The DeGen Bible to Financial Freedom - Vol. 22
SVB bankrupt, USDC depeg took all the attention everywhere. 4 weeks in a roll, eyes on BTC based projects, ordinals, Stacks, etc. Market trend remains uncertain given all the macro unhealthy indicators. US stock market is still unprecedentedly high.
Week 8 Mar - 14 Mar 2023
On your knees when you face the Market - Mars Captain
🧠 Observations
- SVB bankrupt, USDC depeg took all the attention everywhere. Indeed, it was big and not cool. But soon, government bailout? WTF? How can you be a titan when you mess up and crying for MaMa? I thought this world was about crypto, not the boomer economy?
- 4 weeks in a roll, eyes on BTC based projects, ordinals, Stacks, etc. Crypto 1001, regulation is unnecessary in a free market. If you are in this for more regulation, please go back to TradFi, or Web2, or sell Hotdogs.
- Stablecoin MC continues to decline, don’t be over optimistic and assume the stables flew to risk-on assets 100%, they might have just left the market and return to the fiat economy. Market trend remains uncertain given all the macro unhealthy indicators.
- Crypto vs US Stock market momentarily decoupling? US stock market is still unprecedentedly high. Crypto has always been more fluid and ahead of stocks. If crypto has bottomed, that means the stocks will bottom in the foreseeable future, but if the correlation between the two heightens again, then crypto will fall further.
💵 Stablecoin & Market Landscape
- Stablecoin market share remains high in reference to the total crypto market capitalization. 12.15% of stablecoin (134B) on 1.11T crypto market.
Reminder: Mid-NOV 2021, this percentage was around 4ish% with a 3T total MC. Now we are at 12ish% with a 1ishT total MC.
- Now at 1.11T. Still hanging around on the 1T level. Going steady.
- No need to be too excited with BTC 20% pump on 13MAR2023, we are just back to where we were 20 days ago.
Reminder, June and Nov 2022 witnessed a bottom of 800ish B MC vis-a-vis the market’s top in NOV 2021 at 3T.
- This is worrying. Following US centric monetary policy volatility will endanger every sector of the economy.
- How different is the world today compared to previous years of similar money supply pattern? That’s the question we need to time as researchers/investors.
🔢 Index
Bitcoin Fear and Greed Index is 56 — Greed
— Bitcoin Fear and Greed Index (@BitcoinFear) March 14, 2023
Current price: $24,664 pic.twitter.com/stH41r3bHs
- Silvergate, SVB, and more banks to come, then Binance pumped 1B USD in BTC, BNB, ETH. WDYT about this market cap & price level vis-a-vis this greed level. NGMI long, sorry.
Daily #CBBI status update:
— CBBI - ColinTalksCrypto Bitcoin Bull Run Index (@CBBI_daily) March 13, 2023
https://t.co/YpDBHLshNn
𝐂𝐎𝐍𝐅𝐈𝐃𝐄𝐍𝐂𝐄 𝐒𝐂𝐎𝐑𝐄: 1️⃣5️⃣
🗓 Mar 13th, 2023
The price of #Bitcoin is $22,157 pic.twitter.com/zZ9qt7fwn2
- SVB bankruptcy pumping people’s confidence in 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.
CoinDesk 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.
Cointelegraph
BTC
Yuga Labs’ Bitcoin NFT Collection Fetches Top Bid of Nearly $160K
The company behind Bored Ape Yacht Club generated $16.5 million from its auction of 288 NFTs in its TwelveFold collection based on the Ordinals protocol.
Cam Thompson
What Is a Sovereign Rollup? Rollkit Pitches Second Layer for Bitcoin - Decrypt
The data availability layer proposal draws inspiration from Ordinals and reminds some developers of Stacks.
Andrew Throuvalas
People Are Minting ‘BRC-20’ Meme Tokens on Bitcoin via Ordinals - Decrypt
Ordinal inscriptions hit a new daily peak Thursday after someone figured out how to mint a form of “fungible tokens” on Bitcoin.
Jason Nelson
ETH
Staked ETH Withdrawals Could Be Imminent - The Defiant
Ethereum Developers Schedule Final Shapella Rehearsal For March 14
Samuel Haig
Layer 1s/ Major DeFi
Tether’s USDT Stablecoin Market Share Rises to Highest Level in 15 Months
USDT’s market share among stablecoins surpassed 54% on Monday, its highest level since November 2021.
