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Sep 14 • 26 tweets • 8 min read
💊 M6 Daily Bullets 💊

Wednesday, September 14, 2022

A historic day! Le Et hirium Merde is finally upon us. It should from a developer standpoint be fine - lots of testnets and shadow forks have been successful.
Will we see volatility in price? Perhaps.
1/ Things are currently looking fairly flat with #Bitcoin barely holding $20k and ETH struggling to hold $1600.

It’ll be incredibly interesting to see what the sentiment is like once this big event is finally over.
2/ So many market participants have been hyper-focused on this event.

Also pretty wild about Do Kwon - pretty sad when you remember he named his daughter Luna. Lots of hard learned lessons this year.
3/ This Twitter thread 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…
4/ ⛓ Top Crypto News ⛓

#Merge Countdown: blocknative.com/ethereum-merge…
5/
A South Korean court issued an arrest warrant for Do Kwon, CEO of Terraform Labs, and two other employees
theblock.co/post/169825/so…
6/ Celsius CEO Alex Mashinsky is pushing for a revival of the firm around custodial services
theblock.co/post/169710/ce…
7/ Ethermine, #Ethereum's biggest mining pool will stop its Ethereum mining service once the Merge happens
coindesk.com/tech/2022/09/1…
8/ #BNB Chain is partnering with Google Cloud, aiming to support the growth of early-stage Web3 and blockchain startups
coindesk.com/business/2022/…
9/ Compound Treasury debuts crypto-backed loans for institutional clients - borrowers will be able to put up crypto collateral to secure loans from Compound Treasury at a 6% interest rate
theblock.co/post/170001/co…
10/ @Uniswap Proposal - Deploy Uniswap V3 to zkSync
gov.uniswap.org/t/deploy-unisw…
11/ 📊 Data 📊

On the daily, money flowing into Compound USDC, stETH, USDT and curiously enough SRM (Alameda just bought $5M). Flowing out of USDC, WETH and WBTC. On the weekly looks like mostly going in2 stables n WBTC and flowing out of Et Hirium.
12/ NFT volume low, Doodles volume from yesterday dried up

Nansen Smart Money Holdings Token Inflow and Outflows:

Inflow: cUSDC ($49.5M), stETH ($15.1M), USDT ($11.1M), SRM ($5.2M), aUSDC ($3.4M)

Outflow: USDC ($28.3M), WETH ($14.4M), WBTC ($9.8M), cETH ($6M), aWETH ($1.1M)
13/ Inflow (7D): cUSDC ($79M), WBTC ($30M), USDT ($21M), USDC ($15.7M), stETH ($14.5M)

Outflow (7D): cETH ($44.8M), WETH ($31.5M), aUSDC ($13.4M), AAVE ($3.2M), MATIC ($2.4M)
14/ Nansen NFT Hot Contracts:
15/
• CryptoPunks: 428 ETH

• Otherdeed: 374 ETH

• Anomura Mystery Bowl: 254 ETH

• ENS: 251 ETH

• Doodles: 248 ETH
16/ 🎓 Research 🎓

The Merge - A Deep Dive With Nansen
research.nansen.ai/article/174
17/ Paradigm - Hardware Acceleration for Zero Knowledge Proofs
paradigm.xyz/2022/04/zk-har…
18/ Ethereum is the Better Bet - The Winning Cryptocurrency is Likely to be the One That is Most Used; It’s Not Enough to be “The Hardest Money”
19/ @Chainalysis - The 2022 Global Crypto Adoption Index: Emerging Markets Lead in Grassroots Adoption, China Remains Active Despite Ban, and Crypto Fundamentals Appear Healthy
blog.chainalysis.com/reports/2022-g…
20/ @OpenSea Blog - Why We Don’t Mind the Dip(s)
21/ @Bankless - How to create editioned NFTs
metaversal.banklesshq.com/p/how-to-creat…
22/ 🖼 Top NFT News 🖼

New York’s Museum of Modern Art is considering buying NFTs with some of the proceeds of a $70M Auction
coindesk.com/business/2022/…
23/ Sci-Fi NFT comic book project lays the foundation for CCG development where DAO members vote and decide on the future of the story by minting, collecting and crafting panels and pages of comic book issues
cointelegraph.com/news/sci-fi-nf…
24/ Rentable, an NFT protocol that lets users rent out their jpegs, announced that the protocol will be shutting down after they could not secure funding and “got close to zero traction”
decrypt.co/109676/nft-ren…
25/ Axie: Origins Season 1 starts

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Does our current macro setup resemble that of the crash of 1929, 1940, or 2008?

@BanklessHQ did a podcast with @LynAldenContact discussing the current macro state of the financial markets

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Sep 13
💊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.
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momentum6.substack.com/p/daily-bullet…
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