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UPDATE ON BITCOIN MINERS

This thread lays out why Bitcoin miners might be in for some short-term pain, predicting reduced revenues and profitability due to the upcoming halving.

SOLANA MOBILE TO SELL SECOND CRYPTO SMARTPHONE: SOURCE

Solana is reportedly planning on releasing a second generation of its cryptonative mobile phone according to an individual familiar with the matter.

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SCARAMUCCI SAYS GRAYSCALE ETF SALES HELPED FUEL BITCOIN DECLINE

According to SkyBridge Capital founder Anthony Scaramucci, Bitcoin’s sell-off after the much-anticipated Spot Bitcoin ETFs started trading is partially due to sales of Grayscale Bitcoin Trust shares. Investors are reportedly selling to book losses and shift to lower-fee alternatives. Cryptocurrency exchange FTX's bankruptcy estate is apparently also unloading, contributing further downward pressure on Bitcoin.

BLACKROCK CEO LARRY FINK BACKS ETHER ETF

A day after the successful launch of BlackRock’s Bitcoin ETF, its CEO Larry Fink went on CNBC to tout the value of both Bitcoin and Ethereum ETFs. Fink foresees a world in which assets are increasingly tokenized and views Bitcoin and Ethereum ETFs as steps toward that vision. He also classified cryptocurrencies not as currencies, but as asset classes that can provide protection against geopolitical risk and can help fight against corruption and money laundering.

ASTARIA V1 LENDING & INTENTS

This whitepaper gives an overview of Astaria v1, a new lending protocol built on the Starport lending kernel. Astaria provides fixed-rate, open-term lending that optimizes rate and loan-to-value for borrowers and reduces liveness requirements for lenders. The protocol, which accepts a variety of collateral assets, introduces recall intents by any party. Loans have no end date and continue until recalled by replacing the original lender or impairing the loan and seizing collateral.

INJECTIVE ROLLS OUT VOLAN UPGRADE FOCUSED ON REAL-WORLD ASSETS AND CONNECTIVITY WITH COSMOS CHAINS

Injective, a Cosmos-based blockchain, has launched a mainnet upgrade, Volan, adding support for software regarding real-world assets. This upgrade aims to enable users to access products like tokenized fiat currency pairs, treasury bills, and exclusive credit-based products. Volan improves inter-blockchain communication within the Cosmos ecosystem, making complex cross-chain transactions smoother. Another key component of the upgrade includes INJ, Injective's native token, becoming increasingly deflationary over time.

THE BERACHAIN THESIS

This thread lays out the thesis on Berachain, focusing on its combination of technology, culture, and product-market fit. The EVM-compatible L1 blockchain platform utilizes the Polaris for attack protection and fluent execution. It also features an accessible development kit and IBC bridging. Berachain has already built an early culture of creativity and has its roots in NFTs, while also appealing to dapp developers for its liquidity capabilities and user base.

QUICK SUI AIRDROP FARMING GUIDE

Sui has been outperforming lately, drawing attention to the ecosystem. This thread provides a quick guide to interacting throughout the Sui ecosystem to potentially qualify for various airdrops. Several audited protocols such as Navi Protocol, Scallop, Aftermath Finance, KriyaDEX, and Turbos Finance are suggested for lending or providing liquidity. Other opportunities include purchasing a .sui domain or exploring ABEx Finance and Typus Finance.

FROM CRYPTO-NATIVE TO CRYPTO-ENABLED

This article calls for 2024 to be a year of mainstream "crypto-enabled" apps that utilize blockchain tech in the background, rather than focusing on it. The writer differentiates these from current "crypto-native" apps, which mainly focus on experimenting with crypto features. Enabled by recent advancements in scaling, security, and user experience, these new apps could revolutionize traditional digital experiences by integrating benefits of crypto into them.

WE ANALYZED 5000 TOKEN UNLOCKS – THIS IS WHAT WE FOUND

This article was resurfaced recently and provides a summary of a report that analyzed over 5,000 token unlock events to determine what effects they might have on token prices. The report looked at factors such as where tokens were in their vesting periods, how big the token unlocks were relative to supply, and more.

HOW CASH-CREATE SPOT ETFS WORK

With the recent launch of the much-anticipated Spot Bitcoin ETFs, many were left wondering what exactly cash-create means as it relates to ETFs. This post explains the concept in a straightforward manner.

NARRATIVES MEGA THREAD

This thread goes over some of the most popular current narratives in the market like AI, RWA, memecoins, Bitcoin dapps, GameFi, DePIN, and NFT finance.

VANGUARD TO PULL BITCOIN FUTURES FROM ITS PLATFORM

Vanguard reinforced its no-crypto stance on Friday, withdrawing options from its platform for Bitcoin ETFs and futures, emphasizing long-term traditional investing over speculative digital assets.

SEC COMMENTS ON HACK OF ITS X ACCOUNT AND RESULTING FAKE BITCOIN ETF APPROVAL ANNOUNCEMENT

After the fake Bitcoin ETF approval announcement from the SEC’s X account caused extreme volatility across the entire crypto landscape, many TradFi and crypto investors alike demanded answers. The SEC went on to make some preliminary comments about the situation.

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STABLECOIN ISSUER CIRCLE FILES FOR IPO

Circle Internet Financial, the issuer of the USDC stablecoin, has filed a confidential draft S-1 document with the SEC for an initial public offering. The number of shares to be offered and the price range for the proposed offering have not yet been determined. USDC is the second-largest stablecoin, with a market cap of about $25 billion. Circle's initial public offering is expected to take place after the review process, subject to market and other conditions.

BITCOIN ETFS DO $4.5 BILLION IN VOLUME ON DAY ONE OF TRADING

The first day of trading for the newly launched spot Bitcoin ETFs exceeded expectations. The new funds managed to clear a total volume of $4.5 billion, indicating strong interest from Wall Street investors. Key players like BlackRock's iShares Bitcoin Trust and Grayscale's Bitcoin Trust contributed significantly. BlackRock accounted for 22% of the total volume and Grayscale hit a record high daily volume.

BERACHAIN OPENS LAYER-1 TESTNET

Berachain, an upcoming layer 1 blockchain in the Cosmos ecosystem, has opened its public testnet. The testnet introduces a unique "proof of liquidity" consensus mechanism, which involves securing the network through ecosystem participants that provide liquidity to its trading infrastructure. Liquidity providers will be rewarded with tokens. Berachain's developers plan for the tokens to have some economic value.

BITFINITY AIMS TO ENHANCE BITCOIN ORDINALS WITH AN EVM ON ICP

Bitfinity, a new developer in the Ordinal Inscription protocol ecosystem, aims to integrate its Ethereum Virtual Machine with Bitcoin to support Bitcoin-enabled DeFi services using a sidechain on the Internet Computer. It has raised $7 million in funding to achieve this goal. Bitfinity's EVM opens up the Bitcoin ecosystem to novel use cases and applications. The company's future Bitcoin plans include adding BRC-20 tokens to its protocol, which will allow users to create meme-coins on the Bitcoin network.

STATE OF SOLANA Q4 2023

A complete breakdown of Solana with everything from key metrics to the roadmap to the Solana ecosystem. Solana sustained quarter-on-quarter growth across many metrics in Q4. The Solana Foundation's annual Breakpoint conference, JTO's airdrop, and BONK's Coinbase listing helped drive growth. Catalysts for this year include Jupiter's airdrop, token extensions, and continued progress on Firedancer and TinyDancer.

PLAYBOOK TO MAXIMIZE YOUR PROFITS

Timeless tips on how to maximize your profits this bull run. This thread covers portfolio strategies, narrative selection, and bull market frameworks. A portfolio should consist of long-term investments, stablecoins, and a focus on three narratives. Traders may go through multiple narratives throughout the cycle to maximize profits.

BITCOIN ETFS STIR OPTIMISM, AMBIVALENCE, AND DREAD AMONG CRYPTO’S STAUNCHEST SUPPORTERS

The U.S. SEC's approval of bitcoin spot ETFs represents a significant merging of traditional finance and cryptocurrency, potentially transforming both sectors. While simplifying Bitcoin investment for mainstream audiences, this move raises concerns among crypto purists about centralization and deviation from Bitcoin's original decentralizing ethos. However, it's also seen as an essential step for the crypto's growth and wider acceptance.

VITALIK BUTERIN ENDORSES RAISING ETHEREUM GAS LIMIT BY 33% TO IMPROVE NETWORK CAPACITY

Ethereum co-founder Vitalik Buterin has endorsed a proposal for a 33.3% increase in the Ethereum block gas limit from 30 million to 40 million units, a change that could enhance the network's capacity for processing transactions and executing smart contracts. The proposal aims to improve network efficiency without necessitating a hard fork, despite potential operational cost increases for nodes, as it can be implemented through validators adjusting their node configurations.

