The DeGen Bible to Financial Freedom - Vol. 6

Week 25 July - 29 July 2022

Yesterday, we are sad, bearish or whatever; today, we are bullish, happy or whatever. The media keeps overflowing meaningless information and data to us, and we don’t care. - Mars Captain

🧠 Observations

• 1 month of absolute horizontal development data-wise. Total MC small pumping to 1T+. 🎉
• Market’s actually quite quiet, Twitter’s quiet, even The Merge doesn’t create that much noise. 😪
• DAI’s MC has risen over 10% for 2 weeks now. With ETH’s price & MC moving back up a bit. What do you think? 🤔
• OK, Stablecoin % basically no change as total MC recovers. The only good index pumping is fear & greed, other data points still look crap to me. Are we out of the bear market yet?  No, man, don’t lie to me! 😠

💵 Stablecoin & Market Landscape

(Last 14 day average) Stablecoin market share remains EXTREME high in reference to the total crypto market capitalization. 15.63% of stablecoin (151.2B) on 1.01T crypto market.

Stablecoin % stayed high throughout the last 7 days, now at 15.63%. 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.

Now at 1.13T, FOMC’s less hawkish speech bringing optimism? Excuse me, Powell still raised 0.75 base rate, so why optimism?👀
Reminder, we are still at the lowest point in the last 365 days for the whole month of June.

Extreme high correlation US Stock x Crypto by CaptainMars on TradingView.com

Nothing much to comment, remain pretty high. 😠

Ummm, so the belief that higher hash rate = higher ATH looks dead. Still some relevancy, but definitely we should stop calling this a correlation. 😃

With roughly 6ish % MC difference, whether Arcane’s projection’s right or not, USDC’s dethroning USDT for sure within 2022. 🔝

Bankless built a small profitability model on top tier DeFi protocols. These figures measure performance in the last 6 months (27JAN2022-27JUL2022) 💵

🔢 Index

42? Looks like a speedy recovery, or this is a signal to short? In 3 weeks from single digit to 42. Like almost 5x up. 🤔

Remain 10ish for another week. Do people not like BTC anymore?🙀

📰 Current affairs

Bitcoin:

El Salvador’s Bitcoin Bet Is Working, Finance Minister Says

BloombergMichael D McDonald

Ethereum:

Ethereum’s Final Testnet Merge Set for Early August - Decrypt

Goerli will be the network’s third and final testnet before the merge and transition to proof of stake, which is scheduled for mid-September.

DecryptSander Lutz

Layer 1s & DeFi:

Moonbeam now lets you swap tokens between Polkadot and Cosmos

Moonbeam has integrated with Axelar and Osmosis to enable the transfer of tokens between the Polkadot and Cosmos ecosystems.

The BlockOsato Avan-Nomayo

Aptos closes $150 million round led by FTX Ventures, Jump Crypto

Blockchain company Aptos closes $150 million round, bringing its total funds raised in 2022 alone to $350 million.

The BlockAdam Morgan McCarthy

SushiSwap team nominate a new potential ‘Head Chef’

Howard’s consideration for the head chef of SushiSwap will have to be approved through a community vote.

The BlockAleo to test Virtual Machine ahead of mainnet launch

Harmony proposes minting billions of ONE tokens to pay back hack victims

Harmony’s core team has proposed a hard fork to mint billions of new harmony (ONE) tokens. But its community seems to be against the idea.

The BlockVishal Chawla

Oasis Labs Partners with Meta to Assess Fairness for its AI Models using Cutting-edge Privacy…

A first-of-its kind initiative enabling inclusiveness and fairness

Oasis LabsThe Oasis Labs Team

NFTs & Metaverse:

Uniswap To Integrate Sudoswap To Access Deeper NFT Liquidity - The Defiant

The integration will allow users to purchase NFTs using the Uniswap platform while accessing the on-chain liquidity offered by sudoAMM.

The DefiantJason Levin

Epic Games CEO Tim Sweeney Refuses to Ban NFTs on Epic Games Store

Tim Sweeney has made his position clear on the subject of banning NFTs on his Epic Games Store: “definitely not”

NFT News TodayMax Antony Rapkin

Macro Economy & Regulations:

Three Arrows Capital Founders Break Their Silence, Look to Move to Dubai: Report

The beleaguered duo discussed how one of the most successful crypto funds went from being a prominent trading desk to owing creditors $2.8 billion.

CoinDeskOliver Knight

Sam Bankman-Fried’s FTX May Buy South Korean Crypto Exchange Bithumb: Report - Decrypt

While FTX has declined to comment on the rumor, it’s clear Sam Bankman-Fried’s firm is exploring many options during the current bear market.

DecryptKate Irwin

Binance CEO Sues Bloomberg’s Hong Kong Partner for Defamation

It’s not the first time Zhao and Binance have sued the media.

CoinDeskDanny Nelson

Fed Meets Market Expectations With 75 Basis Point Rate Hike, Bitcoin Jumps 5% - Decrypt

The U.S. Federal Reserve continued raising interest rates today in attempting to get inflation under control.

DecryptAndré Beganski

US Stablecoin Bill Delayed, but Draft Language May Soon Emerge

As negotiations slow the release of a bipartisan bill until possibly September, lawmakers may put out some initial language soon to spur discussion.

CoinDeskJesse Hamilton

Aave DAO Approves the Launch of a Collateral-Backed Stablecoin Called GHO – Bitcoin News

On Sunday, Aave announced that the Aave DAO has approved a new collateral-backed stablecoin for the ecosystem called GHO.

Bitcoin NewsJamie Redman

Unstoppable Domains Reaches Unicorn Status After Latest Raise - Blockworks

A $65 million Series A led by Pantera Capital lifted Unstoppable Domains valuation to so-called unicorn levels

BlockworksBessie Liu

Brazil’s Largest Digital Bank Nubank Reaches 1M Crypto Users After Just a Month

The company reached the milestone in July, 11 months ahead of schedule, and is also exploring asset tokenization.

CoinDeskPaulo Alves

Interesting Tweets:

Research Reports & Videos (DYOR):

Delphi Digital

Delphi Digital Members Portal

Delphi Digital

How Does Macro Impact the Crypto Markets?

Macro has become an ever important theme for the crypto markets and this article explains the important interconnections and trends to watch going forward.

A revisit of Arcane’s stablecoin predictions for 2022: Have they stood the test of time?

Examining Arcane Research’s stablecoin predictions for 2022.

Arcane ResearchØyvind Sjaastad