EtherFi TGE, Arca Buys $RLB, Blast News, Bitcoin L2s, $BTRFLY & More
The Castle Chronicle: Volume 52
👀 What’s to Come in Volume 52
🔑 Key News: Headlines, Exploits, Continued Adoption, DeFi Updates, New Projects & more from CJ
⛓ On-Chain Sleuthing: feature along with Smart Money Moves from Cl
🔥 Hot Narratives from Atomist
📉 HTF Price Action Scenarios: from Vlad
⚔️ A Call to Arms
Think you have what it takes to enter the Castle and contribute to funding and advising projects across the space?
🔑 Key News
Major Headlines
Bitfinex removing services from certain UK customers
Gary Gensler writes a crypto thread while SEC’s X account caused a pump and dump with fake news is now under FBI investigation
Celsius creditors who withdrew 90 days before bankruptcy are asked to send money back
GameStop axes NFT marketplace
Project Updates
Locus Finance exploited for $320k while Wise Lending was exploited for $464k
Yama Finance & Xpandr Finance exploited
Gamma Strategies shares revised remediation plan
Osmosis introduces Staking v1
Laser Digital unveils Polygon-powered Libre protocol for Brevan Howard funds
Orbiter Finance confirms token airdrop while Ether Fi confirms TGE in April
Thetanuts and zkLink announces partnership to have IDO on Coinlist
Mode Network introduces Sequencer Fee Sharing
Eigen Layer introduces new LSTs and unpausing restaking caps
Frontier announces token swap to SELF
HyTOPIAgg announces HYCHAIN
Binance announces $MANTA on their Launchpool while the team shares their tokenomics for $MANTA
Interesting Projects
Satoshi VM: Bitcoin ZK Rollup Layer 2 solution with native BTC gas
Ringfence AI: AI based content creation platform
Thruster Fi: DEX on Blast which has raised from notable angels
POAT: Some Ponzi on Ethereum
Euclid Finance: Omnichain Liquid Restaked Assets
Courtesy of CJ - check out his telegram channel for daily news, projects updates and new releases
⛓ On-Chain Sleuthing
Arca Investment Group accumulating $RLB
ARca has been accumulating $RLB since mid-October. They now hold a $1 million position and seemingly anticipate a new ride up for crypto gambling.
Arca DeBank Wallet [only visible for free subs]
NFT Derivatives Suck Value From Main Collection?
Some members in Castle have been following a new NFT mint this week:
https://twitter.com/tribesofremilio
This derivative is inspired by the Remilio Babies NFT collection created around the start of 2023 by the famous Remilia Collective, known for their Miladies.
If we go on-chain, we can find some interesting wallets:
The Current biggest holder of this collection is the following address:
0xF19ef0A07A78868A009fE47ae9e7d5B6f57F56ae
The guy minted 135 Tribes of Remilio on the 16th of January for over 4 ETH. To finance these purchases, he sold an important number of Remilio Babies (the main collection) that inspired Tribes.
See the transactions :
https://blur.io/0xf19ef0a07a78868a009fe47ae9e7d5b6f57f56ae/historycontractAddress=0xd3d9ddd0cf0a5f0bfb8f7fceae075df687eaebab
In general, there is always a lot of complaints about NFT derivatives being diluting and are suppressive to the price of the main collection.
Above is a fine, on-chain example.
Ethersole building a $PEAS position
Ethersole is spotted building a new position in an altcoin. This time in $PEAS and since January 4th, he now holds $133k worth of the token.
Ethersole DeBank Wallet [only visible for free subs]
PeaPods Finance ($PEAS) aims to create the first decentralized and trustless on-chain fund product.
Twitter account: https://twitter.com/PeapodsFinance
Research and analysis by Cl
🔥 Hot Narratives
Blast Off!
Blast testnet went live yesterday with the mainnet launching on 26th February.
In the Blast Big Bang, builders will compete against judges to be featured in front of the 100k users on Blast, where $1.3B in TVL will reside.
Expect to see many fresh projects launch with HUGE incentive mechanisms, with airdrops on top of airdrops…
Bitcoin Infrastructure
After the rise of BRC-20 and other Bitcoin-focused DApps ape-able on Eth over the past few weeks, we are now seeing some projects come into the limelight with a bit more of a technical, value-added focus to bolster the offering of the Bitcoin ecosystem.
Unibot Rising from the Ashes
speculators are the bread and butter of this space
do not fade the team that brought the primitive - there is no better beta than the leader
strong influencer backing that has been quiet (rookie, tradinglord)
metrics picking up (users at/near ATH - share dune)
broken out of accumulation and looking for ATH and beyond
Redacted Finally in the Spotlight
apxETH yields at 16% (in pure ETH from validators)
only ½ of CVX votes currently being used
massively involved in Berachain baselayer design and incentives (think hidden hand built into the consensus layer)
DINERO still on the horizon
Courtesy of Atomist
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💹 Macro Outlook
Han will be back shortly.
📈 HTF Price Action Scenarios
Gm frens!
Last week price dumped back into the consolidation range at which point I stopped watching it until it gave me clear directional clues. Price has since then liquidated its range low, consolidated a little bit, and went on a massive run, showing a clear bullish direction.
Expansion out of consolidation
Big sign of strength
Re-accumulation
After printing a clear higher high price started pulling back and re-accumulating. It makes therefore a lot of sense to start looking for longs on some lower timeframes expecting continuation.
Trade responsibly and I’ll see y’all next time!
Courtesy of Vlad - trend-based trader and MentFX student
Originally published in the Castle Labs newsletter. Subscribe at research.castlelabs.io.