Gm degens, this Digest brings to you a weekly curation of key updates & alpha from the cryptoverse.
It's time to dive into another wild week in the world of crypto! So grab your coffee, strap in, and let's go! ☕
Estimated reading time: 5 minutes
Here’s what’s inside…
1️⃣ Highlights from the Market 📈
2️⃣ Big Story of the Week ✨
3️⃣ Crypto Expert Takeaways 🎧
4️⃣ Crypto Twitter Roundup: Top 3 Threads 🔥
5️⃣ Trending NFTs: This Week's Standouts 🃏
1️⃣ Highlights from the Market 📈
State of the Market - Essential Updates You Need to Know
1. How the Top 10 Coins are Faring
Most coins in top 10 except are in the red over past 7 days
The one coin that’s flashing green? XRP!
Its XRP Ledger network has seen fundamental upgrades over the past few months - this could be a reason behind the rise.
Also, ADA is breakeven on the week
Source: Coingecko
2. The Crypto Fear/Greed Index
Currently in “Greed” territory
…But a bit less “greedy” compared to last week
The market is cooling off after the recent bullish surge
Source: Crypto Fear & Greed Index
3. Top Trending Category - DaoMaker Ecosystem
DAO Maker uses Social Mining and ubiquitous exposure to incubate projects, build a community, and convert members into valuable contributors to a DAO using the project's token.
The DAO Maker token itself is up 5% week-on-week. Leading tokens are XCAD and Gamium.
Gamium is up 34% on the week, possibly owing to the Didit Protocol update (uses Chatgpt - muh AI narrative), and a partnership with Ramp network
4. Funds Flow Summary: a Look Into the Big Boys’ Activity
TLDR; Digital assets saw net inflows after 6 weeks of net outflows
Inflows into digital asset investment products reached US$160m, the highest since July 2022, which is a significant improvement after six weeks of outflows totaling US$408m.
Bitcoin had the most significant inflow of US$128m and was considered a safe haven by some clients for the first time.
However, not everyone shared this view as short-bitcoin also saw inflows of US$31m.
Source: Coinshares
5. Trader Who Killed It This Week
A quick glance at a degen who’re sitting on top of the Binance Leaderboard
professional10years hit it out of the park with a 290% return on the week
Looking at their positions - there’s only one open position : GMXUSDT.
Why may they have picked this?
GMX had a proposal to deploy on Coinbase’s Base blockchain, which saw heavy support from the community.
The ARB airdrop brought renewed focus onto the Arbitrum ecosystem projects
Source: Binance Leaderboard
2️⃣ Cover Story: EtherMail - The Email Client for Crypto (And a Possible Airdrop?)
Here’s something you shouldn’t sleep on.
The Ethereum Name Service airdrop was worth around $10k for most.
We now have EtherMail - do not miss out on this one. Read on 🍿
What is EtherMail?
Ethermail : anoynymous, encrypted wallet-to-wallet communication
Are you tired of being bombarded by unwanted emails that invade your personal space? Well, Ethermail has got your back!
Ethermail is “reimagining email for web3”. It is the first email solution setting the standard for anonymous and encrypted wallet-to-wallet communication.
Tim Draper : From Hotmail to Ethermail
Earlier this month, they received a cool $4 million in funding from Tim Draper, the veteran venture investor who previously backed Hotmail. The round also included participation from MS&AD Ventures.
With this new funding, EtherMail plans to expand their team, their market, and expedite the rollout of their single sign-on solution and advertising marketplace solution.
Their previous funding round (seed round - $3 million) was led by Fabric Ventures and Greenfield One.
What's Ethermail's Secret Sauce, You Ask?
It's all about enabling encrypted wallet-to-wallet communication, where you, the user, will get rewarded for reading emails from companies.
EtherMail's paywall solution uses its EMT token to protect your inbox from unwanted emails and asks companies to pay for the right to invade them.
But that's not all - you can also get rewarded for sharing your interests and data with companies. EtherMail is all about giving you back the power and value of your attention.
And the best part? You don't have to switch to a new email platform. EtherMail is built on traditional email, so you can use your existing tools like Gmail and Thunderbird. Plus, they've already secured partnerships with NFT projects and web3 domain startup Unstoppable Domains.
How to Claim Some Tokens
📌 Coinmarketcap is showing EMT already - token coming soon? 🤔
Okay, here are the steps 👇️
Note that initially, all rewards will be given in EMC before the official token launch. These EMC rewards will then be converted to $EMT when it launches.
Head to https://ethermail.io/ and click on the button “Sign up for free!”
