Happy Wednesday everyone, and welcome back to another Flarnchain newsletter, brought to your inbox each and every week, like an atomic clock.
This week I'm getting back into the swing of things, and there's just an awful lot going on:
Bitcoin halving is in around 20 days.
Sam Bankman Fried (remember that guy?) recently was sentenced to a bunch of years in prison.
Do Kwon(remember that guy?) developments have recently heated up.
Craig Wright was confirmed by a UK court to NOT BE Satoshi Nakamoto.
Osmosis, my favorite decentralized exchange, is doing something crazy with an application called Stream Swap and an NFT collection called Mad Scientists. More on that next week.
Aaaand I dunno, probably 10 other things.
As to not be overwhelmed by too much stuff, I'm going to try and keep this week focused. Let's get started.
Crypto Markets
Crypto Markets have been jumpy / down the past couple of weeks. The overall crypto market cap is sitting around $2.5 trillion, so down over a hundred billion compared to last week, meme coins on Solana have been crazy, and Bitcoin is being tested at $65k and showing support, for now, at that price point. Here's the 3 month Bitcoin Chart as a quick reference, then time to move on!
If anyone is saying that the crypto markets aren't doing too well... I think it would probably make sense for them to zoom out a bit. As we can see from the 3 month chart, Bitcoin has been consolidating and range bound for the past few weeks, but overall the crypto market has seen a massive run up. For people who were investing deep into the previous bear market... they might be taking some profits right now. Also the macro narrative is about to start changing rapidly as we gear up into the 2024 election cycle. I don't want to make any predictions, but I think this summer has a really high chance of being completely insane.
Market Animal
This week's market animal is a BUNNY (
). We haven't seen a bunny market in quite some time, because they really only emerge deeper into bull markets when things start to consolidate. I could have called this week a crab market, but with Easter being just this weekend, a bunny seemed appropriate. I very much enjoy drawing these little critters, hope you enjoy it too!
I just realized I put a typo in the collection description... but not in the actual nft description. You know what I am really hoping will be possible in the future? To be able to make some sort of meta collection, where you can tie a bunch of open editions and other collections into a single collection of collections. That should be possible with CosmWasm (cosmos webassembly) smart contracts.... but probably kind of confusing to implement.
Speaking of implementation, here's a reminder that we are only currently in year 1 of the implementation phase of the Flarnchain ecosystem. The things I'm doing this year are experiments and building blocks that create the foundation for future initiatives. I find that I learn better by doing, so each time I interact directly by putting stuff out there on blockchains, I'm learning and developing skills that are important for future stages.
Proto Towers
Proto Towers has several collaborators lined up right now, which is super exciting. The current collaboration, by someone named Brady from a cool crypto project called Signal, created this eerie "Meatwood Tower" which I love. It's still currently on auction:
You can click the link above to check it out on Stargaze.
52 Weeks of Huahua
Huahua has been down a lot recently, and is at it's lowest since I started this experiment. I haven't been tracking my purchases of Huahua very much lately, so I'll have to get back on that wagon next week. This week I purchased 1 ATOM worth of HUAHUA, which was about 71.5k HUAHUA. Back a few weeks ago 1 ATOM = 45k HUAHUA, so I'm basically just dollar cost averaging down. I think HUAHUA will have a major test in the next few months... if memecoin season comes to the cosmos, and people start messing around with some of the stuff available to create your own meme coins on Huahua, then I think that could have a major impact in price action.
That's a wrap!
That's about it. I wanted to spend some time talking about Wormhole, Osmosis + Stream Swap + Mad Scientists, and several other things I have my eye on, but I really can't spend much more time writing because it's time for me to go to sleep.
If you read this far, thank you! Hope you have a wonderful rest of your week.
-Flarn
