Congrats, you made it to the weekend. It’s time to stack sats and chill now.
But first, there’s never a dull moment in crypto.
It’s hot strike season as projects use the sizzling summer to cook up something special…the bull is coming. Then there’s the Fed…who plans to grab crypto by the balls and crush it. But one mighty man is fighting back and giving it “big B” energy.
Let’s dive in.
Here’s what’s in today’s issue:
- My portfolio updates.
- Rebecca shares her thoughts on Bitcoin becoming the new reserve currency of the USA, Polygon 2.0, Arbitum giving cash to coders, the Nasdaq canned it’s crypto service & the FedNow goes live.
- Altcoin Alpha by David.
- Airdrop of the week by Jesse.
- Jesse has a deep dive on Radiant Capital.
- Sam has a report for you on Art Blocks Engine.
- In case you missed it by Rebecca.
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Lark’s Portfolio
Buys and Sells
I bought more Bitcoin at $29,980.
I bought more ARB at $1.27. With EIP 4844 coming up, it could catch narrative.
I bought more ETH at $1,930.
I am thinking of taking a position on LINK after the CCIP news. Haven’t done it yet. I was about to pull the trigger but went for a walk and to have dinner with the family… and then some whales pumped it up… keeping an eye out for a good entry. Had hoped to fill a bag around $7, might still on a pullback. At the time of writing it had popped up to over $8 🤨
Mantle, is also on the watchlist now. Interestingly Mantle has a lower fully diluted value than Arbitrum, and a circulating supply value of 1 billion compared to ARB’s 1.6 billion.
USD Loan
I took a cash loan out versus about half of my Ether.
I used Maker’s Summer app to do this.
It has an immediate tax implication of about $200 per Ether.
It also comes with an interest rate of 3.2%.
The position has a stop loss at $1,298 meaning that if the price of Ether drops to that level I will have my vault automatically sold off.
Now, the question is how to deploy the cash.
New Liquidity Pool
I have bridged money to Linea Mainnet. https://bridge.linea.build/
I added liquidity to the Horizon Dex. https://app.horizondex.io/swap
The intent here is to position myself for any potential airdrop from either Linea or Horizon.
I also added new liquidity on Trader Joe. This time on the Avalanche chain, in the EUROC/USDC pool. Current APR is 29%.
The Layer Two Trade
There have been a lot of exciting blockchains launching in the last two years. Some have found users. Others languish in the place between life and death, slowly bleeding out as users and funds drain away. But many of these seemingly dead chains, were once the big thing.
Layer one trades were the big thing in 2017 and again in 2021. 2017 saw coins like EOS, NEO, and Icon moon like crazy. 2021 saw some big new players like Solana and Avalanche actually come in and capture market share, these have a much stronger chance to create staying power. Others like Moonbean, Sui, Aptos, etc. have not really seen a bull run and I am sure some of them will manage to attract liquidity and hype.
But one thing bouncing around my…