VANGUARD BLOCKS CLIENTS FROM BUYING BITCOIN ETFS

THIS WEEK ON-CHAIN

A breakdown of this week’s most important on-chain metrics.

IS INDIA DONE WITH CRYPTO?

Once-enthusiastic Indian venture capitalists are now retreating from the crypto sector, influenced by stringent regulations by the Reserve Bank of India. This shift, further impacted by restrictive tax policies and actions like Apple delisting crypto apps, marks a significant downturn in India's previously burgeoning web3 and digital assets landscape.

FRANKLIN TEMPLETON HAS LASER EYES

Investment firm Franklin Templeton has changed its X profile picture to one with laser eyes.

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SPOT BITCOIN ETF RECEIVES OFFICIAL APPROVAL FROM THE SEC

The U.S. Securities and Exchange Commission has approved the nation's first regulated spot Bitcoin ETFs, allowing investors to gain direct exposure to Bitcoin's price without owning the cryptocurrency. Applications from 21Shares, Invesco Galaxy, VanEck, WisdomTree, Fidelity, Valkyrie, BlackRock, Grayscale, Bitwise, Hashdex, and Franklin Templeton were approved and now can be listed and traded on exchanges. The SEC has consistently denied all bitcoin ETF requests in the past, but it was forced to revisit its position after Grayscale won a court case in 2023 that overturned its denial of an application.

WHY ARE BITCOIN ETFS SUCH A BIG DEAL? GOLD PROVIDES A $100 BILLION ANSWER

Bitcoin ETFs have sparked enthusiasm among investors. While there's uncertainty about whether Bitcoin ETFs will match the impact of gold ETFs, analysts predict substantial capital inflows and market growth, potentially reshaping the cryptocurrency industry and integrating it more closely with traditional finance. Gold ETFs transformed the gold market when they were introduced two decades ago, sparking a huge rally in gold's price.

CLEARPOOL INTRODUCES CREDIT VAULTS

Clearpool has introduced Credit Vaults, an innovative product in DeFi private credit and real-world asset lending. Credit Vaults allow borrowers to set their own parameters, like interest rates and repayment schedules, attracting a wider range of lenders and borrower types, including non-crypto firms. Credit Vaults promise higher lending APRs, increased lending volume, and greater protocol revenue, marking a significant evolution in Clearpool's ecosystem.

INTRODUCING KHALANI: THE DECENTRALIZED SOLVER INFRASTRUCTURE

Khalani Network introduced a decentralized platform that shifts the Web3 user experience from transaction-based to intent-driven interactions, where users express desired outcomes and specialized agents execute these intents. This innovative approach, supported by a modular architecture including the Intent Compatibility Layer and Validity VM, aims to enhance expressiveness and efficiency in the Web3 ecosystem.

GUIDE TO STARKNET AIRDROPS

A guide to farming 8 different Starknet protocols for airdrops. 5 of the protocols already have point programs and are highly likely to do an airdrop. The guide covers how to create a wallet and bridge ETH into Starknet. The protocols include Nostra, Fibrous, ZKX, and Avnu.

A DEEP DIVE INTO DEPIN

A detailed look into the Decentralized Physical Infrastructure Network (DePIN) space, with specifics on the different categories of DePIN and why it is such an intriguing investment opportunity. The core idea of DePIN is to build a collective decentralized network of connected physical devices from the ground up. The current market cap of DePIN projects is around $32 billion. The DePIN sector offers many opportunities for builders and investors.

CAPITAL AND ENCLOSURE IN SOFTWARE COMMONS: LINUX AND ETHEREUM

Using examples like Linux and Ethereum, this article explores the dynamics of software commons, including the production processes, constraints, peer roles, and the challenges of private capital influence. It highlights the delicate balance between communal and private interests in these ecosystems. Entities that extract profits from software commons have the greatest incentive and capacity to co-opt them. While it is possible for the people who wield capital to exercise restraint, their underlying motivations will always eventually surface.

OUT, DAMNED SPOT! OUT, I SAY!

