š Market commentary.
GM bulls.Ā
Whatās Bitcoin doing on this fine Thursday? Well, nothing much, really. The chop continues, and I doubt even Trump morphing into a full-blown crypto shill during tonight's debate can shake things up. But things like BODEN and MAGA coins? Different storyā¦
In other news, the USA joined Germany in the Bitcoin FUD campaign yesterday, sending around $240 million worth of BTC to Coinbase Prime. Letās look at Bitcoinās daily volume, shall we? Oh, itās almost $17 billion, with Coinbase eating about $718 million of that pie. Let them sell and buy back higher later, I say.
Aside from these pathetic FUD attempts, weāre seeing some solid pro-crypto moves in the good ol' US of A: George Lamiter defeated anti-crypto congressman Jamaal Bowman in the New York primary with huge support by Crypto PACs, Floridaās representative Matt Gaetz proposed a bill to allow federal tax payments in BTC while touting inspiration from El Salvador, all the while we can look forward to seeing Trump speaking at Bitcoin 2024 conference, which will take place in Nashville, July 24th and finally, Coinbase announces seuing SEC just now.
Crypto is front and center in the US political debate, and itās not going anywhere at least until the election cycle wraps up.
š Lukeās Chart of the Day
MKR/USDT Binance 1W Log Chart
This is a really good-looking weekly setup on MakerDAO. The 1D chart looks great, too, with a juicy RSI bull diversion. We have had a healthy pullback on a big run from the $500 bottom a year ago up to the $4k top in late March. This is probably the bluest of OG Defi blue chips.
Thereās a beautiful retest of the cloud and kijun support level at $2,250. Thereās lots of volume coming in now and a big weekly reversal candle in the making. Good support on Twitter as well.
I picked this up in the latest Cold Blooded Shiller stream. He is long spot, which makes sense as this could be a slow-burner run to the upside. Local highs are at $4k, and ATH is at $6k.Ā
Come by the Lucky Luke Discord channel for comments, to roast my picks or to pump your own bags. All banter is welcome any time!
š„ Degen corner.
Actions & Blinks: The Future of Onboarding?
How do we achieve mass user onboarding? Itās not going smoothly when users must jump through endless hoops just to reach our magic internet money ecosystem.
Here come the Solana Actions & Blinks, also known simply as blockchain links. The team of developers from Dialect managed to break the barrier, and now, developers and users will be able to share blockchain links anywhere users already are: on websites and social media.Ā
Using Blinks, we can now abstract onchain transactions and process them into a simple link. The user clicks the link, and it automatically sets up the desired onchain action, such as a donation transaction or a prediction market bet.Ā
Worried about dangers like phishing? Curious about how it all works? Dive into this fresh research from Captain Grant.
š DeFi insights.
The important bits.
Fantom (L1) - Reveals the S token airdrop details - read
Optimism (L2) - Announces DeFi Super Fest - read
Avantis (DeFi) - 34% stablecoin yield now available (+ XP rewards) - read
Wasabi Protocol (Blast DeFi) - Earn 5x points by depositing Blast airdrop - read
DeFi Saver (DeFi automation) - Morpho Labs automation now available - read
Mantle (L2) - Featured in Delphi Digital research - read
Mask Network (L1) - Joins the GIV-Earth round - read
Kodiak (Berachain DEX) - Partners with Beraborrow - read
š° DeFi news.
Even more important bits.
Coinbase sues SEC, FDIC for stonewalling information - read
Crypto miner Marathon ventures into Kaspa Mining - read
South Korean crypto VC Hashed expands to Abu Dhabi - read
Crypto losses due to hacks and scams rise to $573 million in Q2 - read
JPMorgan says Mt. Gox creditors likely to sell part of bitcoin receivables next month - read
š« ICYMI.
Life gets busy so hereās what youāve missed.
The AI Agent Ecosystem
Research
A special feast for all Meal Deal subscribers incoming from the legend himself, 563DeFi. Dig in.
š„ Tweet of the day.
To save you doom scrolling.
CryptoCondomās outlook on the ETH ETF is worth reading. Ethereum could absolutely take over the crypto mindshare (and price action) if the thesis holds.
šø Meme of the day.
Yep, Wes got the point here; mog literally broke the algorithm the past few days. Sound onā¦
š¦ And finallyā¦
Blast airdrop was a bit of a disappointment, wasnāt it? Let us know how it went for you in the comments, but right now, as the third quarter nears, Iām personally looking forward the most to the release of Berachain. This one is a biggie, and as far as Berachain NFT holders go (possibly even the testnet users), this L1 airdrop most likely shouldnāt disappoint.Ā
Today, Iām listening to a new Flywheel DeFi podcast that is breaking down the innovative Proof of Liquidity consensus. I canāt wait for this one.
stay safe homies,
Hix0n š«”
If you havenāt alreadyā¦ hit the subscribe button and get the coolest welcome email in crypto!
Blast is a joke.