Saylor Buying MOAR, $W, Sequencers, StarkNet Airdrop & More

👀 What’s to Come in Volume 56

🔑 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 unexployed

📉 HTF Price Action Scenarios from Vlad

🔑 Key News

Major Headlines

• OPNX to shut down with mysterious new exchange as replacement

• Robinhood Connect integrates Meta Mask Buy Crypto aggregator

• MicroStrategy acquired 850 bitcoin for $37.2 million in January

• Thailand waives value-added tax on crypto gains

• Fidelity allocating spot BTC to their All-in-One Conservative ETF

Project Updates

• Playdapp exploited

• Trade Voodoo outlines compensation plans

• Binance listed $DYM

• Hedera partners with Saudi Ministry of Investment MISA

• Axelar Network introduces Interchain Token Service

• LayerN introduces Layer N StateNet & Decentralized Verifier Networks

• Treasure DAO introduces Infinity Chains

• Wormhole & Tapioca DAO announces tokenomics and airdrop

• Pyth Network announces retroactive airdrops for DAPPs

• Frax Finance announces Fraxtal launch

• Merlin Layer2 announces Merlin's Seal farming program

• ENSdomains might build their own L2

• Synthetix potentially building their own chain called SnaxChain

• Chromia introduces their Economy Chain

• Sushiswap building derivatives platform called Susa on Layer N

• Solana Mobile 1st snapshot done

• Pandora updates on major improvements done

Interesting Projects

• Zenith Farms: Airdrop Automatization Tool

• SlashProof: Staked and restaked assets security

• Susa: Sushiswap’s derivatives platform on Layer N

• Re²: Multichain restaking protocol

• Air Trade: Airdrop Marketplace

• EO3: Earth Data and Intelligence + Blockchain powered by DePin

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

⛓ On-Chain Sleuthing

Smart money on PUDGY MILADY

A new Milady derivative hit the market and combines characteristics of the shizo with elements of Pudgy Penguins. It has captured the attention of some big CT folks.

Collection: Pudgy Milady

A wallet associated with Ethersole, has been loading up on these bad boys. 40 pieces in total.

Ethersole’s Blur collection

Arca not Smart Money

Remember that we covered Arca to load up on $RLB tokens?

Well, they marked the top. We estimate that they are now down over $500k on this investment since October ‘23.

This institution has been known for buying a lot of altcoins and those topping shortly after.

Add this wallet to your top signals list: Arca DeBank page.

Research and analysis by Cl

🔥 Hot Narratives

Shared Sequencers Narrative

• Modularity is here to stay as Celestia and EigenLayer are clearly proving.

• One vital building block are shared sequencers that serve multiple rollups.

• Many projects that are building & here is our list that you need to keep tabs on:

  1. Espresso Systems

     • Building a decentralized sequencer and data availability layer specifically for Ethereum aligned rollups.

     • Close ties with Arbitrum

  2. Radius

     • Shared sequencer layer specifically designed to prevent harmful MEV.

     • Uses encrypted mempool.

  3. Astria

     • Uses Celestia for DA.

     • Astria EVM is first rollup to use the decentralized sequencer of Astria.

This is our personal top 3. It may take some time before we see these projects go live.

StarkNet Token Launch 20th of February

• StarkNet Claim contracts were renamed, so token can be expected within a week.

• Update: While I was writing this StarkNet officially announced their token to be dropped on the 20th of February. Find official details in the following Medium post. This post will cover all details on eligibility criteria.

• As you can see, four types of users are able to claim $STRK:

  1. StarkEx Users:

     Users of dYdX, Sorare, ImmutableX, ApeX, rhinoFi, and some others.

  2. Github:

     StarkNet is known for their praise to developers. Github developers that have contributed to certain projects, standards, and StarkNet will likely see a good drop.

  3. StarkNet Users:

     Of course, ordinary users of the chain will be rewarded. Snapshot was made in November, allegedly.

  4. Ethereum Users:

     Early power-users of Ethereum are also rewarded. Criteria unknown.

• What does this mean?

• Potentially huge inflow of capital into StarkNet and more attention to the chain, but on the other hand we could also see a $JUP play out as many people were left out from the airdrop.

• For those that have been farming Ekubo since we covered it here, gg, at least you have good beta exposure.

• All others, you can still farm Ekubo by making pools and generating fees and another great farm is Avnu, the main DEX aggregator on StarkNet.

• Memes are of course also an option, but the likes of AKU and OWL have been making multiples already and the r/r quickly has faded.

• Update: Due to the overall public dissapointment in the airdrop as many were left out the memes have been retracing HARD.

Courtesy of unexployed

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💹 Macro Outlook

Hannnnn, where are you??

📈 HTF Price Action Scenarios

Gm frens!

Last week I was waiting for a clear and sustained break of the recently formed supply zone. Price finally broke through and didn’t get instantly rejected, which to me is a clear sign of potential continuation, especially since the entire move is coming from a clear demand zone.

• Expansion out of consolidation

• Deep pullback into demand zone

• Clear bullish continuation

After the break price has re-accumulated on the lower timeframes multiple times and presented some beautiful entries. The HTF and LTF are now synced and moving together to new highs. Right now price seems to be a bit overextended for my liking, so I would wait for a bigger re-accumulation once again before getting involved in any new positions.

Patience is key! You don’t need to become one with the market and be able to trade every move. Instead, focus on only trading when the context is showing you clear directional cues across timeframes.

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

Courtesy of Vlad - trend-based trader and MentFX student