The U.S. Department of the Treasury Proposes New Crypto Tax Regulations: Crypto Trading Platforms Require the IRS to Report Total Transaction Income ~ WSJ
Imp Events for last Week Ahead 27Aug/01Sept | 2023
Project Updates & Launches
Jam: Launching "Friend App" using Farcaster and Lens Protocol exp this week.
HashKey: Virtual asset app for retail investors launching on Aug 28, with 30% investment cap.
OP Mainnet: Upgrade on Aug 29, with a 5-min downtime expected.
Chain Game: "Space Nation Online" Alpha testing on Aug 29.
Doodles x Crocs: Limited edition "holey" shoes at $120, releasing on Aug 29.
Farcaster: V3 version launch on Aug 29.
StarkWare: Releasing STARK Prover as open-source on Aug 31.
BNB Greenfield Testnet: Upgrading to v0.2.4 on Aug 31.
Yearn Community: Voting on "Wintermute YFI Loan and CRV Plan" ending Aug 31.
Bitstamp: Banning US trades in seven tokens including SOL and MATIC.
Project Updates
SpiritSwap: Risk of shutdown on Sept 1 due to depleted funds.
Sui: "Sui Move" HackerHouse event in Dali, Yunnan on Sept 3.
Token Unlocks
dYdX:
Aug 29, 23:00: 6.52M $DYDX ($14.41M, 3.76% of supply).
Optimism:
Aug 30, 12:00: 24.16M $OP ($35.03M, 3.37% of supply).
Nym:
Aug 31, 8:00: 25M $NYM ($3.46M, 4.73% of supply).
Hedera:
Sept 1, 8:00: 1.15B $HBAR ($67.23M, 3.48% of supply).
Acala:
Sept 1, 15:00: 27.43M $ACA ($1.24M, 3.43% of supply).
MACRO
Non-Farm Payrolls: Sept 1 estimate at 169K.
Project Updates & Launches
Jam: Launching "Friend App" using Farcaster and Lens Protocol exp this week.
HashKey: Virtual asset app for retail investors launching on Aug 28, with 30% investment cap.
OP Mainnet: Upgrade on Aug 29, with a 5-min downtime expected.
Chain Game: "Space Nation Online" Alpha testing on Aug 29.
Doodles x Crocs: Limited edition "holey" shoes at $120, releasing on Aug 29.
Farcaster: V3 version launch on Aug 29.
StarkWare: Releasing STARK Prover as open-source on Aug 31.
BNB Greenfield Testnet: Upgrading to v0.2.4 on Aug 31.
Yearn Community: Voting on "Wintermute YFI Loan and CRV Plan" ending Aug 31.
Bitstamp: Banning US trades in seven tokens including SOL and MATIC.
Project Updates
SpiritSwap: Risk of shutdown on Sept 1 due to depleted funds.
Sui: "Sui Move" HackerHouse event in Dali, Yunnan on Sept 3.
Token Unlocks
dYdX:
Aug 29, 23:00: 6.52M $DYDX ($14.41M, 3.76% of supply).
Optimism:
Aug 30, 12:00: 24.16M $OP ($35.03M, 3.37% of supply).
Nym:
Aug 31, 8:00: 25M $NYM ($3.46M, 4.73% of supply).
Hedera:
Sept 1, 8:00: 1.15B $HBAR ($67.23M, 3.48% of supply).
Acala:
Sept 1, 15:00: 27.43M $ACA ($1.24M, 3.43% of supply).
MACRO
Non-Farm Payrolls: Sept 1 estimate at 169K.
Approximately 5 hours earlier, the 1inch Team utilized $10 million in USDT and an additional $70,000 in USDC, to purchase roughly 6087 $ETH at a price of $1,660.
In another Move, Vitalik transferred 3k ETH, equivalent to around $4.95M, to a different wallet. Some are mistakenly interpreting this as a Sell, spreading FUD.
