💯 Bitcoin 2021 recap 💯
At Bitcoin 2013, the price of one BTC was $130, and crowd size was also in the hundreds. This time around 50,000+ people descended on Bitcoin 2021, and the price of one BTC is $32K. 📈
But the epic Bitcoin conference that just shook up Miami wasn’t about BTC prices or crowd estimates. It was about bringing the crypto community together to make it stronger.
After a crazy pandemic year filled with shutdowns, market meltdowns, and isolation, arriving in Miami with thousands of other apes was in and of itself a victory. Months of tweeting at each other from worlds apart has been fun, but finally meeting Crypto Twitter heavy hitters at our Stacked Yacht Party was way better. 😍
Legends like The Crypto Dog, Crypto Kaleo, Ledger Status, and Luke Martin mingled aboard the yacht. At the same time, everyone’s amazement at meeting the real human beings behind the cartoon avatars was tangible.
In the words of Stacked CEO Bitcoin Birch, Miami proved that your net worth is your network. 👍
Whether you made it to Miami or not, the lesson is the same — the crypto community is strongest when we’re all together.
Is this the bottom? A case for hopium
Bitcoin has been chopping around in the $30K region for weeks without clear direction. Trader sentiment has also turned utterly negative as the Fear and Greed Index turns up an Extreme Fear score of 13. 😳
For reference, the Fear and Greed Index hit a 10 during the March 2020 crash, after which BTC and the rest of the crypto market went on a year-long bull run. With sentiment approaching a historic low, there’s reason to believe the bottom might be near.
To put things in perspective, after the previous crash, BTC equaled its previous ATH at $20K, then went on to triple it. Euphoric rallies are always bound to consolidate, but this correction’s violence has been unexpected.
The sheer amount of price history and support in the $20K region means BTC bulls will aggressively defend any dips below $30K. Institutional and corporate buyers such as Tesla are now underwater (Tesla is down 15% on its $1.5B purchase) but definitely have the resources to protect their positions.
Should they step in as we chop lower, a strong bounce with the potential for $50K might be in the cards. 📈
🇸🇻Nayib Bukele is the hero BTC needs 🇸🇻
If there was ever a doubt that Bitcoin is the world’s future reserve currency, Nayib Bukele, the President of El Salvador, has temporarily laid them to rest.
Shortly after equipping his Twitter pic with laser eyes, Bukele introduced legislation to adopt Bitcoin as legal tender. The move would make El Salvador the first country in the world to do so. 🤴
While some expected other Latin American countries to vehemently reject the move, the effect has been exactly the opposite. Legislators in Mexico, Panama, Paraguay, Nicaragua, Brazil, and Argentina have all signaled support for Bitcoin by switching over to laser eyes in light of Bukele’s move.
Is El Salvador’s BTC legalization effort the first domino to fall in a movement that sweeps all of Latin America? ❓ The region has long been considered ripe for crypto adoption because of the volatility of regional currencies.
Nayib Bukele enjoys a 90%+ approval rating amongst El Salvadorans,🤔 giving the bill’s chances of approval equally high odds. Assuming the bill passes, we’ll be ready to watch the fireworks as neighboring countries introduce BTC legislation of their own.
At Bitcoin 2013, the price of one BTC was $130, and crowd size was also in the hundreds. This time around 50,000+ people descended on Bitcoin 2021, and the price of one BTC is $32K. 📈
But the epic Bitcoin conference that just shook up Miami wasn’t about BTC prices or crowd estimates. It was about bringing the crypto community together to make it stronger.
After a crazy pandemic year filled with shutdowns, market meltdowns, and isolation, arriving in Miami with thousands of other apes was in and of itself a victory. Months of tweeting at each other from worlds apart has been fun, but finally meeting Crypto Twitter heavy hitters at our Stacked Yacht Party was way better. 😍
Legends like The Crypto Dog, Crypto Kaleo, Ledger Status, and Luke Martin mingled aboard the yacht. At the same time, everyone’s amazement at meeting the real human beings behind the cartoon avatars was tangible.
In the words of Stacked CEO Bitcoin Birch, Miami proved that your net worth is your network. 👍
Whether you made it to Miami or not, the lesson is the same — the crypto community is strongest when we’re all together.
Is this the bottom? A case for hopium
Bitcoin has been chopping around in the $30K region for weeks without clear direction. Trader sentiment has also turned utterly negative as the Fear and Greed Index turns up an Extreme Fear score of 13. 😳
For reference, the Fear and Greed Index hit a 10 during the March 2020 crash, after which BTC and the rest of the crypto market went on a year-long bull run. With sentiment approaching a historic low, there’s reason to believe the bottom might be near.
To put things in perspective, after the previous crash, BTC equaled its previous ATH at $20K, then went on to triple it. Euphoric rallies are always bound to consolidate, but this correction’s violence has been unexpected.
The sheer amount of price history and support in the $20K region means BTC bulls will aggressively defend any dips below $30K. Institutional and corporate buyers such as Tesla are now underwater (Tesla is down 15% on its $1.5B purchase) but definitely have the resources to protect their positions.
Should they step in as we chop lower, a strong bounce with the potential for $50K might be in the cards. 📈
🇸🇻Nayib Bukele is the hero BTC needs 🇸🇻
If there was ever a doubt that Bitcoin is the world’s future reserve currency, Nayib Bukele, the President of El Salvador, has temporarily laid them to rest.
Shortly after equipping his Twitter pic with laser eyes, Bukele introduced legislation to adopt Bitcoin as legal tender. The move would make El Salvador the first country in the world to do so. 🤴
While some expected other Latin American countries to vehemently reject the move, the effect has been exactly the opposite. Legislators in Mexico, Panama, Paraguay, Nicaragua, Brazil, and Argentina have all signaled support for Bitcoin by switching over to laser eyes in light of Bukele’s move.
Is El Salvador’s BTC legalization effort the first domino to fall in a movement that sweeps all of Latin America? ❓ The region has long been considered ripe for crypto adoption because of the volatility of regional currencies.
Nayib Bukele enjoys a 90%+ approval rating amongst El Salvadorans,🤔 giving the bill’s chances of approval equally high odds. Assuming the bill passes, we’ll be ready to watch the fireworks as neighboring countries introduce BTC legislation of their own.
🌋 Bitcoin powered by volcanoes 🌋
🤔 Domino effect possible in Latin America 🤔
🇮🇳India classifying BTC as an asset? 🇮🇳
⛏ Bitcoin mining with volcano energy in El Salvador 😳⛏
Well, that developed quickly. In one weekend, El Salvador’s government:
—> Proposed a bill to recognize BTC as legal tender
—> Submitted the bill to the legislative assembly
—> Became 1st country in the world to adopt BTC as money
—> Proposed Bitcoin mining using 100% renewable volcano energy
—> Drafted plans for a Bitcoin mining hub around volcanoes
—> Adopted a Lightning Network-based BTC wallet called Strike
Sounds like a busy weekend, right? It doesn’t look like Nayib Bukele, El Salvador’s president, is looking to stop there. In reply to a Forbes magazine line that wondered whether money might soon grow on volcanoes, Bukele tweeted back, “it will.” 🌋
After the quick unfolding of events, commentators across Crypto Twitter were left stunned. After all, what do you say when watching an entire country adopt Bitcoin in real-time?
If you’re thinking what we’re thinking, you’ve probably spent quite a bit of time these days checking out oceanside real estate in the tiny Central American nation. 👍
🤔Adopting Bitcoin as legal tender — who’s next? 🤔
El Salvador’s recognition of BTC might have been the first domino to fall in a region packed with candidates likely to follow suit.
Argentina, Paraguay, Venezuela, Nicaragua, and other Latin American countries have suffered through several periods of currency hyper-inflation and debasement.
Imagine watching the wealth you’ve accumulated tirelessly simply disappear due to bad monetary policy. Millions of Latin Americans have experienced exactly this, making it no wonder why the region continues to use stablecoins en masse. 📈
El Salvador’s move is a watershed moment for the LATAM region as a whole. Now, there is a blueprint for decisively moving away from inflationary central bank currencies and toward a global store of wealth built upon the actual value of mining.
Several legal reps from Brazil, Mexico, and other major LATAM countries have come through with the laser eyes, signaling their desire to make Bitcoin move in their respective countries.
Who is the next domino to fall? It’s not a matter of if, but when.
🇮🇳India flip-flops on BTC, now ready to call it an asset 🇮🇳
After looking likely to ban BTC for months, the Indian government is now keen on declaring it an asset. The action in El Salvador may have prompted the about-face. But in our view, there’s a more likely scenario.
The crypto community, led by Polygon’s Sandeep Nailwal, donated billions of dollars to Indian COVID relief efforts in recent weeks. Part of that donation was the $1B+ worth of SHIB tokens sent by Ethereum founder Vitalik Buterin.
Did the massive outpouring of support from the digital currency community resonate with India’s lawmakers? The timing of the switch-up makes it seem possible — even plausible.
Whatever the reason, if India does make good on declaring BTC an asset, expect fireworks. With a population well over 1 billion, India’s gov has the power to turn the tide on BTC sentiment.
🤔 Domino effect possible in Latin America 🤔
🇮🇳India classifying BTC as an asset? 🇮🇳
⛏ Bitcoin mining with volcano energy in El Salvador 😳⛏
Well, that developed quickly. In one weekend, El Salvador’s government:
—> Proposed a bill to recognize BTC as legal tender
—> Submitted the bill to the legislative assembly
—> Became 1st country in the world to adopt BTC as money
—> Proposed Bitcoin mining using 100% renewable volcano energy
—> Drafted plans for a Bitcoin mining hub around volcanoes
—> Adopted a Lightning Network-based BTC wallet called Strike
Sounds like a busy weekend, right? It doesn’t look like Nayib Bukele, El Salvador’s president, is looking to stop there. In reply to a Forbes magazine line that wondered whether money might soon grow on volcanoes, Bukele tweeted back, “it will.” 🌋
After the quick unfolding of events, commentators across Crypto Twitter were left stunned. After all, what do you say when watching an entire country adopt Bitcoin in real-time?
If you’re thinking what we’re thinking, you’ve probably spent quite a bit of time these days checking out oceanside real estate in the tiny Central American nation. 👍
🤔Adopting Bitcoin as legal tender — who’s next? 🤔
El Salvador’s recognition of BTC might have been the first domino to fall in a region packed with candidates likely to follow suit.
Argentina, Paraguay, Venezuela, Nicaragua, and other Latin American countries have suffered through several periods of currency hyper-inflation and debasement.
Imagine watching the wealth you’ve accumulated tirelessly simply disappear due to bad monetary policy. Millions of Latin Americans have experienced exactly this, making it no wonder why the region continues to use stablecoins en masse. 📈
El Salvador’s move is a watershed moment for the LATAM region as a whole. Now, there is a blueprint for decisively moving away from inflationary central bank currencies and toward a global store of wealth built upon the actual value of mining.
Several legal reps from Brazil, Mexico, and other major LATAM countries have come through with the laser eyes, signaling their desire to make Bitcoin move in their respective countries.
Who is the next domino to fall? It’s not a matter of if, but when.
🇮🇳India flip-flops on BTC, now ready to call it an asset 🇮🇳
After looking likely to ban BTC for months, the Indian government is now keen on declaring it an asset. The action in El Salvador may have prompted the about-face. But in our view, there’s a more likely scenario.
The crypto community, led by Polygon’s Sandeep Nailwal, donated billions of dollars to Indian COVID relief efforts in recent weeks. Part of that donation was the $1B+ worth of SHIB tokens sent by Ethereum founder Vitalik Buterin.
Did the massive outpouring of support from the digital currency community resonate with India’s lawmakers? The timing of the switch-up makes it seem possible — even plausible.
Whatever the reason, if India does make good on declaring BTC an asset, expect fireworks. With a population well over 1 billion, India’s gov has the power to turn the tide on BTC sentiment.
📈BTC stages big bounce above $40K 📈
😍Elon, Saylor, and Tudor-Jones back Bitcoin 😍
💯Mark Cuban is uber bullish on DeFi 💯
📈Bitcoin claws back above $40K 📈
It’s been a whopping three weeks since Bitcoin’s last $40K price check, but it feels a whole lot longer than that.
Since May 27, Bitcoin chopped down as low as $28K before finding its legs slightly higher. Unfortunately, the ranging and somewhat brutal reaccumulation period coincided with a drought of good news.
Recent headlines were filled with the usual fear, uncertainty, and doubt we’ve come to regard as noisy distractions from the certainty of $100K+ BTC. 🔨
Regulation worries, Sen. Elizabeth Warren calling crypto a ‘threat,’ and more Elon Musk tweets added fuel to the fire built by bears.
But positive indicators started pouring in during the last days, indicating a shift in fortunes. El Salvador adopted BTC as legal tender, BTC outflows to exchanges dried up, and influential market players made bold pronouncements, which brings us to…
😍Elon, Saylor, and Paul Tudor Jones to crypto markets: “pump it” 😍
Elon Musk hasn’t made any friends in the crypto world lately. He’s definitely on the outs with crypto investors after his erratic tweets showing on-again/off-again support for BTC and wildly uninformed statements about mining. ⛏
But, he at least finally defined the criteria for Tesla greenlighting BTC payments again. When a 50%+ majority of BTC miners use renewable energy sources for mining, the electric car giant will reinstate its pay with BTC initiative. 👍
In stark contrast, Microstrategy CEO Michael Saylor has made a crazy amount of crypto friends by being an uber BTC bull with no breaking point.
Despite already owning billions worth of BTC, Saylor isn’t finished buying. Microstrategy just wrapped a $500M bond sale, $488M of which is to be spent accumulating more BTC. So after smashing the green button, Microstrategy will hold a whale-approved sum of $4B+ worth of BTC.
Last but not least, legendary investor Paul Tudor Jones unambiguously embraced Bitcoin as concerns about US dollar inflation hit new highs. PTJ advocated a 5% BTC portfolio allocation to investors seeking a strong inflation hedge, saying he’ll “...buy crypto” as an inflation trade.
💯Mark Cuban goes bull mode on DeFi 💯
If you follow the DeFi space at all, you’ve probably seen Mark Cuban’s name pop up.
Earlier this year, Etherscan sleuths found his wallet hidden in plain sight. Inside were AAVE, SUSHI, and xSUSHI tokens along with various NFTs. The xSUSHI tokens were a dead giveaway that Cuban isn’t just buying DeFi; he’s farming it too.
Now, what’s a billionaire like Cuban doing farming DeFi? He believes crypto businesses (his words, not ours) have a future at least as bright as the internet tech generation. 🎯
DeFi, in particular, is primed to disrupt the world with its low overhead, end-user direct business model. He cites how fast Aave users can lend or borrow compared to how complex and exhausting it is at traditional banks.
The fully automated nature of DeFi means there are “...no bankers, no buildings, no toasters, no vaults, no cash, no holding your money, no forms to fill out, no credit ratings involved.”
No toasters is one thing, but no bankers is even better. Long live DeFi
Read Mark Cuban’s blog on DeFi here
https://twitter.com/mcuban/status/1404281034573848578
😍Elon, Saylor, and Tudor-Jones back Bitcoin 😍
💯Mark Cuban is uber bullish on DeFi 💯
📈Bitcoin claws back above $40K 📈
It’s been a whopping three weeks since Bitcoin’s last $40K price check, but it feels a whole lot longer than that.
Since May 27, Bitcoin chopped down as low as $28K before finding its legs slightly higher. Unfortunately, the ranging and somewhat brutal reaccumulation period coincided with a drought of good news.
Recent headlines were filled with the usual fear, uncertainty, and doubt we’ve come to regard as noisy distractions from the certainty of $100K+ BTC. 🔨
Regulation worries, Sen. Elizabeth Warren calling crypto a ‘threat,’ and more Elon Musk tweets added fuel to the fire built by bears.
But positive indicators started pouring in during the last days, indicating a shift in fortunes. El Salvador adopted BTC as legal tender, BTC outflows to exchanges dried up, and influential market players made bold pronouncements, which brings us to…
😍Elon, Saylor, and Paul Tudor Jones to crypto markets: “pump it” 😍
Elon Musk hasn’t made any friends in the crypto world lately. He’s definitely on the outs with crypto investors after his erratic tweets showing on-again/off-again support for BTC and wildly uninformed statements about mining. ⛏
But, he at least finally defined the criteria for Tesla greenlighting BTC payments again. When a 50%+ majority of BTC miners use renewable energy sources for mining, the electric car giant will reinstate its pay with BTC initiative. 👍
In stark contrast, Microstrategy CEO Michael Saylor has made a crazy amount of crypto friends by being an uber BTC bull with no breaking point.
Despite already owning billions worth of BTC, Saylor isn’t finished buying. Microstrategy just wrapped a $500M bond sale, $488M of which is to be spent accumulating more BTC. So after smashing the green button, Microstrategy will hold a whale-approved sum of $4B+ worth of BTC.
Last but not least, legendary investor Paul Tudor Jones unambiguously embraced Bitcoin as concerns about US dollar inflation hit new highs. PTJ advocated a 5% BTC portfolio allocation to investors seeking a strong inflation hedge, saying he’ll “...buy crypto” as an inflation trade.
💯Mark Cuban goes bull mode on DeFi 💯
If you follow the DeFi space at all, you’ve probably seen Mark Cuban’s name pop up.
Earlier this year, Etherscan sleuths found his wallet hidden in plain sight. Inside were AAVE, SUSHI, and xSUSHI tokens along with various NFTs. The xSUSHI tokens were a dead giveaway that Cuban isn’t just buying DeFi; he’s farming it too.
Now, what’s a billionaire like Cuban doing farming DeFi? He believes crypto businesses (his words, not ours) have a future at least as bright as the internet tech generation. 🎯
DeFi, in particular, is primed to disrupt the world with its low overhead, end-user direct business model. He cites how fast Aave users can lend or borrow compared to how complex and exhausting it is at traditional banks.
The fully automated nature of DeFi means there are “...no bankers, no buildings, no toasters, no vaults, no cash, no holding your money, no forms to fill out, no credit ratings involved.”
No toasters is one thing, but no bankers is even better. Long live DeFi
Read Mark Cuban’s blog on DeFi here
https://twitter.com/mcuban/status/1404281034573848578
Twitter
Mark Cuban
Crypto Businesses make more sense than you think and valuing tokens is easier and makes more sense than you think . They are just businesses like any other , with a few HUGE advantages. My blog post on the matter twitter.com/mcuban/status/…
Stacked Insights Newsletter, 06.15.21
🤔 Believe in the bounce?
🚀Polkadot has arrived
🔥Crypto fundraising at ATH
This time, it's different 😅
Bitcoin firmly bounced above $40K and brought much needed relief to us all. But, is this time really different, or is the bounce just setting up exit liquidity for whales?
Dave the Wave, a crypto twitter trader who has so far nailed BTC price action in 2021, sees parallels between now and spring/summer 2018.
In 2018, crypto markets touched all time highs before getting nuked, bouncing to lower highs, then grinding out a long consolidation period.
So far, BTC is following the 2018 playbook so closely that even the daily MACD is uncannily similar.
If we are in fact following the 2018 fractal, the good news is incredible dip-buying opportunities await and the correction will resolve much faster than in 2018.
Follow up here 👉 https://twitter.com/davthewave/status/1404538985381208066
DOT listed on Coinbase as parachains near 📈
Blockchain interoperability used to be a buzzword. Now, it's almost a reality.
Polkadot, the multi-chain protocol that acts as connective tissue between networks, is on the cusp of enabling parachain auctions.
If you're new to the concept, parachain auctions are similar to crypto ICOs with a few key differences.
💡 Projects stake DOT tokens to earn space on the network
💰 To raise DOT, projects run crowdloans
🤝 In crowdloans, DOT stakers get the project's token in exchange
The key takeaway is parachain auctions never involve giving up your DOT tokens. Instead, you're just leasing them to projects which need them as bond collateral.
Coinbase Pro just listed DOT tokens likely in anticipation of the network transitioning toward its first full auction.
Kusama, Polkadot's test network, is starting its first parachain auction next week. If all goes well, Polkadot has the green light to let the fireworks begin.
Despite market fears, project fundraising is booming 🏦
According to the Fear and Greed Index, crypto market sentiment is oscillating between extreme fear and fear.
Even though retail traders are clearly shaken, venture capitalists and big-name investors are pouring 💵 into crypto like there's no tomorrow.
Lesser-known projects like Stake Technologies, a group developing interoperability tech for Polkadot, are raising millions from the likes of former Sony CEO Nobuyuki Idei.
Massive funding rounds of late include:
🥇$380M, Ledger crypto wallets
🥈$350M, BlockFi crypto lending
🥉$314M, Solana blockchain
🏅$305M Dapper Labs NFTs
🏅$300M Blockchain.com wallets
These totals blow away the sums raised during the ICO craze and involve far higher-profile investors like Mark Cuban, Michael Jordan, Ashton Kutcher, Bain Capital, and Andreessen Horowitz.
Don't let short-term price action distract you from long-term bullish signals. 🎯
🤔 Believe in the bounce?
🚀Polkadot has arrived
🔥Crypto fundraising at ATH
This time, it's different 😅
Bitcoin firmly bounced above $40K and brought much needed relief to us all. But, is this time really different, or is the bounce just setting up exit liquidity for whales?
Dave the Wave, a crypto twitter trader who has so far nailed BTC price action in 2021, sees parallels between now and spring/summer 2018.
In 2018, crypto markets touched all time highs before getting nuked, bouncing to lower highs, then grinding out a long consolidation period.
So far, BTC is following the 2018 playbook so closely that even the daily MACD is uncannily similar.
If we are in fact following the 2018 fractal, the good news is incredible dip-buying opportunities await and the correction will resolve much faster than in 2018.
Follow up here 👉 https://twitter.com/davthewave/status/1404538985381208066
DOT listed on Coinbase as parachains near 📈
Blockchain interoperability used to be a buzzword. Now, it's almost a reality.
Polkadot, the multi-chain protocol that acts as connective tissue between networks, is on the cusp of enabling parachain auctions.
If you're new to the concept, parachain auctions are similar to crypto ICOs with a few key differences.
💡 Projects stake DOT tokens to earn space on the network
💰 To raise DOT, projects run crowdloans
🤝 In crowdloans, DOT stakers get the project's token in exchange
The key takeaway is parachain auctions never involve giving up your DOT tokens. Instead, you're just leasing them to projects which need them as bond collateral.
Coinbase Pro just listed DOT tokens likely in anticipation of the network transitioning toward its first full auction.
Kusama, Polkadot's test network, is starting its first parachain auction next week. If all goes well, Polkadot has the green light to let the fireworks begin.
Despite market fears, project fundraising is booming 🏦
According to the Fear and Greed Index, crypto market sentiment is oscillating between extreme fear and fear.
Even though retail traders are clearly shaken, venture capitalists and big-name investors are pouring 💵 into crypto like there's no tomorrow.
Lesser-known projects like Stake Technologies, a group developing interoperability tech for Polkadot, are raising millions from the likes of former Sony CEO Nobuyuki Idei.
Massive funding rounds of late include:
🥇$380M, Ledger crypto wallets
🥈$350M, BlockFi crypto lending
🥉$314M, Solana blockchain
🏅$305M Dapper Labs NFTs
🏅$300M Blockchain.com wallets
These totals blow away the sums raised during the ICO craze and involve far higher-profile investors like Mark Cuban, Michael Jordan, Ashton Kutcher, Bain Capital, and Andreessen Horowitz.
Don't let short-term price action distract you from long-term bullish signals. 🎯
Twitter
dave the wave🌊
The Daily MACD The bad: a real risk of further correction with the comparison to 2018. The good: the correction not nearly as long.
Stacked Insights Newsletter, 06.17.21
🎨$100M NFT bet
🔑Crypto is the inflation trade
🔪How to survive the chop
Fox TV bets $100M on NFTs 🎲
Another day, another massive move into the crypto space from a legacy institution.
This time, it's Fox Corp., the juggernaut media company behind Fox News and Fox Entertainment. Fox is seeding a $100M fund for digital entertainment tied to its NFT division called Blockchain Creative Labs.
The first effort from the new division is a show called "Krapopolis" by Dan Harmon, the creator of "Rick and Morty."
Blockchain Creative Labs was created to create closer interactivity and sales opportunities betweens shows and their audiences.
NFTs enable a whole new level of salable digital goods, including animations, GIFs, memes, and and limited edition videos.
The huge infusion of cash from one of the world's largest and most traditional media corporations means NFTs have well and truly disrupted not only art, but entertainment as well.
Who's next in line to get well and truly disrupted by crypto? 🥊
Crypto is THE inflation trade 🏦
If you've been following the news in traditional markets, you're well aware that inflation is stealing all the headlines.
Fed Chair Jerome Powell has recently pulled many a gloomy look while delivering inflation forecasts as high as 3%.
Bankers would love for everyone to buy the story that heightened inflation will simmer down by next year, but many notable traders and investors are wary.
Paul Tudor Jones, for one, said matter-of-factly that if the inflation forecast increased (it did), he'd go all in on inflation trades.
Without mincing words, he pointed to buying crypto as part of his inflation trade strategy, and suggested that everyone try out a 5% BTC portfolio.
Oddly enough, the hiked up inflation forecast dampened the ongoing BTC rally, sending prices tumbling firmly below $40K for the first time in days.
Survive market chop with Stacked 🧘
We're in a brutal phase of the crypto market correction known as the chop.
A little known fact is that MANY traders survive big drops only to find themselves revenge trading, second-guessing intuition, and otherwise getting sliced to pieces by revolving bull and bear traps.
What's needed in a market like this is to go into survival mode. This isn't the time to try and make it all back in one trade.
But, that isn't to say there isn't profit to be made — but these are double black diamond days best reserved for weathered pro traders.
Stacked makes it super simple for you to do exactly what the pros are doing right now by adopting their strategies to the letter.
Automated trading bots are live in the Stacked Marketplace giving you one one-click options for trading with the best investors, hedge funds, and strategists.
🎯Manage your wealth in one place
🎯Invest in curated portfolios
🎯Run vetted trading bots
If you haven't already, give Stacked a try for free 🤝
👉 stackedinvest.com 👈
🎨$100M NFT bet
🔑Crypto is the inflation trade
🔪How to survive the chop
Fox TV bets $100M on NFTs 🎲
Another day, another massive move into the crypto space from a legacy institution.
This time, it's Fox Corp., the juggernaut media company behind Fox News and Fox Entertainment. Fox is seeding a $100M fund for digital entertainment tied to its NFT division called Blockchain Creative Labs.
The first effort from the new division is a show called "Krapopolis" by Dan Harmon, the creator of "Rick and Morty."
Blockchain Creative Labs was created to create closer interactivity and sales opportunities betweens shows and their audiences.
NFTs enable a whole new level of salable digital goods, including animations, GIFs, memes, and and limited edition videos.
The huge infusion of cash from one of the world's largest and most traditional media corporations means NFTs have well and truly disrupted not only art, but entertainment as well.
Who's next in line to get well and truly disrupted by crypto? 🥊
Crypto is THE inflation trade 🏦
If you've been following the news in traditional markets, you're well aware that inflation is stealing all the headlines.
Fed Chair Jerome Powell has recently pulled many a gloomy look while delivering inflation forecasts as high as 3%.
Bankers would love for everyone to buy the story that heightened inflation will simmer down by next year, but many notable traders and investors are wary.
Paul Tudor Jones, for one, said matter-of-factly that if the inflation forecast increased (it did), he'd go all in on inflation trades.
Without mincing words, he pointed to buying crypto as part of his inflation trade strategy, and suggested that everyone try out a 5% BTC portfolio.
Oddly enough, the hiked up inflation forecast dampened the ongoing BTC rally, sending prices tumbling firmly below $40K for the first time in days.
Survive market chop with Stacked 🧘
We're in a brutal phase of the crypto market correction known as the chop.
A little known fact is that MANY traders survive big drops only to find themselves revenge trading, second-guessing intuition, and otherwise getting sliced to pieces by revolving bull and bear traps.
What's needed in a market like this is to go into survival mode. This isn't the time to try and make it all back in one trade.
But, that isn't to say there isn't profit to be made — but these are double black diamond days best reserved for weathered pro traders.
Stacked makes it super simple for you to do exactly what the pros are doing right now by adopting their strategies to the letter.
Automated trading bots are live in the Stacked Marketplace giving you one one-click options for trading with the best investors, hedge funds, and strategists.
🎯Manage your wealth in one place
🎯Invest in curated portfolios
🎯Run vetted trading bots
If you haven't already, give Stacked a try for free 🤝
👉 stackedinvest.com 👈
Stacked Insights Newsletter, 06.21.21
🔥 Goldman Sachs + Galaxy Digital partnership
👨💻 Quick guide to Ethereum EIP 1559 upgrade
🥊 Breaking down the Mark Cuban rug pull
🤝 Goldman Sachs partners with Galaxy Digital 🤝
Goldman Sachs is launching a BTC futures trading platform. In and of itself, that's already huge news. But to make matters better, it's tapped Galaxy Digital to provide liquidity for the product.
Galaxy Digital is a full suite crypto fund and financial services platform founded by Mike Novogratz (or Novo as many call him).
You should know that Novo is an über crypto bull. In 2017, he made a landmark speech at Ethereal called The Herd Is Coming, which you can check out here 👉 https://youtu.be/chRFimo06aM
Goldman Sachs is a cornerstone traditional finance giant taking its first solid foray into the crypto world. Partnering with a Novogratz-helmed crypto liquidity provider means GS gets their feet wet with a crypto maximalist — not a bad thing in our book.
Hopefully, Novo's enthusiasm rubs off on the people at Goldman Sachs, and the product becomes a success.
🧑🏫 3 things you should know about the EIP-1559 milestone 🧑🏫
In Ethereum land, these are exciting times. The EIP-1559 upgrade, a hotly anticipated precursor to the Ethereum London hardfork, is expected in July.
There's tons of confusion surrounding what EIP-1559 will and won't do, so let's clear the air.
EIP-1559 will...
🙆♂️ Put deflationary pressure on ETH supply
🙆♂️ Transition ETH miners toward staking
🙆♂️ Probably reduce tx fees somewhat
EIP-1559 won't...
🙅♀️ Make gas a lot cheaper
🙅♀️ Cause miners to abandon Ethereum now
🙅♀️ Turn ETH into a scarce fixed supply asset
At its core, EIP-1559 is aimed at introducing a new transaction fee model that should make miners less clingy. Why? Because it's a key component of the London hardfork, itself a crucial step toward ETH 2.0.
😲 Mark Cuban got rugged — this is how it happened 😲
First off, no matter what your net worth, getting rugged sucks. Nobody, not even billionaires, enjoys the feeling of seeing an investment evaporate into thin air.
But that's essentially what happened to Mark Cuban and his $TITAN holdings. Earlier in the week, Cuban blogged about DeFi in a post called "The Brilliance of Yield Farming."
In the post, he revealed himself as the largest LP in the DAI/TITAN pool. Crypto twitter blew up with tons of Cuban is in memes, driving the price of TITAN up 100x — from mere cents to $60.
Not long after reaching ATH, TITAN crashed in what was, essentially, a single red candle down to under $0.3. The crash erased Mark Cuban's $8 million liquidity pool holdings and dropped Iron Finance's TVL from $1B+ to less than $10M 🤦♀️
TITAN is the governance and stabilizing token for IRON, a stablecoin issued by Iron Finance. The cause of the crash is likely that TITAN's unsustainable rise created an equally sharp correction that sent IRON away from its dollar peg.
IRON moved further away from its peg as traders kept dumping TITAN, leading to a vicious cycle of selloffs that sunk Iron Finance close to zero.
After the incident, Cuban admitted he had essentially aped into the project without doing any due diligence, but nevertheless called for regulators to create rules for stablecoins 🤷🏼
https://www.youtube.com/watch?v=chRFimo06aM
🔥 Goldman Sachs + Galaxy Digital partnership
👨💻 Quick guide to Ethereum EIP 1559 upgrade
🥊 Breaking down the Mark Cuban rug pull
🤝 Goldman Sachs partners with Galaxy Digital 🤝
Goldman Sachs is launching a BTC futures trading platform. In and of itself, that's already huge news. But to make matters better, it's tapped Galaxy Digital to provide liquidity for the product.
Galaxy Digital is a full suite crypto fund and financial services platform founded by Mike Novogratz (or Novo as many call him).
You should know that Novo is an über crypto bull. In 2017, he made a landmark speech at Ethereal called The Herd Is Coming, which you can check out here 👉 https://youtu.be/chRFimo06aM
Goldman Sachs is a cornerstone traditional finance giant taking its first solid foray into the crypto world. Partnering with a Novogratz-helmed crypto liquidity provider means GS gets their feet wet with a crypto maximalist — not a bad thing in our book.
Hopefully, Novo's enthusiasm rubs off on the people at Goldman Sachs, and the product becomes a success.
🧑🏫 3 things you should know about the EIP-1559 milestone 🧑🏫
In Ethereum land, these are exciting times. The EIP-1559 upgrade, a hotly anticipated precursor to the Ethereum London hardfork, is expected in July.
There's tons of confusion surrounding what EIP-1559 will and won't do, so let's clear the air.
EIP-1559 will...
🙆♂️ Put deflationary pressure on ETH supply
🙆♂️ Transition ETH miners toward staking
🙆♂️ Probably reduce tx fees somewhat
EIP-1559 won't...
🙅♀️ Make gas a lot cheaper
🙅♀️ Cause miners to abandon Ethereum now
🙅♀️ Turn ETH into a scarce fixed supply asset
At its core, EIP-1559 is aimed at introducing a new transaction fee model that should make miners less clingy. Why? Because it's a key component of the London hardfork, itself a crucial step toward ETH 2.0.
😲 Mark Cuban got rugged — this is how it happened 😲
First off, no matter what your net worth, getting rugged sucks. Nobody, not even billionaires, enjoys the feeling of seeing an investment evaporate into thin air.
But that's essentially what happened to Mark Cuban and his $TITAN holdings. Earlier in the week, Cuban blogged about DeFi in a post called "The Brilliance of Yield Farming."
In the post, he revealed himself as the largest LP in the DAI/TITAN pool. Crypto twitter blew up with tons of Cuban is in memes, driving the price of TITAN up 100x — from mere cents to $60.
Not long after reaching ATH, TITAN crashed in what was, essentially, a single red candle down to under $0.3. The crash erased Mark Cuban's $8 million liquidity pool holdings and dropped Iron Finance's TVL from $1B+ to less than $10M 🤦♀️
TITAN is the governance and stabilizing token for IRON, a stablecoin issued by Iron Finance. The cause of the crash is likely that TITAN's unsustainable rise created an equally sharp correction that sent IRON away from its dollar peg.
IRON moved further away from its peg as traders kept dumping TITAN, leading to a vicious cycle of selloffs that sunk Iron Finance close to zero.
After the incident, Cuban admitted he had essentially aped into the project without doing any due diligence, but nevertheless called for regulators to create rules for stablecoins 🤷🏼
https://www.youtube.com/watch?v=chRFimo06aM
YouTube
Mike Novogratz - Keynote: "The Herd is Coming" Ethereal #Blockchain Conference San Francisco 2017
Mike Novogratz, crypto investor, talks about why he is excited about the blockchain space, what he is worried about, and what he is going to do about it. Mike also leaves us with a few predictions on what he sees coming in the space.
- To get the latest…
- To get the latest…
Stacked Insights Newsletter, 06.22.21
😅 Bitcoin below $30K, but it's OK
⛏ Chinese mining ban is good for crypto
🧲 Let the gains come to you
👌 3 reasons why Bitcoin below $30K is OK 👌
You've seen the headlines. Bitcoin is below $30K for the first time since blah blah blah.
We get it, BTC is down. Start by asking yourself — what's the point of the endless doom and gloom Bitcoin headlines?
The answer is a simple one. These headlines create even more downward price action, all of which is meant to try and shake you out of your coins.
But guess who's on the receiving end of Bitcoin sold cheaply? That's right — the exact same people and institutions creating FUD now.
So don't take your eyes off the prize. Here are 3 reasons why BTC below $30K is fine.
1️⃣ Zoom out. last year, BTC was $5K. Prices are 400%+ since then.
2️⃣ Reset. Run to $60K created greed. Corrections are needed.
3️⃣ Flippening. Watch as the old $20K resistance becomes support.
The last upshot is especially relevant. Take a macro view of the market, then you realize daily price action is largely a distraction from the real prize later on: $100K+ BTC prices.
♻️ The Chinese mining ban is great for crypto♻️
There's been plenty of fear in the market about the Chinese mining ban. Not only are people confused about what it means for Bitcoin, there's mixed messages about the consequences.
The mining ban has broadly extended to over 90% of the active Bitcoin miners in China. As you probably know, China has so far dominated the Bitcoin hash rate through sheer mining capacity.
However, Bitcoin's global profile is rising every day, which increases the spotlight on everything wrong with Bitcoin. A few weeks ago, Elon Musk tanked the market after tweeting that Tesla would no longer process BTC payments due to environmental concerns.
In response, Bitcoin hero Michael Saylor convened a North American Mining Council conference and outlined environmental goals like using renewable energy for mining.
The Chinese miner crackdown is well-timed. More people, institutions, and entire nations are getting involved with Bitcoin but are simultaneously concerned about mining power concentration in China.
Now, mining power is set to redistribute globally. El Salvador recently announced geothermal Bitcoin mining sites and locales throughout Africa are being scouted.
So, while miners in China are losing out on a long lucrative position as the world's top BTC excavators, everyone else is in a winning position.
🧲 Put your portfolio on auto-pilot 🧲
In market conditions like these, the best thing is to take emotions out of trading & investing.
The top of the current cycle is in, and the bottom is near, which means the current zone is nothing but market chop designed to cut your portfolio to pieces.
But we get it, the market makes us emotional. That's why we created Stacked — to help you make objective data-based moves like professional traders do.
Use the Stacked Portfolio Manager to take the guesswork out of investing. The Portfolio Manager enable to do things like...
🏦 Seamlessly move in/out of stables based on market conditions
🏎 Allocate to any asset across major exchanges with one click
🤝 Invest in portfolios designed by pro traders and hedge funds
Don't go it alone. Stacked has your back.
Want to try before you buy? Start using the Portfolio Manager for free 👉 stackedinvest.com
😅 Bitcoin below $30K, but it's OK
⛏ Chinese mining ban is good for crypto
🧲 Let the gains come to you
👌 3 reasons why Bitcoin below $30K is OK 👌
You've seen the headlines. Bitcoin is below $30K for the first time since blah blah blah.
We get it, BTC is down. Start by asking yourself — what's the point of the endless doom and gloom Bitcoin headlines?
The answer is a simple one. These headlines create even more downward price action, all of which is meant to try and shake you out of your coins.
But guess who's on the receiving end of Bitcoin sold cheaply? That's right — the exact same people and institutions creating FUD now.
So don't take your eyes off the prize. Here are 3 reasons why BTC below $30K is fine.
1️⃣ Zoom out. last year, BTC was $5K. Prices are 400%+ since then.
2️⃣ Reset. Run to $60K created greed. Corrections are needed.
3️⃣ Flippening. Watch as the old $20K resistance becomes support.
The last upshot is especially relevant. Take a macro view of the market, then you realize daily price action is largely a distraction from the real prize later on: $100K+ BTC prices.
♻️ The Chinese mining ban is great for crypto♻️
There's been plenty of fear in the market about the Chinese mining ban. Not only are people confused about what it means for Bitcoin, there's mixed messages about the consequences.
The mining ban has broadly extended to over 90% of the active Bitcoin miners in China. As you probably know, China has so far dominated the Bitcoin hash rate through sheer mining capacity.
However, Bitcoin's global profile is rising every day, which increases the spotlight on everything wrong with Bitcoin. A few weeks ago, Elon Musk tanked the market after tweeting that Tesla would no longer process BTC payments due to environmental concerns.
In response, Bitcoin hero Michael Saylor convened a North American Mining Council conference and outlined environmental goals like using renewable energy for mining.
The Chinese miner crackdown is well-timed. More people, institutions, and entire nations are getting involved with Bitcoin but are simultaneously concerned about mining power concentration in China.
Now, mining power is set to redistribute globally. El Salvador recently announced geothermal Bitcoin mining sites and locales throughout Africa are being scouted.
So, while miners in China are losing out on a long lucrative position as the world's top BTC excavators, everyone else is in a winning position.
🧲 Put your portfolio on auto-pilot 🧲
In market conditions like these, the best thing is to take emotions out of trading & investing.
The top of the current cycle is in, and the bottom is near, which means the current zone is nothing but market chop designed to cut your portfolio to pieces.
But we get it, the market makes us emotional. That's why we created Stacked — to help you make objective data-based moves like professional traders do.
Use the Stacked Portfolio Manager to take the guesswork out of investing. The Portfolio Manager enable to do things like...
🏦 Seamlessly move in/out of stables based on market conditions
🏎 Allocate to any asset across major exchanges with one click
🤝 Invest in portfolios designed by pro traders and hedge funds
Don't go it alone. Stacked has your back.
Want to try before you buy? Start using the Portfolio Manager for free 👉 stackedinvest.com
Stacked Insights Newsletter, 06.23.21
⚾️ FTX lands huge sponsorship deal
🕵️ On-chain data suggests relief is near
⚒ Chinese miner situation gets clearer
🥳 FTX becomes MLB sponsor🥳
FTX is already the preferred exchange of crypto traders everywhere (including us here at Stacked HQ 😌).
But even though FTX reigning supreme across crypto twitter is an awesome start, how cool would it be to see FTX and Coinbase go head-to-head?
To unlock household name levels of recognition, FTX is deploying an impressively visible marketing campaign.
For its latest act, FTX has become the official crypto exchange partner of the MLB. That's right — Major League Baseball.
Amongst other highly visible details, you'll see umpires wearing FTX patches on their uniforms during games. Just imagine how surreal seeing crypto + baseball will be.
This isn't FTX's first big sports deal, either. A few months ago, they locked down a massive partnership with the Miami Heat which sees the team play inside the rebranded FTX Arena.
Given Tom Brady's recent conversion to laser eyes, we won't be surprised to see FTX launch a similar deal with the NFL just for the sake of completion.
Mainstream crypto adoption, anyone? 🤩
🤲 BTC is flowing from weak to strong hands 💎
We can speculate all we want, but because blockchain, there's REAL objective data to show which wallets are scooping BTC.
In an alpha-drop of epic proportions, Bitcoin permabull Willy Woo charted the measurable flow of BTC from weak-handed wallets to diamond-handed chads.
See the tweet here 👉 twitter.com/woonomic/status/1407403983023460354
At some point, the transfer of BTC (or any coin for that matter) from sellers to HODLers counteracts the bearish influence driving prices down.
The market would be in big trouble if long-term wallets were dumping coins rather than scooping them, but thankfully, the opposite is happening.
On a related note, Bloomberg Intelligence reports the current BTC 20 week EMA has tapped the same levels as $4K BTC in 2020. On that occasion, BTC definitively bounced into a full-on reversal that endured for over a year.
Are we on the verge of a similar change of fortune? 🔮
👮♂️ OK, so China is actually booting BTC miners 👮♂️
China FUD is its own niche category of psyops within the crypto market. Every year, like clockwork, someone cues the onslaught of "bans."
❌ In 2013, China banned BTC trading...
❌ Next up was the infamous ICO + exchange ban in 2017
❌ Then, China banned Bitcoin mining in 2018-19
Despite all of the bans, clampdowns, and regulatory posturing, crypto mining and trading kept emanating from China, leading one to wonder how real these bans were.
This time it's actually different. Miners are well and truly being shut down in China, the place once host to over 65% of BTC hash power.
In an interview, Kevin Zhang of DCG-owned Foundry, said miners were closing up shop en masse, with up to 90% of miners expected to be shutdown by the month's end.
Vast arrays of mining equipment are arriving in Kazakhstan as miners seek new horizons for a fresh start. As such, the BTC mining ban is, surprisingly, very real this time around.
Read our previous update to see why we think the ban is amazing for Bitcoin's future growth prospects 🎯
⚾️ FTX lands huge sponsorship deal
🕵️ On-chain data suggests relief is near
⚒ Chinese miner situation gets clearer
🥳 FTX becomes MLB sponsor🥳
FTX is already the preferred exchange of crypto traders everywhere (including us here at Stacked HQ 😌).
But even though FTX reigning supreme across crypto twitter is an awesome start, how cool would it be to see FTX and Coinbase go head-to-head?
To unlock household name levels of recognition, FTX is deploying an impressively visible marketing campaign.
For its latest act, FTX has become the official crypto exchange partner of the MLB. That's right — Major League Baseball.
Amongst other highly visible details, you'll see umpires wearing FTX patches on their uniforms during games. Just imagine how surreal seeing crypto + baseball will be.
This isn't FTX's first big sports deal, either. A few months ago, they locked down a massive partnership with the Miami Heat which sees the team play inside the rebranded FTX Arena.
Given Tom Brady's recent conversion to laser eyes, we won't be surprised to see FTX launch a similar deal with the NFL just for the sake of completion.
Mainstream crypto adoption, anyone? 🤩
🤲 BTC is flowing from weak to strong hands 💎
We can speculate all we want, but because blockchain, there's REAL objective data to show which wallets are scooping BTC.
In an alpha-drop of epic proportions, Bitcoin permabull Willy Woo charted the measurable flow of BTC from weak-handed wallets to diamond-handed chads.
See the tweet here 👉 twitter.com/woonomic/status/1407403983023460354
At some point, the transfer of BTC (or any coin for that matter) from sellers to HODLers counteracts the bearish influence driving prices down.
The market would be in big trouble if long-term wallets were dumping coins rather than scooping them, but thankfully, the opposite is happening.
On a related note, Bloomberg Intelligence reports the current BTC 20 week EMA has tapped the same levels as $4K BTC in 2020. On that occasion, BTC definitively bounced into a full-on reversal that endured for over a year.
Are we on the verge of a similar change of fortune? 🔮
👮♂️ OK, so China is actually booting BTC miners 👮♂️
China FUD is its own niche category of psyops within the crypto market. Every year, like clockwork, someone cues the onslaught of "bans."
❌ In 2013, China banned BTC trading...
❌ Next up was the infamous ICO + exchange ban in 2017
❌ Then, China banned Bitcoin mining in 2018-19
Despite all of the bans, clampdowns, and regulatory posturing, crypto mining and trading kept emanating from China, leading one to wonder how real these bans were.
This time it's actually different. Miners are well and truly being shut down in China, the place once host to over 65% of BTC hash power.
In an interview, Kevin Zhang of DCG-owned Foundry, said miners were closing up shop en masse, with up to 90% of miners expected to be shutdown by the month's end.
Vast arrays of mining equipment are arriving in Kazakhstan as miners seek new horizons for a fresh start. As such, the BTC mining ban is, surprisingly, very real this time around.
Read our previous update to see why we think the ban is amazing for Bitcoin's future growth prospects 🎯
Twitter
Willy Woo
Green: The ratio of coins held by strong hands vs speculative hands. Yes it's a Bullish div. Last one was the late Jan 2021 dip. Prior times the ratio was at this level, price was $45k-$50k. Chart inspired by @WClementeIII Data by @glassnode
Stacked Insights Newsletter, 06.25.21
🇸🇻 El Salvador airdropping BTC to citizens
🍎 NYC to become world's BTC hub?
🐻 Bear markets are for stacking coins
🪂 El Salvador is airdropping BTC to all citizens🪂
The El Salvador + Bitcoin love affair isn't cooling down one bit.
In a series of surreal and unexpected twists, El Salvadoran President Nayib Bukele did two things of note:
📺 Gave national presentation about BTC
🤯 Announced $30 BTC airdrop to all adults
Images of a dapper Bukele teaching an entire nation about Bitcoin from behind the presidential seal must be seen to be believed.
The fact that he followed the lesson up with an airdrop to get the entire country a hands-on experience with crypto is just beyond.
El Salvador's embrace of Bitcoin is having exactly the Latin American network effect we expected. Yesterday, Paraguayan legislators introduced a bill to recognize Bitcoin as legal tender in their nation as well.
It's happening ⚡️
🏙 Front runner for NYC mayor promises BTC hub 🏙
New York just held its democratic primary as the mayoral vote looms ahead. But, given how heavily the city leans democrat, the primary's winner is largely viewed as the next mayor by default.
And, so far, it looks like Eric Adams is winning the race. What has this all got to do with Bitcoin? Well, the night before the vote, Adams gave a speech in which he said many interesting things...
"I’m going to promise you in one year you’re going to see a different city. We’re going to become the center of life science, the center of cybersecurity, the center of self driving cars, drones, the center of bitcoins.”
Putting aside the slightly kek worthy usage "bitcoins," Adams is promising to turn America's largest city into a Bitcoin hub. If this all sounds familiar, it's because Miami Mayor Francis Suarez has spent most of the year similarly positioning his city.
Clearly, politicians across the US are beginning to see crypto as the future of tech in America. For decades, legacy tech has amassed its presence in Silicon Valley. But the rise of crypto opens possibilities for unseating San Francisco's long-held dominance in the space.
Keep your eyes on Adams as the tally of Bitcoin Mayors in America might rise to two 👀
😤 THIS is the god-tier buying opportunity😤
Crypto is in a downtrend. Some might even call it a bear market. Call it whatever you want — just as long as you're stacking coins.
If you were bullish about crypto before the downturn, know just one thing. The fundamentals haven't changed.
Countries are adoption BTC as legal tender. Entire states are vying to become mining centers. FTX is putting crypto in front of the eyes of sports fans everywhere...and DOGE just exposed millions of retail investors to digital assets.
BUT buying the dipperino is often easier said than done. With so many strong coins on major discount, where do you allocate your dry powder?
Stacked Curated Portfolios make it super simple to get into the best coins for tomorrow's bull market.
Curated Portfolios give you instant access to the same portfolio allocations rocked by hedge funds, pro traders, and crypto indexes.
⛹️♂️ DeFi Bluechip portfolio — +1,050% PnL
🏌️♂️ SBF Basket portfolio — +1,289.62% PnL
🤾 Robinhood 6 Portfolio — +743.34% PnL
Ready to take the guesswork out of crypto investing? Use this downturn to stack coins.
Try Curated Portfolios for free right here, right now 🤜 stackedinvest.com
🇸🇻 El Salvador airdropping BTC to citizens
🍎 NYC to become world's BTC hub?
🐻 Bear markets are for stacking coins
🪂 El Salvador is airdropping BTC to all citizens🪂
The El Salvador + Bitcoin love affair isn't cooling down one bit.
In a series of surreal and unexpected twists, El Salvadoran President Nayib Bukele did two things of note:
📺 Gave national presentation about BTC
🤯 Announced $30 BTC airdrop to all adults
Images of a dapper Bukele teaching an entire nation about Bitcoin from behind the presidential seal must be seen to be believed.
The fact that he followed the lesson up with an airdrop to get the entire country a hands-on experience with crypto is just beyond.
El Salvador's embrace of Bitcoin is having exactly the Latin American network effect we expected. Yesterday, Paraguayan legislators introduced a bill to recognize Bitcoin as legal tender in their nation as well.
It's happening ⚡️
🏙 Front runner for NYC mayor promises BTC hub 🏙
New York just held its democratic primary as the mayoral vote looms ahead. But, given how heavily the city leans democrat, the primary's winner is largely viewed as the next mayor by default.
And, so far, it looks like Eric Adams is winning the race. What has this all got to do with Bitcoin? Well, the night before the vote, Adams gave a speech in which he said many interesting things...
"I’m going to promise you in one year you’re going to see a different city. We’re going to become the center of life science, the center of cybersecurity, the center of self driving cars, drones, the center of bitcoins.”
Putting aside the slightly kek worthy usage "bitcoins," Adams is promising to turn America's largest city into a Bitcoin hub. If this all sounds familiar, it's because Miami Mayor Francis Suarez has spent most of the year similarly positioning his city.
Clearly, politicians across the US are beginning to see crypto as the future of tech in America. For decades, legacy tech has amassed its presence in Silicon Valley. But the rise of crypto opens possibilities for unseating San Francisco's long-held dominance in the space.
Keep your eyes on Adams as the tally of Bitcoin Mayors in America might rise to two 👀
😤 THIS is the god-tier buying opportunity😤
Crypto is in a downtrend. Some might even call it a bear market. Call it whatever you want — just as long as you're stacking coins.
If you were bullish about crypto before the downturn, know just one thing. The fundamentals haven't changed.
Countries are adoption BTC as legal tender. Entire states are vying to become mining centers. FTX is putting crypto in front of the eyes of sports fans everywhere...and DOGE just exposed millions of retail investors to digital assets.
BUT buying the dipperino is often easier said than done. With so many strong coins on major discount, where do you allocate your dry powder?
Stacked Curated Portfolios make it super simple to get into the best coins for tomorrow's bull market.
Curated Portfolios give you instant access to the same portfolio allocations rocked by hedge funds, pro traders, and crypto indexes.
⛹️♂️ DeFi Bluechip portfolio — +1,050% PnL
🏌️♂️ SBF Basket portfolio — +1,289.62% PnL
🤾 Robinhood 6 Portfolio — +743.34% PnL
Ready to take the guesswork out of crypto investing? Use this downturn to stack coins.
Try Curated Portfolios for free right here, right now 🤜 stackedinvest.com
Stacked Insights Newsletter, 06.25.21
💂♂️ Binance banned in UK
🐂 Bulls pushing a swift recovery
🤔 What's up with the Internet Computer?
🇬🇧 Binance banned by UK, warned in Canada & Japan 🇬🇧
Binance got pummeled by regulators over the weekend.
In the UK, Binance is now banned after regulators with the Financial Conduct Authority deemed it "not permitted to undertake any regulated activity in the UK."
The ban is yet another serious blow to Binance's global expansion efforts after the exchange was similarly forced to withdraw from the province of Ontario, Canada.
In that instance, Canadian regulators declared Binance in violation of regional securities laws. Binance then took the preemptive step of closing up shop in the region rather than enter a protracted legal battle to keep serving Ontario residents.
Similarly, Japanese financial authorities warned Binance that it's skirting local regulations by serving Japanese residents.
If the sudden glut of crypto exchange vs. lawmakers has you worried for the future of digital assets, remember that this confrontation has been years in the making.
13 years to be exact, if you go from the year Bitcoin's whitepaper appeared. Regulators are scared by the prospect of assets _they can't control__. Similar regulatory showdowns occurred during the dot com boom.
These crackdowns aren't the first, won't be the last, and are just a bump in the road toward the global ubiquity of crypto 🌎
🧲 Bulls take aim at $40K🧲
After weeks of truly bullish dumping, BTC's plunge below $30K might have finally satisfied the bear gods.
BTC made two runs over the $35K mark before backing off slightly each time. Right now, we're hovering in the $34K region without much drama.
To be clear, Bitcoin is worth $34K y'all. That's WILD — and don't you let pessimistic bears tell you otherwise. Remember that only a year ago we were all stoked about $9K...
But we also know that $35K isn't BTC end game. In the near term, $40K is the obvious resistance both technically and psychologically.
IF bulls push BTC back above weekly resistance, $46K is next before the airy heights of $60K. This scenario is all contingent on the strength of a potential move above $40K, but should bulls get through with gusto, a full-blow reversal is __finally_ on our hands.
🤷 WTF happened to Internet Computer ($ICP)?🤷
Internet Computer, perhaps better known as Dfinity, debuted in the top ten crypto projects with little warning.
Crypto Twitter immediately lit up with Insane Clown Posse memes as they wondered what ICP was and how it had accrued so much value seemingly overnight.
Dfinity started as an alternative to Ethereum in 2016 when it received significant backing from top-tier venture capitalists to the tune of $160+ million.
The project's product, Internet Computer, is an internet-scale-and-speed decentralized blockchain infrastructure intended to replace entire stacks of intermediaries between people and the web, such as AWS.
After building hype over the years, Dfinity rewarded early supporters with a locked airdrop of ICP tokens vested over a year. After ICP started trading, tokens reached as high as $3K before the harsh market downturn began in May.
It's true that the entire market has sharply corrected, but no one has about-faced harder than ICP. The token is down over 95% from the highs, touching as low as $27 over the weekend.
Why is $ICP being dumped so hard? The easy answer is — maybe people just don't understand it. Or perhaps it was a new token that entered the market at the wrong time.
Blockchain analysts have dug up evidence that there's more at play. It appears insider wallets transferred large amounts of ICP to exchanges before dumping them for between $2—$6 billion🙀
Right now, Dfinity is in damage control mode as the project attempts to clear its name and ward off any speculation of early investors dumping on retail.
💂♂️ Binance banned in UK
🐂 Bulls pushing a swift recovery
🤔 What's up with the Internet Computer?
🇬🇧 Binance banned by UK, warned in Canada & Japan 🇬🇧
Binance got pummeled by regulators over the weekend.
In the UK, Binance is now banned after regulators with the Financial Conduct Authority deemed it "not permitted to undertake any regulated activity in the UK."
The ban is yet another serious blow to Binance's global expansion efforts after the exchange was similarly forced to withdraw from the province of Ontario, Canada.
In that instance, Canadian regulators declared Binance in violation of regional securities laws. Binance then took the preemptive step of closing up shop in the region rather than enter a protracted legal battle to keep serving Ontario residents.
Similarly, Japanese financial authorities warned Binance that it's skirting local regulations by serving Japanese residents.
If the sudden glut of crypto exchange vs. lawmakers has you worried for the future of digital assets, remember that this confrontation has been years in the making.
13 years to be exact, if you go from the year Bitcoin's whitepaper appeared. Regulators are scared by the prospect of assets _they can't control__. Similar regulatory showdowns occurred during the dot com boom.
These crackdowns aren't the first, won't be the last, and are just a bump in the road toward the global ubiquity of crypto 🌎
🧲 Bulls take aim at $40K🧲
After weeks of truly bullish dumping, BTC's plunge below $30K might have finally satisfied the bear gods.
BTC made two runs over the $35K mark before backing off slightly each time. Right now, we're hovering in the $34K region without much drama.
To be clear, Bitcoin is worth $34K y'all. That's WILD — and don't you let pessimistic bears tell you otherwise. Remember that only a year ago we were all stoked about $9K...
But we also know that $35K isn't BTC end game. In the near term, $40K is the obvious resistance both technically and psychologically.
IF bulls push BTC back above weekly resistance, $46K is next before the airy heights of $60K. This scenario is all contingent on the strength of a potential move above $40K, but should bulls get through with gusto, a full-blow reversal is __finally_ on our hands.
🤷 WTF happened to Internet Computer ($ICP)?🤷
Internet Computer, perhaps better known as Dfinity, debuted in the top ten crypto projects with little warning.
Crypto Twitter immediately lit up with Insane Clown Posse memes as they wondered what ICP was and how it had accrued so much value seemingly overnight.
Dfinity started as an alternative to Ethereum in 2016 when it received significant backing from top-tier venture capitalists to the tune of $160+ million.
The project's product, Internet Computer, is an internet-scale-and-speed decentralized blockchain infrastructure intended to replace entire stacks of intermediaries between people and the web, such as AWS.
After building hype over the years, Dfinity rewarded early supporters with a locked airdrop of ICP tokens vested over a year. After ICP started trading, tokens reached as high as $3K before the harsh market downturn began in May.
It's true that the entire market has sharply corrected, but no one has about-faced harder than ICP. The token is down over 95% from the highs, touching as low as $27 over the weekend.
Why is $ICP being dumped so hard? The easy answer is — maybe people just don't understand it. Or perhaps it was a new token that entered the market at the wrong time.
Blockchain analysts have dug up evidence that there's more at play. It appears insider wallets transferred large amounts of ICP to exchanges before dumping them for between $2—$6 billion🙀
Right now, Dfinity is in damage control mode as the project attempts to clear its name and ward off any speculation of early investors dumping on retail.
Stacked Insights Newsletter, 06.29.21
🏈 Tom Brady teams up with FTX Exchange
🏎 Crypto.com is sponsoring Formula 1
🏄♂️ How to ride market trends
📸 Tom Brady becomes FTX equity stakeholder 📸
Who dares call this a bear market?
In yet another incredible twist, crypto now counts Tom Brady and Gisele Bundchen as ambassadors after the couple inked a partnership with FTX Exchange.
The deal sees Brady become the face of FTX Exchange while Bundchen, his wife, will lead FTX in bettering its environmental + social practices.
As payment, the couple opted to receive equity stakes in FTX payment, signaling their belief in the long-term prospects of crypto adoption.
The marquee deal brings the total FTX has recently spent amassing highly visible sports deals to $350 million. Now, FTX counts the MLB, Miami Heat, Tom Brady, and Trevor Lawrence as partners in ever-widening marketing campaign.
Our only question is who's next? 🔥
🏎 Crypto.com is sponsoring Formula 1 🏎
This is what you want to see during a downturn.
While retail traders bemoan their losses from the highs, crypto projects soldier on, keep building, and ink the wildest partnership deals imaginable.
FTX has been on a tear with its ultra high profile deals, but what about this massive move from Crypto.com? The eponymous exchange/wallet/crypto hub just became a title sponsor for none other than Formula 1.
Yeah. Let that sink in a minute 🤯
Starting now, the Crypto.com logo will feature on the Aston Martin team car, so look out for it at the next Grand Prix events.
The deal — valued at $100 million — makes Crypto.com the official Formula 1 cryptocurrency & NFT sponsor. As F1 rolls out NFT prizes for racers and fans alike, you can expect some form of integration with the Crypto.com ecosystem.
Bullish quote of the day? Look no further than this gem from F1 comms director Ben Pincus:
"We will rely heavily on Crypto.com’s expertise as we explore the world of cryptocurrency, an area we are very interested in.."🚀
🌊 How to make the trend your friend 🌊
The market can flip from über bull to hopelessly bear within the blink of an eye — especially if you watch on a short timeframe.
Keeping up with by-the-minute changes makes it incredibly difficult to sniff out market trends unless:
👨💻 You're a quant trader ala Sam Bankman-Fried
😏 You automate trades using Stacked Trading Bots
No disrespect to SBF, but Stacked bots shortcut the route to repeatable success by tapping into the minds of the best crypto strategists around.
All you have to do is create a Stacked account (ahem...for FREE), then swing over to the Marketplace.
Once there, a treasure trove of automated trading strategies awaits you. Curious about the potential returns? Check the 12 month performances below...
🤪 Psycho Bot, +1192%
👑 Trend King, +1169%
🗡 Samurai Scalp, +199%
No matter your timeframe, there's a Stacked Trading Bot tuned and ready to go. All you need to do is get plugged in — but that's the easy part.
Head over to 👉 Stackedinvest.com👈 and get a FREE account.
🏈 Tom Brady teams up with FTX Exchange
🏎 Crypto.com is sponsoring Formula 1
🏄♂️ How to ride market trends
📸 Tom Brady becomes FTX equity stakeholder 📸
Who dares call this a bear market?
In yet another incredible twist, crypto now counts Tom Brady and Gisele Bundchen as ambassadors after the couple inked a partnership with FTX Exchange.
The deal sees Brady become the face of FTX Exchange while Bundchen, his wife, will lead FTX in bettering its environmental + social practices.
As payment, the couple opted to receive equity stakes in FTX payment, signaling their belief in the long-term prospects of crypto adoption.
The marquee deal brings the total FTX has recently spent amassing highly visible sports deals to $350 million. Now, FTX counts the MLB, Miami Heat, Tom Brady, and Trevor Lawrence as partners in ever-widening marketing campaign.
Our only question is who's next? 🔥
🏎 Crypto.com is sponsoring Formula 1 🏎
This is what you want to see during a downturn.
While retail traders bemoan their losses from the highs, crypto projects soldier on, keep building, and ink the wildest partnership deals imaginable.
FTX has been on a tear with its ultra high profile deals, but what about this massive move from Crypto.com? The eponymous exchange/wallet/crypto hub just became a title sponsor for none other than Formula 1.
Yeah. Let that sink in a minute 🤯
Starting now, the Crypto.com logo will feature on the Aston Martin team car, so look out for it at the next Grand Prix events.
The deal — valued at $100 million — makes Crypto.com the official Formula 1 cryptocurrency & NFT sponsor. As F1 rolls out NFT prizes for racers and fans alike, you can expect some form of integration with the Crypto.com ecosystem.
Bullish quote of the day? Look no further than this gem from F1 comms director Ben Pincus:
"We will rely heavily on Crypto.com’s expertise as we explore the world of cryptocurrency, an area we are very interested in.."🚀
🌊 How to make the trend your friend 🌊
The market can flip from über bull to hopelessly bear within the blink of an eye — especially if you watch on a short timeframe.
Keeping up with by-the-minute changes makes it incredibly difficult to sniff out market trends unless:
👨💻 You're a quant trader ala Sam Bankman-Fried
😏 You automate trades using Stacked Trading Bots
No disrespect to SBF, but Stacked bots shortcut the route to repeatable success by tapping into the minds of the best crypto strategists around.
All you have to do is create a Stacked account (ahem...for FREE), then swing over to the Marketplace.
Once there, a treasure trove of automated trading strategies awaits you. Curious about the potential returns? Check the 12 month performances below...
🤪 Psycho Bot, +1192%
👑 Trend King, +1169%
🗡 Samurai Scalp, +199%
No matter your timeframe, there's a Stacked Trading Bot tuned and ready to go. All you need to do is get plugged in — but that's the easy part.
Head over to 👉 Stackedinvest.com👈 and get a FREE account.
Crypto.com Nederland: Veilig Bitcoin, Ethereum en meer dan 400 cryptovaluta kopen, verkopen en verhandelen
Koop, verkoop, bewaar en verhandel meer dan 400+ cryptovaluta op Crypto.com, een veilig en vertrouwd handelsplatform in Nederland.
Stacked Insights Newsletter, 07.02.21
🏦 George Soros is trading BTC
🤷 CeDeFi vs DeFi: Who has better yields?
😂 Congressman calls for blockchain 'backdoor'
🤴🏻 Billionaire George Soros fund is bullish on crypto🤴🏻
Add George Soros to the list of billionaires bullish on Bitcoin + crypto assets as a whole.
The famed investor built his epic fortune on ahead-of-the-curve gambles, including a legendary GBP short sale in 1992 that won him $1 billion overnight.
Now, the George Soros' personal investment fund is allocating resources to trade Bitcoin and other cryptocurrencies.
Here's the crux of the matter — nobody knows how the Soros Fund intends to trade BTC. So yeah, it's great they're getting in, but not if they're going to dump on us 😂
There's one big reason he isn't going to pull a repeat of his epic '92 short sale. Soros has donated over $32 billion to progressive causes throughout his life.
Combating wealth inequality is amongst his favorite causes. That's why his Robinhood approach of shorting bankers, then donating the money has made him the ire of financial elites.
It's likely he views BTC and other cryptocurrencies as a way to finally tackle — and even topple — the traditional financial institutions he's railed against for decades.
In any case, Soros' name is the latest in a long line of über wealthy folks dipping their toes in crypto. Recently, Ray Dalio, Carl Icahn, Ricardo Pliego, Mark Cuban, and...Elon Musk...have embraced Bitcoin.
🤔 Why are CeDeFi yields outperforming DeFi? 🤔
The days of high-flying DeFi yields seem to have dried up for now.
Whether you check out markets on Compound, Aave, or Curve, yields for popular stablecoins USDT, USDC, DAI, and GUSD are all returning between 1-2%.
For much of last year and 2021, those same platforms sometimes posted APY as high as 22% for stables.
But because DeFi platforms require supply to be utilized to offer higher yields, the current downtrend is making less people trade and, therefore, utilize less.
So, in a nutshell, less pool utilization = less returns for yield farmers 👩🌾
CeDeFi (centralized DeFi) platforms like Celsius, Coinbase, BlockFi, and Nexo have no such problem. They all offer fixed rate APY on stables ranging from 4% to as high as 10% depending on the asset.
Even though such yields are nowhere near what DeFi offered for so long, their consistency despite the bear-vibes market is tough to beat. How are they managing to outperform DeFi right now?
Both retail and institutional borrowers utilize CeDeFi platforms at higher rates than they do DeFi.
If you're searching for a reason, look no further than security. Nexo, Gemini, Coinbase, BlockFi, and Celsius accounts are all insured for millions of dollars. This extra peace of mind goes a long way when DeFi hacks happen daily.
However, DeFi platforms like Compound aren't taking the challenge posed by CeDeFi lightly. The protocol just announced Compound Treasury, a program for institutions to deposit USD stablecoins and receive a fixed 4% return.
🙄 Blockchain caucus chair says crypto needs a 'backdoor'🙄
You would think the co-chair of the Congressional Blockchain Caucus, a government group dedicated to understanding & expanding the development of blockchain tech, would be...smarter than this.
But apparently not. Bill Foster, a US rep from Illinois, said yesterday that blockchains need a 'crypto backdoor' that third parties, like courts, have access to.
The purpose of such a backdoor would be to retrieve crypto ransomware funds, unmask anonymous criminals using crypto, and reverse transactions due to fraud or user error.
To the last point, Foster believes a majority of people would want a way to reverse or recover transactions before holding significant funds on blockchains.
"I think for most people...they’re going to want to have that security blanket of a trusted third party."
🏦 George Soros is trading BTC
🤷 CeDeFi vs DeFi: Who has better yields?
😂 Congressman calls for blockchain 'backdoor'
🤴🏻 Billionaire George Soros fund is bullish on crypto🤴🏻
Add George Soros to the list of billionaires bullish on Bitcoin + crypto assets as a whole.
The famed investor built his epic fortune on ahead-of-the-curve gambles, including a legendary GBP short sale in 1992 that won him $1 billion overnight.
Now, the George Soros' personal investment fund is allocating resources to trade Bitcoin and other cryptocurrencies.
Here's the crux of the matter — nobody knows how the Soros Fund intends to trade BTC. So yeah, it's great they're getting in, but not if they're going to dump on us 😂
There's one big reason he isn't going to pull a repeat of his epic '92 short sale. Soros has donated over $32 billion to progressive causes throughout his life.
Combating wealth inequality is amongst his favorite causes. That's why his Robinhood approach of shorting bankers, then donating the money has made him the ire of financial elites.
It's likely he views BTC and other cryptocurrencies as a way to finally tackle — and even topple — the traditional financial institutions he's railed against for decades.
In any case, Soros' name is the latest in a long line of über wealthy folks dipping their toes in crypto. Recently, Ray Dalio, Carl Icahn, Ricardo Pliego, Mark Cuban, and...Elon Musk...have embraced Bitcoin.
🤔 Why are CeDeFi yields outperforming DeFi? 🤔
The days of high-flying DeFi yields seem to have dried up for now.
Whether you check out markets on Compound, Aave, or Curve, yields for popular stablecoins USDT, USDC, DAI, and GUSD are all returning between 1-2%.
For much of last year and 2021, those same platforms sometimes posted APY as high as 22% for stables.
But because DeFi platforms require supply to be utilized to offer higher yields, the current downtrend is making less people trade and, therefore, utilize less.
So, in a nutshell, less pool utilization = less returns for yield farmers 👩🌾
CeDeFi (centralized DeFi) platforms like Celsius, Coinbase, BlockFi, and Nexo have no such problem. They all offer fixed rate APY on stables ranging from 4% to as high as 10% depending on the asset.
Even though such yields are nowhere near what DeFi offered for so long, their consistency despite the bear-vibes market is tough to beat. How are they managing to outperform DeFi right now?
Both retail and institutional borrowers utilize CeDeFi platforms at higher rates than they do DeFi.
If you're searching for a reason, look no further than security. Nexo, Gemini, Coinbase, BlockFi, and Celsius accounts are all insured for millions of dollars. This extra peace of mind goes a long way when DeFi hacks happen daily.
However, DeFi platforms like Compound aren't taking the challenge posed by CeDeFi lightly. The protocol just announced Compound Treasury, a program for institutions to deposit USD stablecoins and receive a fixed 4% return.
🙄 Blockchain caucus chair says crypto needs a 'backdoor'🙄
You would think the co-chair of the Congressional Blockchain Caucus, a government group dedicated to understanding & expanding the development of blockchain tech, would be...smarter than this.
But apparently not. Bill Foster, a US rep from Illinois, said yesterday that blockchains need a 'crypto backdoor' that third parties, like courts, have access to.
The purpose of such a backdoor would be to retrieve crypto ransomware funds, unmask anonymous criminals using crypto, and reverse transactions due to fraud or user error.
To the last point, Foster believes a majority of people would want a way to reverse or recover transactions before holding significant funds on blockchains.
"I think for most people...they’re going to want to have that security blanket of a trusted third party."
Looks like the Congressional Blockchain Caucus has a lot more studying on their hands before grasping the thing about third parties and blockchains 😉
Stacked Insights Newsletter, 07.21.21
🚀 Elon says SpaceX owns BTC
🏦 FTX raises $900m in funding round
🎨 OpenSea NFT platform snags $100m
🏟 Elon says SpaceX holds BTC & more at B Word Conference🏟
The Bitcoin-focused B Word Conference quickly gained hype in recent days as Elon Musk, Jack Dorsey, and Cathie Wood all signed on as speakers.
Aimed at clarifying what Bitcoin is and how institutions benefit from holding BTC, the livestream crypto markets higher owing mostly to über-bullish statements by Musk.
At one point, Elon reconfirmed his holdings in BTC and DOGE but surprised the world when he admitted to owning ETH as well. Moments later, he outdid himself by confirming both Tesla AND SpaceX hold BTC.
If that wasn't enough, he also hinted that Tesla might resume BTC payments in light of Bitcoin miners hitting his 50% renewable energy mark.
"I want to do a little more diligence to confirm that the percentage of renewable energy usage is most likely at or above 50% and that there is a trend towards increasing that number. If so, Tesla will resume accepting Bitcoin.” ♻️
💪 FTX valued at $18 billion after largest raise in crypto history 💪
Say it's a bear market one more time, we dare you.
FTX Exchange just closed a historic $900 million fundraising round that values it at a whopping $18 billion.
The amount is 3x what Solana, Ledger, and Dapper Labs managed to come up with, signaling there's no shortage of institutional cash coming to crypto.
If you've seen the incredible pictures of FTX CEO Sam Bankman-Fried at his Hong Kong command station with 6 screens, endless snacks, and bean bags for stealing naps, you know he's been grinding for years.
Nothing summarizes getting at it quite like 24/7 commitment, and for SBF, all that hard work has come home to roost. Softbank, Paul Tudor Jones, and Sequoia Capital are just some of the notable names backing the exchange's bid to rival Coinbase.
👩🎨 OpenSea lands $100M funding to take NFTs mainstream👩🎨
Speaking of historic cash raises, NFT platform OpenSea just closed a $100 million funding round valuing it at $1.5 billion. The round comes hot on the heels of several outsized institutional investments into the crypto space.
Just in case you missed the action over the last 6 months, non-fungible tokens, or NFTs, have quite literally taken the world by storm. Damien Hirst, the closest living artist we have in stature to Dalí, said NFTs are "like the invention of paper."
The sports and gaming industries are especially into NFTs because of how they enable interactive digital merchandise markets. Polygon's Sandeep Nailwal believes NFTs in gaming will soon eclipse the film industry, the NBA, and other cash-infused industries COMBINED.
Think about that...
So it's no wonder Kevin Durant, Ashton Kutcher, Andreesen Horowitz, and Creative Artists Agency are all backing OpenSea's bid to make NFTs the blockchain gateway to the masses 🔰
🚀 Elon says SpaceX owns BTC
🏦 FTX raises $900m in funding round
🎨 OpenSea NFT platform snags $100m
🏟 Elon says SpaceX holds BTC & more at B Word Conference🏟
The Bitcoin-focused B Word Conference quickly gained hype in recent days as Elon Musk, Jack Dorsey, and Cathie Wood all signed on as speakers.
Aimed at clarifying what Bitcoin is and how institutions benefit from holding BTC, the livestream crypto markets higher owing mostly to über-bullish statements by Musk.
At one point, Elon reconfirmed his holdings in BTC and DOGE but surprised the world when he admitted to owning ETH as well. Moments later, he outdid himself by confirming both Tesla AND SpaceX hold BTC.
If that wasn't enough, he also hinted that Tesla might resume BTC payments in light of Bitcoin miners hitting his 50% renewable energy mark.
"I want to do a little more diligence to confirm that the percentage of renewable energy usage is most likely at or above 50% and that there is a trend towards increasing that number. If so, Tesla will resume accepting Bitcoin.” ♻️
💪 FTX valued at $18 billion after largest raise in crypto history 💪
Say it's a bear market one more time, we dare you.
FTX Exchange just closed a historic $900 million fundraising round that values it at a whopping $18 billion.
The amount is 3x what Solana, Ledger, and Dapper Labs managed to come up with, signaling there's no shortage of institutional cash coming to crypto.
If you've seen the incredible pictures of FTX CEO Sam Bankman-Fried at his Hong Kong command station with 6 screens, endless snacks, and bean bags for stealing naps, you know he's been grinding for years.
Nothing summarizes getting at it quite like 24/7 commitment, and for SBF, all that hard work has come home to roost. Softbank, Paul Tudor Jones, and Sequoia Capital are just some of the notable names backing the exchange's bid to rival Coinbase.
👩🎨 OpenSea lands $100M funding to take NFTs mainstream👩🎨
Speaking of historic cash raises, NFT platform OpenSea just closed a $100 million funding round valuing it at $1.5 billion. The round comes hot on the heels of several outsized institutional investments into the crypto space.
Just in case you missed the action over the last 6 months, non-fungible tokens, or NFTs, have quite literally taken the world by storm. Damien Hirst, the closest living artist we have in stature to Dalí, said NFTs are "like the invention of paper."
The sports and gaming industries are especially into NFTs because of how they enable interactive digital merchandise markets. Polygon's Sandeep Nailwal believes NFTs in gaming will soon eclipse the film industry, the NBA, and other cash-infused industries COMBINED.
Think about that...
So it's no wonder Kevin Durant, Ashton Kutcher, Andreesen Horowitz, and Creative Artists Agency are all backing OpenSea's bid to make NFTs the blockchain gateway to the masses 🔰
Stacked Insights Newsletter, 07.26.21
☄️ Short squeeze launches BTC to $48K
🤤 Amazon poised to accept Bitcoin payments?
👮♀️ Tether execs face criminal investigation
🚀 Bitcoin hits $48K during epic short squeeze 🚀
Wow, just...much wow.
You literally can't EVER write off Bitcoin. Case in point, BTC just giga pumped from $29K to $48K on near record volume.
A move of this magnitude brings speculators out of the woodwork, all of them giving reasons why the pump happened. Forget all the conspiracy theories — this pump has a simple explanation.
It was a short squeeze, plain and simple.
Willy Woo and Crypto Quant absolutely nailed it by calling out the short squeeze set up as far back as July 23.
The TLDR version of what happened is:
👉 BTC on-chain metrics showed an inbound supply shock (not enough BTC on exchanges to meet demand)
👉 RSI breakout on the daily chart
These co-factors led to an explosive move up as thousands of short positions were eviscerated, creating an epic ride to the moon fueled by the tears of liquidated bears 🎯
❓ Is Amazon about to start accepting Bitcoin payments❓
Just in time for the short squeeze-induced fireworks was a report by City AM, a little-known publication, that Amazon is ready to accept BTC this year.
The report cited an insider at Amazon who stated the company has been quietly adding to its blockchain & digital currency strategy with plans to add BTC payments.
It's likely the report added extra thrust to Bitcoin's largest price swing in months. However, with the 'insider' being unverified, and City AM providing no additional evidence or details, the veracity of the report was instantly in doubt.
Further complicating the matter is Amazon's swift denial of the insider's comments in a follow-up by Reuters. While Amazon's spokesperson said the report was untrue, they signaled the company's stake in crypto by stating:
"Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true."
So, whichever way you look at this so-called insider's insights and Amazon's rebuttal, it looks pretty good for Amazon + cryptocurrency in the near future🔮
⚖️ Tether executives can't catch a break ⚖️
Tether catches an insane amount of heat from regulators.
That shouldn't surprise anyone because of USDT's position as prime crypto liquidity source. However, iFinex, Tether's parent corporation, has already proven its reserves in court when pushed by NYAG Letitia James.
This time, Tether execs are facing a criminal probe into bank fraud charges 😅 Investigators are looking into whether Tether hid its connection to crypto from banks during its formation in 2014.
At the time, Tether was a young startup and banks were FAR less friendly toward crypto than they are now — which is saying lots.
In response to the investigation, Tether execs have said they're working with law enforcement to clear the air.
USDT is still the largest stablecoin in crypto, so the matter is of obvious importance to investors. We'll keep you updated as the situation evolves 🧐
☄️ Short squeeze launches BTC to $48K
🤤 Amazon poised to accept Bitcoin payments?
👮♀️ Tether execs face criminal investigation
🚀 Bitcoin hits $48K during epic short squeeze 🚀
Wow, just...much wow.
You literally can't EVER write off Bitcoin. Case in point, BTC just giga pumped from $29K to $48K on near record volume.
A move of this magnitude brings speculators out of the woodwork, all of them giving reasons why the pump happened. Forget all the conspiracy theories — this pump has a simple explanation.
It was a short squeeze, plain and simple.
Willy Woo and Crypto Quant absolutely nailed it by calling out the short squeeze set up as far back as July 23.
The TLDR version of what happened is:
👉 BTC on-chain metrics showed an inbound supply shock (not enough BTC on exchanges to meet demand)
👉 RSI breakout on the daily chart
These co-factors led to an explosive move up as thousands of short positions were eviscerated, creating an epic ride to the moon fueled by the tears of liquidated bears 🎯
❓ Is Amazon about to start accepting Bitcoin payments❓
Just in time for the short squeeze-induced fireworks was a report by City AM, a little-known publication, that Amazon is ready to accept BTC this year.
The report cited an insider at Amazon who stated the company has been quietly adding to its blockchain & digital currency strategy with plans to add BTC payments.
It's likely the report added extra thrust to Bitcoin's largest price swing in months. However, with the 'insider' being unverified, and City AM providing no additional evidence or details, the veracity of the report was instantly in doubt.
Further complicating the matter is Amazon's swift denial of the insider's comments in a follow-up by Reuters. While Amazon's spokesperson said the report was untrue, they signaled the company's stake in crypto by stating:
"Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true."
So, whichever way you look at this so-called insider's insights and Amazon's rebuttal, it looks pretty good for Amazon + cryptocurrency in the near future🔮
⚖️ Tether executives can't catch a break ⚖️
Tether catches an insane amount of heat from regulators.
That shouldn't surprise anyone because of USDT's position as prime crypto liquidity source. However, iFinex, Tether's parent corporation, has already proven its reserves in court when pushed by NYAG Letitia James.
This time, Tether execs are facing a criminal probe into bank fraud charges 😅 Investigators are looking into whether Tether hid its connection to crypto from banks during its formation in 2014.
At the time, Tether was a young startup and banks were FAR less friendly toward crypto than they are now — which is saying lots.
In response to the investigation, Tether execs have said they're working with law enforcement to clear the air.
USDT is still the largest stablecoin in crypto, so the matter is of obvious importance to investors. We'll keep you updated as the situation evolves 🧐
Twitter
Willy Woo
9 more hours from daily close. If price holds these levels, RSI breakout will confirm. RSI leads price breaks with quite high reliability. Meanwhile on-chain fundamentals: supply shock is in play and only getting stronger. A short squeeze setup. twitter.…
Stacked Insights Newsletter, 07.27.21
🤔 What's going on at Binance?
👎 Senate banking committee bashes Bitcoin
🏦 The big crypto exchange you haven't heard of
🤯 Is CZ getting ready to leave Binance?🤯
There's been a crazy amount of changes happening at Binance — and almost ALL of them are because of regulations.
Regulators in several European countries, the UK, Canada, and Japan have all brought the hammer down on Binance exchange in recent weeks.
Why? Because Binance is a massive global crypto exchange they have no control over. To bring Binance to heel, they've ordered Binance to stop serving residents in their respective countries, amongst other measures.
In response, CZ, the controversial-yet-beloved Binance CEO, is making big changes at the world's largest digital asset exchange, including:
👉 Making Binance a fully regulated financial institution
👉 Potentially stepping down as Binance boss 😲
👉 Reducing max leverage to 20x & removing tokenized stocks
Another of the early changes felt by millions of users is the new daily withdrawal limit for unverified users. It's now down from 2 BTC/day to a tiny 0.06 BTC/day.
🏛 Senate Banking Committee's crypto hearing takeaways🏛
So...you probably didn't have much faith that a boomer senator roundtable on crypto would have a positive outcome. Which is good, because you were right.
Today, the Senate Banking Committee headed by Sen. Sherrod Brown made a great many assertions about Bitcoin & crypto at large, including these classics:
😂 "There’s nothing democratic or transparent about a shady diffuse network of online funny money."
🤣 "Crypto puts the system at the whims of some shadowy faceless group of super coders and miners."
🤪 "Cryptocurrencies: What are they good for? Nothing."
Suffice to say, the Senate Banking Committee has quite a bit of crypto research to do. But jokes aside, these people hold vast amounts of power over the regulations soon to affect digital assets — especially stablecoins.
The fear-mongering surrounding crypto is reminiscent of FUD campaigns from bygone eras, replete with overtones of reefer madness-esque ignorance about the basics of how Bitcoin works.
Thankfully, these were only hearings and give crypto allies like Hester Pierce and Sen. Jon Tester time to outline counterpoints behind closed doors and at later meetings.
Today's Senate Banking Committee hearing is a reminder that the long-dreaded era of crypto regulations is upon us. But as exchanges like Coinbase, FTX, Binance, and Uniswap all get their ducks in a row, we have full faith the transition to a regulated industry will be seamless and drama-free.
🐂 Bullish: the biggest crypto exchange you haven't heard of 🐂
The crypto space has seen traditional finance enter in droves as legacy institutions place long term bets on digital assets.
So it's no wonder that after Coinbase's $100B valuation and both FTX + Kraken valued at $20B, a cadre of deep-pocketed players wants in on the crypto exchange action.
Enter Bullish, a new $9B crypto exchange headed by former NYSE president Thomas Farley. Bullish is in test pilot phase but is expected to roll out a public version of its exchange product this year.
In early screencaps of the Bullish UI, it looks in line with what we've come to expect from Coinbase, Binance, and the like. Bullish isn't reinventing the wheel here.
However, where the exchange differs is its AMM offering. The Bullish AMM will incentivize liquidity providers to bring assets onto the exchange — though details on how those incentives will work are scant.
Its hybrid central order book + deep liquidity via AMM model is certainly unlike anything else currently on the market. And given it's backers include Block.one and Peter Thiel, we're not the only ones curious about how Bullish will play out upon public launch.
🤔 What's going on at Binance?
👎 Senate banking committee bashes Bitcoin
🏦 The big crypto exchange you haven't heard of
🤯 Is CZ getting ready to leave Binance?🤯
There's been a crazy amount of changes happening at Binance — and almost ALL of them are because of regulations.
Regulators in several European countries, the UK, Canada, and Japan have all brought the hammer down on Binance exchange in recent weeks.
Why? Because Binance is a massive global crypto exchange they have no control over. To bring Binance to heel, they've ordered Binance to stop serving residents in their respective countries, amongst other measures.
In response, CZ, the controversial-yet-beloved Binance CEO, is making big changes at the world's largest digital asset exchange, including:
👉 Making Binance a fully regulated financial institution
👉 Potentially stepping down as Binance boss 😲
👉 Reducing max leverage to 20x & removing tokenized stocks
Another of the early changes felt by millions of users is the new daily withdrawal limit for unverified users. It's now down from 2 BTC/day to a tiny 0.06 BTC/day.
🏛 Senate Banking Committee's crypto hearing takeaways🏛
So...you probably didn't have much faith that a boomer senator roundtable on crypto would have a positive outcome. Which is good, because you were right.
Today, the Senate Banking Committee headed by Sen. Sherrod Brown made a great many assertions about Bitcoin & crypto at large, including these classics:
😂 "There’s nothing democratic or transparent about a shady diffuse network of online funny money."
🤣 "Crypto puts the system at the whims of some shadowy faceless group of super coders and miners."
🤪 "Cryptocurrencies: What are they good for? Nothing."
Suffice to say, the Senate Banking Committee has quite a bit of crypto research to do. But jokes aside, these people hold vast amounts of power over the regulations soon to affect digital assets — especially stablecoins.
The fear-mongering surrounding crypto is reminiscent of FUD campaigns from bygone eras, replete with overtones of reefer madness-esque ignorance about the basics of how Bitcoin works.
Thankfully, these were only hearings and give crypto allies like Hester Pierce and Sen. Jon Tester time to outline counterpoints behind closed doors and at later meetings.
Today's Senate Banking Committee hearing is a reminder that the long-dreaded era of crypto regulations is upon us. But as exchanges like Coinbase, FTX, Binance, and Uniswap all get their ducks in a row, we have full faith the transition to a regulated industry will be seamless and drama-free.
🐂 Bullish: the biggest crypto exchange you haven't heard of 🐂
The crypto space has seen traditional finance enter in droves as legacy institutions place long term bets on digital assets.
So it's no wonder that after Coinbase's $100B valuation and both FTX + Kraken valued at $20B, a cadre of deep-pocketed players wants in on the crypto exchange action.
Enter Bullish, a new $9B crypto exchange headed by former NYSE president Thomas Farley. Bullish is in test pilot phase but is expected to roll out a public version of its exchange product this year.
In early screencaps of the Bullish UI, it looks in line with what we've come to expect from Coinbase, Binance, and the like. Bullish isn't reinventing the wheel here.
However, where the exchange differs is its AMM offering. The Bullish AMM will incentivize liquidity providers to bring assets onto the exchange — though details on how those incentives will work are scant.
Its hybrid central order book + deep liquidity via AMM model is certainly unlike anything else currently on the market. And given it's backers include Block.one and Peter Thiel, we're not the only ones curious about how Bullish will play out upon public launch.
Stacked Insights Newsletter, 07.30.21
😏 This is not a bear market
🤩 Crypto memes + influencers on the cover of Fortune
💳 Mastercard going all in on crypto
💪 This is NOT a bear market 💪
Don't let anyone tell you different. Here's why...
The narrative arc of every crypto market downturn is roughly the same.
1️⃣ There's a hefty trend reversal that everyone calls "healthy"
2️⃣ Relief bounces never arrive and the market capitulates
3️⃣ Choppy conditions ensue for months as traders lose interest
We're currently in stage 3, the point at which traders start becoming convinced it's a bear market. The logic for this is simple: they bought into the up only meme, so unless the market goes up, it must be a bear market.
But markets never travel in straight lines — and if you think they do, toggle your chart's time frame. We hear you referencing the similar price action in 2018, and to that we say follow the money.
Follow where the kingmakers like a16z, Coinbase Ventures, and Pantera Capital are investing. Read about the constant deluge of $100M+ funding rounds for layer one blockchains, NFT platforms, and DeFi protocols.
In 2017, a $150M raise was historic. But in 2021, $300M is par for the course. And now worldwide governments & financial agencies are REALLY paying attention to us, hence the regulations raining on our heads.
That means crypto is winning. This is the new internet being built before your very eyes. Any market downturn, especially the one happening now, is well worth staking your financial future on.
Stacked makes it easy to buy the dip like a pro, try us out for free 👉 right here 👈
🥳 Crypto memelords + influencers land on cover of Fortune 🥳
OK, so a lot of crazy things have happened this year and last. So many crazy things that it's easy to feel like crazy things are just normal now.
Case in point, some of Crypto Twitter's most well known memelords, influencers, and trolls have made the cover of this month's Fortune Magazine.
Designed by pplpleasr, the chief meme generator at PleasrDAO, the cover features Crypto Cobain, The Crypto Dog, Hsaka, Aave, Compound Protocol, Sushi, and Three Arrows Capital, amongst others.
Check it out over on pplpleasr's twitter account 👏👏
😮 Mastercard going all in on crypto😮
Earlier today, Mastercard CEO Michael Miebach dropped an unexpected take during a conference call. Regarding crypto, Miebach said Mastercard "needs to be in this space."
The company is preparing its network for stablecoin support, a move that will give over 1 billion people access to crypto transactions. To make the move reality, Mastercard has so far partnered with stablecoin giants Circle & Paxos to roll out crypto cards.
Besides the obvious bullishness of supporting crypto transactions, the global company also announced Mastercard Start Path earlier this week. Start Path is an incubator program for crypto-focused startups.
😏 This is not a bear market
🤩 Crypto memes + influencers on the cover of Fortune
💳 Mastercard going all in on crypto
💪 This is NOT a bear market 💪
Don't let anyone tell you different. Here's why...
The narrative arc of every crypto market downturn is roughly the same.
1️⃣ There's a hefty trend reversal that everyone calls "healthy"
2️⃣ Relief bounces never arrive and the market capitulates
3️⃣ Choppy conditions ensue for months as traders lose interest
We're currently in stage 3, the point at which traders start becoming convinced it's a bear market. The logic for this is simple: they bought into the up only meme, so unless the market goes up, it must be a bear market.
But markets never travel in straight lines — and if you think they do, toggle your chart's time frame. We hear you referencing the similar price action in 2018, and to that we say follow the money.
Follow where the kingmakers like a16z, Coinbase Ventures, and Pantera Capital are investing. Read about the constant deluge of $100M+ funding rounds for layer one blockchains, NFT platforms, and DeFi protocols.
In 2017, a $150M raise was historic. But in 2021, $300M is par for the course. And now worldwide governments & financial agencies are REALLY paying attention to us, hence the regulations raining on our heads.
That means crypto is winning. This is the new internet being built before your very eyes. Any market downturn, especially the one happening now, is well worth staking your financial future on.
Stacked makes it easy to buy the dip like a pro, try us out for free 👉 right here 👈
🥳 Crypto memelords + influencers land on cover of Fortune 🥳
OK, so a lot of crazy things have happened this year and last. So many crazy things that it's easy to feel like crazy things are just normal now.
Case in point, some of Crypto Twitter's most well known memelords, influencers, and trolls have made the cover of this month's Fortune Magazine.
Designed by pplpleasr, the chief meme generator at PleasrDAO, the cover features Crypto Cobain, The Crypto Dog, Hsaka, Aave, Compound Protocol, Sushi, and Three Arrows Capital, amongst others.
Check it out over on pplpleasr's twitter account 👏👏
😮 Mastercard going all in on crypto😮
Earlier today, Mastercard CEO Michael Miebach dropped an unexpected take during a conference call. Regarding crypto, Miebach said Mastercard "needs to be in this space."
The company is preparing its network for stablecoin support, a move that will give over 1 billion people access to crypto transactions. To make the move reality, Mastercard has so far partnered with stablecoin giants Circle & Paxos to roll out crypto cards.
Besides the obvious bullishness of supporting crypto transactions, the global company also announced Mastercard Start Path earlier this week. Start Path is an incubator program for crypto-focused startups.
Twitter
pplpleasr
hi CT just wanna thank @FortuneMagazine for letting me put a bunch of pepes and anons on their August/Sept cover lmao the digital version is already live but you can also find the physical magazine on news stands globally next week!! fortune.com/magazine/
Stacked Insights Newsletter, 08.02.21
🚨 Don't skip this special edition🚨
🏛 EVERYTHING you need to know about the crypto bills in US congress
1️⃣ US Infrastructure bill
There's an infrastructure bill circulating in US congress right now that you would ordinarily have little reason to scrutinize.
However, this bill ended up with provisions for the cryptocurrency industry unlike any other in US government history. It amends who the Tax Code can call a broker, applying the category to nearly anyone interacting with crypto.
Even if you don't hold crypto but merely validate networks, provide liquidity, or mine — the new provision still defines you as a broker.
Now, why is this a HUGE problem?
Because first, according to the IRS Tax Code, anyone falling under the broker scope must comply by supplying KYC data for anyone they interact with. Second, brokers report to the IRS on a broad set of crypto transactions.
Ultimately, the IRS expects to bank $28 billion from the proposed crypto reporting rules.
Under the proposed new rules, if you're a DeFi protocol or a mining operation, you MUST collect KYC info from anyone using your service.
Clearly, this level of forced surveillance goes against everything crypto, and DeFi in particular, stands for. 🙅🏻♂️
2️⃣ The good news? It depends on your perspective
Just hours ago, the NY Times reported that crypto industry lobbyists successfully had the language about brokers narrowed down. Now it specifies them as anyone “...responsible for regularly providing any service effectuating transfers of digital assets on behalf of another person."
In other words, crypto exchanges. Is this a win? It sure doesn't feel like one if decentralized exchanges are, by law, required to collect KYC from us.
Besides, the language is still vague and could be interpreted to mean miners, protocol developers, and a whole host of people building/supporting blockchains.
After all, what is a blockchain besides a means of facilitating digital asset transfers? 🤷♂️
3️⃣ Digital Asset Market Structure bill
There's ANOTHER government bill designed to give the Treasury Secretary veto powers over stablecoins and a large say in how DeFi operates.
The Digital Asset Market Structure and Investor Protection Act was introduced by Rep. Don Beyer out of Virginia. Beyer has made little to no noise about crypto until this bill, so his motivations for suddenly springing a wide-ranging and well-informed digital assets bill are unknown.
Under the bill, stablecoins MUST be permissioned by the Treasury Secretary, otherwise they're illegal to issue and/or use. It's that simple 🙅♀️
The bill also goes after anonymity-boosting services found around DeFi products like mixers (the bill calls these "money mule" services). If the bill finds support and is passed, it would likely ban such anonymity-preserving features 🙀
🚨 Don't skip this special edition🚨
🏛 EVERYTHING you need to know about the crypto bills in US congress
1️⃣ US Infrastructure bill
There's an infrastructure bill circulating in US congress right now that you would ordinarily have little reason to scrutinize.
However, this bill ended up with provisions for the cryptocurrency industry unlike any other in US government history. It amends who the Tax Code can call a broker, applying the category to nearly anyone interacting with crypto.
Even if you don't hold crypto but merely validate networks, provide liquidity, or mine — the new provision still defines you as a broker.
Now, why is this a HUGE problem?
Because first, according to the IRS Tax Code, anyone falling under the broker scope must comply by supplying KYC data for anyone they interact with. Second, brokers report to the IRS on a broad set of crypto transactions.
Ultimately, the IRS expects to bank $28 billion from the proposed crypto reporting rules.
Under the proposed new rules, if you're a DeFi protocol or a mining operation, you MUST collect KYC info from anyone using your service.
Clearly, this level of forced surveillance goes against everything crypto, and DeFi in particular, stands for. 🙅🏻♂️
2️⃣ The good news? It depends on your perspective
Just hours ago, the NY Times reported that crypto industry lobbyists successfully had the language about brokers narrowed down. Now it specifies them as anyone “...responsible for regularly providing any service effectuating transfers of digital assets on behalf of another person."
In other words, crypto exchanges. Is this a win? It sure doesn't feel like one if decentralized exchanges are, by law, required to collect KYC from us.
Besides, the language is still vague and could be interpreted to mean miners, protocol developers, and a whole host of people building/supporting blockchains.
After all, what is a blockchain besides a means of facilitating digital asset transfers? 🤷♂️
3️⃣ Digital Asset Market Structure bill
There's ANOTHER government bill designed to give the Treasury Secretary veto powers over stablecoins and a large say in how DeFi operates.
The Digital Asset Market Structure and Investor Protection Act was introduced by Rep. Don Beyer out of Virginia. Beyer has made little to no noise about crypto until this bill, so his motivations for suddenly springing a wide-ranging and well-informed digital assets bill are unknown.
Under the bill, stablecoins MUST be permissioned by the Treasury Secretary, otherwise they're illegal to issue and/or use. It's that simple 🙅♀️
The bill also goes after anonymity-boosting services found around DeFi products like mixers (the bill calls these "money mule" services). If the bill finds support and is passed, it would likely ban such anonymity-preserving features 🙀
NY Times
Cryptocurrency in the infrastructure bill: The industry won last-minute concessions. (Published 2021)
Cryptocurrency lobbyists had expressed alarm at the prospect of far-reaching scrutiny from the I.R.S.
Stacked Insights Newsletter, 08.04.21
🏛 Crucial updates about the congressional crypto bills
🤯 SEC Chair Gensler finally comments on crypto
🧲 ETH, NFTs and DeFi take the market higher
📜 Key last minute amendments made to crypto bill 📜
You know how lobbyists are usually a bad thing? Well, there are CRYPTO lobbyists too, and they're currently fighting for our rights.
It's incredible how far the crypto industry has come that now we have people advocating in Washington DC. That's exactly what CoinCenter, a crypto advocacy group supported by everyone from Grayscale to Fidelity, is doing.
Because of these advocates, a bipartisan coalition made up of Senators Wyden, Loomis, and Toomey has introduced an amendment to the new crypto bill about brokers.
As it stands, the crypto bill in congress casts a wide net over most participants in the crypto space by loosely defining who brokers are. If the bipartisan amendment mentioned above is accepted, brokers will EXCLUDE miners, validators, and software devs and instead will narrowly focus on exchanges like Coinbase.
At the end of the day, Coinbase IS a crypto broker. So it makes sense to have them play by the rules applied to brokers. But miners, validators, and devs are clearly NOT brokers by any stretch of the imagination.
CoinCenter is urging everyone with 5 minutes to spare to call your senators and urge them to accept the bipartisan amendment to who is/isn't a crypto broker.
Follow this link to save the future of crypto — you'll reach a human being within 2 minutes of calling ☎️
🤭 Remember when Gary Gensler looked promising for crypto? 🤭
For a second, Gary Gensler seemed like a god tier SEC chairman. He taught classes at MIT on cryptocurrency and had a history of positive, even enlightened, statements about Bitcoin.
So his first focused statements on crypto were awaited with quiet anticipation by many, and now that he's made them, nobody knows quite what to think.
For starters, Gensler says the SEC will aggressively regulate crypto markets using laws they already have. In other words, laws created decades ago to regulate non-digital assets will be applied to decentralized exchanges swapping synthetic assets, digital tokens, NFTs, and so forth 🤦♂️
Gensler went on to reiterate that stablecoins might be securities (despite the fact that they're designed to be, uh, stable), and that exchanges are probably dealing in unregistered securities.
On the bright side, Gensler made several positive comments about Bitcoin, calling it a real innovation, and signaling the possibility of a Bitcoin ETF. He also indicated, or rather reiterated, that Bitcoin is not a security.
Some, like Michael Saylor, believe Gensler's comments were positive for Bitcoin and that clear regulations will boost crypto markets. While that may be true, it also looks a lot like the powers that be want to train crypto to act more like traditional finance.
Where do you stand on Gensler's comments?👀
📈 Ethereum, NFTs and DeFi trading higher and higher 📈
Maybe it was Eminem, Coinbase, Pantera, and an ex Sotheby's CEO all investing in NFT platform MakersPlace. Or maybe it's Ethereum EIP-1559 upgrade on the verge of happening. No wait, could it be Robinhood's HOOD stock going 2x on Nasdaq?
Whatever it is, there's crazy bullish news and sentiment surrounding Ethereum, NFTs, and DeFi.
Platforms like Axie Infinity are approaching the 1 million users mark, Terra Luna's Anchor DeFi savings platform is posting a 20% increase in deposits, and THORChain is bouncing HARD after a series of exploits.
DeFi stalwarts like Compound and Uniswap have also posted double digit gains this week signaling investor confidence is returning to the space after months on the decline.
