BSCN Alpha [July 22]

Your weekly BSCN newsletter has arrived and what a week it is set to be. Prepare for your digest of watchlists, opinions, and recaps...

(1) This Week's Catalyst Watchlist...

Major Token Unlocks:

[July 23] 1.88% of WLD - $13.3M
[July 25] 42.08% of ALT - $106.3M
[July 27] 3.74% of YGG - $7.43M
[July 27] 1.32% of AGIX - $5.18M
[July 28] 0.87% of ENA - $7.1M

Macro Events:

[This week] Announcements/updates to ensue following Joe Biden’s dropping out of election race
[July 24] European Central Bank (ECB) Land, Buch and Guindos Speech
[July 24] Federal Reserve Bowman Speech
[July 25] United States Q2 GDP
[July 25] US Initial Jobless Claims
[July 26] European Consumer Inflation Expectations
[July 26] US PCE data

Crypto Catalysts:

[July 22] zkLink’s ZKL token to officially launch on multiple CEXs
[July 22] Kadena (KDA) lists on MEXC exchange
[July 23] Multiple spot Ethereum (ETH) ETFs expected to launch
[July 25-27] Bitcoin Conference 2024 in Nashville
[July 25] Donald Trump Speaks at Bitcoin Conference 2024
[July 25] Illuvium (ILV) open beta mainnet
[July 29] DASH Evolution mainnet beta
[July 30] Decentralized Social (DESO) launches flagship ‘Focus’ app
[July 30] Boba Network (BOBA) undergoes Fjord Hardfork

Chief Editor's Comment:

"The trajectory of this week changed DRAMATICALLY only yesterday, when President Biden officially announced he was stepping down from the 2024 US Presidential race.

The likely replacement is Vice President Kamala Harris but an awful lot is yet to be decided. The Democrats now have a genuine chance to claw back the crypto-vote from Trump and his campaign.

Keep an eye out in particular for Harris' VP pick (assuming she is confirmed), as well as the language/jargon used now in relation to the digital assets sector.

HOWEVER, do not let US political happenings distract from other macroeconomic triggers and events occuring within the industry. US politics certainly has a big impact on the crypto markets, but there's much more to it than that..."

(2) Narrative Watchlist

US Political Fiasco: Ok so much as it distracts from happenings within the blockchain industry, this one can't be ignored.

Democrat replacement for Biden likely to be confirmed imminently with most expectations pointing to VP Kamala Harris - but US politics has a tendency to shock the world.

If Harris is confirmed, then eyes will turn to her VP running mate. Given Harris's lack of track record within the blockchain sector, the VP could be used to win over some crypto voters. The Digital Chamber has already called for Colorado Governor Jared Polis but everything remains up in the air.

HOWEVER, let's also not forget that Trump will be speaking at Bitcoin 2024 Conference this week, and many will see this as a chance for him to address the 50+ million crypto voters directly, and potentially flesh out his crypto-related policies which currently lack meat on the bones.

Inflation-Related Issues: Though very much in the back of the crypto-mind in light of recent Presidential developments, inflation and global policy remains a MASSIVE factor for the digital asset markets.

Expectations now revolve around a September rate cut from the US Federal Reserve but by now we know nothing is guaranteed when it comes to US monetary policy.

There are also some significant European-related monetary happenings this week. Most notably, several European Central Bank (ECB) speeches, as well as critical consumer inflation expectations.

Ethereum ETFs: Another seriously obvious/important one. Many analysts claiming that the full impact of ETH ETF launch has not been priced in by the market and volatility could be on the horizon.

On the flipside, two major negatives to Ether ETF launch are (a) possible Grayscale outflows owing to uncompetitive 2.50% fees, and also (b) the lack of a staking element to these ETFs which could seriously hinder demand. That said, 'Crypto Mom' Hester Peirce has already said this element is open to 'reconsideration'...

(3) In case you missed it...

Some of the biggest stories from the past week that you really ought to know about...

Another North Korean Hack on the Way?! - Massive hacks allegedly executed by North Korean hackers have become a worrying trend in the blockchain industry. Here's what you need to know about the latest, but these crippling events now seem to occur on a near-monthly basis...
Link: https://bsc.news/post/north-korean-hackers-suspected-in-235-m-wazir-x-crypto-heist

Galaxy's $1B bet on Ethereum - The Novogratz-led Galaxy is one firm that is very bullish on the future of the Ethereum ecosystem, and this latest $1 billion investment typifies exactly that. The firm now has around $3.3 billion in Ethereum assets under stake...
Link: https://bsc.news/post/michael-novogratz-s-galaxy-digital-acquires-1-b-in-ethereum-staking-assets

Gary Gensler to Resign?! - One blockchain research firm think's that Gensler's rule at the US Securities and Exchange Commission (SEC) is going to come to an abrupt end. What would this mean for the crypto sector...?
Link: https://bsc.news/post/sec-chairman-gary-gensler-may-resign-as-trump-readies-for-2025-presidential-term

[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.]