Week 31 Newsletter: Bitcoin Bounces Back
Crypto Markets Fight Back
Investors seemed to shrug off fears of an economic slowdown on Thursday, with crypto seeing gains across the board.
Today's Issue
Need to Know: Cases Closed
Ripple finds closure, FTX to pay up.Market Vibes: Crypto Fights Back
Bitcoin roars back / AERO rating.Tactic: Short Solana Memecoins
How to bet on memecoin downfalls.Learn: What We're Reading
Our favorite reads of the week.
p.s. Discover Puffer UniFi: The pioneering based rollup with fast confirmations, native yield, and a unified Ethereum ecosystem. Learn more.
NEED TO KNOW
FTX Ordered to Pay $12.7B
FTX & Alameda Ordered to Pay $12.7B to Customers. The order bans both firms from further trading of digital assets.
XRP Pumps As Ripple Trial Ends with $125M Fine. The SEC's planned mega-fine was slashed considerably by a federal judge.
Blast's Top Memecoin Abandons the Chain for Solana. Pacmoon is migrating chains, upset with Blast's team over a lack of support.
. . .
MARKET VIBES
Crypto Fights Back
Daily Market Snapshot: Wall Street rebuked bears on Thursday, with indexes gaining big off of investor fervor over declining jobless claims. Crypto popped, with BTC reclaiming $60K and ETH pushing above $2,600. Both assets were still down on the week, yet are up considerably off of the week's brutal lows.
Prices as of 6pm ET24hr7d
Crypto $2.12T↗ 8.3%↘8.2%
BTC $60,835↗ 9.8%↘6.2%
ETH $2,627↗ 11.4%↘17.2%
AERO $0.72↗ 12.0%↘10.7%
TACTIC
How to Short Solana Memecoins
Bankless Author: William M. Peaster
It's been a volatile week for crypto, and traders have been busy – even memecoin traders.
Dumpy.fun lets you short memecoins to potentially profit from their price declines. In other words, users select a memecoin they believe will drop in value and can apply leverage to increase potential returns, though this also increases risk. Underneath the hood, the platform borrows assets via Save and swaps them using Jupiter, the popular Solana DEX aggregator.
Here's how to get started
LEARN
What We're Reading
Road to Mainnet #2 - Fuel Labs
EIC02 | Summer 2024 - ETH Investors Club
LRTs Beyond the Airdrop Meta - Madhav Goyal
Secure Multi-Party Computation - Brechy
Programmable Cryptography Part 1 - gubsheep
Museums of the Future: Dubai and Tokyo - Vitalik
On DeFi Superapps and Their Bottlenecks - Alana Levin
. . .
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