🔺 Are we early?

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Good Morning!

With Bitcoin back at $44k, it’s natural to be wondering, are we early? Whilst market caps are considerably higher than the start of the last bull run, the public still seems uninterested, suggesting that we indeed are at least kind of early.

As Solana airdrop season is in full swing (Jito just announced their token allocation). We share some new guides on overlooked farming opportunities.

Let’s dive in! 👇️ 

Markets

Latest rally has all of crypto wondering if it's still early to the party (3 minute read)
The question of whether we are in the early stages of a crypto market cycle is a recurrent consideration among participants, with each cycle introducing unique indicators hinting at its conclusion. The level of mainstream attention accorded to cryptocurrencies often serves as a reliable gauge of market enthusiasm.

Presently, crypto appears to occupy a relatively inconspicuous space in the public consciousness. Retail interest seems subdued compared to the last peak, a trend corroborated by data such as Coinbase's App Store ranking, which, according to The Block's Steven Zheng, has exhibited minimal growth since September.

Bitcoin Inscriptions Divide BTC Community Amid Network Congestion (3 minute read)
As Bitcoin approaches the $45,000 mark, accompanied by a surge in unconfirmed transactions on the Bitcoin blockchain, the discourse surrounding Bitcoin ordinal inscriptions has reignited. Luke Dashjr, a Bitcoin Core developer, highlighted that these "inscriptions" exploit a vulnerability in Bitcoin Core to flood the blockchain with spam.

Current on-chain data reveals an excess of 260,000 unconfirmed transactions, contributing to elevated transaction costs. Additionally, memory usage has surpassed the allotted 300mb due to the larger size of inscription transactions compared to regular ones. Dashjr explained that Bitcoin Core has permitted users to set limits on extra data size in transactions since 2013, but inscriptions bypass this limit by disguising their data as program code.

This debate resurfaced as Ordinals gained popularity in May, prompting Binance to temporarily halt Bitcoin withdrawals due to network overload and a spike in unconfirmed transactions reaching 400,000. While Ordinals face criticism, particularly from Dashjr, there exists a sizable contingent advocating for them as an evolutionary step for Bitcoin's blockchain.

Bitcoin whales resume accumulation, signaling confidence in market rally (3 minute read)
The recent surge in Bitcoin prices, marking an increase of over 53% since October 14, has coincided with a notable accumulation pattern observed across various wallet cohorts. The Accumulation Trend Score, a metric gauging the strength of coin accumulation based on entity balance size, reveals intriguing trends during this period.

Particularly noteworthy is the shift in behavior among 'whales'—entities possessing 10,000 BTC or more. Despite Bitcoin's price reaching a peak of $42,300, these whales initially deviated from their typical accumulation trend by distributing coins. However, there is now a return to accumulation among these whales, albeit at higher prices, indicating sustained confidence in Bitcoin's potential despite the elevated price level.

Making Money

SolBlaze, Kamino Finance & MarginFi Airdrop Guide (4 minute read)
This comprehensive guide will provide detailed insights on effectively participating in the upcoming airdrops from SolBlaze, Kamino Finance, and MarginFi. Starting with SolBlaze, the platform has already introduced its token and hinted at an imminent airdrop.

Moving on to MarginFi, which has secured $3 million in funding from prominent entities such as @SolanaVentures, @PanteraCapital, and @multicoincap, there's a positive expectation for its airdrop, potentially comparable to Jito's.

While Kamino Finance initially faced trust concerns related to delays in their points/referral system, they have committed to backdating platform activities for users upon the system's launch, instilling confidence in the potential promise of their airdrop. Let's delve into the details of each to guide your efficient participation in these opportunities.

Here's how I plan to make seven figures from the next SOL airdrops (6 minute read)
0xnouveau aligns with @wronguser000 and @CC2Ventures in asserting that the most promising returns lie within SOL, prompting a decision to rebalance their farms accordingly. While refraining from discussing the already overfarmed options, the focus shifts to @jito_sol criteria as a reference point. Attention is directed towards @JupiterExchange, where excitement surrounds the initial drop of 200 million worth of value in the first round. It's emphasized that despite the widespread buzz, there is a noteworthy additional 200 million $JUP available for capture currently, a detail that has received less attention in the discourse.

Misc

With Coinbase Wallet, sending money is now as easy as sending a text (3 minute read)
Coinbase Wallet is introducing enhanced features to streamline the process of sending money, making it easier, more cost-effective, and faster for users. The latest updates enable users to send money across any platform where link-sharing is possible, encompassing popular messaging apps such as WhatsApp, iMessage, Telegram, various social media apps like Facebook, Snapchat, TikTok, and Instagram, as well as email and more.

This initiative aims to simplify international money transfers, eliminating the complexities associated with routing numbers, bank account details, costly wire transfers, bank fees, and extended waiting periods—providing a user-friendly alternative. By utilizing a link from Coinbase Wallet, users can send money seamlessly via their preferred messaging and social apps, with the added benefits of no fees and instant settlement.

SEC Delays Decision on Grayscale Spot Ethereum ETF (1 minute read)
The Securities and Exchange Commission (SEC) has opted for an extended deliberation period for Grayscale's proposal for a spot Ethereum Exchange-Traded Fund (ETF). The proposal involves the authorization for individuals to trade shares of the Grayscale Ethereum Trust on the NYSE Arca market. While the SEC is legally allotted 45 days for the decision-making process on such proposals, they have the flexibility to extend it to 90 days if additional time is required. Initially slated for a decision by December 11, 2023 (the 45th day), the SEC has chosen to take more time to thoroughly comprehend the intricacies of the proposal before reaching a decision.

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