Freedom - Vol. 17

The DeGen Bible to Financial Freedom - Vol. 17

Week 2 Jan - 7 Jan 2023

Happy Chinese New Year!

DeFi is inevitable - Mars Captain

🧠 Observations

  • Nothing justified the small squeeze in the last few days. If you look at the Stables/total MC ratio, we might assume around 2% of stables pushed the risk-on assets’ ~20% up. Can’t say if there is new $ coming in to pump the market. 🤡
  • The year is starting quietly, don’t forget FOMC in Feb 2023 and the Chinese are having their new year. 🏮

💵 Stablecoin & Market Landscape

Stablecoin market share remains EXTREME high in reference to the total crypto market capitalization. 14.08% of stablecoin (138B) on 0.98T 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 0.98T. Re-bounced a bit, struggling in the 1T level in the last few days.  😳
Reminder: June 2022 witnessed a bottom of 800ish B MC vis-a-vis the market’s top in NOV 2021 at 3T.

Solana showing resilience
  • The moral is, EVM chains might just get less and less traction as competition intensifies. Solana being a leader in non-EVM ecosystems serves more than its symbolic value. (Personally, I don’t like Solana, but facts are facts, they are resilient. 💪

Ideal Product model
  • Do you agree or disagree? 🤔

🔢 Index

  • Doesn’t make sense at all, doubled in 10 days, and you look at the small pump + CBBI, guys be careful. ⚠️

  • Raised a few points to double digit, still very low. 😷

📰 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.


Ethereum developers eye February public testnet for Shanghai upgrade
The Shanghai upgrade of the Ethereum network in March will focus exclusively on ether (ETH) withdrawals.

Layer 1s & DeFi:

Lido Rides Liquid Staking Wave To Become Largest DeFi Protocol - The Defiant
LDO, RPL, FXS and SWISE Outperform Broader Markets
Flare Launches Layer 1 Oracle Network - The Defiant
Dubai, UAE, 10th January, 2023, Chainwire Flare, the blockchain for building applications that use data from other chains and the internet, has successfully completed its long-awaited token airdrop at 11:59 pm UTC on January 9th. The airdrop saw 4.279B Flare (FLR) tokens distributed to millions of r…
Twitter Developing ‘Coins’ Feature With Stripe Payments - Decrypt
Though not necessarily blockchain based, Twitter will support giving “Awards” such as “Mind Blown,” “Bravo,” and “Bullseye,” to name a few.
Research: USDC adoption on Ethereum grows post-FTX collapse; USDT remains flat
After a brutal sequence of events led to the collapse of several crypto-related firms in 2022, FTX’s bankruptcy dealt a massive blow to public trust in centralized crypto entities. The post Research: USDC adoption on Ethereum grows post-FTX collapse; USDT remains flat appeared first on CryptoSlate.
Binance.US Receives Initial Approval To Buy Voyager’s Assets For $1B - The Defiant
Deal Faces Hurdles From SEC and CFIUS
Lens Protocol lets creators issue token-gated content
Gated publications on Lens Protocol can now let content creators offer exclusive content to their followers who hold certain tokens.
AWS partners with Avalanche to scale blockchain solutions for enterprises, governments
Amazon Web Services, AWS, has partnered with Ava Labs, the company building out layer-1 blockchain Avalanche, to scale blockchain adoption
Gitcoin To Test Decentralized Funding Protocol - The Defiant
Round Will Run From Jan. 17 Through Jan. 31
Binance to Support Terra Classic Upgrade Eliminating Re-Minting of Burnt LUNC Tokens - Decrypt
The industry’s largest crypto exchange Binance has confirmed it will support the upcoming network upgrade of Terra Classic (LUNC).

NFTs & Metaverse:

Bluechip NFT project Moonbirds signs with Hollywood talent agents UTA
Following the deal with Hollywood talent agents UTA, trading volumes for Moonbirds NFTs tanked 57.86% over the last 24 hours.
Mastercard Taps Polygon for Web3 Artist Accelerator - Decrypt
Mastercard plans to leverage Polygon to help guide musical artists into the Web3 space, including with minting their own NFTs.

Macro Economy & Regulations:

‘Binance Effect’ Means 41% Price Spike for Newly Listed Tokens
A study by Ren & Heinrich suggests that Binance’s emergence as the dominant global crypto exchange might mean that its individual token listings are now getting a lot more attention – at least among speculators.
Coinbase Lays Off 950 Staff, Cuts Operational Costs By 25%
Coinbase is axing more staff and reducing costs to navigate the ongoing crypto bear market, which looks soon to be the longest on record
Dubai Free Zone Now Home to More Than 500 Crypto Startups
In Dubai, a dedicated crypto hub for local entrepreneurs has attracted twice as many digital asset startups last year than in 2021
Cathie Wood’s Ark Invest Boosts Coinbase Holdings by Another $1.45M - Decrypt
Despite tough times for Coinbase, Ark Invest’s $1.45 million COIN purchase yesterday makes it the firm’s eleventh buy in less than a month.
FTX Has Recovered ‘Over $5B’ in Assets, Bankruptcy Attorney Says
The announcement substantially raises the total FTX has recovered since filing for bankruptcy last year but it’s still short of what customers are owed in total.
El Salvador Passes Law Paving the Way for ‘Volcano Bond’
The digital asset bill in the Legislative Assembly obtained 62 votes in favor and 16 against.
Cathie Wood’s ARK Adds Nearly $3.3M Shares of Coinbase
The second purchase of Coinbase’s shares in a week comes as the exchange continues a week-long rally.
Justin Sun eyes up to $1 billion spend on DCG assets: Reuters
Justin Sun told Reuters that he’s considering buying as much as $1 billion of Digital Currency Group’s assets.

Interesting Tweets: