Digital Asset Fund Flows - weekly

• Digital asset investment products faced a 2nd consecutive week of outflows, totaling $72M
• Bitcoin saw the majority of outflows, totaling $46M
• Ethereum experienced $19M in outflows, the largest since September 2022
• Outflows occurred across all regions, primarily in $40M Germany and $14M Canada
• Short-Bitcoin saw its largest outflows since December 2022, but remains a winner in inflows YTD
• Minor inflows observed in altcoins like Solana, Algorand, and Polygon
• Blockchain equities also saw outflows of $2.5M, but YTD net flows are positive

Reminder:
US - FOMC - May 3
CPI Data - May 10

Market - Update

• Janet Yellen warns US Treasury could run out of cash by June 1st, earlier than expected
• US Treasury's borrowing estimates increased due to undershooting tax receipts
• Implied default probability on US government debt rises to multi-decade highs
• Market liquidity will be affected when a resolution is reached and the Treasury issues more bills
• Recent bank failures, like First Republic Bank, have been the largest in US history
• Market assumes implicit nationalization and extension of FDIC insurance
• Equity and bondholders face potential losses due to bank failures
• Bank failures are driven by massive losses on investment securities
• Reserve constraints may lead to more financial sector trouble
• The Fed's balance sheet swings impact asset prices globally
• Actions during the ongoing banking crisis will be closely watched

Congratulations on the first x10!

For those of you who seized the opportunity for the quick profit tip regarding the SUI presale in our TL;DR issue from two weeks ago, you've achieved your first 10x (atm x13). If you were lucky enough to enter the higher presale tier, it's even a 40x return!

Well done brother!

In our new Altcoin Report, we have selected more projects for YOU.
These picks aim to make the portfolio shine in the next bull market!

Get it here: t.me/cryptobullets_bot?start=4

If you want to be ready for the next run, don't miss this opportunity.

We will have more tips like this coming. We're just getting started. NOW is the time to prepare and learn for the big wins later.

We're here to help you make informed decisions!

Note: SUI unlocks will come in the next few months and will last for 24 months. Even though the seed/private round was on average above the community sale, the price is much higher. So be careful!

Bitcoin developments - BRC-20

Our TL;DR readers have already heard about it, but we see it trending more and more and we don't want to keep it from you.

BRC-20 is a new experimental fungible token built on the Bitcoin network using the Ordinals protocol.

Read more about it here:
https://twitter.com/cryptoBLTS/status/1654131065139924992?s=20

Do you want a short tutorial on BRC-20? React with 🔥

BTC - Update

• Bitcoin's price has lost momentum and is hovering around $30,000 with areas of interest for a potential downside at $27,000 and $25,000
• Bearish indicators remain with realized bitcoin price below $20,000, a wind down of annualized futures basis, and pricier calls compared to puts in the options market
• Fund flows have been negative for two weeks straight as short-term speculators lock in profits
• Concerns around American regional banking failures and the timing of a Federal Reserve path for rate cuts weigh on the broader market, with the risk of another broader market selloff still in play this year
• Despite concerns, long-term cyclical indicators show bitcoin at an attractive accumulation price, but it's worth seeing how bitcoin performs on any potential retest of $25,000 first


Note: Tomorrow we will publish the BRC-20 Tutorial for you

BRC-20 First Steps (Fast & Easy)

We've created a easy step by step instruction for you to get an overview and understand BRC-20 better.
Keep in mind that this is a new product and therefore risky!

There are different wallet providers and ways of interactions. We have mentioned two of them for you.

You should also keep in mind that BRC-20 is not like ERC-20.

Always double-check everything and always be careful with interactions.

First Steps: https://twitter.com/cryptoBLTS/status/1654853438176481280?s=20

This week we have updated the CryptoBullets TL;DR issue for you.

We know you deserve the best, and that's why we've crafted a razor-sharp, on-point issue just for you!

Don't miss your chance to stay ahead of the curve with the week's top developments and essential insights!

All in just one CryptoBullets TL;DR.

In this week's issue:
- Bitcoin and what to expect
- 6 Altcoin Updates
- Economic conditions
- Regulation
- Protocol Updates
- Key Industry News

Get your CryptoBullets TL;DR issue here: @cryptobullets_bot

This week's sources:
- Reflexivity Research
- BlockworksResearch
- Bitcoin Magazine
- ECOINOMETRICS
- Bitcoin DATA
- Rekt Capital
- The Bitcoin Layer
- Bankless

MakerDAO introduces Spark Protocol

• Wholesale DAI credit line access
• Initial MakerDAO ownership, later sub-DAO
• Features Spark Lend & front-end interface
• Customized Aave codebase for DAI
• Governance-set interest rate
• $5M initial cap, $200M expected growth
• ETH & stETH as first collateral assets
• Decentralized collateral focus
• Tokenized Savings DAI & DSR access
• Regulatory-compliant interface

-> Revenue benefits MKR holders
-> Aims to expand DAI & Maker ecosystem

Digital Asset Fund Flows - weekly

• Digital asset investment products experienced 3rd consecutive week of outflows, totaling $54M.
• Broader industry volumes at 50% of the year's start, investment product volumes up by 16% YTD.
• Majority of outflows from Germany $27M and Canada $20M.
• Bitcoin faced $32M of outflows, with the US showing positive sentiment with $18M inflows and a record $23M outflows from short-bitcoin.
• Altcoins saw low investor activity: Ethereum had $2.3M outflows; Solana had $3.4M inflows, the second-largest in 12 months.
• Blockchain equities experienced largest weekly outflows of 2023 at $7.3M, likely due to profit-taking after positive price performance.

