All Street Bets NewsletterCoinbase Smart Wallets
The time is almost here (we think). Coinbase has been teasing about their “Smart Wallet” integration these last few weeks with the rumors circul...
All Street Bets NewsletterIs The Bull Market Over?
"Bitcoin is down 15% off of its all time highs ...""Bitcoin was rejected multiple times off of 70k range...""The bull market is over!" As of June...
All Street Bets NewsletterMacro Environment
Is the top in? 🤔
All Street Bets NewsletterCoinbase Smart Wallets
The time is almost here (we think). Coinbase has been teasing about their “Smart Wallet” integration these last few weeks with the rumors circul...
All Street Bets NewsletterIs The Bull Market Over?
"Bitcoin is down 15% off of its all time highs ...""Bitcoin was rejected multiple times off of 70k range...""The bull market is over!" As of June...
All Street Bets NewsletterMacro Environment
Is the top in? 🤔
Subscribe to All Street Bets Newsletter
Subscribe to All Street Bets Newsletter
Share Dialog
Share Dialog
<100 subscribers
<100 subscribers
Earlier this week we wrote about the Macro Environment, now we will dive in to see what this means for $BETS.
First, let's quickly go over what $BETS is. $BETS is the token for All Street Bets, a culturecoin, where users can buy the token and have access to the All Street Bets community and holder perks. The $BETS culturecoin was launched on Base, a Layer 2 blockchain built on Ethereum, which puts it under the Ethereum ecosystem. This is important because Ethereum has been known to have a secure, stable and powerful blockchain, allowing projects to build confidently; and Base gives you all of the benefits of Ethereum but with very low fees. Here is a quick YouTube Short clip that explains Base:
https://youtube.com/shorts/nBWVICDj5Bc?si=jEbzoCYOcHapvPLK
Jaime’s vision with All Street Bets is simple. He wants to disrupt the financial ecosystem and push for freedom. Jaime founded one of the most famous subreddit pages on Reddit, called Wall Street Bets (WSB). Reddit would limit Jaime, telling him what he can and cannot do on this page he created, and would not even be allowed to talk about cryptocurrency... on a financial platform. Jaime built WSB subreddit from 0 subscribers all the way up to about 14 million subscribers, bringing disruption to the financial space.
Out of frustration with his baby, Jaime wanted to recreate WSB but bigger, better & decentralized - this is where All Street Bets steps in. An inclusive global community where anyone in the world is welcome to participate and hang out with like-minded people. People who embrace crypto in the economic and financial space that want to build and learn together. Where they can express their freedom of speech to talk about a range of topics.
A big focus of the freedom theme is to help free children who are unfortunately at risk or involved in child trafficking. A dedicated 0.75% of each DEX transaction will be donated to supporting nonprofit organizations fighting to prevent and save children from child trafficking. The team has been working with the U.S government to guide where the money will be best allocated and at the time of this writing (May 30th), the All Street Bets team has already donated $85,000 and is soon to make another donation.
All Street Bets represents freedom:
Freedom to Transact
Freedom of Expression
Freedom to be Free.
Now, lets get into how this bull market will benefit $BETS.
A rising tide lifts all boats - the whole crypto economy usually benefits when BTC increases in value and the ecosystem below these majors (BTC, ETH & SOL) usually explode, the Beta plays. During the last cycle, Ethereum NFT’s went parabolic - CryptoPunks was the project everyone wanted to be part of, and in the 2021 cycle a CryptoPunk sold for 8,000 ETH or about $23 million at the time. As BTC, ETH and macro economic factors are looking bullish, this is a good sign for $BETS to follow and take-off.
Assets under ETH can go up or down in price at any point, whether ETH is doing good or bad depending on many, many factors of that asset. But usually, when ETH goes up in price, the whole ETH ecosystem will follow. One of my favorite follows on twitter is @SatoshiFlipper, and in the chart below he is showing the bullishness of ETH right now.