Connect and sign up using Metamask 🦊
Connect your backup email (i.e., your usual email such as gmail) to earn 200 EMC and click "Next."
Keep going until you see "Thor Protocol Activated." Click "Retrieve Encryption Keys" and approve. You’ll now have ~250 EMC tokens
To get more tokens, you can invite friends with the link you get on signing up. You can also complete IMAP configuration to get 500 EMC (check for an email from the project).
These tokens could be worth quite a bit once the token officially launches 🕶️
3️⃣ Crypto Expert Takeaways 🎧
Bite-sized alpha from an Illuminati Round Table chat
🐳 White Whale on Oracles, Interchain Arbitrage and Cosmos
In this Round Table, White Whale and Sen talk about their use of oracles and interchain protocols for reliable price feeds, as well as their favorite chains such as Ethereum and Cosmos.
In one of the segments, they answer our question “Regarding Oracles and Interchain What Do You Use for Reliable Price Feeds?”
• Sen says it depends on what you’re trying to do with the data. If you’re trying to do trade or arbitrage, you just query the blockchain directly because it’s the fastest way to get reliable price feeds.
• However, he also mentions that if you’re trying to build a smart contract for a lending platform as an example, then you require oracles.
• He says that at White Whale they look at the nodes, mem pool and go from there.
📑 Read the round table recap here
🎧️ Listen to our guests talk basics of arbitrage & interchain arbitrage 👇️
4️⃣ Crypto Twitter Roundup: Top 3 Threads
Essential CT news & alpha to catch up on
⚖️ An Attorney Weighs in on Binance vs CFTC
Allegations against Binance mostly relate to 2019-2020 VPN use and lack of KYC measures.
Majority of allegations are irrelevant since Binance implemented KYC measures in 2020.
Lawsuit is punitive and will likely result in sub-$100mm settlement.
No concrete allegations of market manipulation or AML violations.
Actual attorney here. Two cents:
Majority of general allegations relate to 2019-2020 activity centered on VPN use and lack of KYC measures.
Vast majority of these allegations are moot as of the 2020 KYC implementations at binance. https://t.co/YlMaYWLgkW
— Rocket (@RocketTrades9)
Mar 27, 2023
💰️ The Price of Innovation in Crypto
Innovation in crypto involves taking risks and facing regulatory challenges
Builders are driven by a desire for freedom in the digital realm, and they see regulations as corrupt.
The future of crypto requires uncompromising builders who can create a truly free and open decentralized finance system.
Deciding you want to innovate in crypto is deciding you're ok cutting out some of your entrails with a rusty saw 🪚
CZ launched Binance in 2017... took it from 0 to the world's largest exchange in 180 days
It was like crypto catapulted a decade into the future... 1/6
— redphone ☎️🧙🏻♂️ (@redphonecrypto)
Mar 28, 2023
🌙 Safu Investor, Altcoin Master or Degen Moonboy?
Multi Investor Personality theory suggests having 3 portfolio managers in your head that you allocate capital to based on market trends.
The three portfolio managers are Safu Investor for low-risk assets, Altcoin Master for mid-size cap narrative rotation, and Degen Moon Boy for speculating on launchpads and new projects.
The allocation of capital depends on the market trend, and it is a rotation of capital allocation.
Use tools like DefiLlama, CryptoFees.info, and social clues to "feel" market trends and switch gears accordingly.
Don't be blinded by what you are investing in, invest along with the market trend.
This Multi Investor Personality theory got me my first 300k in crypto before FTX rug me
Multi Investor Personality will improve ur investing 100x
And here's how you can do it. https://t.co/CvfJJIdFkF
— 2Lambroz.eth 🐑 (@2lambro)
Mar 27, 2023
5️⃣ Trending NFTs: This Week's Standouts
NFTs that are hotter than your altcoins
The following collections have been creating waves this week (Stats Source: https://www.nft-stats.com/)
1) Nakamigos
7-Day Volume : $10.5M | NFTs Sold over 7 days : 48k+
“20,000 unique crypto investors on the blockchain with commercial rights.”
Nakamigos holders are granted the same commercial rights as Yuga Labs provided for CryptoPunks.
2) The Dev's NFT
7-Day Volume : $1.66M | NFTs Sold over 7 days : 6k+
The Devs is a collection of 7770 unique Dev NFTs bringing honor back to the Ethereum blockchain. It features art by Emmy Award winning director Jake Ferguson.
By owning a Dev, holders will be granted early access to projects The Dev is devving. It will also act as an all-access pass to IRL events held by The Dev.
Do you think the BTC bear market bottom is oin? |