Longtail Report

Crypto Stays Strong Amidst the Chaos

Longtail Report — Mon, 12 Jun 2023 17:57:28 GMT

Mr. Longtail’s Diary

Dear Readers,

Don’t we all want the chaotic times for crypto community to finally end? However, as this week’s Motivational Corner reminds us, chaos creates opportunity.

So let’s dive in and see what’s up in the crypto world!

P.S. Please note that from now on, you will have your favourite crypto newsletter on Mondays. The new schedule will help you start your week energized and well-informed!

All the best,

Mr. Longtail

This week’s tasty snacks:

🧀 - Market Outlook

🧀 - Hot News: Crypto Resilient Amidst the Latest SEC Scrutiny

🧀 - Project Review: Eigen Layer: Staking On Steroids!

🧀 - Those Sweet, Sweet Memes!

🧀 - Your Favourite Motivation Corner!

Market Outlook

In a tumultuous week for digital asset regulation, the US SEC charged Binance and Coinbase for securities violations. The charges involve listing unregistered securities and violating securities laws with earn and staking services. Binance faces additional allegations of wash trading and commingling customer funds. The news led to a market decline, with ETH down 5.4% and BTC down 6.8%. ETH further dropped by 8.2% by the end of the week. We'll focus on the investor response by analyzing exchange activity for any negative sentiment shifts.

Binance witnessed significant coin outflows following the recent headlines. Over the past week, investors steadily withdrew assets, resulting in a 20.9% decrease in aggregate stablecoin balances (over $1.6 billion). BTC and ETH reserves also declined, albeit less drastically (5.7% and 7.1% respectively).

It's worth noting that Binance still holds substantial BTC and ETH reserves, but its stablecoin reserves have plummeted by 75% since November 2022, primarily due to prior SEC complaints against BUSD.

In comparison, Coinbase experienced relatively minor changes in net reserves. Stablecoin balances remained stable, while BTC balances decreased by 2,300 BTC (0.5% of total). However, there was a significant decline of 291,000 ETH (around 8% of total balance), indicating a stronger response from investors, potentially related to concerns about Coinbase's staking services.

Analyzing aggregate deposit volumes reveals distinct investor groups and their reactions to the news:

🔴 Short-Term Holders (STHs) represent 76.4% of deposit volume (23.0k BTC)

🔵 Long-Term Holders make up only 1.9% of deposit volume (570 BTC)

🟢 Inter-Exchange Transfers account for 21.7% of deposit volume (6.53k BTC)

Historically, STHs contribute around 60% of deposit flows, indicating that recent buyers have been the most active this week. Inter-exchange flows typically make up about 35%, suggesting that investors on the margin prefer self-custody rather than transferring coins to other exchanges.

US regulators continue to display hostility, charging major exchanges Binance and Coinbase. Customers have shown concern, leading to declines in asset balances on these exchanges. However, these declines are within typical patterns, and the reaction from long-term holders suggests limited surprise. Many recent BTC buyers have sent their coins to exchanges, possibly for sale, to reduce risk. It remains to be seen how investors will respond as the lawsuits unfold.

Latest News

Crypto Resilient Amidst the Latest SEC Scrutiny

Bitcoin's resilience in the face of regulatory scrutiny and market challenges has prevented a significant dip in its price. Despite U.S. regulators targeting major crypto exchanges and labeling several altcoins as securities, Bitcoin has managed to open the Asia trading week with a modest 0.4% increase, reaching $25,912. In contrast, Ether has experienced a slight decline, currently valued at $1,748. Despite the difficulties, Bitcoin has displayed resilience, with limited selling interest observed for both Bitcoin and Ether.

Joe DiPasquale, from BitBull Capital, highlighted that Bitcoin's support level at $25,000 is holding up reasonably well.

Hack on Venus Protocol

Venus Protocol, an integral part of the BNB Chain ecosystem, is currently facing a critical situation involving a significant Binance Coin (BNB) loan position owned by a hacker. The hacker, responsible for executing a massive breach on the BNB Chain in October last year, has utilized Venus Protocol to borrow stablecoins amounting to $150 million.

The hacker managed to leverage their stolen BNB to secure a loan, which has resulted in a substantial position of 900,000 BNB, equivalent to approximately $210 million.

The BNB Chain team wants to take control of the position if the price of BNB reaches the liquidation threshold to minimize the potential adverse effects on the market.

Bitcoin and Ether Reserves Decline

According to a research report from CryptoQuant, U.S.-based exchanges have witnessed a decline in the amount of Bitcoin they hold on behalf of their customers. This drop has led to U.S. exchanges being surpassed by offshore and international exchanges in terms of custodial Bitcoin amounts. The report highlights that Bitcoin reserves on U.S.-based exchanges are currently at their lowest level since January 2017.

The decline in crypto reserves suggests that users may be withdrawing their holdings from these exchanges. This withdrawal trend could be attributed to concerns over security or a preference for holding funds in private wallets, where users have more control over their assets.

Users Are Leaving Centralised Exchanges

The Legitimate Volume Index from The Block Research shows a significant drop in trading volumes on centralized exchanges during the month of May. The total trading volume recorded for the month amounted to $307.4 billion, representing a substantial decline of 23.2% compared to April. This figure also marks the lowest monthly trading volume observed since November 2020.

The declining trading volumes suggest that users are increasingly moving away from centralized exchanges, potentially seeking alternative trading venues or adopting different strategies for their cryptocurrency holdings. This trend can be seen as a response to the regulatory uncertainties surrounding centralized exchanges and a desire for more control over their digital assets.

Binance CEO Changpeng Zhao Replies to Allegations

Analytics platforms Nansen and DefiLlama have recorded notable increases in exchange outflows from Binance over the past week, following the news of the Securities and Exchange Commission's lawsuit against the company.

Nansen's data reveals a net outflow of $2.36 billion from Binance during the seven-day period, accompanied by an additional $123.7 million flowing out of Binance.US. Meanwhile, DefiLlama reports a more substantial figure of $3.35 billion in outflows from Binance. Glassnode data highlights a 5.7% decline in Binance's BTC balance, amounting to approximately $1 billion, over the same seven-day period.

Binance CEO Changpeng Zhao suggests that there may be alternative interpretations of the outflow data. While acknowledging the increased outflows, he maintains that these numbers should be analyzed in the broader context of Binance's overall operations and user base.

Project Review

Eigen Layer: Staking On Steroids!

EigenLayer is an Ethereum protocol that introduces a new cryptoeconomic security primitive called restaking. This protocol enables users to restake their ETH, extending security to additional applications on the network.

Summary: EigenLayer is built on Ethereum and introduces restaking as a new primitive in cryptoeconomic security. Users who stake ETH can choose to restake it through EigenLayer smart contracts, providing security to more applications on the network. EigenLayer's potential lies in aggregating and extending cryptoeconomic security by enabling restaking and validating new applications on Ethereum.

Overview: Cryptoeconomic security has been a challenge in Web3, and fragmented security is a particular issue on the Ethereum network. Middleware and non-EVM applications on Ethereum generate their own trust networks, which is inefficient and resource-intensive. EigenLayer addresses this by introducing the restaking primitive. Users can repurpose their staked ETH to extend security to other applications. EigenLayer acts as a middle layer where users grant additional enforcement rights to restake their ETH on other applications. This opt-in feature introduces slashing conditions that persist above the consensus layer, allowing for extensible security. EigenLayer can restake ETH on additional applications while enforcing honest behavior and disincentivizing malicious behavior through slashing conditions. In this way, staked ETH can provide validation services beyond Ethereum itself.

Cool project, huh? Well… There might be some responsibilities coming your way…🪂

Step-by-Step Guide to Restaking on EigenLayer Testnet:

Visit the EigenLayer testnet page.
Connect your Metamask wallet.
Change the network to Goerli.
Obtain stETH and rETH tokens.
- Get Goerli ETH from this faucet.
- Send Goerli ETH to the Lido's stETH token contract address "0x1643E812aE58766192Cf7D2Cf9567dF2C37e9B7F". You will receive Lido's stETH automatically after the transaction is complete.
- Visit the Rocket Pool testnet page and stake your Goerli ETH to obtain Rocket Pool's rETH.
Now you have both Lido's stETH and Rocket Pool's rETH testnet tokens.
Return to the EigenLayer testnet page.
Select "Rocket Pool ETH" and stake your rETH.
Select the "Lido Staked Ether" pool and stake your stETH.
For more information about the testnet, refer to this article.
Please note that EigenLayer does not have its own token yet, but there is a possibility of launching one in the future. Early users who have completed the testnet actions may be eligible for an airdrop if EigenLayer decides to launch their own token.
It's important to note that there is no guarantee of an airdrop or the launch of EigenLayer's own token. This is purely speculative.

Please proceed with caution and stay updated on any announcements or developments from EigenLayer. Read more at: Eigenlayer

Meme of the Week

Mr Longtail’s Motivation Corner

Quote and Book of the Week

‘In the midst of chaos, there is also opportunity’. - Sun-Tzu

‘Principles’ by Ray Dalio

By recognizing the potential opportunities that can arise from chaos and approaching it with the right mindset, we can navigate uncertain times more effectively while embracing new possibilites.

Embracing Change: Chaos is usually preceded by big changes. However, when we are open to change and adaptable can find innovative solutions or create new paths to success.
Creative Problem-Solving: When faced with disorder or uncertainty, we have the opportunity to think outside the box, explore new perspectives, and challenge the status quo.
Market Disruption: Chaotic periods can create disruptions in the market or industry, opening up opportunities for new entrants or for established players to reinvent themselves.
Personal Growth: When faced with adversity or uncertainty, we definitely struggle. Nevertheless, these difficult experiences can shape our character and expand our capabilities.
Systemic Change: Chaotic periods can also create an impetus for broader societal or systemic change. Thus, they can be catalysts for progress and a reimagining of existing systems.

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Are We In A Bull Market?

Longtail Report — Fri, 26 May 2023 17:14:26 GMT

Mr. Longtail’s Diary

Dear Readers,

Looong time no see! I hope you will forgive me for my absence. Life happened and I found myself in a chaos of moving places.

I would say I definitely upgraded in terms of quality of living. Instead of a small rental pantry that I shared with other, equally competitive mice, I am proud to call myself a pantry owner now. However, the journey to get there has been nothing but humbling and challenging. That being said, I feel #blessed and #grateful that hard work, dedication and sacrifice paid off.

Going forward, my team and I will do our best to never leave you without the Longtail Report for so long!

Let’s manifest the bull market together!💥

This week’s tasty snacks:

🧀 - Market Outlook

🧀 - Hot News: Bitcoin at Crucial Juncture as Analysts Monitor Key Price Metrics

🧀 - Project Review: Smilee Finance

🧀 - Those Sweet, Sweet Memes!

🧀 - Your Favourite Motivation Corner!