When ETH has gone up in value, investors will use this ETH and rotate into undervalued assets in the ecosystem. As mentioned above, in the last cycle, many people rotated their ETH into NFT’s as ETH ran up in price. This year, it is looking like coins are the hot trade and will be where people rotate their ETH. Not only are we in a bull market, but Ethereum recently got approved for an ETF, allowing hundreds of millions (probably billions) of institutional money to flow into ETH. $BETS is in a good position to capitalize and be a place where people will want to rotate that juiced up ETH. Another bullish case for Base, is the release of the Coinbase Smart Wallets.
Coinbase Smart Wallets:
Coinbase created and is launching their "Coinbase Smart Wallet" integration, now rumored (leaked?) to be June 5th! Coinbase Smart Wallets will allow Base tokens to be traded right from their Coinbase ecosystem, with the ability to buy $BETS in seconds with just a few clicks. For those wondering, Coinbase has exposure to over 100 million users.
Instead of needing to buy ETH, send it to a wallet, bridge to Base, and then buy on an exchange, users will be able to buy Base tokens within seconds thanks to Coinbase. Solana memecoins have been the craze for crypto native people recently, and similarly, it can be difficult to get started - needing to buy SOL, send it to a wallet, go to an exchange and buy there. This Smart Wallet integration is coming at a great time, as Base itself is starting to heat up. As of the 29th, Base has seen 600,000 users join Base already, and about "50,000 new wallets are using Base every day" as mentioned below by @DopeOxide.
To me this is a “we are early” sign. As more users are coming to Base, more volume is happening and I believe this number will continue to rise once the Smart Wallets are launched. Nothing is guaranteed - but your average Joe is just starting to hear about Solana memecoins like $WIF (coin called DogWifHat, the most popular Solana memecoin at the moment with a market cap of ~$3.4B). We are also starting to see celebrities join the movement and launch tokens as well (Caitlyn Jenner, Rich the Kid, Iggy Azalea to name a few), giving millions of fans exposure to the crypto space.
Most people don’t understand or want to go through the headaches of figuring out how to buy these memecoin, but they want in on the fun and the good vibes of the communities.
The below chart is showing Base volume (red line) per day compared to Ethereum (yellow) and Solana (green). Base was launched in late 2023 and has reached a peak of $1.2B of volume traded in a single day. Solana memecoins are the popular trade so far in 2024, but Ethereum has more volume. As Base is still new, and coming in hot, I wouldn’t be surprised to see some Ethereum volume rotate into Base tokens and see Base close the gap in volume vs Solana. Base trading it more attractiveness than ETH trading as it has much lower fees. If Base were to match Solana volume, it would be almost a 5x from May 30th’s volume…. Over $1B more. Which would put $BETS in a great position to benefit.
Accumulation Phase:
Between the start of the bull run, ETH ETF, Base Smart Wallet release and the All Street Bets team non-stop building, $BETS is getting ready to rocket. Lets look into what happens when projects and communities build during accumulation phases.
This is one of the top "meme coins" on ETH, $PEPE. The first red circle from the first run up was in May 2023. The second red circle is around February 2024, that is 9 months of accumulation before it spring boarded. Good things happen to those who wait.
Here is the $BETS chart, with just under two months of accumulation. Although I don't think $BETS will take as long to run up as $PEPE did because we are in the bull market currently, whereas $PEPE was accumulating before the bull market started.
Here is another fun chart to speculate with. @CryptoCurb here is going back to the $WIF early days. He shows that meme coins usually have this “Test Pump” followed by some accumulation and chop, and then a “Real Pump” later on. Usually weeks, later. $WIF was around $.01 per coin at its peak during this Test Pump phase, and is now trading over $3.4 per coin, after the Real Pump phase.
Many think $WIF is just getting started as well. During the bull run last cycle, Doge was everyone's favorite memecoin and hit a market cap of $90 billion. As mentioned above, $WIF is everyone's favorite memecoin in 2024 and is currently at a $3.4B market cap. $BETS is currently at a $5.2 million market cap... I don't think any of us are bullish enough. We should see a bunch of coins reach $1B + this cycle.