Stride - Interchain DeFi - LST

• Appchain providing liquidity for staked tokens (Cosmos IBC ecosystem)
• Users can liquid stake their tokens on any Cosmos chain
-> Enables users to earn staking and DeFi yields (multiple chains)
• 100% of its protocol revenue to STRD stakers
• Plans to support all IBCv3-compatible tokens as "st"-Tokens.

Key news/ note:
• Stride plans to use Axelar's General Message Passing (GMP) for cross-chain contract calls
• Relies on IBC/ICA for liquid staking on Cosmos chains, enabling rapid scalability
• With GMP, Stride could onboard non-Cosmos chains (Could become a competitor for Lido)

-> Axelar's GMP can serve as an IBC alternative for non-Cosmos chains, expanding Stride's possibilities.

Market - Update

• U.S. inflation is moderating, with CPI coming in at 4.9% on a year-over-year basis
• The deceleration in inflation increases the likelihood of a pause in the Fed's tightening cycle
• Shelter costs showed a smaller increase, while prices for airfares, hotels, and new cars fell
• Real wages have declined for 25 consecutive months, reducing purchasing power
• Short-term Treasury yields have turned positive compared to inflation, providing relief to yield-starved investors
• The unemployment rate may start rising in the coming months, cooling inflationary pressures but potentially dampening economic growth

____

Money Flow - Fundraising Market Crypto

- Fundraising deals April: $1.34B
- No overall trend shift in the fundraising market
- But an upward trend in the DeFi sector
- Approximately $250M (x2.5 to March)

-> Some projects that have raised funds indicate upcoming Defi trends and new narratives.
We analyze them and present you the best picks. Stay tuned!
There is still enough time to position yourself for the various sectors and narratives.

LTC-20 (inspired by Brc-20)

• A standard for creating fungible tokens (on Litecoin)
• No usecase
• As with BRC-20 it is just an experiment
• LTC-20 tokens can be created, minted, and transferred
• Around 850 LTC-20 tokens have been created, but most are not yet mintable

As already written in the TL;DR, copies of Brc-20 will come on other chains and here we are now.

Note: The value is created by the community. Bitcoin Ordinals and Brc-20 are backed by a much stronger community than Litecoin will have. The risk here is relatively high that it will not become established in the long term.
Short-term profits could arise, considering the fact that you are currently only paying the network fees. Be careful anyway!

Nocturne

• Protocol for private, composable accounts on Ethereum
• Supports anonymous token transactions and confidential payments
• Users can prove asset ownership and transaction history without revealing their identity
• First product is a private asset vault for secure storage, yield and withdraw to burner wallets for trading
• It can also be used as a backend for private payments, like shielded payroll
• Nocturne's SDK can be integrated into wallets for enhanced asset privacy

Narratives: account abstraction, zk and privacy

Currently there is no way to invest, but the testnet is coming soon, with mainnet in the following months.
So the opportunity may come soon.

Outperforming Bitcoin, Airdrops with very high probability IS POSSIBLE?!

Unlock this treasure trove of insights with this week's Crypto Bullets TL;DR.

Access the latest issue here: @cryptobullets_bot

We're incredibly grateful for your positive feedback and thrilled to see you achieve fantastic profits using insights from our reports.

Your triumph is our mission. Your success is our success. Together, we win!

We've also listened to your feedback and sharpened our focus in the Crypto Bullets TL;DR.

In this issue:
• Uncover strategies to capitalize on Bitcoin's success and significantly surpass its price growth.
• Seize the opportunity with 5 projects poised for massive airdrops to supporters
• 8 Altcoin TA
• Crucial reports and key news from the past week

Crypto Bullets TL;DR: @cryptobullets_bot

Ready for more rapid profit opportunities or preparations for narrative plays?

React with 🔥 if you really are!

Market - This Week

Monday
• US - Empire State Manf Index (MAY)
• China - Industrial Production (APR)

Tuesday
• US - Retail Sales (APR)
• Canada - CPI Inflation (APR)
• UK - Jobs Report (APR)

Wednesday
• US - Building Permits (APR)
• US - Housing Starts (APR)
• Europe - CPI Inflation (APR)

Thursday
• US - Philly Fed Manf Index (MAY)
• US - Existing Home Sales (APR)


______



Protocol TL;DR: Cowswap

• Uses CoW protocol for gasless P2P token trades
• Coincidence of Wants (CoW) enables direct asset exchanges without AMMs
• Trades are settled via batch auctions, reducing MEV extraction and DEX AMM dependence
• Batch auctions mitigate slippage and enhance execution
• Solvers compete for best execution price, adhering to DAO rules to avoid penalties
• Rewards for solvers are split based on value provided
• Cowswap's growth in monthly volumes attracts large traders seeking better execution

Digital Asset Fund Flows - weekly

• 4th consecutive week of outflows
• Outflows of $54M, bringing the total outflow to $200M. Bitcoin accounted for 80% of the outflows
• Europe saw significant outflows, while the US had most of its outflows from investors closing short positions
• Total assets under management decreased by 13% (since their mid-April peak) due to price declines
• Inflows were observed in eight altcoins, indicating growing investor interest in alts
• Cardano, Tron, and Sandbox had notable inflows (in realtion to other alts), while BNB experienced outflows

Bitcoin's halving & Fed's next easing cycle

• Bitcoin's fourth halving expected in roughly 345 days
• Around the same time (until EOY or beginning of next year), the Fed is expected to shift from a tightening to an easing policy due to economic downturns
• May boost Bitcoin prices, as one money supply (USD) expands while another (Bitcoin) becomes more scarce
• Previous Bitcoin halvings led to significant price increases, and this one might coincide with the Fed's easing
• Bitcoin's correlation with the S&P 500 is decreasing
• Indicating it may outperform equities when risk-taking returns to the market

The upcoming Bitcoin halving, coupled with potential Fed easing, may trigger a significant price rise