Mando Minutes

14th August

Author

Mando
August 26, 2023

Things I’m looking at today…

Crypto

  • Market flat, Bitcoin volatility lowest since 2018

  • Bitcoin open interest drops $500m suddenly

  • Bitcoin futures volume 14x spot, highest ratio ever

  • Altcoin volume also hits 2 year high vs Bitcoin

  • Miners continue to sell Bitcoin, 1400BTC in last day

  • BTC ETF will not be approved before 2024 election says former SEC attorney

  • Vitalik calls XRP "completely centralised" says every ETH L2/roll-up has some kind of "backdoor"

  • Total ETH staked continues to grow past that on exchanges (25m vs 22m)

  • Coinbase app big UX upgrades over next 2 weeks

  • Celsius to shut in 90 Days, partners with PayPal for $2bn BTC & ETH creditor distributions

  • Zunami Protocol yield aggregator loses $2m in hack

  • Friend Tech earned 350ETH in fees so far (token?)

  • $SHIB number of addresses hits ATH at 3.54m, Shibarium launch expected this week

  • $SEI futures pump 250%, unofficial market cap $1.2bn before token launch tomorrow

  • $DAI TVL up $1.3bn in 7 days after 8% savings yield

Macro & General

  • This week: US Retail sales (Tuesday), Fed minutes (Weds) the main two things to look out for

  • China markets continue to wobble ahead of potential Country Garden default in property sector

  • China ETFs still saw huge inflows ($4.4bn in 2 weeks) with suspected state buying

  • Russian Rouble hits 16 month low, Japanese Yen also hits 2023 low

  • 75% of US treasuries due within 5 years, higher debt servicing costs in focus (already $650bn/year)

  • US real yields (IR-inflation) highest level since 2009

  • Bill Gross bearish on bonds & stocks, sees inflation staying at 3% long term

  • Zuck claims Elon not serious about their fight, Elon calls Zuck "a chicken"

NFTs & Low-Cap

  • $AKT AI coin up another 10%, up 120% in last week

  • $BALD developer withdraws 7000ETH back to mainnet, send 2100ETH to Kraken

  • $LPT and $BLZ see massive futures volume after large price moves higher

  • $APE & BAYC position grown by MachiBigBrother

  • DeGods reveals season 3 artwork, floor unchanged

  • The MET Museum partners with Roblox for metaverse experience

  • CocaCola new NFT on Base (WAGMI fren!)

  • Reddit NFTs now 20m avatars across 16m wallets

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