Thread by @Momentum_6

💊M6 Daily Bullets💊, Tuesday, September 13, 2022

Oof - a higher-than-expected CPI print really came in like a bucket of cold water on the market. 8.3% YoY, 0.1% MoM vs Expected: 8.1% YoY, -0.1% MoM.

CPI being higher than what economists expected is a sign that the Fed will stay aggressive in raising interest rates n essentially guaranteeing we’ll see a 75 bps rate hike at FOMC next week. #BTC tends to move in the opposite direction of the $ n DYX spiked on today’s CPI news.

This Twitter post is just an excerpt. To catch the full version of today's alpha, check out our Daily Newsletter:

momentum6.substack.com/p/daily-bullet…

1/ Top Crypto News
Financial heavyweights Charles Schwab, Citadel Securities, and Fidelity Investments, and others announced the start of crypto exchange EDX Markets
coindesk.com/business/2022/…

2/ @Doodles has raised $54M at a $704M valuation led by the VC firm of Reddit’s Alexis Ohanian, FTX Ventures

https://twitter.com/doodles/status/1569655759297716228?s=20&t=TTJOnomKyxNAzS4zgykwGg

3/ The number of crypto startups in the latest batch at Y Combinator, the accelerator that gave rise to companies like @Coinbase and @Opensea, has hit a record number despite the global downturn
theblock.co/post/168859/la…

4/ Lending platform @Maker doubled the debt ceiling of its stETH vault this week as it looks to reduce its reliance on centralized stablecoins such as USDC
coindesk.com/markets/2022/0…

5/ @Binance’s BTC-USDT pair is the most liquid trading pair in crypto. Since eliminating BTC trading fees, the pair now accounts for 93% of Tether market activity
t.me/unfolded/14625

6/ Ex-Coinbase manager's brother pleads guilty in first crypto insider trading case
theblock.co/post/169359/ex…

7/ Data

TL;DR: On both the daily and the weekly, people are selling their efferium for buttcoin. Doodles leading NFT volume on the back of that $54M raise. Renga also doing numbers - Floor up 150% in 3 days

8/ Nansen Smart Money Holdings Token Inflow and Outflows:

Inflow: WBTC ($9.4M), USDT ($8.8M), DAI ($2.5M), aWETH ($2.5M), cbETH ($1M)

9/ Outflow: WETH ($24.3M), USDC ($12.1M), MKR ($2M), RPL ($1.4M), APE ($982k)

10/ Inflow (7D): WBTC ($54.6M), aWETH ($45.9M), cUSDC ($29.5M), USDC ($16.4M), MPL ($8.4M)

11/ Outflow (7D): WETH ($105M), cETH ($49.8M), aUSDC ($9.1M), BUSD ($3.4M), MATIC ($3.3M)

12/ Nansen NFT Hot Contracts:

13/ Research
Glassnode - A Rally Off the Bear Market Lows
insights.glassnode.com/the-week-oncha…

14/ What’s Up With #DeFi Before Merge? A Compilation of all the Important Findings from Different DeFi Forums
polygontech.medium.com/whats-up-with-…

15/ Bringing IBC to #Ethereum using ZK-Snarks
ethresear.ch/t/bringing-ibc…

16/ How To Build A Successful Convex
ouroboroscapital.substack.com/p/how-to-build…

17/ Money: The bubble that never pops
anon753.substack.com/p/money-the-bu…

18/ Top NFT News

Magic Eden launches MetaShield to protect #NFT creator royalties. It identifies NFTs listed/traded on marketplaces that bypass creator royalties
help.magiceden.io/en/articles/65…

19/ #NFT marketplace @Rarible partners with Immutable to broaden its gaming NFT offerings
theblock.co/post/169458/nf…

20/ American teen comedy Mean Girls may be making a Web3 comeback, with recent trademark filings by Paramount Pictures revealing plans to expand the brand into “crypto-collectibles”
cointelegraph.com/news/mean-girl…

21/ Luxury sports car developer #Lamborghini is set to roll out its second round of NFTs this month, this time offering specific utility for avid collectors
cointelegraph.com/news/nifty-new…

22/ ​​Web3 native fashion brands hit the runway in real life at NY Fall Fashion Week

cointelegraph.com/news/web3-nati…