GM Digest #167 — The Power of Matrixport Analyst
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
Matrixport Analyst Crashes the Market?
• BTC, ETH and the overall market declined yesterday after the release of a post detailing that “Matrix on Target projects a January rejection for Bitcoin Spot ETFs by the SEC, cautioning traders to hedge long exposure. Expecting -20% drop in BTC price” Full Post HERE
• The controversy arose from the fact that Matrixport analyst asserted that SEC will reject the ETF but provided no concrete evidence as to why it’ll get rejected
• The analyst further changed their stance in a day after posting that BTC is going to hit $50k on Tuesday and then posting the bearish post on Wednesday
Florence Public Sale
• @FinanceFlorence is conducting a public sale of its $FFM token on Jan 6, lasting for 24 hours
• The $FFM token, will be offered at $0.025 each with 40,000,000 tokens available for the sale, aiming to raise $1M in ETH
• The initial market cap will be $1.5M with an initial circulating supply of 6%, and an FDV at $25M
• There's no lockup for public sale tokens
• The FFM token will serve for governance and have a buyback and burn mechanism
• The public sale offers 4% of the total token supply, with an additional 2% from the treasury to seed liquidity post-DEX listing
Introducing Splurge Finance
• @splurgefinance is a DEX trading terminal that has just launched it's beta on Arbitrum
• Its first product, Adaptive Limit Orders, allows you to automate trades based on relative percentage changes rather than specific prices
• This feature enables users to execute trades during significant market movements. Users can set conditions for when they want to buy or sell a token, such as executing a trade when the price of a specific token drops by a certain percentage below the 15-minute moving average
• The platform utilizes EIP712 for trade condition signatures, with price data tracked through @dexscreener, @GeckoTerminal, and @0xProject, ensuring accurate price deviations and efficient trade execution
• Users can trade almost any Arbitrum token, provided it's not a tax or fee-on-transfer token
Bounce Roadmap
• @bounce_finance's 2024 roadmap introduces the Bounce Bit, an innovative BTC staking appchain solution
• Bounce Bit is designed to establish a smart contract execution environment centered around BTC, thereby creating a network for DeFi, NFT, and SocialFi activities
• The roadmap starts in January with the Bounce Bit Gaming Season and the TVL Building Event
• In February, the platform will launch Bounce Bit AI Low Cap Season to integrate AI technology into Bitcoin ecosystem apps
• March sees the unveiling of Bounce Box and early bird access, offering users customizable DeFi experiences
• April is marked by the Bounce Bit launch and the BTC halving event
• From May to December, the focus shifts to building the Bounce Bit ecosystem, particularly the App Store and driving Bounce Box adoption
Wasabi Perps Public Launch
• @wasabi_protocol is an on-chain leverage protocol and has launched their latest product — Asset-Backed Perps on Ethereum Mainnet
• Wasabi Perps introduces new features such as direct market impact where opening positions on Wasabi affects the price of the underlying utoken and asset backed positions where positions are backed by the underlying tokens as collateral
• Non traders are also able to deposit assets into their vaults to earn yield. The team is currently introducing their season 2 points system allowing users to earn Wasabi Points when interacting with the protocol
Algebra’s Exploit
• @CryptoAlgebra has been exploited for ~211.9 $ETH (worth ~$469K) as reported by PeckShield — There’s already $3.4m accumulated on the Hacker’s wallet
• $ALGB price has declined by 18% since the exploit. Would suggest removing any LPs on DEXs that utilize Algebra
Misc News
• @etherscan announces acquisition of @solscanofficial
• @Buffer_Finance launches Above/Below Options
• @binance introduced @XAI_GAMES on the Binance Launchpool and launchpool stakers can Farm XAI by staking BNB, FDUSD and TUSD
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*