Market Outlook

Get ready for a wild ride in the Bitcoin market! The on-chain volume has taken a plunge, indicating less demand and a dominance of small transactions. Let's dive into what this means for investor confidence and the outlook for 2023. (source: glassnode)

Volume Dip: Hold on tight! The overall economical throughput has dropped significantly since early 2021. Exchange deposit volume has also hit a low, suggesting less trading and investor enthusiasm. Holders are playing it safe, as realized profit and loss events are at their lowest levels in three years. They're holding on to their gains (or losses) and not spending much.
Lack of Spending Thrills: The low volume could be due to holders having a cost basis close to the current price. It means they don't have much incentive to spend their Bitcoin just yet. The Adjusted Realized Price, a fancy term excluding dormant coins, confirms that there's not a lot of profit or loss to be had. We need some excitement in the market to tempt holders to splash their crypto cash.
Holders' Fearless Stance: Brace yourself! Existing Bitcoin holders are a fearless bunch. They remain confident despite the crazy ups and downs of the past. They're like survivors of a wild ride, waiting for higher prices before jumping off. The growing stash of dormant coins shows they're in it for the long haul and not easily shaken.
Dormant Bitcoin Horde: There's a secret hiding place for Bitcoin: the dormant supply. It keeps growing like a hidden treasure. A significant chunk of the circulating supply remains inactive, adding to the low on-chain volume. Holders are hoarding their crypto gems, reluctant to spend them.

Conclusion: Welcome to the Bitcoin rollercoaster! It's a thrilling journey with consolidation, low volume, and reduced trading action. The current holders show unwavering confidence and seem unbothered by price fluctuations. With limited volume and more coins going dormant, there's a lack of new excitement. Survivors of the 2022 market may need higher prices to hop off the ride and consider cashing out their Bitcoin. Hold on tight, as the rollercoaster continues its wild journey!

Latest News

Tether’s Diversification Plan Starts with Buying Bitcoin

In a recent interview, Paolo Ardoino, the Chief Technology Officer of Tether and Bitfinex, revealed the company's treasury management strategy and discussed their recent bitcoin acquisitions, as well as their intentions for the remarkable $1.5 billion profit generated in the first quarter of this year.
Ardoino emphasized Tether's commitment to adapt and diversify in response to their recent profitability, stating, "The beauty of our upcoming plans lies in the opportunity to expand beyond our core stablecoin offering and evolve into a comprehensive tech provider.”
The market cap of USDT has defied the bear market, soaring close to its historical peak at $84.1 billion.
Read more at: https://www.theblock.co/post/232194/paolo-tether-diversification

Milady NFTs Price Correction Following Elon Musk's Tweet

The highly sought-after Milady NFT collection has witnessed a retracement in prices after a surge triggered by a tweet from Elon Musk, resulting in top holders of LADYs meme coins enjoying substantial unrealized profits in the millions.
The Milady collection garnered significant attention in May when Elon Musk, the owner of Twitter, posted a tweet featuring a Milady avatar adorned with the words, "There is no meme, I love you." The tweet propelled the NFT collection to new heights, with each NFT being traded for 3.4 ether (ETH) at the time.
The prices of the Milady NFT collection have reverted to levels prior to Musk's tweet, with each NFT plummeting to as low as 3.2 ether per NFT on Thursday, erasing the earlier rise.
Read more at: https://www.coindesk.com/markets/2023/05/26/milady-nfts-get-dogecoin-treatment-as-prices-retrace-days-after-elon-musk-tweet/

Bitcoin at Crucial Juncture as Analysts Monitor Key Price Metrics

Bitcoin has arrived at a pivotal "decision point" for its price trajectory, although current market dynamics are dominated by speculators, according to a recent analysis by Glassnode. The on-chain analyst, known as Checkmate, took to Twitter on May 26 to highlight the brewing showdown in Bitcoin's price.
Glassnode warns that Bitcoin bulls are currently inactive, while the rapid decline in profitability for short-term sellers poses a challenge. Throughout this month, BTC/USD has struggled near significant trend lines, leading to growing concerns among long-time market participants.
As downward price predictions circulate, on-chain analysts are increasingly focusing on short-term holders (STHs) to gain insight into the potential future direction of Bitcoin's price. These STHs, defined as entities holding coins for 155 days or less, are now approaching "reset levels" after a period of heightened optimism, as previously reported by Cointelegraph.
Read more at: https://cointelegraph.com/news/bitcoin-reaches-decision-point-4-btc-price-metrics-to-watch

Binance and Gulf Innova Collaborate to Introduce Crypto Exchange in Thailand by Q4 2023

Binance is joining forces with Gulf Innova, its Thai partner, to establish a new crypto exchange in Thailand. Binance has now obtained regulatory approvals in Thailand to further broaden its presence in the cryptocurrency market.
Under the name Gulf Binance, this joint venture aims to launch the new digital asset exchange in Thailand during the fourth quarter of 2023.
This collaboration will leverage Binance's expertise in digital assets and Gulf's extensive knowledge of the Thai market. The two companies have been working closely for over a year, exploring opportunities to establish a local digital asset exchange that caters to the specific needs and demands of Thai investors.
Read more at: https://cointelegraph.com/news/binance-thailand-crypto-exchange-with-gulf-innova-to-launch

Cathie Wood Warns of U.S. Losing Bitcoin Movement Due to Regulatory System

During Fortune's Most Powerful Next Gen conference, Cathie Wood, the founder of ARK Invest, expressed concerns about the United States falling behind in the Bitcoin movement due to its regulatory system. Wood highlighted the shifting center of gravity in the cryptocurrency industry away from the U.S., citing the example of Coinbase (COIN) obtaining licenses to operate in Bermuda while actively seeking expansion in Singapore.
Wood also referenced significant events that underscore the significance of Bitcoin's concept: "The reason it’s adopted is, first of all, many people like the idea of a decentralized, transparent, auditable monetary system. It was born out of the 2008/2009 crisis when people just lost all trust in financial services," Wood explained. "And, very interestingly, it took another two crises within the last year to prove the concept. FTX failed because it was centralized, opaque, and not auditable."
Read more at: https://www.coindesk.com/policy/2023/05/23/us-is-losing-the-bitcoin-movement-cathie-wood/

Project Review

Smilee Finance

Smilee Finance introduces a groundbreaking concept in the world of decentralized finance (DeFi) by offering the first primitive for Decentralized Volatility Products (DVPs). By redefining Impermanent Loss as a portfolio of options, Smilee transforms a notorious risk into a feature. The protocol enables the creation of volatility-based products and strategies, bringing convexity to DeFi.

What Is Smilee Finance?

Smilee leverages decentralized exchanges (DEXs) to access ample liquidity and a diverse set of assets, overcoming the liquidity challenge faced by options AMMs and other on-chain volatility products. With its innovative approach, Smilee empowers on-chain derivative solutions and paves the way for the products of tomorrow.

First and Foremost: Be Careful

However, it's important to note that, like any DeFi protocol, Smilee carries inherent risks, and users should exercise caution when engaging with the platform. Overall, Smilee Finance presents an intriguing solution that has the potential to revolutionize the DeFi landscape by introducing decentralized volatility products.

want to know more? check out technicalities below:

https://medium.com/smilee-finance/smilee-the-first-primitive-for-decentralized-volatility-products-dvps-9a7584b13d42

Meme of the Week

Mr Longtail’s Motivation Corner

Quote and Book of the Week

“Your identity emerges out of your habits'“, from Atomic Habits by James Clear

5 Powerful Daily Habits to Improve Your Life

Establish a workout routine. 💪🏼
Eat according to the Intermittent Fasting rules. ⏳
Practice gratitude daily. 🙏🏽
Take care of yourself and dress nicely, even (or especially ;) if you work from home. 👒 🎩
Spend quality time with your loved ones and friends. 🤗

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Crypto Narratives for 2023

Fri, 17 Feb 2023 17:31:30 GMT

Mr. Longtail’s Diary

Dear Readers,

Here is your favorite mouse dedicated to bringing your the most relevant crypto news & trends. Every week on Friday, carefully curated just for you.

As you all, I am waiting for the magical bull market, when I will regain respect from my friends and family. Meanwhile, let’s dive into the crypto market and see what’s up because portfolio won’t grow itself!

Take care,

Mr. Longtail 🐭

This week’s tasty snacks:

🥬 - Market outlook: Crypto Narratives for 2023!

🧀 - Hot News: Binance moving 400mln$, SEC vs. Kraken, Ethereum Shanghai Explained

🧀 - Project Review: Koru DAO: The Decentralized Social Media Experiment

🍰 - Those sweet, sweet memes!

🍓 - Your favourite motivation corner!

Market Outlook

Crypto Narratives for 2023!

2022 was the roughest year in the history of crypto. Megalomaniacs like SBF and Do Kwon stole the spotlight. Everyone has been paying attention to them, but it's important to weed out these toxic characters. However, it shouldn't take us away from the potential, and the core crypto thesis remains unchanged. In 2023, these are the 9 narratives that we should be paying attention to:

1. Tokenizing Real World Assets

In order to mature as an industry, we need to integrate with the "real world." Tokenizing real-world assets unlocks cashflow that's not affected by crypto's volatility. Real estate, art, loyalty programs, and more can benefit from transparency, capital efficiency, and improved liquidity. MakerDAO, Centrifuge, Maple Finance, and Goldfinch are some of the projects that have made meaningful progress in this area.

2. AI

The convergence of cryptocurrency and artificial intelligence (AI) is a captivating domain of advancement. The emergence of blockchain technology and the ascent of decentralized finance (DeFi) have opened up novel possibilities for AI to facilitate crypto transactions that are more efficient and secure. Projects such as AGIx, OCEAN, FET, NMR or RLC could potentially do well if they reach adoption.

Even though a huge chunk of the AI coins is a cash grab, we belive it will be an interesting sector with a lot of innovation.

3. NFT Financialization

NFTs are going to be a multi-billion dollar asset class, but that asset class will need financial plumbing. DeFi x NFT is about unlocking NFT's liquidity and turning them into productive assets. Nftperp and Insert Finance are some of the projects leading the next wave of NFT financialization.

4. Zk-rollups

Zk-rollups will enable dApps that were previously impossible. Important projects to watch include Scroll, zkSync, Starkware, Aztec Network, and Polygon Miden & Hermez. Many consider zk-rollups to be the superior tech, but due to the technical complexity, it will take years for zkRollups to be fully deployed and mature.

5. Arbitrum

Arbitrum (Optimistic rollup) is crushing it now, and every new DeFi innovation is happening here. All the TVL from VC layer 1 chains keeps migrating towards Arbitrum. You can participate in Arbitrum Odyssey, use various dApps to get an airdrop one day, or keep an eye on new protocols launching.

Celestia is the first modular blockchain, and you can think of it as the Amazon Web Services of blockchain. It will lower security costs and make launching a blockchain as simple as a smart contract. And these blockchains will be customizable and sovereign.

6. The Perps War

Decentralized perps found product/market fit last year, and FTX's death gave it a rocket boost. Although it feels saturated as a DeFi degen, they've barely penetrated the market. Important protocols to watch include dYdX, GMX, Gains Network, Kwenta by Synthetix, Perpetual Protocol, and Futureswap.

7. Metaverse

The metaverse is not just a game; it's a social experience that mirrors the real world. Blockchain will play a key role in the metaverse, as it will bring security, interoperability, and asset ownership to this new realm.

8. Cross-chain Bridges

Cross-chain bridges are the key to unlocking the full potential of blockchain. Bridges allow assets to flow freely between different blockchains, unlocking new possibilities for DeFi and NFTs.

