🗞 Market commentary.
Gee to the M apes,
Euphoric green candle glory.
That’s what happened on Tuesday as Grayscale takes a small win against the SEC.
On Tuesday the judge deemed the SEC’s previous rejection of the conversion of the Grayscale Bitcoin Trust (GBTC) into a Spot BTC ETF as “unfair” and the analysis on the “fraud and manipulation” issue was wrong.
This means the SEC has 45 days to go back and review Grayscale’s proposal again in line with the court’s ruling. This may give Gensler and his minions the exit strategy they need from their crusade against ETFs and our magical internet beans.
It’s no secret that the USA is getting left behind in the race for digital asset acceptance. We saw London-based Jacobi Asset Management list the FIRST, yes FIRST Spot BTC ETF in Amsterdam giving the Euros a 1 : nil lead over the USA.
And whilst a US-based Spot BTC ETF approval isn’t guaranteed off the back of Grayscale’s win, it does create the kind of positive momentum the industry needs, stonks included.
So Gary, how painful do you want to make this? Because right now it’s looking pretty bleak for you and your minions. You have now been gifted with a get-out-of-jail-free lifeline to, once again, become an Algorand shilling crypto maxi and make America great (again).
And on the road to making America great again, the SEC has filed a sealed motion against Binance keeping specific documents hidden and secret. Which, let’s be honest, will spark a lot of speculative claims across media platforms as a sealed motion is an extremely rare occurrence and even surprised John Stark the Former Chief, SEC Office of Internet Enforcement.
Could we speculatively say that over the next 45 days, whilst Grayscale’s application is under view again, the SEC will aggressively attack Binance as Binance holds one of the largest stacks of Bitcoin compared to Coinbase who have been listed under a “surveillance sharing agreement” on key spot BTC ETF applications?
Grab the popcorn, Binance vs. the SEC is about to get real interesting real quick.
🤓 In today’s email.
Degen corner. The next multi-billion dollar marketcap industry
DeFi insights. 11 need to know
ICYMI. A comparative research article on Vertex Protocol vs The Rest
Tweet of the day. rektdiomedes, we all feel your pain!
And finally. REK-tember, the data doesn’t look good
🔥 Degen corner.
Bot are the next multi-billion dollar marketcap industry
Every warrior needs a weapon set and telegram bots have been arming traders with an edge for years.
It just so happens that they are now becoming an industry standard. For the first time, they have been somewhat successfully tokenised with UniBots revenue share model seemingly leading the way.
The way I see it, telegram bots are going to be the next multi-billion dollar sector of the crypto market because we all came for the tech, got hooked on the gamble and the hopium dictates that the sh*tcoin you just sniped with your [insert bot of choice] is absolutely, definitely, probably, maybe going to be the next SHIB, PEPE or DOGE print you, yes you a cool calm $1m.
What’s the need for a token?
Well, there isn’t… but there is.
A bot, in theory, should work on its own as it’s simply a bit of tech that you connect your telegram to and ape accordingly.
However, the Future of France is at stake here and coming up with innovative
ponzi tokenomic models that create up only and give holders a reason to accumulate is the name of the game.
Over the next few months, we want to see these early movers continuing to stay ahead of the curve as they have brought these once-hidden tools to the forefront of on-chain trading.
The recipe is simple, create a slick AF utility that prints for the type of trader you’re targeting your tool at.
It has been an interesting few months seeing the range of bots that have been developed including their market strategy for adoption. UniBot is there for the manual trader with hodlers taking advantage of the revenue share model. Aimbot uses AI to analyse each block, buy via the contract and then manually (for now) sell before rewards are distributed to holders.
Remember reflections season? Yeah, this feels like a smarter, more sustainable way of reflecting rewards onto users and hodlers alike.
Calling it now, telegram (and discord bots) are the next multi-billion dollar market in crypto and yes, yes I do believe they will give clunky DEXes a run for their money.
PS. I didn’t make this up but as of right now, CoinGecko lists the total market cap of telegram bots as $269M (lol)
👀 DeFi insights.
The important bits.
Aerodrome Finance – Becomes the largest protocol on Base – read
Aimbot – New AI sniper contract went live across 4 wallets – read
Avalanche – Introduces “Teleporter” a cross-chain messaging service – read
Banana Gun – Final NFT quest goes live and hints at a Banana gun token – read
Bumper Finance – Explainer video on how Bumper protects against downside – read
Curve Finance – Launches on Base with 3 pools – read
LlamaQuestNFT – Polygon <3 WenLlamas “PolyBot” NFTs coming soon – read
Mori Finance – The “Pool” feature went live on testnet with ETHS & ETHC holders eligible to earn staking rewards – read
Perpy Finance – Spectre closed beta launches Sept 4th with a comparative look at previous versions – read
Swell – Chapter 2 of the Voyage Airdrop begins – read
Tenet – Troopers NFT quest goes live on Mercle – read
📰 DeFi news.
Even more important bits.
Binance’s BUSD to wind down by 2024 to be replaced with First Digital USD (FDUSD) – read
Coinbase set to list PYUSD, PayPals stablecoin, as initial adoption appears slower than expected – read
Friend Tech threatens users who decide to use competitor apps which isn’t very friendly at all – read
Robinhood adds support for BTC, DOGE and ETH whilst being identified by Arkham as the 5th largest holder of Ethereum – read
UniSwap lawsuit gets dismissed as judges deem DeFi’s most popular dex “not liable for scam tokens” – read
Life gets busy so here’s what you’ve missed.
Podcast: Jedi joins Let Loose with Moose
Listen & Watch.
Our very own Jedi blocmates joins CryptMoose_ on the Let Loose with Moose podcast digging into his unique gaming history and how to find the next 100x gem.
Vertex Protocol vs. The Rest – A Comparative Analysis
Perps are an instrument primarily used only on CEXs, and for good reason. Cheap fees, a fast liquidation engine, order books, and quick order matching are all imperative for a good perp trading experience, all of which are difficult to achieve on-chain.
To Bot or Not to Bot? Will Trading Bots Kill Perp Dexes?
The convenient nature of trading directly from your favourite Telegram or Discord server is hard to match, especially when compared to connecting to a cumbersome DEX only to be hit with extravagant fees and often sub-par user interfaces and generally poor UX/UI.
🐥 Tweet of the day.
To save you doom scrolling.
rektdiomedes, long-term readers will know that we (the team) feel the same pain
🦍 And finally…
REK-tember might just present a number of opportunities across the board as it’s not just crypto that historically tanks. Data below is pulled from the last 50 years.
🤝 A final word.
A quick word from our super awesome sponsors who help us make this all possible…
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