Here is the $BETS chart again... will we see a "Real Pump"?
To conclude, I am bullish on $BETS. A lot of factors are coming together at the perfect time - with the macro environment conditions, reasons in this article and the ideas $BETS are building out to fruition, I will see you on the moon. None of this is financial advice, I simply took information from people who are smarter than me and did my own thinking.
Earlier this week we wrote about the Macro Environment, now we will dive in to see what this means for $BETS.
First, let's quickly go over what $BETS is. $BETS is the token for All Street Bets, a culturecoin, where users can buy the token and have access to the All Street Bets community and holder perks. The $BETS culturecoin was launched on Base, a Layer 2 blockchain built on Ethereum, which puts it under the Ethereum ecosystem. This is important because Ethereum has been known to have a secure, stable and powerful blockchain, allowing projects to build confidently; and Base gives you all of the benefits of Ethereum but with very low fees. Here is a quick YouTube Short clip that explains Base:
https://youtube.com/shorts/nBWVICDj5Bc?si=jEbzoCYOcHapvPLK
Jaime’s vision with All Street Bets is simple. He wants to disrupt the financial ecosystem and push for freedom. Jaime founded one of the most famous subreddit pages on Reddit, called Wall Street Bets (WSB). Reddit would limit Jaime, telling him what he can and cannot do on this page he created, and would not even be allowed to talk about cryptocurrency... on a financial platform. Jaime built WSB subreddit from 0 subscribers all the way up to about 14 million subscribers, bringing disruption to the financial space.
Out of frustration with his baby, Jaime wanted to recreate WSB but bigger, better & decentralized - this is where All Street Bets steps in. An inclusive global community where anyone in the world is welcome to participate and hang out with like-minded people. People who embrace crypto in the economic and financial space that want to build and learn together. Where they can express their freedom of speech to talk about a range of topics.
A big focus of the freedom theme is to help free children who are unfortunately at risk or involved in child trafficking. A dedicated 0.75% of each DEX transaction will be donated to supporting nonprofit organizations fighting to prevent and save children from child trafficking. The team has been working with the U.S government to guide where the money will be best allocated and at the time of this writing (May 30th), the All Street Bets team has already donated $85,000 and is soon to make another donation.
All Street Bets represents freedom:
Freedom to Transact
Freedom of Expression
Freedom to be Free.
Now, lets get into how this bull market will benefit $BETS.
A rising tide lifts all boats - the whole crypto economy usually benefits when BTC increases in value and the ecosystem below these majors (BTC, ETH & SOL) usually explode, the Beta plays. During the last cycle, Ethereum NFT’s went parabolic - CryptoPunks was the project everyone wanted to be part of, and in the 2021 cycle a CryptoPunk sold for 8,000 ETH or about $23 million at the time. As BTC, ETH and macro economic factors are looking bullish, this is a good sign for $BETS to follow and take-off.
Assets under ETH can go up or down in price at any point, whether ETH is doing good or bad depending on many, many factors of that asset. But usually, when ETH goes up in price, the whole ETH ecosystem will follow. One of my favorite follows on twitter is @SatoshiFlipper, and in the chart below he is showing the bullishness of ETH right now.
When ETH has gone up in value, investors will use this ETH and rotate into undervalued assets in the ecosystem. As mentioned above, in the last cycle, many people rotated their ETH into NFT’s as ETH ran up in price. This year, it is looking like coins are the hot trade and will be where people rotate their ETH. Not only are we in a bull market, but Ethereum recently got approved for an ETF, allowing hundreds of millions (probably billions) of institutional money to flow into ETH. $BETS is in a good position to capitalize and be a place where people will want to rotate that juiced up ETH. Another bullish case for Base, is the release of the Coinbase Smart Wallets.
Coinbase Smart Wallets:
Coinbase created and is launching their "Coinbase Smart Wallet" integration, now rumored (leaked?) to be June 5th! Coinbase Smart Wallets will allow Base tokens to be traded right from their Coinbase ecosystem, with the ability to buy $BETS in seconds with just a few clicks. For those wondering, Coinbase has exposure to over 100 million users.