9. DAOs

A DAO (Decentralized Autonomous Organization) is a type of organization that operates on a decentralized network, typically a blockchain. It is run through a set of rules encoded as smart contracts, which allow for decision-making and management of funds without the need for a central authority. In a DAO, members have a say in decision-making and can vote on proposals that determine how the organization functions. DAOs can be used for a variety of purposes, such as managing decentralized funds, creating decentralized applications, or governing decentralized networks. We expect a lot of innovation on the side of DAOs.

Latest News

Binance moving 400mln$

Reuters has reported that Binance, the global cryptocurrency exchange, had secret access to a bank account belonging to its purportedly independent US partner, BAM Trading, and transferred over $400m from the account to a trading firm managed by Binance CEO Changpeng Zhao.

The transfer of funds from BAM Trading's account at California-based Silvergate Bank began in late 2020, according to company messages. It is unclear whether any of the money belonged to Binance.US customers, and the report has raised concerns that the global exchange is controlling the finances of Binance.US.

Find out more at Reuters

SEC going after Do Kwon

The U.S. Securities and Exchange Commission (SEC) has accused stablecoin issuer Terraform Labs and its founder Do Kwon of transferring over 10,000 bitcoin worth millions of dollars to a Swiss bank account following the enterprise's collapse in May last year.

The SEC has filed a suit against the company and Kwon for misleading customers on several issues, including the sale of unregistered securities. The complaint alleges that Terraform and Kwon transferred bitcoin from platform accounts to an un-hosted wallet and then to a Swiss bank where it was converted to cash. Since June 2022, over $100 million has been withdrawn from the Swiss bank account.

The collapse of Terraform Labs wiped out over $40 billion in combined market value, and authorities in South Korea have frozen funds suspected to be tied to Kwon.

Find out more at CoinDesk

Ethereum Shanghai Upgrate Explained

The Ethereum Shanghai upgrade, also known as the Ethereum Shanghai fork, is a significant upgrade to the Ethereum blockchain that is expected to take place around mid-March 2023. This upgrade will roll out five Ethereum Improvement Proposals (EIPs), with EIP-4895 likely to be the most prominent one. This EIP will allow users to withdraw staked Ether (ETH) and unlock their staked Ethereum, which has been locked for around two years since the staking market emerged.

The upgrade is expected to have economic implications for various stakeholders, including Ethereum users, traders, and investors. For Ethereum users, the Shanghai upgrade aims to address some of the long-standing issues of poor user experiences, high gas fees, and slow transactions. The upgrade will introduce EIP-3855, which should help improve transaction speeds, and EIP-3860, which hopes to reduce transaction costs. These improvements should help improve network usage across DeFi and NFTs, as some of these ecosystems were affected by high gas fees and slow transactions.

For traders, the Shanghai upgrade could have an impact on price action. The previous Ethereum upgrade in 2022 created good volatility in the market, which traders were able to capitalize on. Ether supplies on exchanges have already started to plunge as investors choose to move their assets to self-custody. With exchange supplies of Ether plummeting fast, traders may see yet another spike in price leading up to the Shanghai upgrade. However, short-term traders might want to note the fall in Ether’s price since the Merge was pushed in 2022. This upgrade may not be too different.

For investors, the Shanghai upgrade has the potential to impact the price of Ether. If some of the 16.4 million ETH staked is withdrawn and hits the market, it could increase the supply of Ether and bring prices down right after the Shanghai upgrade is complete. However, ETH withdrawals will only be available in small chunks, which could mitigate downside risks to Ether prices. Nonetheless, the fear of increased supply is something that could hurt market sentiment in the short term.

In summary, the Ethereum Shanghai upgrade is an important milestone for the Ethereum blockchain, with the potential to improve the user experience, lower transaction costs, and increase the network's overall usage. However, the upgrade could also have short-term economic implications for various stakeholders, with the potential for increased price volatility and downward pressure on Ether prices due to increased supply.

SEC vs. Kraken

The recent settlement between the United States Securities and Exchange Commission (SEC) and crypto exchange Kraken has raised concerns that the regulatory body may be about to launch a wider assault on the crypto industry.

The SEC's action came about because Kraken had sold unregistered investment products, with the returns advertised on staking crypto reaching 21%, the agency said. Critics of the SEC, however, say that registration of staking program securities is more complex than just completing a form on the regulator's website.

The SEC's actions against Kraken may have been intended to act as an example to other firms that were promoting staking, but not all industry insiders believe Ethereum and other blockchain networks are in danger.

Gamer who won an NFT tries to sell it for $3.7 million

A gamer won the top prize in Yuga Labs' Dookey Dash game and is now selling the NFT for $3.7 million. The NFT is a key that can be used for a token-gated mission by the Bored Ape Yacht Club and CryptoPunk parent company. Gamers who held Bored Apes’ “Sewer Pass” NFTs were able to play the Dookey Dash video game for three weeks, and the pro Fortnite gamer known as Mongraal won the game, taking the prize.

The NFT is currently listed for 2,222 ETH on OpenSea, with the highest offer being 10% of the proposed price, at 222 ETH.

Find out more at TheBlock

Project Review

Koru DAO: The Decentralized Social Media Experiment

Koru DAO is a revolutionary social media experiment that is owned and controlled by a decentralized autonomous organization (DAO). It is the first social media account that is truly decentralized and DAO-owned. Here’s what you need to know about this exciting project.

Koru DAO is the first social media account that is truly decentralized and DAO-owned. It operates through NFTs that give the holder the ability to post via the shared Lens account @KoruDAO once every 12 hours.
The vision of Koru DAO is to become the largest account on Lens, a social media platform. The more followers Koru DAO receives, the more valuable it becomes. The higher the quality of the Koru DAO content, the more valuable it becomes.
To grow to become the largest account on Lens, NFT holders need to coordinate and post high-quality content that attracts others to follow Koru DAO and join the community.
Koru DAO is built on smart contracts that can evolve over time. Community members can establish a governance structure that prevents spammy or promotional posts from getting through. Only if certain companies pay Koru DAO will they be able to publish a post.
Koru NFTs have utility as they give you the ability to post via the KoruDAO lens account once every 12 hours. Additionally, Koru DAO earns revenue from NFT resales (5% per trade), which the DAO will be able to vote on what to do with.
Koru DAO is an exciting social media experiment that could potentially revolutionize the way social media is owned and controlled. If you're interested in being a part of this groundbreaking project, head over to their Discord!

Find out more at korudao.xyz!

Memes of the Week

We All Know They Are Coming To Pump Our Bags!

Why Whales Are Always So Mean???…

#Crypto #altcoin #cryptoworld #Bitcoin \n","username":"LetsCryptoMemes","name":"Crypto Memes","profile_image_url":"","date":"Sat Feb 11 12:37:20 +0000 2023","photos":[{"img_url":"https://substackcdn.com/image/upload/w_1028,c_limit,q_auto:best/l_twitter_play_button_rvaygk,w_88/okpohiqhsv5kkfxq6evq","link_url":"https://t.co/PLjsGjX47L","alt_text":null}],"quoted_tweet":{},"reply_count":0,"retweet_count":62,"like_count":147,"impression_count":0,"expanded_url":{},"video_url":"https://video.twimg.com/ext_tw_video/1623561466183045122/pu/vid/540x540/_Rq9wVbvAHGb0Xdc.mp4?tag=12","belowTheFold":true}" data-component-name="Twitter2ToDOM">

Happy Valentines Day!

Mr Longtail’s Motivation Corner

Quote of the Week

„The most important decision you make is to be in a good mood.”

Voltaire

Book of the week

“Becoming Bulletproof: Life Lessons from a Secret Service Agent” by Evy Poumpouras

How to make the decision to be in a good mood? Five easy steps.

The first advice is actually derived from the iconic Sheldon Cooper himself: get yourself a hot beverage. Hot tea or chocolate, s'il vous plaît!☕️

Treat yo self. Order that pizza, buy these shoes. There are days when we need an emotional blanket of safety and security. Sometimes the blanket is free and we can take it from our bed. Sometimes the blanket is more expensive (shoes) or gives us additional calories to deal with later on (pizza).🍕

Take a nap. Sleep is a magical remedy for everything. It clears our mind and strengthens our body. Not feeling great can be cured by some extra hours of sleep.😴

Watch your favorite show. Quite self-explanatory.📺

When you will feel better go back on track! Get back to your healthy eating and working out routine. Remember that a weaker day or even a weaker week doesn’t define you! Life is made of seasons and if you give yourself enough grace, you will have more good seasons than bad.💪

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SEC Crackdown On Crypto?

Fri, 10 Feb 2023 15:07:16 GMT

Mr. Longtail’s Diary

Dear Readers,

Yes, it’s this time of the year – the controversial yet celebrated Valentine’s Day is almost here! 💘 I am wondering if we can count on some love from the crypto market or rather a cold treatment.

What do you think?

Sending you lots of love! ❤️❤️❤️

Mr. Longtail 🐭

This week’s tasty snacks:

💝 - Market outlook: UP or Down? Both cases for $BTC

💝- Hot News: SEC Crackdown On Crypto

💝 - Project Review: Vovo Finance

💝 - Those sweet, sweet memes!

💝 - Your favourite motivation corner!

Market Outlook

As they often say: “Stairs up, elevator down…”

UP or DOWN? ☝️👇

The year 2022 has been a challenging one for the cryptocurrency market, including Bitcoin, which has lost approximately 65% of its market value. This was due to several unfortunate events such as the Terra Luna crash, the fall of the largest crypto exchange FTX, and the uncertain macroeconomic conditions. As we move into 2023, the question on everyone's mind is what will happen next to the largest cryptocurrency in the world? Will it recover or will it continue to crash like in 2022?

In this text, we will explore both the bullish and bearish views on Bitcoin's future in 2023.

Bullish View 🐂

Bitcoin is currently trading at around $23,000, which it first crossed on January 21, 2023 after six months of stability. At the time of writing, the daily trading volume of Bitcoin is around $21.8 billion. Despite its reaction to every move of the Fed meeting, pro-investors are optimistic about Bitcoin's future and are looking for it to stabilize beyond the $23,000 level.

Positive signals were observed when Bitcoin crossed the crucial level of $16,800 and showed a bullish trend. Currently, the technical indicators are as follows:

Hourly Moving Average Convergence/Divergence (MACD) is gaining pace in the bullish zone
Hourly Relative Strength Index (RSI) for BTC/USD is above 85
Support levels: $22,700
Resistance levels: $22,900

Experts are bullish on Bitcoin as the year 2024 marks the next Bitcoin halving event. The halving happens every four years, where the rewards to miners are cut in half, reducing the miner's payout to 3.125 BTC. Historically, halving has been seen as a positive sign for Bitcoin's price as it helps to contract supply. The limited supply of Bitcoin, being a decentralized cryptocurrency, cannot be printed by governments or central banks, making it a deflationary asset.