Krisztian Sandor
Esports Giant TSM Enters Into Web3 Gaming Partnership With Avalanche
Avalanche will be TSM’s exclusive blockchain partner as it builds out its competitive gaming platform, Blitz.
Rosie Perper
Traders Dump USDC After Silicon Valley Bank and Silvergate Fail - The Defiant
Traders are moving out of USDC, crypto’s second largest stablecoin after Circle said it banked with failed Silicon Valley Bank (SVB) and Silvergate Bank. Circle is the issuer of USDC.
Owen Fernau
Brave Browser Now Lets Users Sell Crypto Within the Wallet - Decrypt
The privacy-centric browser is trying to boost crypto self-custody by providing an off-ramp within its integrated wallet.
Jason Nelson
The Trojan Horse of DeFi (Part 1): @Uniswap is an Options Market disguising itself as a DEX
— DeFi Devin (@0xDevinG) March 6, 2023
A deep dive into the mechanics of Automated Market Makers (AMMs) and the similarity to the dynamic hedging strategies of TradFi MMs 🧵👇 pic.twitter.com/bbu8KScMj9
There is a new UPCOMING crypto narrative that big players like Binance, Coinbase, Messari, Polkastarter, and Chainlink are talking about.
— Crypto Gideon🦇🔊 (@CryptoGideon_) March 7, 2023
We are still early and the potential is enormous.
Position yourself before the masses to reap huge rewards.💰
How to profit from RWAs:🧵 pic.twitter.com/1soAaW1Hot
Never seen such smart addresses!
— Lookonchain (@lookonchain) March 13, 2023
- Made $4.14M by trading $ETH during $USDC depegging!
- Dumped $ETH before UST/LUNA crashed!
- Buy $SHIB early and sell all $SHIB at the May and October 2021 price peaks.
Currently holds over $71.72M (the cost may be only $400K).
1.
🧵Thread
2021 bull experienced 57 100Xers just in CMC top 300.
— Verum Capital (@verumcapital) March 8, 2023
What were their tokenomics?
CMC historical data analysis + tokenomics strategy for next bull 🧵 👇
1/20 pic.twitter.com/dCcgll27dC
NFTs
Illuvium Launches ‘Beyond’ Collectible Card Game - The Defiant
Project To Stash Sale Proceeds To Weather Macroeconomic Uncertainty
Samuel Haig
BREAKING: In Huge Blow for NFTs, Facebook and Instagram Step Back | CoinMarketCap
The company says it’s looking for “other ways to support creators, people and businesses.”
CoinMarketCap
Macro econ/ Regulations
How to survive in crypto long-term (without getting lucky)
Thanks for reading The Black Swan 📈! Subscribe for free to receive new posts and support my work. How to survive in crypto long-term (without getting lucky)First of all, if you want to make money in crypto you have to play the long game. Secondly, the people in crypto you look up to today all start…
Route 2 FI
Amazon NFTs Will Be Tied to Real-world Assets, Token Possible
Amazon NFTs are coming soon - and they will be tied to physical, real-world goods with ownership recorded on a private blockchain.
Michael Bodley
Sygnum Bank sees influx in client inquiries as Silvergate winds down
“We received quite a number of inquiries, I would say especially from the funds and hedge fund side,” said Martin Burgherr, chief clients officer at Sygnum Bank.
Kari McMahon
US Court Approves Binance.US’s $1.3B Bid For Voyager Client Assets - The Defiant
Binance’s Regulatory Woes Still Threaten To Derail Deal
Samuel Haig
Attorney General James Continues Crackdown on Unregistered Cryptocurrency Platforms
Click to read more.
Web3 Startup Helps Indonesia’s Tourism Economy Survive
Quantum Temple aims to safeguard the cultural heritage of communities worldwide using Web3 tech, namely NFT royalties
Sebastian Sinclair
Research reports/videos (DYOR)
Weird crypto quirk sees user turn $1.45 into $2 million
The user was reacting quickly to a situation where another user had unbalanced a Curve pool while losing a similar amount of money.
Tim Copeland