The DeGen Bible to Financial Freedom - Vol. 4

The DeGen Bible to Financial Freedom - Vol. 4

Week 4 July - 8 July 2022

We will not surrender - Mars Captain

🧠 Observations

  • Total horizontal development data-wise. But total MC briefly moved back to 1T. 👀
  • Quiet week, if we don’t follow Voyager bankruptcy, or 3Arrows brothers’ disappearance. 😪
  • Pay attention to Sri Lanka’s default, Russo-Ukrainian war, and further inflation attacking major economies. Looks like crypto doesn’t care about macro unrest anymore, which is a good thing. ❤️

💵 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 0.95T crypto market.

Stablecoin % stayed high throughout the last 7 days, now at 15.68%. Flattening trend continues 🤔
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 950B, regained a bit the MC, but we still have some macro events ahead, most notably the FOMC on 25-26 JUL. 🤮
Reminder, we are at the lowest point in the last 365 days for the whole month of July.

Extreme high correlation US Stock x Crypto by CaptainMars on

Can’t decoupling continue? This week moved back up to 0.8ish. I really hate investors taking crypto as stock. Why crypto if it’s just another stock? Come on! 😠

Layer 2 summer? Both Arbitrum and Optimism are doing good. Bankless is pumping L2 Summer if you look for speculating narratives. 🎄

Inflation, you kidding me?

Wen developed world’s folks crying for 8-10% inflation, they just don’t care what’s going on in some other parts of the world. BTC is the holy grail against inflation. 🤦‍♂️

Developer activities in dierentecosystems

Ethereum is king, Polkadot is queen? This diagram shows us which are bluechips! 💙

🔢 Index

Ummm, pumped up to 20ish this week. That’s a lot for a bear market if you compare it to F&G index? Doesn’t look very natural... 🤔

Remain 10ish. That makes sense 🧊

📰 Current affairs


Crypto Miner Core Scientific Dumps $165M Bitcoin to ‘Enhance Liquidity’ - Decrypt
Core Scientific chief Mike Levitt said the miner sold over 7,000 Bitcoin to cover costs amid an economy dealing “with historic inflation.”


Ethereum’s Sepolia Testnet Successfully Switches to Proof-of-Stake
The Sepolia proof-of-work chain merged with its proof-of-stake chain on Wednesday, taking Ethereum one step closer to its own Merge moment.
Ethereum Name Service Registrations Spike 216% in One Week - Decrypt
Over 100,000 Ethereum Name Service domain names were registered in the past week, with secondary sales booming despite the crypto winter.

Layer 1s & DeFi:

Celsius seeks show of client support as lawyers push for Chapter 11 bankruptcy
The embattled crypto lender is resisting a recommendation from its own lawyers to file for Chapter 11 bankruptcy — and seeking a show of support from users.
Nexo Signs Term Sheet With Vauld for Potential Acquisition
Nexo said it has a 60-day exclusive due diligence period in which to decide whether it will buy up to 100% of Singapore-based Vauld.
Voyager Digital Commences Financial Restructuring Process to Maximize Value for All Stakeholders
/PRNewswire/ - Voyager Digital Ltd. (“Voyager” or the “Company”) (TSX: VOYG) (OTCQX: VYGVF) (FRA: UCD2), today announced that it has commenced a voluntary...
Shiba Inu Plans to Launch Stablecoin, Reward Token, Collectible Card Game
SHIB prices hardly budged on the news but gas token BONE and ecosystem token LEASH rallied.
DOGE Rises: Elon Musk Accepts Crypto at Another Company
DOGE finds support in a construction and infrastructure company owned by Elon Musk. The corporation will accept DOGE as a payment currency.

NFTs & Metaverse:

Lamborghini-backed motor racing team adopts NFT authentication for car parts
Lamborghini Squadra Corse GT racing team Vincenzo Sospiri said that it will begin using NFTs to certify and authenticate factory car parts.
Nike-owned RTFKT grants CloneX holders commercial rights to NFTs
The change will allow owners to create derivative projects, mint fan art and make and sell merchandise featuring their avatar.
Buy a Bored Ape Now and Pay Later With New Service for Ethereum NFTs - Decrypt
Teller’s Polygon-based platform will let users make a down payment and take a loan to buy “blue chip” Ethereum NFTs.

Macro Economy & Regulations:

Three Arrows Capital files for Chapter 15 bankruptcy in New York
Crypto hedge fund Three Arrows Capital has filed for Chapter 15 bankruptcy in New York.
EU reaches agreement on final landmark crypto regulation
The European Union has finalized its massive Markets in Crypto Assets regulation.

USD stablecoin premiums surge in Argentina following economy minister’s resignation
Argentine citizens have flocked to U.S. dollar-pegged stablecoins including USDT over the weekend amid a shaky economic outlook for the country.
Circle CEO Says USDC Stablecoin Provider Is in ‘Strongest Position’ Ever - Decrypt
Circle, the company behind the USDC stablecoin, is in its strongest financial position ever, according to CEO Jeremy Allaire.
Salary payments in USDT stablecoin ruled as illegal in the Chinese court
A court in China has ordered the defendants to pay his employee $40,000 in wages using the national currency instead of the USDT stablecoin as they insisted.
Dump Incoming? Celsius Pays Back Maker Loan, Moves $440M in Wrapped Bitcoin to FTX - Decrypt
After a final $41.2M payment on its Maker loan, crypto lender Celsius withdrew its $440M worth of collateral. It now has $531M on FTX.
HTC launches metaverse phone with Ethereum, Polygon support
HTC launched metaverse phone “Desire 22 Pro” on Tuesday, which comes with a digital assets wallet and virtual reality (VR) headset pairing feature, as part of the Taiwanese firm’s Web3 expansion. See related article: Solana bets on mobile, launches US$1,000 ‘Saga’ Web3 phone Fast facts HTC preloaded…

Interesting Tweets:

Research Reports & Videos (DYOR):

How to Value NFT Fundamentals
Art I PFPs I Collectibles I Games I Metaverse Assets I Historical Artifacts I Utility
Defining “NFT” in historical context
NFT is a weird three-letter acronym. Even the people who are involved in NFTs are not exactly sure how to define an NFT. No wonder the normie world is confused. Expanding the acronym just makes things worse: Non-Fungible Token is still ambiguous.