Another reason for the bullish view is the recent less aggressive rate hike of just 25 basis points by the US Fed, which has helped Bitcoin maintain its rising trajectory and outperform other asset classes. Additionally, large investors, known as "Bitcoin Whales," have started accumulating BTC once again. According to Santiment, the Bitcoin whales are holding between 1,000-10,000 BTC in their wallets, which could indicate a recovery in Bitcoin's price.

Bearish View 🐻

On the other hand, some investors, corporates, and large institutions hold a bearish view on Bitcoin and believe that it might fall in the near future. They see this rally as a major "bull trap" rather than a "bull run." For example, billionaire investor Mark Mobius predicted a huge fall in 2022 and believes that Bitcoin could even fall to the $10,000 range.

Similarly, Matthew Sigel, head of digital assets research at VanEck, a global investment manager, predicts that Bitcoin will drop to $12,000 levels due to higher energy prices. Global bank Standard Chartered also surprised the market with their prediction that Bitcoin could fall to $5,000 levels in 2023.

Experts believe that the rising interest rates and tighter monetary policy will not allow Bitcoin to rebound sharply in the near future. In uncertain markets, investors tend to shy away from risky assets like Bitcoin, and those who have been holding it may sell their positions, causing undue pressure on the market.

Conclusions

In conclusion, there are various views and predictions on Bitcoin's future, but only time will tell where it will head. Despite its ups and downs, Bitcoin has shown its resilience over the past decade and has helped investors make substantial fortunes. We are long!

Latest News

SEO Crackdown on Crypto?

‘The Securities and Exchange Commission’s charges and subsequent settlement with exchange Kraken over its staking service on Thursday signal a new step for the regulatory agency’s crypto crackdown.

Some called it a step in protecting investors, while others said it would move business offshore.’

Find out more at theblock.co

Paris Hilton and Her Metaverse Dating Project

‘Beginning February 13, players entering Parisland will be able to virtually meet five other players, complete quests, and ultimately choose a partner.

According to a statement, the gamified experience is being billed as an “imaginary reality show” in the metaverse. Besides hitting on random strangers online, activities in Parisland include shopping for outfits, selecting wedding rings, investigating a secret inside a burger (yes, really), and “rescuing a castaway.”’

Find out more at decrypt.co

Mississippi Senate Protects Crypto Miners

‘The American state of Mississippi is one step closer to protecting the rights of cryptocurrency miners after the state Senate passed the Mississippi Digital Asset Mining Act on Feb. 8. There is a companion bill under consideration in the state House of Representatives.

The Senate bill, authored by state Sen. Josh Harkins, legalizes home digital asset mining and the operation of mining businesses in areas zoned for industrial use. There are already crypto miners operating in Mississippi, which has some of the lowest electricity rates in the country.’

Find out more at cointelegraph.com

Financial Institutions Betting on Crypto in 2023

‘As Bitcoin hovered around $38,000 last April—down 45% from its peak—Fidelity Investments announced its customers could soon add the digital asset to their retirement accounts through a first-of-its-kind offering.

By the time the firm’s 401(k) product launched the following fall, the value of Bitcoin had sunk even more, hammered throughout the summer by a tightening economy and fallout from the $60 billion implosion of cryptocurrencies Luna and TerraUSD. Bitcoin was changing hands at $20,000 by early November.’

Find our more at decrypt.co

Project Review

Vovo - On-chain Structured Products

What is Vovo?

Vovo Finance is a protocol that offers a range of structured products to cater to users with different risk appetites. Its products include Principal Protected Products, which offer the opportunity to earn large profits without the risk of losing any assets, and Yield Enhancement Products, which allow users to earn high returns by taking on the risk of their choice.

One of the key advantages of Vovo Finance is its fully automated, on-chain operation. Unlike many other structured products projects that rely on off-chain market makers and face the risk of centralization and liquidity shortages, Vovo sources its liquidity from other on-chain DeFi pools, eliminating the need for trust in third parties.

Use cases

Designed for both risk-averse and adventurous users, Vovo Finance offers an organic yield from derivatives, regardless of market conditions. It also provides easy access to on-chain financial instruments, democratizing derivatives and interest rate products for those without deep financial knowledge.

Vovo's keeper handles the rebalancing activities for all users through an aggregated pool, reducing operational and gas costs and making passive investing more accessible and cost-effective. In the long run, Vovo aims to become an ecosystem that enables unlimited offerings of passive investment products with customized payoffs.

Find out more and test the dapp at vovo.finance! I think that your future self might be thankful if you do! 🪂🎁

Memes of the Week

At Least There Are No Calories in Metaverse…

Happy Valentine’s Day!

#valentines day! ","username":"longtail_report","name":"Longtail Report","profile_image_url":"","date":"Fri Feb 10 14:29:45 +0000 2023","photos":[{"img_url":"https://pbs.substack.com/media/FonLkB9WYAQcD6Q.png","link_url":"https://t.co/sKk3dGfsE9","alt_text":null}],"quoted_tweet":{},"reply_count":0,"retweet_count":0,"like_count":0,"impression_count":0,"expanded_url":{},"video_url":null,"belowTheFold":true}" data-component-name="Twitter2ToDOM">

You Have to Stay Positive…

#crypto #memes ","username":"uibzeth","name":"Chad of Wall Street","profile_image_url":"","date":"Thu Feb 09 19:57:01 +0000 2023","photos":[{"img_url":"https://pbs.substack.com/media/FojM6x-XgAEFlPQ.jpg","link_url":"https://t.co/uPP6pYAINV","alt_text":null}],"quoted_tweet":{},"reply_count":0,"retweet_count":4,"like_count":5,"impression_count":0,"expanded_url":{},"video_url":null,"belowTheFold":true}" data-component-name="Twitter2ToDOM">

Mr Longtail’s Motivation Corner

Quote and Book of the Week

‘Talk to yourself like someone you love.’

Brené Brown, Daring Greatly

5 Tips to Self-Love ❤️

As the Valentine’s Day is coming, we prepared for you five tips to self-love, because the most important relationship we have is the one with ourselves. May sound cliché but it is nevertheless true.

❣️Be happy with yourself first and then make other people happy. Prioritising the needs of other people all the time, even the loved ones, means that we consider our talents, dreams not valuable enough to focus on.

❣️Take time to reflect and to ground yourself. This way you will know yourself better and thus, you will make better decisions for yourself, and not for others.

❣️Communicate your needs and feelings to yourself and then to your loved ones. We often hide our true self because well, life happens. However, life is short and fragile so we might as well think what we really want in life. Communication is key – remember that our loved ones may have no idea what would make us happy until we will let them know.

❣️Take care of your body. Body and mind are interconnected, and research shows that we literally are what we eat (well, then I apparently am a Pinterest cheese board since I am a mouse). But jokes aside, when you eat at least 80% healthy and move, you show respect and love to your body.

❣️Finally, rest well when you need it. Dedicate the time in your day when you can disconnect and just be. Relax, recharge, take a nap if you need it. Commit to taking your rest seriously.

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January was green, but what's coming in February?

Fri, 03 Feb 2023 14:01:46 GMT

Mr. Longtail’s Diary

Dear Readers,

Today’s message will be all about the famous self-care.

I have realised that since the past couple of months I have been neglecting myself, while working super hard. Yes, your fav mouse is a hustler. But also, it is a living creature. And as all living creatures it needs sun, fresh air, movement and nutrients.

Upon some reflection, I concluded that artificial light of my computer screen can’t give me the free antidepressant that is Vitamin D.

That’s why I decided to take some days off and go to the spa. I will be chilling, try to do nothing, swimming and have some good time. I realized I need to recharge my batteries in order to purse my ambitious goals.

Meanwhile, enjoy the newest Longtail Report! Happy Friday y’all!

Stay strong!

Mr. Longtail 🐭

This week’s tasty snacks:

🥬 - Market outlook: Green January, What’s coming in February?

🧀 - Hot News: SBF Bail Drama; Silvergate Stock

🧀 - Project Review: Gumball.fi - When NFTs meet Defi! 🟣

🍰 - Those sweet, sweet memes!

🍓 - Your favourite motivation corner!

Market Outlook

Green January 🥬🥑🥒🥦

In November 2022, the price of Bitcoin (BTC) briefly fell to a two-year low below $15,600 due to the FTX bankruptcy filing. However, the cryptocurrency market regained its strength in early 2023 with a 37% increase in BTC prices to end the month of January at over $22,900. Ethereum (ETH) also saw a 30% rise in January, ending the month at $1,577.

Out of the top 10 cryptocurrencies by market capitalization, Solana (SOL) had the highest growth in January with a remarkable 150% increase, while XRP (XRP) had the lowest increase at 15%.

The positive January performance has brought hope to crypto investors after a disappointing year in 2022, with Bitcoin and Ethereum having their worst annual results since 2018.

What’s Coming in February?

Crypto markets have been impacted by macroeconomic data and monetary policy decisions, and February holds several important events that could impact market trends. The Federal Open Market Committee (FOMC) recently raised interest rates by 25 basis points at the conclusion of its meeting on February 1. Ryan Dunn, a certified financial planner and wealth manager at Novi Wealth, suggests that crypto investors keep a close eye on the Fed, as their decisions are likely to drive crypto prices. If the Fed raises rates higher or for a longer period than expected, it could result in a decline in crypto prices.

Two important events for the crypto market are also taking place in February, the European Blockchain Convention and the tenth annual Blockchain Life forum. The European Blockchain Convention is set to take place on February 15-17 in Barcelona, and it will feature over 200 speakers discussing the future of blockchain, NFTs, decentralized finance, and Web 3. The Blockchain Life forum will be held on February 27-28 in Dubai. These events will provide insight into the future of the crypto market and could have a significant impact on market trends.\

Latest News

Keeping up with The Bankmans Season 2 Episode 1 ‘Who Paid the Bail?’

Former FTX CEO Sam Bankman-Fried has been ordered by Judge Lewis Kaplan of the Southern District of New York not to contact current or former employees of FTX. This is one of the bail conditions. In earlier filings, prosecutors stated that in SBF contacted FTX US general counsel Ryne Miller via the encrypted messaging app Signal.

As for the bail itself, it is already known that SBF’s parents co-signed his $250 million bail. However, there were also two other people involved in the bail procedure and now, according to the judge’s recent ruling, the identity of them can be made public.

Curious to find out who helped SBF?

Find out more at Cointelegraph

Crypto Trading and Lending Regulated Soon in the UK

The UK government intends to introduce ‘clear, effective, timely regulation and proactive engagement with industry’. Hence, the plan is to cover crypto service providers, lending platforms, prudential requirements, consumer protection, crypto issuances and disclosures. The aim is to prevent market abuse. Until the end of April the crypto industry will be submitting responses.

Find out more at Theblock

Bitcoin and Ether Adresses Connected to Russia Blacklisted

A Bitcoin and Ether addresses linked to sanctions evasion has been blacklisted by The U.S. Treasury Department's Office of Foreign Assets Control (OFAC).

Russian nationals related to the addresses, Igor Zimenkov and his son Jonatan are allegedly part of ‘a broad network of individuals and entities’, trying to sell defense equipment to ‘third-country governments’.

Find out more at Coindesk

LBRY vs. SEC: ‘Secondary Sales Aren’t Securities’ - Good News for Ripple?

