Fantasy Top, $SPEC, $EKUBO, Machi Farming WHAT?! & More
The Castle Chronicle: Volume 68
👀 What’s to Come in Volume 68
🔑 Key News: Headlines, Exploits, Continued Adoption, DeFi Updates, New Projects & more from CJ
⛓ On-Chain Sleuthing Arthur Hayes and Machi Big Bro’s New Coins feature along with Smart Money Moves from Cl
🔥 Hot Narratives: Fantasy Top, Ekubo & $SPEC from unexployed & ericonomic
📉 HTF Price Action Scenarios from Vlad
🔑 Key News
Major Headlines
FED leaves rates unchanged at 5.25-5.5%
CZ sentenced to 4 months in prison
Microstrategy building Decentralized IDs on Bitcoin
Tesla adds Dogecoin payments on their website
Robinhood served Wells Notice from the SEC over crypto business
SEC delays Invesco & Galaxy spot ETH ETF
Blackrock's BUIDL applies for Arbitrum STEP application
Revolut launches standalone crypto trading platform in UK
Project Updates
Pike Finance exploited while GnusAI got exploited as well for $1.3M
ZKasino founder arrested
Tether introduces Tether Evo
Aave proposal revealed for v4 and its future
Snapshot 1 done for LayerZero and they announced an anti-sybil program
Klaytn unveils Kaia
Osmosis launching a BTC L2
Maker DAO introduced NewStable and NewGov token
Reserve Protocol introduces KNOX Dollars
Ethena updates details on ENA staking while Blast introduces Jackpot system
Bybit integrating USDe as a collateral asset
Interesting Projects
Heroglyphs: 0xMaki’s project to decentralize ETH validator sets
Anera: Decentralized market for shared liquidity
Trunk: Memecoin on Arweave/AO
Capybara DEX: Wombat Exchange’s new DEX on Kaia
Dria: Synthetic data generator with real-life distribution
Courtesy of CJ - check out his telegram channel for daily news, projects updates and new releases
⛓ On-Chain Sleuthing
Arthur Hayes keeps pilling on $PENDLE
Despite Pendle correcting heavily, Arthur Hayes has been buying a lot of tokens.
He is now holding 1.5mln tokens (~$7.4mln) and it seems that he is not done accumulating,
Machi Big Brother Farming $FRIEND with Size
Machi became a huge $FRIEND holder buy aping with size as you can see below.
Lets see the tokens distribution on Base Scan.
$FRIEND top 4 holders on Basescan
Holder #1 & #2 are liquidity pool.
Holder #3 is the contract holding the $FRIEND for the different Clubs (new feature of Friend Tech).
Holder #4 (0xf0ea..df3d), so the single biggest INDIVIDUAL holder of $FRIEND…
… is Machi Big Bro.
Machi Big Bro Wallet Address
Currently, Machi is holding 1.5mln $FRIEND and he is using around 1 million to LP in the FRIEND/wETH pool that is currently yielding high % APR.
Research and analysis by Cl
🔥 Hot Narratives
Fantasy Top, New Flavor of the Month
Fantasy Top is only a week old and has become the hype of CT.
The project is a clever combination of social and gaming, for those unaware Francesco wrote a great thread covering the project:
If you are bored and want to have some fun, go check it out.
The main tip we found is that you should not buy random packs, but rather look on Twitter and try to gauge which account will get some attention in the coming weeks. Then look on the marketplace for those accounts for cheap value.
This is much more better bang for your buck then opening random packs.
But, oh boy, that dopamine of opening a pack 😉
Ekubo Airdrop Live
I have recommended Ekubo in the past as a good airdrop to farm. Today they announced to airdrop 33% to their community! Making it a huge drop!
Go check your wallets if you have ever LP’d on Ekubo: https://app.ekubo.org/$EKUBO
$SPEC Alfa
The legend Ericonomic was so kind to share this write-up on SpectralFi on Base for us:
About SPEC:
Many Smart Money is in (its almost crazy and weird that there is so much inside).
Main concern is the airdrop, that was 8% of the total supply splited among 3% on base and 5% on eth.
Criteria for the airdrop can be found here.
Base: 1.9M claimed (still 1.1M left to claim)
Ethereum: nobody can claim it right now because its not enabled (no SC yet). This is the biggest concern, but looks like ppl who will be eligible for this airdrop wont be as jeet as base ppl (they're data scientist and stuff like this)
Made an arkham dashboard to track all the spec sitting on teams wallets: https://platform.arkhamintelligence.com/explorer/entity/0d5d0745-d82d-4b13-9bf4-90b21495ded0
Also attaching a picture of the tags for every wallet.
Im bullish, but i think best approach is to wait until eth airdrop is live.
Courtesy of unexployed & ericonomic
Use our referral system to spread the word about the Chronicle!
📈 HTF Price Action Scenarios
Gm frens!
Another week of boring price action and no confirmation of my bullish thesis. This time I want to bring attention back to the HTF and zoom out a bit to see where we’re at
Confirmed accumulation schematic
Now in mark-up
Continuations via re-accumulations
Clear uptrend
So while the lower timeframes might look grim right now, the bigger picture is still quite clear. Of course, price can do anything it wants, but right now it’s trending higher so there’s no reason to expect it to do otherwise. Now it’s all about waiting for the LTF to sync up with the HTF again before looking for new longs. Until that happens -
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.