The DeGen Bible to Financial Freedom - Vol. 3

The DeGen Bible to Financial Freedom - Vol. 3

Week 27 June - 1 July 2022

In case you don’t see BTC, good morning, good afternoon, and good evening - Mars Captain

Please read this week's episode carefully. We're throwing a trivia night covering this week's news & insights ;)

🧠 Observations

  • Total MC dipped  below 1T again. Now at 900B level. Three Arrows ordered to liquidate, FTX buying BlockFi, Celsius still struggling, is that all? 😭
  • Well, USTC and LUNC got pumped, and USTC moved up to almost top 10, but still a stablecoin below $1… Crypto is fun, LOL. 😂
  • There was a USDC FUD this week, but nothing stops this beast’ s eating into USDT’s market dominance. 😈

💵 Stablecoin & Market Landscape

(Last 7 day average) Stablecoin market share remains EXTREME high in reference to the total crypto market capitalization. 15.68% of stablecoin (151.7B) on 0.9T crypto market.

Stablecoin % stayed high throughout the last 7 days, now at 15.68%. Looks flattened? 🤔
Reminder: Mid-NOV 2021, this percentage was around 4ish% with a 3T total MC. Now we are at 15ish% with a 0.99ishT total MC.

Now at 900B, this weekend should bottom until next CPI and FOMC meeting in mid July. 😷
Reminder, we are at the lowest point in the last 365 days for the whole month of June.

Decoupling correlation US Stock x Crypto by CaptainMars on

Decoupling again? This week only 0.17ish correlation with BTC price. Good on ya, boomers, go away from crypto, we don’t need you. 💩

NFTs on sale? ETH down, Floor price down, wen accumulate more bluechips? 🐵

🔢 Index

A little bit of optimism coming back this week, stayed between 10-14 all week long. 😞

What! 10? Why are you in crypto? Why don’t you believe in BTC GOD! 💢

📰 Current affairs


ProShares Launches First ETF to Short Bitcoin - Decrypt
The new exchange-traded fund will begin trading on the New York Stock Exchange on Tuesday under the ticker BITI.
El Salvador Purchases 80 Additional Bitcoin at $19K, President Bukele Says
The last purchase by the Central American country had been in May.
Michael Saylor’s MicroStrategy Purchased Another $10M of Bitcoin Over Past Two Months
The company disclosed buying another 480 bitcoins, bringing total holdings to 129,699 coins.
Bitcoin Miner Bitfarms Sells Coins After Ending ‘Hodling’


Gray Glacier Upgrade Countdown & Node Tracker - - The Ethereum Network & Node Explorer

Layer 1s & DeFi:

Hodlnaut May Have Massive Undisclosed Losses from Terra Collapse
Company appears to have transferred approximately $300 million UST to FTX as the token plummeted in value
Avalanche Bridge Launches Native Bitcoin Support; AVAX Surges 7.4%
The AVAX token is beginning to gain some upside momentum despite a drop-off in DeFi activity.
The Unstablecoin Demise of Terra | Man on the Margin | Classical Economics
Much of crypto levitates on a perpetual inflow of capital for dubious innovation with no underlying economic foundation.
Breaking: Harmony’s Horizon Bridge hacked for $100M
The Horizon Bridge that facilitated token transfers between Harmony and three other chains has been exploited for $100 million.
Anonymous vows to bring Do Kwon’s ‘crimes’ to light
Anonymous has highlighted a laundry list of Do Kwon’s wrongdoings in relation to Terra’s collapse and has vowed to bring his various “crimes” to light.
Solana Branches Out to Hardware Development With Web3 Mobile Phone - Blockworks
The new Solana mobile device will allow users to easily transact with their cryptocurrency, the company said.
Polkadot to scrap its ‘Council’ body in new governance system
Polkadot has announced a new version of its governance system called Governance version 2 (or Gov2).
Wonderland passes vote to invest $25 million in Sifu Vision
Wonderland’s former treasury manager Sifu is going to invest the tokens and try to make a return for Wonderland.
Thread by @resdegen on Thread Reader App
@resdegen: $USN v2.0 has just been announced: “A flexible stablecoin that can adapt to any market conditions” v2.0 Phase I Design: collateralized 1:1 with $USDT + offers a sustainable native yield thanks to $NEAR st...…

NFTs & Metaverse:

Magic Eden raises $130 million and reaches $1.6 billion valuation
Solana-based NFT marketplace has raised $130 million in a Series B funding round and is now valued at $1.6 billion.
The NFT Iceberg: Far Beyond the Hype
Non-Fungible Tokens can, and certainly will go far beyond the hype, with multiple digital applications and impacts on society. Take a deep…
Italian luxury brand Salvatore Ferragamo installs NFT booth in SoHo
Salvatore Ferragamo is launching an NFT collection, following moves by other large luxury brands like Gucci and Prada.
Portuguese soccer star Cristiano Ronaldo partners with Binance for NFT launch
Portuguese soccer star Cristiano Ronaldo has signed a multi-year partnership with Binance to launch a series of NFT collections, the cryptocurrency exchange announced in a July 23 blog post.
Meta Begins Testing NFT Integration on Facebook
The testing of NFTs on Facebook follows a series of pilot integrations on Instagram in May.

Macro Economy & Regulations:

If Tether falls, FTX and Coinbase will let their users pay the price
That price is unlikely to be $1.
Digital Toy Platform Cryptoys Raises $23M From a16z, Dapper Labs, Mattel
The company recent secured a partnership with toy manufacturing giant Mattel to transform some of its most famous products into playable avatars, which can be sold as NFTs.
Binance receives numerous deal proposals amid market downturn, CEO Zhao says
Binance CEO Changpeng Zhao said the company is looking at scores of proposals from crypto firms amid recent market stress.
Huobi Global Could Cut Over 30% of Workforce as China Crackdown Leads to Fall in Revenue
China’s decision to ban crypto trading last year caused Huobi a sharp drop in revenue.
Bankman-Fried Warns: Some Crypto Exchanges Already “Secretly Insolvent”
After throwing lifelines to troubled digital currency exchanges BlockFi and Voyager Digital, Sam Bankman-Fried, the 30-year-old billionaire founder of FTX, warns that many crypto exchanges will soon fail.
Crypto Fund Three Arrows Capital Ordered to Liquidate: Report - Decrypt
A court in the British Virgin Islands has ordered Singapore-based crypto fund Three Arrows Capital to be liquidated, according to recent reports.

Interesting Tweets:

Research Reports & Videos (DYOR):

This Time It Is Not a Crypto Winter
Firstly, what is a Technology Winter?A winter, in the context of a technology cycle, was first used in reference to the AI community back in 1984 in a public debate as ’a chain reaction that began...
Do Kwon’s Crypto Empire Fell in a $40 Billion Crash. He’s Got a New Coin for You.
The South Korean entrepreneur’s cryptocurrency empire collapsed last month. Now, despite angry investors and government investigations, he is attempting a comeback.
Rube Goldberg machine - Wikipedia
Web3 alternatives to Spotify, Youtube, Google, and Instagram
With the advent of decentralization, many dApps (decentralized apps) claim to replace the centralized ones. This new generation of dApps…
Is Learning a Language a Waste of Time?
A few years ago, Google released an ad touting their next big thing: the ability to translate spoken conversations as they happen. The app…
Number Three
(Any views expressed in the below are the personal views of the author and should not form the basis for making investment decisions, nor…