In This Issue
- I share my thoughts on the state of the market, the FED met, recessions redefined, Ethereum roadmap, Curve Stablecoins & the NFT meltdown.
- Rekt Capital has the latest technical analysis for you on the market.
- Sam has a report for you on generative art NFTs.
- Defi Dad has a tutorial for you on how to earn up to 9.7% vAPR with USDC on PoolTogether on Optimism.
- Jesse has a ton of hot new airdrops for you.
- Hot new token sales.
- Rebecca has all of the latest news for you.
For any crypto related questions please comment on the website.
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What’s On My Mind by Lark
The State of the Market
Volatility is the key word this week.
We had a nasty weekly close for Bitcoin with sellers smashing the price back under the 200 week moving average.
This was all in anticipation of the FED meeting and how the market would price in a rate hike.
What is most surprising is how hard the market bounced on news of the rate hike. But as usual crypto is not dancing to its own music. Key stock indices rallied hard on the news, and crypto as usual slavishly followed along.
The question now is if this bounce is going to be a continuation of the relief rally or just a big fat nothing burger!
FED Met, Now What…
Well, the FED has just announced the newest rate hike at 0.75% and the market went wild!
The market has feared a possible 1% rate hike, but since it was only 0.75% this was actually a bullish event. Which is funny because previously this big hike would have been looked at with a more bearish lens.
One thing is for certain this event did cause a lot of fear and volatility this week!
Recession Redefined… Kind Of…
With the US GDP data release this week the internet went abuzz with the new way for determining a recession.
You see normally we all learn that a recession happens when a country registers two quarters of negative growth. Recessions can be shallow like two quarters of -0.1%, or they can be fast and brutal like two quarters of minus 10%. But this definition has long been used to make the call.
That was until 2009 when the group responsible for making the call, the NBER, redefined how a recession is determined.
It is now roughly defined as “ a decline in economic activity spread out over several months that factors in things like employment, consumer spending, real personal income, and industrial production”.
So while the GDP data is likely to show the US entering a technical recession. The bean counters at the NBER will be unlikely to announce one.
Ethereum Roadmap
Vitalik Buterin recently laid out the road ahead for Ethereum.
As he said Ethereum will only be 55% done when The Merge happens. The final version of Ethereum will be capable of 100,000 transactions per second.
Here is a quick overview.
The Merge – This is the transition to Proof of Stake which is scheduled for September 19th.
The Surge – This is when Ethereum brings in sharding on-chain. Essentially it breaks the chains into smaller pieces called shards allowing the workload to be shared. 2023 sometime.
The other three stages are coming at some point in the future.
The Verge -…
