GCR Spotted On-Chain!, ETH ETFs LIVE! & More

🔑 Key News

Major Headlines

• ETH ETF goes live & Arkham tags all the addresses

• Grayscale launches new fund for decentralized AI

• Wintermute in Talks to Raise Funds from Tencent

• Binance gets court approval to invest customer funds in US Treasury Bills

• Messari founder steps down as CEO

• Biden drops out of presidential race and endorsed Kamala Harris

• Hamilton Lane launches private credit fund on Solana

• Toyota researching on how to introduce mobility into public blockchains

Project Updates

• WazirX multisig hacked for $235M

• RhoMarketsHQ exploited but recovered funds

• Superrare & PolynomialFi to launch an L2

• Polygon announced Matic>POL date

• Y2K proposal to launch "Fractality", a basis trading protocol

• BananaGun to be listed on Binance soon

• AVAX tokens airdropped to wallets that participated in Memecoin Rush

• Apecoin proposal to launch ApeCoin Hotel in Thailand

• Mantle releases $COOK tokenomics and Season 1 allocations

• Jupiter Exchange launching memecoin with Irene Zhao

• AltLayer changes token vesting

Interesting Projects

• Quantico: Stealth project

• The Sink L2: L2 chain designed to carry native-yield to its logical conclusion

• KOR Protocol: Powering the Largest Onchain IP Economies

• Calyptus: Career platform powered by AI & onchain credentials

• NPC Labs: Tech-enabled goods for world-class brands

• AsianMom: Jupiter Exchange x Irenezhao’s memecoin

Courtesy of CJ - check out his telegram channel for daily news, projects updates and new releases

⛓ On-Chain Sleuthing

Is GCR a fund now?

Our Sleuth found some interesting info this week. This addy: 0x5fbc6e1aaf5bc0a1bd06d4f9e60b92d722885256. It was tagged as GCR in our list and deposited $1.4mln to Binance last week. Deposit address: 0x76c5c5f7210115d76397546018db7494693305c3.

TX: https://etherscan.io/tx/0x7c5eb9a0fa3fb8f71929ad018d6799e499d0fd65e535f614e2fa0b69224cbc43

At first sight, this seems to be a normal move of stables coin from one address to another one.

Thing is, we found that this Binance deposit address has been used by different address over time.

One of them is the friendtech addy of https://x.com/0xMesmerizing which deposited some ETH on this same Binance deposit address in the last months

& looking on Arkham, the address seems tagged as 0xMesmerizing

This 0xMemesmerizing is a member of the rebirthDao, which is the GCR’s own DAO.

In conclusion:

Our theory is that « GCR » is now some form of a fund managed by the top Rebirth Dao’s member.

Research and analysis by Cl

🔥 Hot Narratives

ETH ETFs

• The time has come and the ETH ETFs have been approved

• So far it has not been that great in terms of price action as ETH has barely moved

• But the volumes have been impressive:

  • First day did $1b in total volume which is about 23% of spot Bitcoin ETFs.

  • Blackrock SPOT ETF ETHA had a $260+mln inflow on the first day.

  • Bitwise ETHW had a $200mln inflow

• Grayscale has been selling, which was expected. It has been reported that on the first day alone $500mln was sold, which could explain the dampening effect on the price action.

The inflows and outflows of the ETH ETFs on the first day. Notice the ETHE column and the outflows it had.

AVAIL Airdrop

• For those who claimed AVAIL, you should have received it in your SubWallet.

• Currently, trading on most major exchanges

• Koreans were eating as there was a huge premium on Bithumb

• Be wary of the 1 year unlock cliff for the remainder of the tokens

been busy, scuzi for the short section this week

Courtesy of unexployed

📈 HTF Price Action Scenarios

Gm frens!

Last week we talked about what needs to happen for me to become bullish again. The 1st step was for the most recently formed supply to get fully absorbed and price to move higher through it. While price DID technically move through it, the way it did it is not what I’m looking for. This tiny peekaboo could easily be a liquidity grab for re-distribution purposes before bearish continuation.

I want to see a clear sign of strength (just like indicated on the chart) before stepping down to lower timeframes and looking to follow the trend via re-accumulation. Until that happens there’s absolutely nothing to do

• HTF re-accumulation

• Choppy market/consolidation

• Flat 50 moving average

• No indication of trend continuation just yet

If price manages to break through here we might get some interesting setups in the coming weeks. If it gets rejected here, we’ll be back in a consolidatory market that could take weeks or even months. Either way - patience frens.

Trade responsibly and I’ll see y’all next time!

Courtesy of Vlad - trend-based trader and MentFX student

In our newsletter, we may discuss projects or tokens in which we hold positions. While we aim to provide informative content, our views are not financial advice. Please conduct your research and consult professionals before making investment decisions. Crypto markets are volatile, and past performance doesn't guarantee future results. Invest responsibly, and be aware of the risks. Your capital is at risk, and we do not accept liability for any losses.