This is another one of those nights where I would like to sit here and write about something interesting in the realm of crypto, but instead I'm just going to ramble for a bit and cut it short. I apologize to my readers. I owe you more. Next week will be better.
Hi everybody! Welcome to the Flarnchain Newsletter, brought to you each and every week, like an atomic clock. This week I would like to ramble on and on about memecoin mania hittin' the crypto streets, but I just don't have enough time to do that right now. I will say this. I saw something where Dua Lupa, Solja Boy, and Caitlyn Jenner (among many other celebrities) created memecoins for their devoted followers and crypto degens. I also saw that some of these celebrity memecoins were actually rugpulls and scams. I don't really know what to believe or care all that much to be honest, but it's definitely the big story in crypto right now.
The vast majority of these coins were created on the Solana blockchain, which is a super fast, super monolithic blockchain. It's one of the chains that had a lot of traction with Sam Bankman Fried when he was doing his thing (before he went to jail for that), and it has some interesting design choices regarding protocol design. It's fast, cheap to use, and has a very confusing data scheme under the hood. It also uses something called proof of history, which apparently (im not even sure anymore) allows it do have super crazy fast block times. It also shuts down a lot, but people don't really care because it's fast and cheap, and that's really important for people trading pictures of celebrities with cryptocurrencies attached to them,
Anyways, celebrity memecoins are in. Read tiny bit about it here: https://cointelegraph.com/magazine/cailtlyn-jenner-token-scammer-sahil-arora-celebrity-network-leaked-price-list/
Alright I really don't have much time to dive into the overall crypto meta, so I'm just gonna say this. Bitcoin has been flat since last week (about $68k now). Ethereum had an ETF and went up a bit (almost $4k now). The total crypto market is around $2.65 trillion, which is really close to the previous bullmarket all time high. I didn't even look at coingecko.com as I wrote that, so you know... do your own research ya lazy animal.
Because in my opinion, crypto is flat this week (without glancing at a chart, just reading my twitter timeline), this week's market animal is a crab. I'm not gonna draw a crab, I'm just gonna grab a drawing that I made a long time ago:
Alright! That's it for tonight. Hope you had a good one this week, and hope you continue to have a good one for the rest of this week.
Peace out!
Flarn
