🗞 Market commentary.
GM you legend and welcome back!
Before we get stuck into the fundamentally important topics of the week, just give us a sec for a quick update from us at blocmates.
Two BIG announcements… If you’ve noticed, we’re back to using Substack, awesome… TLDR… new format, original platform, same blocmates vibe.
Ohhh and Quest for LARP 3… it’s about to launch… maybe it’s hidden in a code in the newsletter below.
One of the big stories flooding Twitter this week has been Arkham Intelligence, the on-chain data provider as they announced a token airdrop along with the Intelligence Exchange where users can buy and sell information on the owner of any wallet address.
In an industry of public anonymity on the blockchain, having a referral campaign that can be reverse-engineered to reveal somewhat private email addresses of sign-ups is a bad bad look. Theoretically, they could connect an email address to your anon Twitter life, which begs the question… is Arkham secretly run by the feds?
With a move like this, Arkham, imo, has gone from a platform that had huge on-chain potential to a complete sell-out. A token is not needed and nor is the army of Twitter’s most questionable “influencers” with some of the most shady reps for dumping on their communities.
In the name of transparency, Arkham CEO Miguel has made his Arkham wallet address publicly available.
In other market news, $COIN goes on a monster run from the recent lows whilst Coinbase’s biggest bull, Cathie Woods, makes haste to part ways with her bags.
Plus No Fugazi, Zucks trains with UFC superstars Israel Adesanya & Alex Volankovski as he prepares to take Musk’s physical pride after META launched Instagram threads.
Im long Zucks right now.
🤓 In today’s email.
The big story. Coinbase wins, you just don’t know it yet
DeFi insights. AlgoFi closes, GMX V2 Proposal & PepperDEX… soon
ICYMI. GM degen podcast: Crypto degeneracy 🤝 online gambling
Top tweets. RabbitX… Rollbit perps?!
And finally. $BTC’s next big move
🔥 The big story.
🏆 Coinbase wins, you just don’t know it yet
In the battle of the baldies, Brian has been preparing Coinbase to win the next bull run in spectacular fashion. CZ will need to play any trump cards he has up his sleeve to keep the lead.
It’s true that Jim Cramer did “kiss of death” curse the $COIN stock as it free fell from its IPO listing. Normally you’d think that it would be over as most degen coins, once they pump and dump, never return.
However, keeping an eye on the Coinbase ecosystem might be one of the smartest plays we make this year.
Think about it, Coinbase has the largest spot trading customer base in the USA, they’re building a perps exchange overseas and have placed many fingers in many tactical pies.
Coinbase has 3 very important pies they’ve stuck their fingers in:
Base will allow Coinbase to keep its users streamlined in its very own ecosystem and I’m sure that bridging from Coinbase to Base will be smoother than the first time you used UniSwap.
Ethereum Cancun will be a bullish catalyst because Coinbase devs are helping the Ethereum devs update the network. Coinbase will be a beneficiary of any improvements to Ethereum and its network. After all, Coinbase has the second-largest stack of staked Ethereum generating huge yearly rewards.
The BTC ETF as Coinbase has been approved by the CBOE on 5 spot BTC ETF applications under a “surveillance-sharing agreement.” An agreement that the SEC requires to prevent market manipulation… ironic really.
As Coinbase ticks off each part of its roadmap this year it’s getting hard to fade Brian and his many pies, as the Coinbase funnel creates an almost cult-like community from centralised exchange normies to on-chain degenerate apes.
And anyway, do you really trust a bald guy that missed 2 spots?
👀 DeFi insights.
The important bits.
AlgoFi – Algorands largest borrowing and lending platform, controlling 55% of the networks TVL will be shutting down – Read
Fuji Finance – Deep dive into what’s coming in V2, Himalayas – Read
GMX – Governance proposal “GMX v2 Fee Split” goes live – Read
Parallax Finance – IDO to be launched on Arbitrum off of Sparta DEX’s launchpad Sparta Pad – Read
PepperDEX – Said to be the spiciest Dex to launch this year on Solana powered by the HXRO Network – Read
Prisma Finance – Announces cbETH as one of the initial collaterals – Read
Ribbon Finance – Governance proposal to merge Ribbon Finance into the options platform Aevo – Read
Scroll – According to a Scroll researcher @pseudotheos, mainnet is sooner than we think. The tweet was also retweeted by the Scroll main account – Read
Starknet – Starknet Quantum Leap part 1 went live on mainnet yesterday. Here’s everything you need to know – Read
Life gets busy so here’s what you’ve missed.
GM degen podcast
Listen & Watch.
In today’s episode “Crypto degeneracy 🤝 online gambling”
Not sure if it’s a match made in heaven or hell? Either way, we’re entertained and talking about it. The lads also chat about the biggest winners/movers in $UNIBOT, $DMT and $RLB.
Protectorate: A Definitive Guide
Protectorate is an innovative protocol designed to generate deep, sustainable liquidity for both NFTs and NFT financialization (NFTfi) protocols that have been developed to address the issues surrounding NFT liquidity.
Reflections on Regulations, Revolutions & Core DeFi Ethos
The Army of Regulators is here. The ultimate fiduciaries who masquerade as Robin Hoods of the world and vow to protect the human in flesh and bone. But who are they after? What crimes have the swindlers committed? And why are the Decentralized Revolutionaries rising?
🐥 What Twitter is saying.
To save you doom scrolling.
@lookonchain, the US government are once again moving Bitcoin around.
@JasonrShuman, life as a VC ain’t easy as we think… here are the numbers.
@RabbitX, Rollbit perps anyone?!
🦍 And finally…
It looks like Bitcoin is on the move again as it ignored CPI data and as the US Government started moving their Silk Road stash around yesterday to fresh wallets. Historically, the price of Bitcoin has been dumped on the news, however, it barely even flinched off the back of it.
Is the Government readying the lads to buy the blood after they dump their bags causing a mini flash crash so that they can buy the dip before liquidating short sellers or will we see this stash of BTC being sold in an OTC deal to prospective spot BTC ETF applicants?
Bitcoin’s consolidation does make me think that it’s gearing up for a potential move.
– blocmates team
🤝 A final word.
A quick word from our super awesome sponsors who help us make this all possible…
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