‘A judge clarified that LBRY Credit Tokens, known as LBC, are only considered securities at the time of direct sale, a ruling that could potentially bode well for Ripple.

During an appeal hearing in New Hampshire Monday, the judge said the summary judgment handed down in November, which sided with the Securities and Exchange Commission (SEC), does not apply to secondary sales of LBC.

In the summary judgment, the judge argued that the tokens incentivized the team to build the network, suggesting to investors that LBC would be a profitable investment on the secondary market.’

Find out more at Blockworks

Record Set by Crypto Hackers: US$3.8 bln in 2022 stolen

‘Decentralized finance (DeFi) platforms were cybercriminals’ favorite target, accounting for more than 82% of the cryptocurrencies stolen in 2022, according to the report.

DeFi offers access to financial instruments directly through the blockchain and smart contracts rather than through intermediaries such as brokerages, exchanges, or banks.

Of the funds stolen from DeFi protocols last year, 64% came from cross-chain bridges, which are blockchain infrastructures that allow investors to use crypto assets from one blockchain on a different blockchain.’

Find out more at Finance Yahoo

World’s Largest Asset Manager BlackRock Bought Silvergate Stock

‘The world’s largest asset manager, BlackRock BLK +1.06% , disclosed a significant position in Silvergate Capital SI +29.13% , the beaten-down banker to the cryptocurrency industry whose share price has been a high-profile casualty of the crypto meltdown. BlackRock isn’t the only bullish one.

In a filing Tuesday with the Securities and Exchange Commission, BlackRock (ticker: BLK) disclosed a 7.2% stake in Silvergate (SI), representing 2,285 shares purchased on Dec. 31. It makes BlackRock one of the bank’s largest shareholders, with its BlackRock Fund Advisors arm owning an existing 5.6% stake.’

Find out more at: Finance Yahoo

Project Review

Gumball.fi - When NFTs meet Defi! 🟣

Non-fungible or fungible?

GumBall Protocol is a platform that combines NFT creation and trading. When a new NFT collection is launched on the platform, an equivalent amount of ERC20 tokens, called GumBall Tokens (GBTs), are created for that collection. These tokens are unique to the collection and are sold on a bonding curve, with the liquidity from these sales being used as liquidity for the NFT holders. This allows for easy swapping between NFT positions and enables users to stake, borrow against, and trade their NFTs with ease.

Let’s make NFTs liquid!

GumBall Protocol offers a solution to the lack of liquidity in the NFT market. Each GumBall NFT (gNFT) is minted using the corresponding GBT, which is backed by a liquid asset such as ETH and controlled by a bonding curve. This ensures that each gNFT has a true market value at all times and can be sold instantly for the current market price of the collection. The price of GBT represents the minimum value that is currently available to exit a position.

In contrast, the current NFT market is plagued by a lack of liquidity, making it difficult to determine the true market value of an NFT. Exiting an NFT position often requires a direct sale to a buyer, and current DeFi ecosystems are not well equipped to handle non-liquid assets like NFTs.

*PS - No aridrop confirmation, but you never know what could happen! 🪂

Find out more and test the dapp at gumball.fi!

Memes of the Week

Lookin good!

The Pain is Real…

It Was Quite a Week, wasn’t it?

Mr Longtail’s Motivation Corner

Quote and Book of the Week

“If your compassion does not include yourself it is incomplete.”

Jack Kornfield, ‘Meditation for Beginners’

Take a moment and think to yourself: what would I need to feel recharged?

There is no technical device in the world that would be able to work smoothly all the time without any connection to energy source. Think about it: your laptop and smartphone need to be charged every now and then. Your PC, fridge or TV must be connected to the electricity all the time, otherwise they just wouldn’t work.

Same with humans. We can run for a crazy long periods of time on a low energy level. “Just one more project to do”, “just one last email”, “just one call and I can relax”. And in reality, it’s an never-ending story. When we ourselves won’t make boundaries in our lives, we will be doing hundred things at once until death.

So how to stop this vicious cycle?

Well, sometimes life just gets very hectic. Maybe we are changing jobs, starting a new business, or buying and arranging a new house that we will soon move into? Or sometimes, we are doing all those things at once. Accepting that things can get hard is the first step. But then, we must set a deadline when exactly the chaos will end. It might be in one month or couple of months.

And then, as a third step, we need to plan a chaos detox. It might be a short trip, it might be a weekend in spa, might be a sport event. Something that we will be looking forward to and that will help us survive the craziness.

I hope that helps! Please share in the comments if you have some tips for recharging your batteries!

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Crypto Vending Machines in Capitol; FTX Bankrupcy Saga; Orbiter Finance;

Fri, 27 Jan 2023 17:27:36 GMT

Mr. Longtail’s Diary

Dear Readers,

If I were a rich mouse…but what does it mean to be rich these days?

For me, aside from being healthy and surrounded by happy family members, being rich means buying fancy s*** and don’t care if it’s expensive. More importantly, being rich is to stop trading my time for money.

However, these days is all about saving and investing. It’s tough, men. I see on social media my high school friends going to Maldives and I think to myself: my net worth is so much bigger than theirs and my face have not seen the sun since July.

But I am not going anywhere. I am in Uncle Scrooge mode. You would think Micky Mouse would be my spirit animal but no. He was so basic. Uncle Scrooge is the whole vibe. No fun, just work and collecting money. ‘No time to chill’ as reads the iconic album’s title of German techno band Scooter from early 2000s.

I am daydreaming about bull market coming soon. Hopefully, it will happen before I fully transform into an elderly mouse with silver fur and like Uncle Scrooge, the only thing that would make me happy would be diving into my *digital* money.

Stay strong!

Mr. Longtail

This week’s tasty snacks:

🧀 - Market outlook: ‘The Biggest Bull Trap I’ve Ever Seen’ - Is it?

🧀 - Hot News: Who Will Make The Most Money on FTX Bankrupcy? The Lawyers!

🧀 - Project Review: Orbiter Finance - Your Ultimate L2 Bridge 🛸

🍰 - Those sweet, sweet memes!

🍓 - Your favourite motivation corner!

Market Outlook

‘The Biggest Bull Trap I’ve Ever Seen’ - Is It Really?

So… Let’s look at the most interesting charts, shall we?

Fractals showing some bullish longterm outlook:

#Bitcoin\n\nIn $BTC's history, Descending Broadening Wedge-Patterns have always been very bullish.\n\nIf the current DBWP breaks out to the upside, FOMO is guaranteed to occur + that would most likely also seal the bottom for this cycle.\n\nShow Me The Charts and I'll Tell You the News ","username":"el_crypto_prof","name":"𝕄𝕠𝕦𝕤𝕥𝕒𝕔ⓗ𝕖 🧲","profile_image_url":"","date":"Fri Jan 27 10:11:55 +0000 2023","photos":[{"img_url":"https://pbs.substack.com/media/FneJlLIWAAEil4_.jpg","link_url":"https://t.co/HxIFptHb5u","alt_text":null}],"quoted_tweet":{},"reply_count":0,"retweet_count":49,"like_count":250,"impression_count":0,"expanded_url":{},"video_url":null,"belowTheFold":true}" data-component-name="Twitter2ToDOM">

Absolute bottom at monthly RSI:

#Bitcoin ✍️\n\nMonthly RSI shows that the bottom is in!👀\n\nRSI below 45 has been a good area to accumulate $BTC for long term & has always marked the bear market bottom historically.\n\n#crypto #btc ","username":"thescalpingpro","name":"Mags","profile_image_url":"","date":"Fri Jan 27 10:59:46 +0000 2023","photos":[{"img_url":"https://pbs.substack.com/media/Fnd0-GeaQAEntom.png","link_url":"https://t.co/CEd23YY2LI","alt_text":"Bitcoin"}],"quoted_tweet":{},"reply_count":0,"retweet_count":33,"like_count":161,"impression_count":0,"expanded_url":{},"video_url":null,"belowTheFold":true}" data-component-name="Twitter2ToDOM">

But slightly zooming in, there is still a chance that the bottom is not it.

#Bitcoin #BTCUSD #BTCUSDT ","username":"PayneResidence","name":"aQua","profile_image_url":"","date":"Thu Jan 26 10:12:06 +0000 2023","photos":[{"img_url":"https://pbs.substack.com/media/FnY_88iWIAAJm_T.jpg","link_url":"https://t.co/6pXHcCU8Fe","alt_text":null}],"quoted_tweet":{},"reply_count":0,"retweet_count":46,"like_count":200,"impression_count":0,"expanded_url":{},"video_url":null,"belowTheFold":true}" data-component-name="Twitter2ToDOM">

We strongly believe, that investing and trading should be performed on the probability basis. It is very difficult to spot a perfect bottom as well as a perfect top. Moreover, it might be even dangerous to try. Probability of the fact that the bitcoin bottom is in is very high as most of the long term on-chain and technical indicators point to oversold and reversal.

Latest News

FTX Actually Made Some People Rich: Their Lawyers

‘When they go low, we go high’ as the former First Lady Michelle Obama used to say, now can be applied to FTX’s legal team from Sullivan & Cromwell. The law firm assigned one hundred fifty people on the infamous crypto exchange bankruptcy case. Thirty lawyers are the firm’s partners, reportedly charging more than $2,000 per hour.
And lawyers are still wondering why people don’t like them…🧐

Find out more at cointelegraph.com.

US Senator Ted Cruz’s Crypto Vending Machines?

As they say: ‘The way to a man's heart is through his stomach.’ It seems like Senator Ted Cruz uses creative ways to familiarise his Capitol colleagues with cryptocurrency. And what better way to do this than installing vending machines with delicious snacks and refreshing soda with crypto being a payment option? We very much support the idea! 🍎🍬🥯☕️

Find out more at cointelegraph.com.

World’s Largest Options Exchange Deribit Relocating to Dubai

Deribit, world’s biggest Bitcoin and Ether options exchange, is going to relocate to Dubai, probably in the third quarter of 2023.
David Dohmen, chief legal compliance and regulatory officer at Deribit explained in the interview that the Dubai office’s staff would consist of about ten people, both core employees and local hires. Currently, the exchange is based in Panama, where some employees will continue their work. In The Netherlands, Deribit’s parent company and subsidiaries manage ninety-five people around the globe.

Find out more at gulfnews.com.

Another Crypto Exchange Investigated

Crypto exchange Bithumb has been raided in South Korea based on the price manipulation suspicion. South Korean prosecutors are focusing on identifying transactions related to a specific person or entity moving the price of a coin to make a profit. Their next step will be examining relevant transactions on other exchanges.

Find out more at coindesk.com.

Bitcoin’s Huge Come Back: 2013 Deja-Vu?

Since January 1st 2023, Bitcoin has rallied almost 40%. According to the analysts, it is on track for its best opening to a year since 2013, when it surged 51%.
We’ve already bought the popcorn. We are ready to watch it rising from the ashes again! 🍿🫶

Find out more at coindesk.com.

Project Review

(CAUTION: Alpha Leak!)

Orbiter Finance - Your Ultimate L2 Bridge 🛸

Let’s Fly to Layer 2

Orbiter Finance is a decentralized cross-rollup bridge for transferring the Ethereumnative assets, which is the infrastructure of Layer 2, it offers low cost and almost instant transfers.