Moreover, NFT weekly trading volume surpassed $300 million for the first time as platforms like OpenSea did more volume in 2 days than in all of 2020.
🏛 Crucial updates about the congressional crypto bills
🤯 SEC Chair Gensler finally comments on crypto
🧲 ETH, NFTs and DeFi take the market higher
📜 Key last minute amendments made to crypto bill 📜
You know how lobbyists are usually a bad thing? Well, there are CRYPTO lobbyists too, and they're currently fighting for our rights.
It's incredible how far the crypto industry has come that now we have people advocating in Washington DC. That's exactly what CoinCenter, a crypto advocacy group supported by everyone from Grayscale to Fidelity, is doing.
Because of these advocates, a bipartisan coalition made up of Senators Wyden, Loomis, and Toomey has introduced an amendment to the new crypto bill about brokers.
As it stands, the crypto bill in congress casts a wide net over most participants in the crypto space by loosely defining who brokers are. If the bipartisan amendment mentioned above is accepted, brokers will EXCLUDE miners, validators, and software devs and instead will narrowly focus on exchanges like Coinbase.
At the end of the day, Coinbase IS a crypto broker. So it makes sense to have them play by the rules applied to brokers. But miners, validators, and devs are clearly NOT brokers by any stretch of the imagination.
CoinCenter is urging everyone with 5 minutes to spare to call your senators and urge them to accept the bipartisan amendment to who is/isn't a crypto broker.
Follow this link to save the future of crypto — you'll reach a human being within 2 minutes of calling ☎️
🤭 Remember when Gary Gensler looked promising for crypto? 🤭
For a second, Gary Gensler seemed like a god tier SEC chairman. He taught classes at MIT on cryptocurrency and had a history of positive, even enlightened, statements about Bitcoin.
So his first focused statements on crypto were awaited with quiet anticipation by many, and now that he's made them, nobody knows quite what to think.
For starters, Gensler says the SEC will aggressively regulate crypto markets using laws they already have. In other words, laws created decades ago to regulate non-digital assets will be applied to decentralized exchanges swapping synthetic assets, digital tokens, NFTs, and so forth 🤦♂️
Gensler went on to reiterate that stablecoins might be securities (despite the fact that they're designed to be, uh, stable), and that exchanges are probably dealing in unregistered securities.
On the bright side, Gensler made several positive comments about Bitcoin, calling it a real innovation, and signaling the possibility of a Bitcoin ETF. He also indicated, or rather reiterated, that Bitcoin is not a security.
Some, like Michael Saylor, believe Gensler's comments were positive for Bitcoin and that clear regulations will boost crypto markets. While that may be true, it also looks a lot like the powers that be want to train crypto to act more like traditional finance.
Where do you stand on Gensler's comments?👀
📈 Ethereum, NFTs and DeFi trading higher and higher 📈
Maybe it was Eminem, Coinbase, Pantera, and an ex Sotheby's CEO all investing in NFT platform MakersPlace. Or maybe it's Ethereum EIP-1559 upgrade on the verge of happening. No wait, could it be Robinhood's HOOD stock going 2x on Nasdaq?
Whatever it is, there's crazy bullish news and sentiment surrounding Ethereum, NFTs, and DeFi.
Platforms like Axie Infinity are approaching the 1 million users mark, Terra Luna's Anchor DeFi savings platform is posting a 20% increase in deposits, and THORChain is bouncing HARD after a series of exploits.
DeFi stalwarts like Compound and Uniswap have also posted double digit gains this week signaling investor confidence is returning to the space after months on the decline.
Moreover, NFT weekly trading volume surpassed $300 million for the first time as platforms like OpenSea did more volume in 2 days than in all of 2020.
Fight for the Future
DON'T KILL CRYPTO
Stop Congress from implementing total surveillance of the crypto-economy. Check the scorecard and contact your Representatives now!
Stacked Insights Newsletter, 08.05.21
🔥 ETH is officially a deflationary asset
🤯 Chainlink building a revolutionary bridge
🕹 Stacked adds one-of-a-kind NFT gaming index
📉 Ethereum EIP-1559 now live & burning ETH supply 📉
For months, the hype about EIP-1559, an Ethereum improvement built into the London upgrade, was all about gas prices.
Gas is currently sitting 45 gwei which, while not stellar, isn't too bad either. But really, the focus on gas costs post EIP-1559 was misguided since the BIG story is that ETH is now a deflationary asset.
In a nutshell, EIP-1559 is slowing the rate of ETH release into the circulating supply. At the same time, a mechanism for burning ETH from the supply is counterbalancing inflation, and sometimes surpassing that it to actually DEFLATE the ETH supply.
It hasn't even been 24 hours since the London upgrade successfully dropped and already, nearly 3,000 ETH has been burned.
Want to watch ETH being burned by the block? Check out this live dashboard tracking the action —> etherchain.org/burn 🔥
🌉 Chainlink wants to bridge ALL blockchains 🌉
Composability is a super important yet poorly understood DeFi concept. Basically, composability in DeFi refers to interoperability between different protocols, like Curve, Aave, and Sushi.
Take Convex Finance for example. Convex is built on Ethereum and gives Curve liquidity providers boosted CRV rewards when they deposit LP tokens on its platform.
Right there, you have stacked plug & play integration amongst Ethereum applications resulting in creative & profitable possibilities for users.
What if you wanted to experience the same level of composability between Ethereum and Solana apps? Right now, you can't do that because Ethereum & Solana can't communicate — yet.
Today, Chainlink announced a bridge called the Cross-Chain Interoperability Protocol (CCIP) that aims to make different blockchain protocols interoperable.
The key idea is that once blockchains sign on to the CCIP standard, they can work with each other. Chainlink cofounder Sergey Nazarov explains:
“Just the same way that different applications on Ethereum use each other, now, different applications across different chains can use each other."
For instance, in a CCIP world, DeFi apps on Solana can accept Polkadot, Ethereum, or BSC tokens as collateral, and vice versa. Clearly, the DeFi game is only beginning to heat up 😎
🕹 Stacked adds one-of-a-kind NFT gaming index 🕹
We heard NFTs are kind of a big deal.
So, we took the liberty of working with @fitchinverse, one of the world's foremost NFT experts, to create a truly gifted array of large + small cap tokens providing exposure to NFT game markets and digital land.
Dubbed the NFT Gaming Stack, you can set this index up for yourself within minutes in the Stacked Marketplace.
Right now, the NFT Gaming Stack is holding a bullish basket of AXS, ENJ, GHST, MANA, and SAND.
Axie Infinity is approaching 1 million users, The Sandbox is partnering with Jack Ma owned companies, and Facebook is betting its future on the metaverse.
In other words — please, think twice before fading this index 💪
Try the NFT Gaming Stack along with countless others by getting started for freeee right here 👉 stackedinvest.com👈
🔥 ETH is officially a deflationary asset
🤯 Chainlink building a revolutionary bridge
🕹 Stacked adds one-of-a-kind NFT gaming index
📉 Ethereum EIP-1559 now live & burning ETH supply 📉
For months, the hype about EIP-1559, an Ethereum improvement built into the London upgrade, was all about gas prices.
Gas is currently sitting 45 gwei which, while not stellar, isn't too bad either. But really, the focus on gas costs post EIP-1559 was misguided since the BIG story is that ETH is now a deflationary asset.
In a nutshell, EIP-1559 is slowing the rate of ETH release into the circulating supply. At the same time, a mechanism for burning ETH from the supply is counterbalancing inflation, and sometimes surpassing that it to actually DEFLATE the ETH supply.
It hasn't even been 24 hours since the London upgrade successfully dropped and already, nearly 3,000 ETH has been burned.
Want to watch ETH being burned by the block? Check out this live dashboard tracking the action —> etherchain.org/burn 🔥
🌉 Chainlink wants to bridge ALL blockchains 🌉
Composability is a super important yet poorly understood DeFi concept. Basically, composability in DeFi refers to interoperability between different protocols, like Curve, Aave, and Sushi.
Take Convex Finance for example. Convex is built on Ethereum and gives Curve liquidity providers boosted CRV rewards when they deposit LP tokens on its platform.
Right there, you have stacked plug & play integration amongst Ethereum applications resulting in creative & profitable possibilities for users.
What if you wanted to experience the same level of composability between Ethereum and Solana apps? Right now, you can't do that because Ethereum & Solana can't communicate — yet.
Today, Chainlink announced a bridge called the Cross-Chain Interoperability Protocol (CCIP) that aims to make different blockchain protocols interoperable.
The key idea is that once blockchains sign on to the CCIP standard, they can work with each other. Chainlink cofounder Sergey Nazarov explains:
“Just the same way that different applications on Ethereum use each other, now, different applications across different chains can use each other."
For instance, in a CCIP world, DeFi apps on Solana can accept Polkadot, Ethereum, or BSC tokens as collateral, and vice versa. Clearly, the DeFi game is only beginning to heat up 😎
🕹 Stacked adds one-of-a-kind NFT gaming index 🕹
We heard NFTs are kind of a big deal.
So, we took the liberty of working with @fitchinverse, one of the world's foremost NFT experts, to create a truly gifted array of large + small cap tokens providing exposure to NFT game markets and digital land.
Dubbed the NFT Gaming Stack, you can set this index up for yourself within minutes in the Stacked Marketplace.
Right now, the NFT Gaming Stack is holding a bullish basket of AXS, ENJ, GHST, MANA, and SAND.
Axie Infinity is approaching 1 million users, The Sandbox is partnering with Jack Ma owned companies, and Facebook is betting its future on the metaverse.
In other words — please, think twice before fading this index 💪
Try the NFT Gaming Stack along with countless others by getting started for freeee right here 👉 stackedinvest.com👈
beaconcha.in
Open Source Ethereum Blockchain Explorer - beaconcha.in - 2026
beaconcha.in makes Ethereum accessible to non-technical end users
Stacked Insights Newsletter, 08.09.21
🙀 Crypto amendment shot down at last minute
🎯 BTC rallies above $46K, is $50K+ next?
🎨 Why NFTs are bigger than DeFi right now
🤬 Crypto amendment shot down by Sen. Shelby of Alabama 🤬
Tense weekend-long negotiations over the future of crypto in America fizzled in the final hour. Sen. Shelby of Alabama prevented a vote on proposed amendments to the language used in the bill drawn up by a bipartisan coalition of senators.
The amendments would have narrowed the definition of crypto brokers to specifically indicate exchanges, not miners/validators/blockchain developers. But now that Sen. Shelby has nixed the amendment just ahead of Tuesday's vote on the $1T infrastructure bill, America may have just given up rights to the next greatest tech revolution of our lifetimes.
At this point, the only hope remaining for the amendment proposed by Sen. Wyden, Lummis, and Toomey, is if Shelby, an old conservative Republican with deep ties to the banking industry, changes his mind before tomorrow's vote.
Otherwise, because of the broad vagueness of who is/isn't a broker, the crypto industry is likely to build from friendlier countries with fewer tax and surveillance clauses than the US.
🚀 BTC on a mission to $50K+? 🚀
Bitcoin definitively broke through $45K resistance as all eyes turned to digital assets with US congress intensely debating a controversial crypto bill.
The notion that there's no such thing as bad publicity applies here, as mainstream media mentions of Bitcoin and cryptocurrencies in general are at all time highs. Even though the crypto amendment was eventually shot down by a lone senator, BTC has handsomely profited from the spotlight.
A downward line of resistance holding BTC below $45K marked a line in the sand which, if broken, could send BTC sailing as high as $90K before the year's end. Sure enough, Bitcoin punched through the line in style, hurtling all the way to $46K before pulling back slightly.
With the BTC weekly printing solidly above the downward line of resistance, it's now up to bulls to keep the momentum through to $48K — a staunch line of defense for the bears🐻
🔪 PsychoBot ETH is finally here! Free for the first 200 — be quick! 🔪
Legendary crypto trader AltcoinPsycho just dropped his ETH trading bot on the Stacked Marketplace. The original PsychoBot is one of our most popular — and profitable — trading bots ever, so we're SUPER excited for this.
After 3 months of private testing, PsychoBot ETH has a 55% win rate + 153% ROI 👏👏
This bot is EXCLUSIVE and capped to the first 200 users on a first come first serve basis. The best part? It's FREE for the first 30 days with code ETH30.
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🙀 Crypto amendment shot down at last minute
🎯 BTC rallies above $46K, is $50K+ next?
🎨 Why NFTs are bigger than DeFi right now
🤬 Crypto amendment shot down by Sen. Shelby of Alabama 🤬
Tense weekend-long negotiations over the future of crypto in America fizzled in the final hour. Sen. Shelby of Alabama prevented a vote on proposed amendments to the language used in the bill drawn up by a bipartisan coalition of senators.
The amendments would have narrowed the definition of crypto brokers to specifically indicate exchanges, not miners/validators/blockchain developers. But now that Sen. Shelby has nixed the amendment just ahead of Tuesday's vote on the $1T infrastructure bill, America may have just given up rights to the next greatest tech revolution of our lifetimes.
At this point, the only hope remaining for the amendment proposed by Sen. Wyden, Lummis, and Toomey, is if Shelby, an old conservative Republican with deep ties to the banking industry, changes his mind before tomorrow's vote.
Otherwise, because of the broad vagueness of who is/isn't a broker, the crypto industry is likely to build from friendlier countries with fewer tax and surveillance clauses than the US.
🚀 BTC on a mission to $50K+? 🚀
Bitcoin definitively broke through $45K resistance as all eyes turned to digital assets with US congress intensely debating a controversial crypto bill.
The notion that there's no such thing as bad publicity applies here, as mainstream media mentions of Bitcoin and cryptocurrencies in general are at all time highs. Even though the crypto amendment was eventually shot down by a lone senator, BTC has handsomely profited from the spotlight.
A downward line of resistance holding BTC below $45K marked a line in the sand which, if broken, could send BTC sailing as high as $90K before the year's end. Sure enough, Bitcoin punched through the line in style, hurtling all the way to $46K before pulling back slightly.
With the BTC weekly printing solidly above the downward line of resistance, it's now up to bulls to keep the momentum through to $48K — a staunch line of defense for the bears🐻
🔪 PsychoBot ETH is finally here! Free for the first 200 — be quick! 🔪
Legendary crypto trader AltcoinPsycho just dropped his ETH trading bot on the Stacked Marketplace. The original PsychoBot is one of our most popular — and profitable — trading bots ever, so we're SUPER excited for this.
After 3 months of private testing, PsychoBot ETH has a 55% win rate + 153% ROI 👏👏
This bot is EXCLUSIVE and capped to the first 200 users on a first come first serve basis. The best part? It's FREE for the first 30 days with code ETH30.
Get in here quick 👉 https://app.stackedinvest.com/strategies/355/bot/purchase 👈
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Altcoin Psycho
Some exciting news: My ETH bot is finally live after 3 months of private testing! API verified results so far: 153% ROI 55% win rate 3.55 Sharpe Capped at 200 users, first come first serve. Use the code ETH30 for a free 30 day subscription 🤝🖤app.stackedi…