Daily Bullets 💊: Will September Bearish Historical Performance Repeat?
💊 M6 Daily Bullets 💊 Thursday, September 1st
Bitcorn is unable to hold the 20k level - merp. ETH is flirting with losing $1500. It’s a new month and September has been a historically bad performing month for crypto. What can we expect this month?
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⛓ Crypto News:
- District of Columbia suing MicroStrategy founder Michael Saylor for tax fraud. Alleges Saylor, MicroStrategy evaded over $25M in taxes
- Attorney Kyle Roche has withdrawn from several class action including Tether, Bitfinex, TRON and BitMEX in the wake of his recent scandal involving Ava Labs
- Mt. Gox trustee releases repayment procedures update. Creditors have until September 15 to submit claims regarding funds lost. Timeline of repayments has not been finalized yet
- Crypto exchange Crypto.com has backed out of a five-year sponsorship deal worth $495M with the UEFA Champions League, European soccer's elite competition
- Hardware wallet Trezor is moving to enable direct crypto purchases with a new partnership with the crypto fintech startup MoonPay
- LG Electronics has announced the launch of its first crypto wallet application
- Trading volumes in bitcoin futures hit a 21-month low and fell below $1T in August while ETH volume surged ahead of The Merge
- John Linden, CEO of gaming technology company Mythical Games, said they're testing an "adjacent" blockchain that will be compatible with the Ethereum blockchain
- Ethereum-based asset management protocol Babylon Finance will fully close in November after failing to recover from the impact of April’s $80M exploit on Rari Capital
- California Governor is set to sign a recently passed bill that would require digital asset exchanges and other crypto companies to obtain a license to operate in the state
- Crypto mining malware has been sneakily invading hundreds of thousands of computers around the world since 2019 forcing them to unknowingly mine Monero, often masquerading as legitimate programs such as Google Translate
- Crypto derivatives exchange Bybit has partnered with stablecoin issuer Circle Internet Financial to expand its suite of spot trading pairs denominated in USDC
- Federal prosecutors asked Binance for voluntary access to Changpeng Zhao’s communications as part of its investigation into the exchange’s anti-money laundering checks
- Indonesia's government plans to establish a "crypto stock" exchange by the end of 2022
- Securities and Exchange Commission regulators may move to protect investors from traders who distort the NFT market with manipulative trades such as wash trading
- Arbitrum Nitro migration is complete, on-chain activity has resumed
- Socios and the AFA soccer deal will build a gamified, web3-ready, engagement and rewards community for Argentine fans, which will be built on the Chiliz blockchain
- 1inch announces 300,000 OP token airdrop for users who made swaps via the 1inch wallet on Optimism
- Solved, after much speculation, the wallet holding more than 22 billion of Axie Infinity’s total supply of Smooth Love Potion has been identified as an address belonging to Binance
- A partnership between the Colombian government and Ripple Labs to put land titles on the blockchain appears to have stalled following the project being “deprioritized” by the new administration
- Nomad list of white hat addresses in open-source hack data repository
- 1,000,000 $USN incentive program to support the growth of $NEAR and $AURORA DeFi
- DexGuru summer 2022 product updates
- zkSync 2.0 update: dynamic fees milestone completed
- Solidly upgrade
- Takepile launch - a decentralized perpetual exchange on the Fantom network offering up to 200x leverage
- Orca Protocol is now Metropolis and opening pod beta access to select DAOs
- Introducing Aries Markets - borrowing, lending and margin trading all in one platform
- Native Launch of USDS, a Harmony protocol native stablecoin
What’s your take on today’s news? Anything interesting that you have to say about these stories? Did we miss anything that should’ve been included?
📊 Data:
Nansen Smart Money Holdings Token Inflow and Outflows: Tracking what the whales are up to on the daily and weekly level...
TL;DR: On the daily: a small amount of money is flowing into ETH and BTC, while most of it is flowing out of USDC. On the weekly: money is mostly flowing into ETH, BTC and then stables and mostly flowing out of MKR, COMP, and other alts. New flavor of the day NFTs look like RTFKT Clone X Forging SZN 1 and Sneaks of Nature
- Inflow (1D): WETH ($4.4M), WBTC ($4.2M), MXC ($3.6M), SNX ($3.4M), BETA ($2.4M)
- Outflow (1D): USDC ($47.3M), cbETH ($970k), CRV ($614k), DYDX ($186k), RLY (163k)
Weekly:
- Inflow (7D): WETH ($25.6M), WBTC ($25.3M), cETH ($24.9M), USDT ($12.7M), USDC ($10.7M)
- Outflow (7D): MKR ($4.3M), COMP ($3.5M), MATIC ($1.9M), AAVE ($1.5M), STG ($1.2M)
- Nansen NFT Hot Contracts:
- RTFKT Clone X Forging SZN 1: 960 ETH
- BAYC: 952 ETH
- Sneaks of Nature: 799 ETH
- Lasogette NFT: 490 ETH
- DigiDaigaku: 374 ETH
What is the Data telling you? See anything that sticks out to you?
🎓 Research:
- Billions are spent marketing crypto to sports fans — Is it worth it? - source
- Navigating Web3 Compensation: A Framework Report - source
- The Decentralized Identity Revolution: How our digital identities will be built on web3 - source
- Interview With Top-Ranked Debank Whale @bizyugo - source
- Top Narratives & Catalysts to Watch - source
- A deep dive into the formulas, visualizations, and SQL you need to accurately measure and report on cohort retention - source
- Overview of LUSD's pegging mechanisms - source
Have you seen our institutional-quality research?
🖼 NFTs/Metaverse News:
- OpenSea plans to only support NFTs based on the proof-of-stake version of the Ethereum blockchain once The Merge is complete
- Unstoppable Domains, which provides NFT-based domain names for crypto wallets and websites, launches encrypted email service, Unstoppable Email, in partnership with Web3 workspace Skiff
- Swiss crypto bank and asset manager Sygnum will open a hub in Decentraland complete with a CryptoPunk receptionist, NFT gallery and event space
- ConsenSys to launch one of the first green NFTs on Ethereum mainnet
- Beer With Bill Murray’ NFT sells for $185K on Coinbase's NFT marketplace in a bidding war for a Charity Auction
- Luxury brand Hermès is laying the groundwork for its entrance to Web3 after filing a trademark application covering NFTs, cryptocurrencies and the Metaverse
- The NFT trading volume of OpenSea has shown a decrease of almost 99% from its record high of $405M on May 1 to $5M in NFT transactions on Aug. 28
- a16z crypto wants to fix NFT copyright confusion through new “Can’t Be Evil” licenses that make it explicit what an NFT holder can and can't do with their NFT
🌍 Crypto Twitterverse:
What’s your take on these twitter takes?
📈 Fundraises:
- Silence Laboratories, a Web3-centered cybersecurity startup based in Singapore, has raised $1.7M in a seed round led by Pi Ventures
Did we miss anything or is there anything you want to discuss? We’d Love to hear your feedback and engage with the community! Feel free to leave a comment and let us know your thoughts on the Crypto market!
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