Networks currently supported by Orbiter:

Ethereum Mainnet
zkSync
StarkNet
Polygon
Arbitrum
Arbitrum Nova
Optimism
BNB Chain
Immutable X
Loopring
ZKSpace
dYdX
Metis
Boba

Operating Mechanism

‘Security is the most important thing aside from offering cheap and fast transactions as a bridge protocol. What's the specific mechanism of Orbiter that makes sure that the cross-rollup process is safe enough for both 'Sender' and 'Maker'?
First of all, Orbiter Finance aims to solve the cross-rollup problems instead of the cross-chain issues. Vitalik has already made it clear:
Why not cross-chain? And why cross-rollup apps within one zone of sovereignty is fine?
The cross-chain project's primary goal is to ensure the security of transactions between two unique chains and avoid the 51% attack. But the cross-rollup project uses the same Ethereum data layer with each rollup which can naturally prevent the 51% attack. Based on this, Orbiter comes up with a cross-rollup mechanism that can inherit the security of Ethereum L2.’

*PS - No Token, iykyk! 🪂

Find out more at orbiter.finance!

Memes of the Week

GM!

Crypto Twitter This Week:

Not Everyone Is Going to Make It…

#cardano #fairy #meme #crypto ","username":"Crypto_Fairies","name":"CryptoFairies - MINT LiVE🧚‍♀️ www.fairies.cc","profile_image_url":"","date":"Sun Jan 15 04:01:33 +0000 2023","photos":[{"img_url":"https://pbs.substack.com/media/FmfCfH2agAMTqJI.jpg","link_url":"https://t.co/hvTwMZIq4f","alt_text":null}],"quoted_tweet":{},"reply_count":0,"retweet_count":5,"like_count":31,"impression_count":0,"expanded_url":{},"video_url":null,"belowTheFold":true}" data-component-name="Twitter2ToDOM">

Mr Longtail’s Motivation Corner

Quote and Book of the Week

‘Difficult roads often lead to beautiful destinations.’

Zig Ziglar, ‘Embrace the Struggle. Living Life on Life’s Terms’

Do you sometimes feel like you had enough? Are you jealous of people who want less in life and who have everything figured out already? Do you feel overwhelmed?

If your answer is yes, I got you. Since I was a little mouse, growing up in a small town, I have always wanted more. I was ambitious, reading more than others, doing more than others. I was hungry (also for some good camembert or peanut butter). I just wanted bigger life for myself and didn’t want to end up like all the mice from the neighbourhood that never left their pantry.

So here I was, risking it all, leaving a humble but safe pantry. I went to see the world, to gain international experience, to educate myself.

My old friends started to settle down in my hometown, their families were throwing them big weddings, buying apartments. Meanwhile, I was eating the leftovers from supermarket somewhere far away, in the so-called, better world.

I learned a lot. I’ve met mice from all the countries you can imagine. I grew personally and professionally. I have changed. I became more resilient, less fragile. I started establishing myself as a respected and hard-working mouse and… I was proud of myself.

Looking back, I know how much it costed me to leave my comfort zone. It was scary. For a long period of time, my friends and family were confused about my plan, as it clearly was not working perfectly. Then, when I started to enjoy the results of my sacrifices, all the mice seem to think that it all happened overnight. Suddenly, everyone forgot about my struggles. About my difficult choices and unpopular decisions. Now I was the one that ‘made it’.

But the lesson I learned is the same as the quote above reads. As Haruki Murakami wrote: ‘and once the storm is over, you won’t remember how you made it through, how you managed to survive. (…) But one thing is certain. You won’t be the same person who walked in.’

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FTX Trading Is Back?

Fri, 20 Jan 2023 18:37:35 GMT

Mr. Longtail’s Diary

Dear Readers,

I hope this issue finds you well. Your best *mouse* friend is here to support you mentally, spiritually, and emotionally. And of course, spill the crypto tea.

When I used to work at my 9-5 job, I recall that no email has ever found me well. I was dead inside all the time and slightly depressed. I have always tried to be grateful, hence slight depression. I mean, at least I was healthy, had my salary every month, and the company was fancy. The office building was from the late 90s and so was the interior design. My coworkers in the office’s kitchen were very competitive and it truly was a mouse race (dad joke but I had to).

Nowadays, looking back, I applaud myself for being able to survive there for so long. However, I also learned a lot. My skills helped me to create another, more fulfilling chapter in my career. And I am still work in progress, but don’t we all? I guess the message here is: regardless of where you are right now, keep learning and growing. Don’t give up on yourself. One day it all will make perfect sense to you, and you will be living your dream.

Slay all day,

Mr. Longtail

This week’s tasty snacks:

🧀 - Market outlook: Is the bottom in?

🧀 - Hot News: Justice Department Crackdown on Crypto and more!

🧀 - Project Review: The future of crypto exchanges

🍰 - Those sweet, sweet memes!

🍓 - Your favourite motivation corner!

Market Outlook

Is the Bottom in?

So…in the recent poll you guys decided that the bottom is not yet in:

Who’s going to win? The Bull, the Crab or the Bear?

No one knows! But let’s take a look, and see what data says…

The on-chain data seems somehow re-set. The indicators that were absolutely overheated back in May 21 or Nov 21, are now starting to show bullish reversal.

Realized price and Mayer Multiple shows 2019 & 2015 levels:

Cycle Change Detection Indicator triggered.

Short-Term Holder Confidence, seem to be reversing…

Here a cheat sheet in terms of other trend reversal indicators:

IMHO there is 50:50 chance the bottom is in… We will closely monitor the market and will keep you updated.

⌛’Patience can produce uncommon profits.’ - Philip L. Carret

Find out more at the latest report from glassnode.com.

Latest News

FTX Is Back?

In his recent interview with Wall Street Journal, John Ray said he is exploring the possibility of restarting the FTX US operations. Mr Ray currently holds a position of FTX CEO that is responsible for overseeing FTXs bankruptcy.

Apparently, as mentioned by Mr Ray, a special task force has been created to consider restarting FTX.com. Its objective is to recover as much value as possible for the customers. Restoration of customers’ money can also be facilitated through 'liquidating assets or selling the platform' - Mr Ray added.

Do you think people will go back to FTX? (and again, donate to Sam’s Penthouse Charity Club in The Bahamas?)

Find out more at finance.yahoo.com.

Crypto Exchange Bitzlato Charged with Money Laundering

During the press conference on Thursday 19th January, the US Department of Justice informed the public the following:

‘Authorities have seized cryptocurrency exchange Bitzlato, and arrested its co-founder, accusing the firm of fuelling a ‘high-tech axis of crypto crime’. Furthermore, the Justice Department pointed out that: ‘Bitzlato processed more than $700m (£567m) in illicit funds, breaking rules designed to thwart money laundering.’
Bitzlato’s founder is Anatoly Legkodymov, a Russian national living in China.

Find out more at coindesk.com.

CEO of JP Morgan Jamie Dimon: Bitcoin Is a Fraud

‘Bitcoin isn't scarce. How do you know it's gonna stop at 21 million? Is Satoshi’s picture gonna come up and laugh at you?"

said Jamie Dimon, CEO of JP Morgan in a recent CNBC interview that he gave during the Davos Economic Forum in Switzerland.

‘Blockchain is a technology ledger system used to move information. We’ve used to move money’ - he added.

We’ll tbh it looks like it’s a better store of value than the JP Morgan stock…

Find out more at CNBC.

More Crypto Owners in 2022

According to the newly published new report by Crypto.com, global cryptocurrency owners increased by 39% in 2022 compared to 2021. In total, at the of 2022 cryptocurrency owners reached 425 million. That’s almost 1,5 million more than in 2021, as 306 million crypto owners were reported at the end of 2021.

Given that 2022 was a bearish year, numbers above definitely mark a progress in the crypto industry.

Curious to see what the future will bring? Stay tuned and subscribe to Longtail Report!

Find out more at crypto.com.

Genesis Filed for Bankruptcy

On Thursday 19th January 2023 Genesis Global Capital’s lending unit of crypto filed for U.S. bankruptcy protection. The company allegedly owes creditors at least $3.4 billion.
Following the steps of its infamous predecessors, crypto exchange FTX and lender BlockFi, Genesis’ collapse seems to be yet another hurricane in the crypto industry.

Find out more at reuters.com.

@DCGco ","username":"tagdemnbagdem","name":"Tagmnbagm","profile_image_url":"","date":"Fri Jan 20 17:38:01 +0000 2023","photos":[{"img_url":"https://pbs.substack.com/media/Fm7tTnsWAA03Kb7.jpg","link_url":"https://t.co/90lEAMHKva","alt_text":null}],"quoted_tweet":{},"reply_count":0,"retweet_count":2,"like_count":16,"impression_count":0,"expanded_url":{},"video_url":null,"belowTheFold":true}" data-component-name="Twitter2ToDOM">

Project Review

(CAUTION: Alpha Leak!)

The Future of Crypto Exchanges

Self-custody: The Adoption Continues

If you’re reading this that means that you’ve most likely survived the FTX collapse. After the SBF drama, everyone discovered (again) the core concept of crypto, which is a self-custody.

Self-custody is like having a 'fort knox' in your pocket!

In the light of current events (FTX drama), self-custody is a growing trend. Thus, we can expect the growth of decentralised exchanges. On-chain perps are likely the future! Rage Trade seems to be positioned well, to eat the piece of the growing pie!

What is Rage Trade?

Rage Trade is a yield and perpetual protocol. It is currently built on Arbitrum and LayerZero. Rage claims to be building the most liquid and composable ETH perp on top of UNI v3. The key features are:

ETH perp with 10x leverage
Omnichain recycled liquidity
Yield generating 80-20 Vaults

Let’s Talk the Nerdy Stuff

Recycled liquidity allows Rage Trade to re-use liquidity across chains and protocols to LP into their ETH perp.

If you own LP positions in:

AMMs (Curve, Balancer, Sushi),
Money Markets (Aave, Rari, Euler)
Derivatives (GMX, Ribbon),

Then, you can recycle your LP shares into Rage using our 80-20 Vaults. This allows users to earn extra yield on their LP shares. And enables Rage to unify liquidity into an omnichain ETH perp. Pretty smart, huh? But there’s more!

80-20 Vaults

Each 80-20 vault accepts a different LP position as collateral (for example, Curve Tri-Crypto). The vault recycles these LP shares to provide liquidity in Rage's ETH perp. The goal of the 80-20 vault is to earn an additional yield on your LP position while replicating the payoff of an ETH-USD LP in Uniswap v2.

The vault maintains the following distribution of assets:

80% of TVL lives in a yield-generating service (Curve, GMX, Sushi etc)
20% of TVL provides concentrated liquidity on Rage Trade

To attract all possible ETH+USD yield-generating assets, LPs can recycle liquidity from all Layer Zero compatible chains.

Airdrop?

Rage Trade doesn’t have a token yet, but it’s more likely that the $RAGE token will be issued, and early users may be rewarded. Additionally, using Rage may increase your chances for both LayerZero and Arbitrum speculated airdrops (if the snapshot is not taken).

Find out more at rage.trade!

Memes of the Week

Time for some memetherapy!

Bears rn!

