Gm, fam!

Glue has launched a secret site with access codes.
I got 3 such codes for my fam, each works 25 times.

They say that there’s some perk awaiting those who fill out the form :)

https://glue.net/secret-page/
Access code: SHga9q
Access code: nIFVHz
Access code: VNUOgu

This isn't the headline you want, but it's the scenario you must 𝗮𝗹𝘄𝗮𝘆𝘀 be prepared for.

The reality is that everyone now closely tracks US FED news to predict global crypto markets.

Global macro factors have always impacted Web3, but this is the first time I've seen the CT community monitor these changes so closely.

Or am I missing something?

PS: In case interested, here's the link to Galaxys podcast ↓
https://www.galaxy.com/insights/videos/winter-is-coming/

November 2022 vs. August 2024

• Bitcoin price: $15,800 → $61,600
• Bitcoin dominance: 38.7% → 56.2%
• Ethereum dominance: 16.8% → 15.2%
• Stablecoin dominance 17.3% → 7.4%
• Altcoin dominance 27.2% → 21.3%

Bitcoin maxis were right?

Next time a blogger hypes a secret strategy to turn you into a memecoin millionaire, keep in mind that:

• Most top PNL addresses are token deployers
• Only 3% of all Pumpdotfun traders earned more than $1K
• 0.8% have made over $10K
• More than 60% lost money

I'm now unfollowing and muting everyone who promises to teach you how to make millions overnight.

Posting this type of content = aiding and abetting fraud.

I recommend you do the same.

TON Open Interest has surged to $300M following Durov's arrest.

Even though Durov is not directly associated with TON management, the event has raised significant concerns about the future of Toncoin and the broader TON ecosystem.

The $TON price is down 17%.

Could be much worse, imo.

Conducted in-depth research on why I'm bullish about Mantle's ongoing incentive programs (COOK and FBTC).

In a stagnant market like the current one, these airdrops are a breath of fresh air.

Enjoy reading!

Always look beyond the narratives.

The map above shows DePIN projects and their respective chains.

While Solana has gained traction, prominent DePIN projects are increasingly adopting versatile base layer chains like Arbitrum and Polygon.

Looking ahead, specialized DePIN-focused chains such as IoTeX and Peaq, as well as other Layer 1 and Layer 2 networks incorporating artificial intelligence concepts (e.g., Near and Aptos), may also see growth opportunities as the DePIN sector expands.

Solana fees have dropped to a multi-month low.

The reason? The memecoin frenzy has finally cooled.

Hopefully, the next main narrative will be more ecological.

The total value of tokenized treasury assets has surpassed $2 billion, coinciding with the one-year anniversary of USDY on Ondo Finance.

RWA go brrrr.

TON continues to thrive with a TPS below 260, significantly lower than Solana's 1200 TPS.

Despite this, the TON Foundation has conducted tests claiming to achieve an impressive 104,000 TPS, a figure verified by the crypto auditing firm Certik.

Do you think TON will achieve this number?

Data source

In 2020, Ethereum shifted to an L2-centric roadmap.

Now, after Dencun, rollups account for 87% of all daily transactions.

However, this scaling solution has faced criticism because Ethereum's gas fees are at their lowest in years, making the ETH economy inflationary.

Furthermore, Ethereum’s recent underperformance against BTC and SOL has validated the critics' views.

Is Ethereum still a competitive and viable chain? Let’s find out.

Check my new Substack article and don’t forget to subscribe!

MakerDAO has rebranded to Sky.

Wtf? No, really.
Why is everyone rebranding now?
New September => New life?

Last week, ETFs saw their highest weekly inflows in the past five weeks.

Interest rate cuts are expected in September – the main catalyst of the market next week.

Just dropped a thread explaining the impact of Universal Liquidity on your Web3 grind experience.

A big thing it is, ngl.

You can read the thread here.

Interesting fact: PolitFi tokens (MAGA, TRUMP, etc.) outperformed average memecoin performance this year.

No idea if it’s helpful, but interesting (I don’t like & don’t trade memes).

Who said more research is needed?

General
➖ CoinGecko: 4 in 5 Spend Most Time on X, Telegram & YouTube for Crypto
➖ Galaxy: 150 Days After Dencun
➖ Galaxy: Ethereum All Core Developers Consensus Call #140 Writeup
➖ Galaxy: Weekly Top Stories - 8/23

Market
➖ Coinbase: Weekly: Deep Waters
➖ Glassnode: A Return to Equilibrium
➖ Galaxy: Unraveling Economic Indicators and Crypto Market Trends

Blockchains & networks
➖ 4pillars: What is the value of humans in the AI era? Humanity Protocol

Tokens & currencies
➖ CoinGecko: PolitiFi Coins Pumped 782.4% In 2024, Outperforming Meme Coins
➖ Binance: DOGS (DOGS)
➖ Binance: Eurite (EURI)

GameFi & NFTs
➖ Footprint: Introducing GalaChain: the Chain for Web3 Gaming and Entertainment

Nasdaq has filed with the SEC to list and trade Bitcoin index options.

If approved, these would be the first cryptocurrency derivatives cleared by the U.S. Options Clearing Corporation.

Here's a cheat sheet to understand the difference between futures and options, in case you still mix them up.

Due to recent outages in TON, the staking APR has dropped by over 100%.

These outages were caused by the $DOGS airdrop minting, which congested the network.

Oops, Opensea has received a Wells notice from the SEC.

Now they think that NFTs are securities. Source.

Sounds of facepalming.

Out of 4,335 protocols listed on DefiLlama:

✦ 161 generate $100K+ in monthly fees (3.71%)
✦ 64 generate $1M+ in fees (1.45%)
✦ 17 generate $10M+ in fees (0.39%)

96.29% of protocols make less than $100K in monthly fees.

An average team of 10 employees, plus operational expenses, costs around $50K per month, not to mention additional marketing budgets.

The conclusion? 9 out of 10 teams rely on subsidies (VCs, token sales) and fail to balance expenses with revenue.

With the decrease in VC capital deployment, if sentiment doesn't shift to alts, many protocols will significantly scale back their efforts in the coming months.

A sobering reality.