Instead of needing to buy ETH, send it to a wallet, bridge to Base, and then buy on an exchange, users will be able to buy Base tokens within seconds thanks to Coinbase. Solana memecoins have been the craze for crypto native people recently, and similarly, it can be difficult to get started - needing to buy SOL, send it to a wallet, go to an exchange and buy there. This Smart Wallet integration is coming at a great time, as Base itself is starting to heat up. As of the 29th, Base has seen 600,000 users join Base already, and about "50,000 new wallets are using Base every day" as mentioned below by @DopeOxide.
To me this is a “we are early” sign. As more users are coming to Base, more volume is happening and I believe this number will continue to rise once the Smart Wallets are launched. Nothing is guaranteed - but your average Joe is just starting to hear about Solana memecoins like $WIF (coin called DogWifHat, the most popular Solana memecoin at the moment with a market cap of ~$3.4B). We are also starting to see celebrities join the movement and launch tokens as well (Caitlyn Jenner, Rich the Kid, Iggy Azalea to name a few), giving millions of fans exposure to the crypto space.
Most people don’t understand or want to go through the headaches of figuring out how to buy these memecoin, but they want in on the fun and the good vibes of the communities.
The below chart is showing Base volume (red line) per day compared to Ethereum (yellow) and Solana (green). Base was launched in late 2023 and has reached a peak of $1.2B of volume traded in a single day. Solana memecoins are the popular trade so far in 2024, but Ethereum has more volume. As Base is still new, and coming in hot, I wouldn’t be surprised to see some Ethereum volume rotate into Base tokens and see Base close the gap in volume vs Solana. Base trading it more attractiveness than ETH trading as it has much lower fees. If Base were to match Solana volume, it would be almost a 5x from May 30th’s volume…. Over $1B more. Which would put $BETS in a great position to benefit.
Accumulation Phase:
Between the start of the bull run, ETH ETF, Base Smart Wallet release and the All Street Bets team non-stop building, $BETS is getting ready to rocket. Lets look into what happens when projects and communities build during accumulation phases.
This is one of the top "meme coins" on ETH, $PEPE. The first red circle from the first run up was in May 2023. The second red circle is around February 2024, that is 9 months of accumulation before it spring boarded. Good things happen to those who wait.
Here is the $BETS chart, with just under two months of accumulation. Although I don't think $BETS will take as long to run up as $PEPE did because we are in the bull market currently, whereas $PEPE was accumulating before the bull market started.
Here is another fun chart to speculate with. @CryptoCurb here is going back to the $WIF early days. He shows that meme coins usually have this “Test Pump” followed by some accumulation and chop, and then a “Real Pump” later on. Usually weeks, later. $WIF was around $.01 per coin at its peak during this Test Pump phase, and is now trading over $3.4 per coin, after the Real Pump phase.
Many think $WIF is just getting started as well. During the bull run last cycle, Doge was everyone's favorite memecoin and hit a market cap of $90 billion. As mentioned above, $WIF is everyone's favorite memecoin in 2024 and is currently at a $3.4B market cap. $BETS is currently at a $5.2 million market cap... I don't think any of us are bullish enough. We should see a bunch of coins reach $1B + this cycle.
Here is the $BETS chart again... will we see a "Real Pump"?
To conclude, I am bullish on $BETS. A lot of factors are coming together at the perfect time - with the macro environment conditions, reasons in this article and the ideas $BETS are building out to fruition, I will see you on the moon. None of this is financial advice, I simply took information from people who are smarter than me and did my own thinking.
Thank you for this very useful information, i was able to understand more about the project but not just that but also i was able to learn more about bets. i love it man, keep it up and don't fade on us. i appreciate the hard work too.
Matt
Matt
1 comment
Thank you for this very useful information, i was able to understand more about the project but not just that but also i was able to learn more about bets. i love it man, keep it up and don't fade on us. i appreciate the hard work too.