For SBF numbers are still perfectly adding up. 🤔

@DefiantNews So was his excel right at end? LOL ","username":"longtail_report","name":"Longtail Report","profile_image_url":"","date":"Fri Jan 20 14:37:28 +0000 2023","photos":[{"img_url":"https://pbs.substack.com/media/Fm7D1eWaAAkuj34.jpg","link_url":"https://t.co/aMGZCMHtFM","alt_text":null}],"quoted_tweet":{},"reply_count":0,"retweet_count":0,"like_count":0,"impression_count":0,"expanded_url":{},"video_url":null,"belowTheFold":true}" data-component-name="Twitter2ToDOM">

Who’s liquid nowadays? ¯\_(ツ)_/¯

Mr Longtail’s Motivation Corner

Quote and Book of the Week

‘Realise deeply that the present moment is all you have. Make the NOW the primary focus of your life’.

Eckhart Tolle, ‘The power of now: A guide to spiritual enlightenment’, available at: Amazon

Living in the past

How are you feeling right now, in this very moment? Thinking about how tiring this week has been? Or how annoying your client or boss were? Maybe you are reminiscing about your past, questioning some career decisions you have made couple years ago? If so, my friend, you are currently living in the past (and I want to borrow your time machine to see how I would prosper in ancient Rome as a patrician mouse).

Living in the Future

Now you are thinking how busy the next week at work will be. How many emails you need to send, how many trades you must make. You plan the grocery shopping and coffee chat with a potential business partner. Here is the news for ya: congratulations, you have successfully teleported yourself to the future. You can be featured in the next Interstellar movie (if there would be one, very much needed btw).

How to Start Living in the Now?

But jokes aside, living in the present moment is hard. It requires from us to be mindful and focus only on the now. I started the practice of focusing on the now couple years ago, going through some life hardships. I had nothing to lose so I decided to become more spiritual to ground myself in something bigger than my ego and my constant unmet needs. And let me tell you, it helped tremendously.

The Practice of the Now Really Works!

At first, it felt weird. I sat for 10 minutes and tried not to think about the past or the future. ‘Where is that biggest gouda slice I saw in the fridge yesterday? Maybe this mean mouse from 10B came and took it when I was sleeping. I shouldn’t go to sleep so early!’.

But then, I looked out the window and saw a beautiful big tree. I passed it by every day but this day I saw its beauty for the very first time. So, I sat and glared at the tree and suddenly I was in the now. 5 minutes passed and I felt refreshed, recharged. I no longer was angry at the mouse from 10B. ‘I am sure I will get some amazing brie today as today people go to the market’ – I calmly thought to myself.

That said, I highly recommend trying this exercise, even for 5 minutes per day. It is proven to work on mice and on people. Good luck!

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Issue #2 - US Government Bonds on Ethereum?

Fri, 13 Jan 2023 14:00:28 GMT

Mr. Longtail’s Diary

Dear Readers,

How y’all doing? Your fav mouse/entrepreneur/crypto influencer/investor here. The first week of 2023 was hectic. One day I am thinking ‘bull market is coming, lemme put my Prada loafers on 😎’. The other day I am slightly depressed, eating breakfast made of chocolate and chips (that someone kindly left in the kitchen I am currently visiting, thanks btw!), preparing myself mentally for another bear-year. 😓 But in between of this emotional rollercoaster, my team and I produced this piece of art for you - new issue of Longtail Report. Enjoy!

With warm regards,

Mr. Longtail

Here are some tasty snacks that we’ve prepared specially for you in this issue:

🧀 - Market outlook: We’re bouncing back!

🧀 - Hot News: US Goverment using Ethereum? and more!

🧀 - Project Review: A non-custodial debit card!

🧀 - Those sweet, sweet memes!

🧀 - Your favourite motivation corner <3

Market Outlook

We’re Bouncing Back!

Influencoooors are bullish:

…But before you FOMO into crypto all the remains of your life savings to make it all back in one trade, let us first give you a balanced outlook for the near to mid-term future. Let’s not be this dude (again):

Crypto Situation Room: ‘Not Horrible’, but ‘Not Great’

‘Not horrible’, but ‘not great’ is GLXY’s Mike Novogratz’s diagnosis on crypto space. In his recent CNBC interview, he pointed out that they have the regulatory headwinds they didn't have before. ‘People are going to cut costs and survive this transition period’ - he added.

Nevertheless, GLXY has been expanding: ‘We bought a big mining facility in Texas. We bought a GK8 security, self custody company in Israel. We’re leaning in where we think it’s appropriate’.

Looks like some institutions are buying, but carefully…

Deutsche Börse Group: ‘Recovery in the Markets Is Coming’

Institutional grade crypto platform published in their outlook for 2023 and concluded that:

‘after ending a volatile year in crypto, we believe that in 2023 we will see a gradual recovery in the markets.’ The report points out that ‘sentiment in crypto is already at historically low levels.’ What are lessons learned from 2022? The prediction is that we will observe market participants’ movement from ‘unregulated and centralised entities to either centralised and regulated or decentralised entities’.

Find out more in the full report from Crypto Finance.

Let’s see how things will unfold. It’s always good to be a pragmatic optimist. However, no matter what the market brings, it's going to be a big year!

What do you think?

Latest News

US Government Bonds on Ethereum?

‘Ondo Finance, which aims to develop tokenized investment funds — the firm revealed the imminent launch of three tokens representing deposits in popular ETFs managed by asset management behemoths Blackrock and PIMCO’.

Blackrock being the world’s largest investment manager with approx. $10 trillion assets under management and strong ties to US Government will have their products tokenized.

‘Of the three offerings, the US Government Bond Fund (OUSG) will have the lowest yield, which Ondo estimates to be 4.62%. The Short-Term Investment Grade Bond Fund (OSTB) is slightly higher at 5.45%, and the High Yield Corporate Bond Fund currently yields 8.02%.
Ondo will charge a management fee of 0.15%.
In April 2022, Ondo raised $20M in a Series A round led by Peter Thiel’s Founders Fund and Pantera Capital, the decade-old crypto investment fund’.

Find out more at The Defiant.

The Saga of SBF and a Lonely Jar of Peanut Butter

Twitter, year 2021. Ex-FTX CEO Sam Bankman-Fried famously comments a pic of FTX cluttered office, complaining that the peanut butter visible on the picture ‘was disgusting’.

Well, karma is a b****. As SBF recently confessed, due to his vegan dietary restrictions he had to rely on a jar of peanut butter while being locked in the Fox Hill jail in The Bahamas. As he admitted, instead of a meal served in the facility, he would eat a peanut butter sandwich.

Time for a collab with Subway? One peanut butter SAMdwich, please!

Find out more at Business Insider.

FTX Has Recovered Over $5B in Cash and Liquid Crypto

As confirmed by FTX attorney, Andy Dietderich, the cryptocurrency exchange has recovered $5 billion in cash and liquid cryptocurrencies.

Exchange is still ‘working to rebuild transaction history’, and the total amount of customer shortfall is ‘still unclear’.

Find out more at Cointelegraph.

Game of Thrones NFT Collection Sold in 7 Hours!

Even though Crypto Twitter went completely bananas about those nasty fingers! 🤮

Find out more at The Block.

Morgan Stanley Holds Bitcoin

None other than an iconic bank Morgan Stanley has allocated $3.6 million to Grayscale Bitcoin Trust ($GBTC). Their bet on Bitcoin is to:

‘maximize capital appreciation by investing primarily in high quality established and emerging companies located in Europe that the investment team believes are undervalued at the time of purchase’.

Betting on Bitcoin seems to be a growing trend again among the influential financial firms, including BlackRock.

Find out more at Crypto News Flash.

Project Review

(CAUTION: Alpha Leak!)

Making Payments 10x Better - A Non Custodial Debit Card from Mover

Mover is a permissionless protocol exploring payments. They want to meet Web2 UI with Web3 infra. Sounds exciting? Let’s dive in!

Mover is a suite of products in NFT, web3, and DeFi space.

Let’s talk about the Debit Card! 💳

The debit card is available to the residents of 31 countries. It’s available in EU&UK. USA is coming. Mover - is non-custodial and permissionless and doesn’t have access to or store your personal information.

Moreover, you can top up the debit card from your own non-custodial wallet with a token of your choice. The list of tokens is growing as we speak!

Also, partnerships are strong in this one. It looks that Mover is positioning itself to be a core building block of defi infrastructure when comes to payments!

MPGB?

Mover DAO or MPGB (Mover Pylon Governance Body) has two tasks: The first one is to manage the community fund and, hence the development of the DAO. MPGB is able to decide on the future of this fund with the help of the community voting. The second task is creating the governance proposals.

What is a $tag?

A $tag is a unique string of characters that connects to your card and can be shared publicly. It looks as simple as this: “$mover” and it can be shared without exposing your private details on-chain. You can reserve your own $tag, here!

Ah… And There Is a Token! 🙃

There is a total maximum of 9,966,991 move tokens. $Move is currently seating at $1,6mln Market Cap!

In our humble opinion future looks bright for Mover! And looks like new things are cooking! Even the Twitter intern wants to spill the tea… 🤣

Find out more at viamover.com.

Memes of the Week

new new money > new money

hmm… 🤔

maybe it’s time to grow up…

Mr Longtail’s Motivation Corner

Quote and Book of the Week

‘The purpose of life is a life of purpose’

Robin Sharma, ‘Monk Who Sold His Ferrari’, available at: Amazon

What’s Your Purpose?

As life gets busy, we often tend to forget what our true purpose of existence is. For one person the purpose might be to get to the prestigious firm and climb the corporate ladder. In case of moi - a humble but business-savvy mouse, the goal has always been to get a permanent residency in the prestigious pantry. Another person’s dream would be to build a successful company or to have a happy and healthy family (or both). I guess for all of us the goal is to not lose everything on crypto during bear market.

Align the Purpose with Your True Self

Regardless of the goal itself, the most challenging thing is to have the goal aligned with our true self. If we set goals only to make other people proud of us, or to do better than our college frenemy, but deep inside we know we would rather live another life, then it is time to act on it. And what better time to start creating a life we really really want (as the Spice Girls would say #nostalgicmillennialmousehere), than a beginning of a new year?

New Year, New Me

Remember, days are long, but years are short! That’s said, my New Year resolution is to visit less Dunkin’ Donuts and go to Whole Foods more often – even though it would be more difficult because they have better cleaning service than at Dunkin’ so they are less welcoming to yours truly. Nevertheless, challenge accepted!

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Issue #1 - Welcome to Longtail Report!

Fri, 06 Jan 2023 14:00:47 GMT

Finally. All emails sent, comfy clothes on, hot beverage ready to soothe the soul (IYKYK). It’s Friday and from now on this also means…Longtail Report is here!

Enjoy some me time with the best weekly crypto newsletter while you relaxing after stressful week!

Introducing: Mr. Longtail

Mr. Longtail is a motivated, goal-oriented mouse, grinding his way to financial independence. Being a proud owner of crypto portfolio, Mr. Longtail is passionate about the markets, future of finance and all things business.

Don’t be fooled by his small posture, he has everything it takes to succeed. The grit of samurai, the brains of Einstein, and the mindset of Buddhist monk.