In another Move, Vitalik transferred 3k ETH, equivalent to around $4.95M, to a different wallet. Some are mistakenly interpreting this as a Sell, spreading FUD.
Following this Tiny $BLUR's Pump today, Wintermute Just moved 13.1 million $BLUR (valued at $2.92M) to two crypto exchanges:
- 8 million $BLUR ($1.78M) to OKX.
- 5.1 million $BLUR ($1.13M) to Kraken.
Both batches originate from the Blur team and investor unlocked allocations, being Dumped through Wintermute.
- 8 million $BLUR ($1.78M) to OKX.
- 5.1 million $BLUR ($1.13M) to Kraken.
Both batches originate from the Blur team and investor unlocked allocations, being Dumped through Wintermute.
Market is looking overly PVP with participants risking 1e to make .1e gain.
Makes for a very difficult micro/thin Volatile market to trade with.
Makes for a very difficult micro/thin Volatile market to trade with.
$MAGIC Holder accuses Treasure team of selling tokens at half price through OTC, causing MAGIC to plummet
https://twitter.com/cryptogle/status/1696417638296027223?s=20
https://twitter.com/cryptogle/status/1696417638296027223?s=20
X (formerly Twitter)
ogle (@cryptogle) on X
1) I'm a $magic whale, former maxi, and I'm selling all of my bags and opening shorts. here's why-
tl;dr-
1) @treasure_dao team selling their magic (50% off spot!)
2) whales dumping
3) team lies to investors
4) probably going to $0
(told to my friend tech…
tl;dr-
1) @treasure_dao team selling their magic (50% off spot!)
2) whales dumping
3) team lies to investors
4) probably going to $0
(told to my friend tech…
Classic Grayscale/General news Action:
> Insider Buy first
> editorial Staff ex; DB/tree/etc Buys 2nd
> People who see first buys (3rd)
> people who are first to spread news (4rth)
> RETAILS (at the end) buys and provides liq
(be early or never be exit liq)
> Insider Buy first
> editorial Staff ex; DB/tree/etc Buys 2nd
> People who see first buys (3rd)
> people who are first to spread news (4rth)
> RETAILS (at the end) buys and provides liq
(be early or never be exit liq)
People familiar with the matter: Robinhood has ended its crypto partnership with Jump Trading
Source: Coindesk
Source: Coindesk
Alpha
DWF Bought $CYBER yesterday $750k worth from Binance.
$CYBER $8 now (ATH) DWF bought around $4 cartl
The $DYDX yesterday had unlocks of $6.18 for trading rewards, $2.47 for liquidity provider rewards, and $5.36 for treasury rewards.
Rewards typically create selling pressure on the price. [If not being handled with counter strategies]
Overall, the real pressure from unlocks hasn't started yet. Since these unlocks are vested linearly, the real spikes in unlocks are expected by the end of 2023. At that time, investors, employees, and even [future employees]' tokens will start being Load-off on the market, leading to further price volatility. For now it's a Short Opportunity with a Invalidation above previous High spike.!
Tokens should be a means to an end, not the end itself. Over-reliance on rewards can overshadow the true utility and potential of a platform.
Rewards typically create selling pressure on the price. [If not being handled with counter strategies]
Overall, the real pressure from unlocks hasn't started yet. Since these unlocks are vested linearly, the real spikes in unlocks are expected by the end of 2023. At that time, investors, employees, and even [future employees]' tokens will start being Load-off on the market, leading to further price volatility. For now it's a Short Opportunity with a Invalidation above previous High spike.!
Tokens should be a means to an end, not the end itself. Over-reliance on rewards can overshadow the true utility and potential of a platform.
Alpha
The $DYDX yesterday had unlocks of $6.18 for trading rewards, $2.47 for liquidity provider rewards, and $5.36 for treasury rewards. Rewards typically create selling pressure on the price. [If not being handled with counter strategies] Overall, the real pressure…
7% of total Supply is reserved for [Future Employees & Consultants] based Team.