Welcome to the Flarnchain newsletter, brought to your inbox each and every week like an atomic clock. This week is not really going to be much of a newsletter, but rather, similar to last week, a checking of the box. I have been publishing this newsletter each and every week for 172 weeks in a row, and I have not taken a single week off. HOWEVER, sometimes, like tonight (and seemingly more frequently), I'm getting started on this thing later and later.
I apologize for that, but it just happens to be a situation where there's not enough hours in the day. I need to get back into the habit of writing some paragraphs on a topic in crypto during the week, so I can just copy and paste them right in here.
Regardless of the above, let's cover a couple things that happened this week:
There was a big vote on a crypto bill in US politics. The bill, called FIT21, included a more substantial regulatory framework for crypto than has existed in the past. It passed int he Senate with a narrow margin, which markets responded positively to, albeit... the response was somewhat lukewarm.
Bitcoin pushed above $70k for the second time this cycle, and the second time ever earlier this week. Currently the price of Bitcoin is hovering around $69k. nice
There was some cosmos drama this week - this time relating to some of the more modern "modular" blockchains that are part of the cosmos network. There's three in this category: Celestia ($TIA), Saga ($SAGA) and Dymension ($DYM). All three do somewhat different things, but have very similar token distribution models and have had similar price action (down only). It's a bit complex to explain, but the major reason for the drama has been the way insider's locked tokens were still able to earn staking rewards, and that the staking rewards were not locked. So these chains are essentially just a few insiders dumping their tokens on retail holders. As more and more retail holders become hip to this reality, they sell, continuing the downward spiral in price.
I don't really have much more energy to write anything, so I'm going to just post a picture of the Bitcoin chart and then use Midjourney to AI generate a market animal this week.
Okay and this week's market animal is definitely a bull. Since I still haven't launched the Puppy Cerberus collection, we are still doing three headed animals. Probably for the next couple of months we will be seeing more three headed animals. For this one, since last week was a bullberus as well, this one will be a bullberus breathing fire. Please, midjourney, dont let me down
10 minutes later....
Okay so Midjourney cannot generate a three headed bull. Looks like I'll just need to plagiarize my own work:
The above image will not be minted as a market animal nft. We will just skip this week.
That's it for tonight. I need to get some sleep now.
Hope you all have a wonderful rest of your week.
Cheers!
-Flarn
🤘🤘