Citizen of the world, if you will, Mr. Longtail knows the deepest canals in Amsterdam, the fanciest lofts in Manhattan and the concrete apartment blocks in Eastern Europe.

In bull market he loves designer loafers and summers in Portofino. In bear market he appreciates the simple life - McDonald’s and GeoGuessr.

Mr. Longtail invites you to take a glimpse into his world with the intention of making your week better. He and his talented team gathered all the exclusive information especially for you. Let’s dive in!

Mr. Longtail’s Diary

Dear Readers,

It is with my greatest pleasure to present you the very first issue of Longtail Report- the best, in my humble opinion, weekly crypto newsletter. Longtail Report keeps you informed, entertained and motivated.

In this small (but nevertheless meaningful) section, I will be sharing with you my sophisticated, chaotic, and cutting-edge experience called life of a crypto investor.

Join me in this journey and let’s hodl our hands together!

With warm regards,

Mr. Longtail

Market Outlook

Prediction for 2023: Genesis Files Bankruptcy Protection in Early January Contributing to Bitcoin Bear Market Lows

Market analyst Bob Loukas plans to add his final tranche early January, which will complete his purchases of bitcoin for this cycle. In his opinion, market bottom would be around the first quarter of 2023. Find out more in the tweet thread below:

#bitcoin bear market (4yr Cycle) lows.\n\nFew crypto players (OG and new) would have escaped massive losses and capital tied up years this Cycle.\n\nExpect slow and arduous path out in 2023 \n⬇️","username":"BobLoukas","name":"Bob Loukas","profile_image_url":"","date":"Wed Dec 28 18:38:49 +0000 2022","photos":[],"quoted_tweet":{},"reply_count":0,"retweet_count":125,"like_count":968,"impression_count":0,"expanded_url":{},"video_url":null,"belowTheFold":true}" data-component-name="Twitter2ToDOM">

Latest News

SBF Pleads Not Guilty

Keeping up with the Bankmans-Frieds Season 2 Episode 1 – The Trial

Equipped with a mysterious backpack worn over a formal suit (fashion statement alert), Sam Bankman-Fried pleaded not guilty to criminal charges in Manhattan federal court this Tuesday. Federal prosecutor Danielle Sassoon stated that the evidence against SBF is solid and hence, over hundreds of thousands of documents will be submitted to the defense in the course of the next few weeks.

Contrary to their former boss, Caroline Ellison and Gary Wang pleaded guilty and are now cooperating with the prosecution.

Find out more at Reuters.

Gemini’s Cameron Winklevoss Gives DCG’s Barry Silbert One Week to Fill up a $1 Billion Whole

In an open letter published on Twitter (aka: ancient Greek agora 2.0), Cameron Winkelvoss points out that the DCG users ‘deserve a resolution for a recovery of the assets they lent to you (Longtail Report: to DCG) and an end to this nightmare’. He proposes the January 8 as the deadline ‘to solve this problem’ and is willing to cooperate with Silbert.

Replying in a comment, DCG founder denies borrowing $1.675 bilion from Genesis.

So, if you fancy some Real Housewives Reunion drama but crypto version, check out the comments section on Twitter!

@BarrySilbert ","username":"cameron","name":"Cameron Winklevoss","profile_image_url":"","date":"Mon Jan 02 14:02:36 +0000 2023","photos":[{"img_url":"https://pbs.substack.com/media/FlePP-1akAAknU5.png","link_url":"https://t.co/kouAviTho4","alt_text":null},{"img_url":"https://pbs.substack.com/media/FlePQfUaYAEWPYl.png","link_url":"https://t.co/kouAviTho4","alt_text":null}],"quoted_tweet":{},"reply_count":0,"retweet_count":2170,"like_count":9884,"impression_count":0,"expanded_url":{},"video_url":null,"belowTheFold":true}" data-component-name="Twitter2ToDOM">

Another Crypto Market Implosion? DCG and Genesis about to Go Bankrupt?

Following on the news above, we stay in the DCG and Gemini universe for a minute as it seems a lot is going on there.

In the event of bankruptcy, DCG could be forced to liquidate its cash cow: Grayscale Bitcoin Trust (GBTC), which currently holds 634,000 BTC ($10.5B), that could be liquidated, putting massive selling pressure on the Bitcoin price.

Find out more at The Crypto Basic.

Sushiswap Shutters Its Money Market and Launchpad Products to Focus Fully on Dex

Kashi - the lending platform, and Miso - the launch platform will be depreciated due to lack of resources and design flaws. Both services didn’t get market traction or achieved any significant product market fit.

Find out more in Sushi’s CTO Matthew Lilley’s tweet (and we agree with him that every setback is a learning curve):

Is the Bottom Already in? Wall Street Journal’s Article Might Be a Sign We All Were Waiting for

‘Some novices who took up trading during the pandemic are abandoning the hobby. Their loved ones are breathing a sigh of relief.
Spouses, parents and other family members who were subjected to one too many play-by-plays of market movements say they are happy to have their loved ones back—and equally glad they no longer have to hear about buzzy stocks or cryptocurrencies.’
Well, well, well…enjoy it while it lasts lol.

Find out more at the WSJ.

Vitalik’s Positive Reflections on 2022

In his recent interview, Vitalik shared some reflections on crypto space in 2022:

‘2022 has been, I think a complicated year (…). A lot of people will remember the year for all of the terrible stuff that’s happened within the crypto space for all of the multi-billion dollar blow-ups, but I think it’s also important to also remember various positive things that crypto has seen, such as The Merge’

Always brings positivity and perspective to the space. That’s why we all love him!

Find out more at Bankless.

Central Banks Buying Bitcoin?

According to the latest Bank for International Settlements Guidelines, starting from 2025 central banks will be able to invest up to 2% of their balance sheets in crypto. This could open a floodgate of cash into the crypto space which would definitely bring some interesting developments.

Find out more in the video from Coin Bureau.

Elon Musk Expects More Market Pain in 2023

Holiday season was the perfect time to catch up on our fav podcasts. On a recent episode of ‘The All-In Podcast’, Tesla and Twitter CEO Elon Musk gave a warning for market participants and investors and shared his predictions for the markets.

‘I would really advice people not to have margin debt in a volatile stock market. And, from a cash standtpoint, keep powder dry’.

Elon’s predictions:

‘My best guess is we might have stormy year to year and a half and things will start to dawn breaks in roughly Q2 2024… that’s like my best guess’.

Find out more in the video fragment from All-in Podcast.

What are your predictions for 2023? Share your thoughts in the comments section and on our Twitter account!

Project Review

(CAUTION: Alpha Leak!)

Perpetual Contracts for NFTs? No Worries - nftperp Got You Covered!

There are several problems with NFT markets right now. We believe that the two main challenges are the following:

Illiquidity - it’s not easy to find a buyer or seller. Which results in a very large spreads!
High barrier to entry for “blue chip” collections such as Crypto Punks or Bored Apes (current price floor approx. $100.000).

Nftperp solves those by creating a perpetual futures exchange for NFTs that tracks the floor price of NFT collections.

They use vAMM (virtual automated market maker) under the hood. TL;DR on vAMM:

no liquidity provider is needed
no order book
one trader’s gain is another trader’s loss

As it’s simply explained in the documentation:

‘For example, Bob owns an ape with a floor price of 100ETH. He wants to lower his downside risk but he doesn’t want to sell his precious ape. He found out about nftperp and opened a 100ETH short position on the exchange.
If the floor price of BAYC drops to 90ETH, his ape is now worth the value of 90ETH but he can now close his short position with a 10ETH profit. Instead of losing 10ETH with the floor price drop Bob can now hedge his position with no value lost’.

This way, Bob is now able to hedge his spot position with nftperp! That sounds like a cool usecase! But, how to make sure that we can avoid any potential market manipulations or how to make it simply unprofitable for the exploitoooors that will try tinkering with the oracle? Looks like nftperp team resolved it as they explain in the technical documentation:

‘Most NFT collections have Illiquid floors and are highly volatile. Moreover, as we have seen in crypto perp markets, derivatives exchanges often grow bigger in volume and liquidity than spot markets. As a result, an unreliable index could increase liquidation risk and become an attractive target for manipulation.
As a risk management strategy, nftperp opts oracle index prices for funding rate calculations — not for liquidations. On top of that, oracle price feeds are TWAP’d in our contracts to further prevent flash attacks on the protocol.
For safety reasons, nftperp will focus on NFT collections such as Bored Ape Yacht Club, where the market cap and network effect are much larger and more challenging for bad actors to exploit.’

NftFi trend is listed by some analysts as a potential next bull market narrative, so it might be wise to keep an eye on projects such as nftperp!

If you’d like to learn more, take part in nftperp trading competition and get a chance of winning the $VNFTP airdrop, check out more at: https://nftperp.xyz/ and join the discord! G’nut!

Memes of the Week

We would pick SPF over SBF any day of the week!

Bull Market… Those were the days…

When the meme becomes reality…

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Mr Longtail’s Motivation Corner

Quote and Book of the Week

‘The point is not what we expect from life, but rather what life expects from us’

Viktor Frankl, ‘Men’s Search for Meaning’, available at: Amazon

The concept expectations vs reality is often used in memes. It truly shows how powerful expectations are for human beings. Being a mouse myself, I am not in a position to question this paradigm, however, as a certified motivational coach (gotta have a side hustle), I can perhaps offer you an uplifting interpretation of the quote above.

What makes human beings (and some small rodents) unhappy is a constant disappointment that their expectations towards other people and life have not been fulfilled.

‘The job at this law firm is horrible, nothing as it seemed during the interview’, ‘my girlfriend is working too much, she is not that fun as I expected’, ‘my neighbours are not that nice as I thought’, ‘my husband is not as ambitious as I imagined him to be’.

This thinking creates a sort of chain of expectations: someone expected something from us we didn’t want and now we do the same with people in our life.

What is the common thing of all those remarks? The focus is always on something or someone else, never on the person saying it. What would happen if, instead of expecting from others, we would start look into ourselves? Be brutally honest. It might be that actually, we would like to be more fun or more ambitious. It might be, that this job is objectively not bad, but we do it because our parents expected us to be a lawyer.

There is no doubt 2022 was a challenging year, both for the world (war in Ukraine), and for the crypto community. Collapse of Terra Luna, 3AC, Celsius, BlockFi, Alameda and FTX profoundly disrupted the past twelve months. The fact that we are all deeply affected by those events stems from our unmet expectation of the past year: we all thought 2022 would be better than it actually was.

Now, what we can do now to improve the quality of our human (and small rodent) existence?

The answer is: expect more from yourself, even if it sounds counterintuitive. It’s tough already, I know. But putting a bit of good old-fashioned pressure on ourselves to be more healthy, more optimistic, more productive, more focused, and last but not least- more understanding and positive towards others, will benefit us in a way that we wouldn’t even know it’s possible.

Right now, life expects from us to be patient, creative, motivated and determined to make our personal, professional, financial and health goals a reality. Let’s show that we can deliver. Upon fulfilling expectations we had for ourselves, we will be truly satisfied.

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Longtail Report — Fri, 30 Dec 2022 20:46:36 GMT

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