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

🧠 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 TradingView.com

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

Bitcoin:

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.

DecryptMat Di Salvo

El Salvador Purchases 80 Additional Bitcoin at $19K, President Bukele Says

The last purchase by the Central American country had been in May.

CoinDeskAndrés Engler

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.

CoinDeskStephen Alpher

Bitcoin Miner Bitfarms Sells Coins After Ending ‘Hodling’

BloombergDavid Pan

Ethereum:

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

ethernodes.org

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

Dirty Bubble MediaDirty Bubble Media

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.

CoinDeskOliver Knight

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.

Man on the MarginMichael Kendall

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.

CointelegraphBrian Newar

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.

CointelegraphFelix Ng

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.

BlockworksJocelyn Yang

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).

The BlockWonderland passes vote to invest $25 million in Sifu Vision

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.

The BlockDecentral Bank pauses use of NEAR tokens for minting USN stablecoin

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...…

Thread ReaderRes ®️

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 Block[email protected]

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…

MediumWefy

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.

The BlockBabel Finance plans to work with restructuring group Houlihan Lokey: CoinDesk

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.

The BlockEl Salvador purchases 80 additional BTC at $19,000 each

Meta Begins Testing NFT Integration on Facebook

The testing of NFTs on Facebook follows a series of pilot integrations on Instagram in May.

CoinDeskOliver Knight

Macro Economy & Regulations:

If Tether falls, FTX and Coinbase will let their users pay the price

That price is unlikely to be $1.

networkedJay Pinho

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.

CoinDeskJamie Crawley

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.

The BlockCoinFLEX cancels withdrawals resumption plan

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.

CoinDeskOliver Knight

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.

ForbesSteven Ehrlich

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.

DecryptLiam J. Kelly

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...

Outlier Ventures | The Open Metaverse accelerator.read more

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.

WSJAlexander Osipovich in New York and Jiyoung Sohn in Seoul

Rube Goldberg machine - Wikipedia

Wikimedia Foundation, Inc.Contributors to Wikimedia projects

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…

MediumFlint

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…

MediumSam Quillen

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…

Entrepreneur's HandbookArthur Hayes

CONTAGION REPORT June 2022:
https://www.docdroid.com/EWhS190/bm-pro-contagion-report-2022-06-pdf