📰 Is The Supply Shock Imminent?
💎 Fantom (FTM) DeFi And DEXs!
💥 Alephium (ALPH) Plays?
💭 Today’s Secret Code!
Good Morning Degens,
Did you know there’s an airdrop ongoing for a memecoin called GUMMY?
Details are still being ironed out, but one thing is for sure, earning points on Banter Bubbles is one way to get included. See that little “Sign In To Earn” yellow tab at the top of the Bubbles screenshot below? That’s where your points accumulate. Simply download the Banter Bubbles app or visit the website here, log in with your Twitter/X account, and start earning.
Now let’s see what's up with the market.
Let’s dive in!
🌍 Market Catch-Up
Top 100 coins Daily Performance - Banter Bubbles
📰 Question of the Day
Is The Supply Shock Imminent?
Did you catch this yesterday?
Yep, there's reason to believe that the supply shock that we've been mentioning for the past few months is going to come sooner than we think.
Based on that statement above, it seems that banks are starting to reach out directly to Bitcoin mining corporations in order to get the coins straight off the production line before they hit the shelves. Basically, they want to buy them straight from the miners and not wait for them to hit exchanges first.
You see, there are a lot of rumours about the Bitcoin on centralised exchanges and OTC desks slowly drying up. And it's especially due to the fact that the companies behind the Bitcoin spot ETF products are eating up the available supply fast. BlackRock and Fidelity are buying at alarming rates, around 10x the amount that BTC miners can produce daily (approx. 900 BTC).
And the funny thing is that once the new supply issuance has halved after the Bitcoin halving (in around 16 days), this effect will only become stronger.
When everyone wants to buy Bitcoin but none is available, holders will start offering to sell it at much, much higher prices. There is no reason why Bitcoin couldn’t double in price when the supply shock comes.
But nothing is certain, and this is not financial advice. Do your own research!
💎 Degens’ Den
Fantom (FTM) DeFi And DEXs!
Fantom’s Total Value Locked (TVL) is currently sitting at $113.56m. That $113 million is approximately 0.119% of the overall TVL of $95 billion sitting within all protocols in crypto. Thus, Fantom has a lot of room to grow, as we can see. And it probably will, due to this…
There is a thesis that Decentralized Finance (DeFi) is going to be a strong narrative for Fantom in this bull market. The signs are all there. Firsty, Fantom is transforming into Fantom Sonic.
TLDR: Sonic is Fantom 2.0 in a way, and will replace Opera, which is Fantom’s current mainnet.
Fantom Sonic:
Is the name of the new Fantom technology stack or simply the next iteration of the Fantom Network.
No hard fork required for the upgrade.
Existing smart contracts, services and tools on Fantom Opera should be fully compatible.
And, with the upgrade, they are onboarding new angel investors. So far, 4 out of 4 of the angel investors announced have been rooted deeply in DeFi.
Decentralized Exchanges (DEXs) are central to DeFi. And so I went to analyze them on Fantom. Usually the action happens where the fees are being generated. So I checked the fees.
Looking at the 30-day fees generated across all protocols on Fantom, we see that two DEXs are leading. However, I did not expect to see this.
There is a DEX overtaking SpookySwap on this metric called WigoSwap - which we might want to pay attention to. The reason I say this is because SpookySwap was already in my mind as the leading DEX on Fantom, and based on TVL it still is. But the fees are starting to tell a different story.
WigoSwap has more than double the fees on both the 7-Day and 30-Day metrics, while its TVL is less than a third of SpookySwap’s. Their market caps are similar however.
WigoSwap (WIGO)
7-Day Fees: $79,062
30-Day Fees: $710,608
Total Value Locked $9.27m
Market Cap $20.25m
SpookySwap (BOO)
7-Day Fees: $32,297
30-Day Fees: $305,354
Total Value Locked $35.84m
Market Cap $19.3m
I’ll be keeping an eye on WigoSwap if this DeFi narrative on Fantom really kicks off!
💥 Best Alpha Posts of the Day
Alephium (ALPH) Plays?
Some of the team are bullish on Alephium.
Could these be the next tokens to run on its next leg up?
Skeptical On Ethena?
Remember a few weeks back when I was skeptical on Ethena, and said that in the case it ever collapsed it would bring the whole market down with it?
Willy Woo here also has some skepticism…
Do with this info as you will!
🚀 Trade of the Day
The First Airdrop in the Arweave Ecosystem
This is amazing! AO has really helped kickstart the Arweave ecosystem again. And now we just received news that one of the biggest projects from within the Arweave ecosystem has announced an airdrop.
The project is called AR.IO. It is the parent company of ArDrive (think of this as a DropBox on Arweave, and it is also working on building decentralized gateways to Arweave. Gateways are how you access a network. For example on the World Wide Web this is “https://”. With Arweave and AR.IO this is “ar://”. By developing this decentralized Arweave gateway, it ensures that Arweave can never be turned off and is always accessible.
As for the airdrop, the best way to become eligible (as per the post below) is to use ArDrive to upload data, or get an Arweave Name System address here. Interestingly enough, you can use ArDrive for free when uploading up to a certain size of file.
Not financial advice. Do your own research!
🐸 MEMEoirs of a Degen!
TradFi right now!
📢 Biggest Announcements
PENDLE Rises to Top 10 DeFi Protocols
Aerodrome Becomes 6th Largest DEX by TVL on Coinbase's Base Chain
DWS, with $932 Billion in Assets, Launches Physical Bitcoin ETC in Germany
💭 Banter’s Take
This is kinda true to be honest…
Now, as for our competition I mentioned yesterday, it goes live on Monday. Hopefully you noted down the code from yesterday’s issue. If not, you can find it here.
Today’s code is: AB3FRSS0
Note that down too. It will all make sense on Monday!
See you then!
Thumbs up👍👍👍