Over 19k subscribers
Welcome to the very first instalment of BSCN's weekly newsletter. Get ready for comprehensive catalyst watchlists, upcoming token unlocks, must-have news, and more...
[July 15] 0.89% of OP supply - $17.2M
[July 15] 4.92% of STRK supply - $36.2M
[July 15] 3.81% of CYBER supply - $3.77M
[July 16] 2.87% of ARB supply - $65.8M
[July 16] 1.66% of AXS supply - $13.6M
[July 17] 2.31% of APE supply - $11.6M
[July 18] 1.97% of MANTA supply - $5.63M
[July 19] 7.05% of PIXEL supply - $10.24M
[July 15] Federal Reserve’s Daly Speech
[July 17] UK CPI data, YoY and MoM
[July 17] Federal Reserve’s Beige Book
[July 18] European Central Bank Monetary policy statement
[July 18] US Initial Jobless Claims data
[July 19] Federal Reserve’s Williams and Bostic speeches
[July 15] Major announcement from Solchat (CHAT)
[July 15] FET, AGIX, OCEAN merge into new ASI token
[July 15] Sanctum to release CLOUD token launch details
[July 15] Stacks (STX) Nakamoto Upgrade code completion
[July 16] Chromia Mainnet launch
[July 15-] Treasury reports expected soon from BEAM, MC.
[July 17] Binance wallet to undergo 1-hour of maintenance
[July 17] Cosmos (ATOM) v18 upgrade
[July 18] Sanctum’s CLOUD token goes live
[July 18] Polyhedra announces next official staking program
"Things are looking up this week. BTC, ETH and most other majors are in the green over the 7-day for the first time in what feels like a lifetime.
A few potential reasons for this including encouraging US inflation data, several SEC defeats (dropped investigations) and the depletion of the German government's Bitcoin holdings. Still a few factors to be aware of though including ongoing Mt Gox repayments and Genesis dumping.
It's worth noting that, even though we've listed a handful of potentially impactful events above, we could be in for some shock announcements this week. From speaking to various major projects, we know that multiple announcements have been postponed due to poor market conditions. With markets showing signs of growth, those announcements could be about to go public.
Keep your eye on the prize and on the @BSCNews X/Twitter account..."
Donald Trump Drama: When news of shots-fired at yesterday's Trump rally broke, Bitcoin's price surged immediately to nearly $60,000. Let's forget for the moment just how insane it is that a former-President being attacked can constitute a bullish catalyst for the crypto markets; The event really showed us two things in near-perfect clarity...
Firstly, just how sensitive the crypto sector is to US political events.
Secondly, the fact that the market is pricing in a Trump victory as a major bullish catalyst for digital assets.
The lesson should likely be to keep a very close eye on Trump-related news and events, whether or not it is directly related to cryptocurrency. Let's also not forget that Trump has now been confirmed as an official speaker at the upcoming Bitcoin 2024 conference in Nashville.
This will be the first time the former-President has addressed the crypto community directly, and it's potential to shake up crypto prices remains huge.
Ethereum ETFs: Against a backdrop of vicious BTC-dumping from various parties and institutions, the industry seems to have forgotten that the launch of spot Ether ETFs in the United States remains imminent.
The expectation is still that these ETFs will launch some time in July (although the expected date has admittedly been pushed back from the very start of the month) and all issuers have now submitted updated S-1 forms.
It's also worth remembering that nearly all major selling has occurred on BTC (Mt Gox, German Govt., Genesis), and that ETH has not been the target for the most part.
Certainly the lack of a staking element could suppress ETH ETF flows, but with only ~10% of ETH's supply on exchanges, the potential impact of ETF launch on ETH's price remains potentially very significant indeed.
Genesis Dumping Begins?: According to Arkham Intel, the German government's Bitcoin holdings (50,000 BTC), which it seized in relation to pirated-movie website 'Movie2k', have now been depleted, after weeks of sending large sums to CEXs and market makers.
However, it seems as if Genesis may now be taking up the mantle...
Back in May of this year, US courts approved a ~$3 billion repayment plan designed to make its customers (and crucially not its owner DFG) whole again.
It now appears that an address labelled 'Genesis Trading', has started to move large amounts of cryptocurrency to Coinbase, presumably in preparation for liquidation. Beginning with several hundred million dollars worth of Bitcoin, the address still holds more than $2.3 billion worth of cryptocurrency.
Its biggest position is Bitcoin ($1.96 billion), but it also holds sizeable stacks in Ethereum ($363 million), and Compound ($5.6 million).
Some of the biggest stories from the past week that you really ought to know about...
Donald Trump All-In on Bitcoin? - Donald Trump has been confirmed as an official speaker at this year's Bitcoin conference and the industry is braced to hear what he has to say. This could be the biggest political cryptocurrency event in memory...
Link: https://bsc.news/post/donald-trump-to-speak-at-bitcoin-conference-2024-why-it-matters
SEC's Reign of Terror at and End? - The SEC appears to be on a losing-track when it comes to high profile crypto cases. 2024 has already seen the regulator close its investigation into Consensys and this week saw even more investigations close with no intended enforcement actions...
Link: https://bsc.news/post/sec-declares-busd-not-a-security-closes-investigation-on-paxos
Huge News for the CORE Ecosystem - Core Blockchain has seen its credibility and reputation boosted by the onboarding of a new validator. Here's what you need to know about a partnership that could pave the way for even bigger collaborations in the future...
Link: https://bsc.news/post/animoca-brands-joins-core-dao-as-validator-paving-the-way-for-web3-d-apps-integration
New Project Alert! - The founders of DeFi OG protocol, Compound Finance, have announced an entirely new venture, designed to onboard the next 100 million users to Web3. Here's what you need to know about what could be the next DeFi giant...
Link: https://bsc.news/post/what-we-know-about-compound-founder-s-all-new-project-legend
[Disclaimer: The information provided in this newsletter is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are highly volatile and carry significant risk. Always conduct your own research and consult with a financial advisor before making any investment decisions.]
BSCN Alpha Newsletter