Some thoughts on the spot Bitcoin ETF approval from SEC Commissioner Hester Pierce, with criticisms toward the SEC for taking so long to reach this moment. It took over 10 years for Bitcoin ETFs to be approved, but if the SEC had applied the standards it uses for other commodity-based exchange-traded products, it could have approved them years ago. The approval opens a path for other spot crypto ETF approvals.

APPLE PULLS CRYPTO APPS FROM INDIA APP STORE

Apple has pulled apps of at least nine crypto exchanges, including Binance and Kraken, from its App Store in India less than two weeks after most of these global firms were flagged for operating “illegally” in the country.

BASE RELEASES THEIR 2024 ROADMAP

The 2024 mission, strategy, and roadmap for Coinbase’s Base blockchain.

X REMOVES SUPPORT FOR NFT PROFILE PICTURES

X silently removed the ability for paid subscribers to set NFTs as their profile pictures.

RIPPE IS INITIATING A $285 MILLION SHARE BUYBACK

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SEC’S X ACCOUNT COMPROMISED TO POST FAKE SPOT BITCOIN ETF APPROVAL

The Securities and Exchange Commission's Twitter account was hacked, resulting in a false announcement about the approval of spot Bitcoin ETF. SEC Chair Gary Gensler confirmed the account was compromised and the tweet was unauthorized. This was one of the most high-profile examples of an X account being compromised in relation to cryptocurrency. Despite the fake approval, it is widely expected that spot bitcoin ETFs will be approved today, with trading to begin tomorrow.

BITCOIN FUTURES OPEN INTEREST ON CME HITS ALL-TIME HIGH

The open interest in Bitcoin futures on the Chicago Mercantile Exchange (CME) has hit a record high of $5.4 billion, surpassing the previous all-time high of $4.5 billion set in November 2021, indicating a significant increase in institutional investor participation. This surge in futures trading, coupled with high open interest from both asset managers and hedge funds, suggests heightened market activity and anticipation of potential Bitcoin ETF approvals.

FOX, POLYGON RELEASE BLOCKCHAIN-POWERED TOOL TO WEED OUT DEEPFAKES

Fox Corp., the parent company of Fox News, has launched Verify, an open-source protocol developed on Polygon's proof-of-stake blockchain. Verify is designed to authenticate original media content and combat AI-generated deepfakes. The tool allows publishers to register and cryptographically sign their content onchain, enabling consumers to easily identify and verify content from trusted sources.

XAI AIRDROP ON ARBITRUM PUTS $70M INTO GAMERS’ WALLETS

The Xai gaming network, built as a "layer-3" network on Arbitrum, has started its first major token airdrop. It will distribute 125 million XAI tokens to eligible participants, including certain NFT owners and Sentry Node operators. The airdrop's total value currently sits at nearly $70 million. XAI's market cap stands at just over $154 million, with over 277 million tokens in circulation, including those from the airdrop.

THE DEFI DEGEN’S PLAYBOOK FOR STACKS

An introduction to the top actions, protocols, and catalysts for growth for the Bitcoin L2 Stacks. It covers wallets, exchanges, staking services, tokens, upcoming protocols, NFTs, and much more. The thread analyzes opportunities for Stacks, making the prediction that Stacks will likely be a major player in BTCfi. It also provides several X accounts for people to follow to stay up-to-date on Stacks' developments.

AIRDROP PLAYBOOK FOR RESTAKING PROTOCOLS

A playbook for landing airdrops for top restaking protocols EtherFi, Kelp, and Renzo. It may be better to spread wallets across several projects as often the rules for airdrop eligibility favor smaller capitals. Always prefer to deposit slightly more than a round number, for example, deposit 1.1 ETH instead of 1 ETH. Readers should be aware that gas fees may sometimes be excessive as the airdrops are on the Ethereum network.

BETTING ON 7 DEADLY SINS

This article explores SocialFi, an emerging trend that merges social media with financial speculation, transforming user engagement and content monetization. It highlights innovative platforms like SAX and AlphaClub, which introduce new user roles and economic models with the aim of enhancing content quality and reshaping traditional social media dynamics.

CONSUMER CRYPTO’S BREAKOUT CYCLE

This article discusses the cyclical relationship between apps and infrastructure in the evolution of crypto, highlighting how innovations like Bitcoin and Ethereum have successively spurred the development of new applications and supporting infrastructures. Currently, the focus is on creating a sophisticated crypto app infrastructure, including low-fee blockchains and embedded wallets, to pave the way for the next wave of consumer-oriented crypto applications in various domains.