This is the first in a series of free newsletters I intend to publish, at least on a weekly basis but potentially more often depending on developments in the market. They will cover bitcoin price action, news events, airdrops, alts of interest and so on. I hope you enjoy, and feel free to leave a comment if there's anything in particular you would like future editions to cover.
Market update
Bitcoin $btc
Many people, myself included, have been anticipating a healthy retrace by bitcoin to lower levels pre-halving before the next move up. But bitcoin is currently refusing to give that lower entry. Short-term price is at a key point here as shown in the chart below.
Medium-term, if history repeats, we could see a deep retrace to $34k and remain bullish for a post-halving breakout.
eth/btc
A lot of influencers were predicting a huge altseason after bitcoin peaked following the spot ETF approval but it never came, and the eth/btc chart helps demonstrate why.
$btc dominance
It is a similar story in terms of bitcoin dominance, although if it rejects off the overheard resistance temporary relief may be in sight.
News and other points of interest
Bitcoin fear and greed index
Bitcoin halving countdown
SoFI
I have been dabbling in SoFi over the past few weeks and months and will confess to feeling quite fatigued by it all. Friend.tech has been pretty much all about the finance and very little about the social - good for big accounts with a large following, much less so for the small accounts. Other SoFis like starsarena and post.tech have been dumpster fire slow and fast rug pulls. Newcomers like beta.out.app continue the trend of shitposting to raise your share price and seem likely to have the inevitable dump to follow.
The standout difference is farcaster which has a dev-driven energy I've not seen on any other sofi platform. It's not perfect but it is an interesting experience and the memecoins it is spawning ($degen) are enjoying big moves up.
Airdrop farming
You can get a good sense of whether your favourite twitter influencer is an active trader or not by the amount of airdrops they push! That said, there's undoubtedly some quality airdrops to be had at the moment and this is something I am going to dive into in a bit more detail in future newsletters. The scale of it is overwhelming and I've been lucky enough to qualify for some airdrops (JUP and Doge NFT) just by being active on on different DEFI apps and chains. I am currently playing about with app.getgrass.io which uses your free bandwith which companies and AI labs can use. I happen to have a spare chromebook which I've been using for this. Referral link here if you are interested - https://app.getgrass.io/register/?referralCode=8O04TB66gYKuW0X
Ripple hack
XRP is the great white whale of crypto - never quite delivering the promise of those shilling it that it will imminently go to the moon. It also recently underwent a $112.5m hack, which seem to have been limited to co-founder Chris Larsen's personal wallet.
Ethereum - dencun on mainnet set for March 13th
This represents the first phase towards achieving full data sharding on Ethereum, lowering data availability costs for rollups, thereby decreasing both transaction fees and disk space requirements.
