The Blockchain Bulletin Edition#8

Hi, degens! Are the months and years of waiting finally worth it? Is the bull finally here? We take a look at the green markets, Bitcoin’s new ATH, and a lot more in this edition. 

The Bigger Picture

Bitcoin's Meteoric Rise and Trump

Bitcoin recently broke out from a six-month range, soaring to an unprecedented $93,000. This milestone has shocked investors and solidified its position among the world’s top financial assets.

In doing so, Bitcoin surpassed silver’s market cap and has secured its position as the seventh largest asset by market cap in the world just above Aramco. This signifies Bitcoin’s growing role as a digital store of value.

The rally has rekindled excitement around cryptocurrency, drawing the attention of both institutional and retail investors who view it as a hedge against economic uncertainties and inflation.

Optimism after the US Election

Donald Trump’s recent election win has brought a wave of optimism across financial markets, and crypto is no exception.

With an expectation of more favourable regulatory conditions, retail investors have flocked to crypto assets, driving the altcoin market cap (Total3) up by $600 billion.

The surge in retail participation underscores the unprecedented mania surrounding digital assets, with many hoping to capitalise on what they view as a crypto-friendly political landscape.

ETFs launched by index management funds such as Blackrock saw over 1 billion dollars in volume following Trump’s victory.

Microsoft shareholders eye Bitcoin

Bitcoin and cryptocurrency has been thrust to the mainstage, particularly since the re-election of President Trump into office.

But a closer look at market data indicates that it has been gaining prominence as an investment opportunity since the ETF announcements earlier in the year.

Microsoft is only the most recent major public limited company to consider investing in Bitcoin as a means to diversify its asset portfolio. Its shareholders will vote on a proposal to invest in Bitcoin in December. 

Cryptocurrency has been touted as an unstable market to invest in the past. But this perception continues to change with more and more eyeing bitcoin and other crypto as a hedge against inflation in these unpredictable times.

Dogecoin’s meteoric rise

Dogecoin, the beloved memecoin, has also had an astounding month, adding $42 billion to its market cap following a significant price surge. This increase reflects renewed interest from retail investors, particularly those drawn to the playful and community-driven spirit of Dogecoin.

Its climb highlights the role of meme coins in today’s crypto culture, where sentiment and social media buzz can transform an internet joke into a financial powerhouse.

Price has surged to almost 0.42$ from a low of 0.09$ just two months ago. It has surpassed the market cap of Ford Motor Company.

And of course, it does not hurt that Dogecoin’s biggest proponent, Elon’s closeness to the President elect, has been rewarded with a semi-official policy role.

The formation of the conveniently-named Department Of Government Efficiency (DOGE) will offer up ample opportunities for Elon and the new President to bring up the word ‘DOGE’ as often as they want.

The Memecoin Supercycle

The rise of memecoins has fueled a speculative wave, and $LOCKIN stands out as a prime example. Since we mentioned it in the previous edition, $LOCKIN has surged by an astonishing 1,000%.

Its exponential rise is still overshadowed by many coins that have done even more multiples. The space is rich with opportunity waiting for the people to cash in. Don't get left behind!

These are our memecoin picks: $Aura $Goat $Wif $Zerebro

Whither ordinals?

After last year’s hyper attention on ordinals, volume has died down post runes and attention has shifted away. There are of course, outliers that have performed well, especially in the runes space, but Bitcoin’s pump has not led to a shift of volume back into ordinal projects.

However, all is not lost; the biggest projects such as OMB and Bitcoin Puppets have managed to retain a stable value and floors have not dropped too much across the board.

There are also hopes that the euphoria around Bitcoin’s increasing value might flow its way into ordinals as well.

If you are looking to invest in ordinals, only the most valuable collections with reputable teams are the best bet. Everything else is likely to change and new projects will likely gain volume if ordinals and runes see a return to form.

NFTs with Bros

Apechain saw high volume over the last two weeks, with great returns for quick flip projects, but now lacks trading volume for plays.

Most chains are almost dead but SOL has a stealth play or two every other day, with the occasional degen launches.

The best approach for now is to watch for stealth or degen launches with strong memeability or a solid team backing and community support.

New chains like Abstract, Berachain and more are also emerging, so it’s smart to position yourself early for their mints and launches. A short list this time, but keep an eye on my twitter for the most promising cooks to come.

Arbitrum

Ethereum

BASE

BTC

SEI

This is it, degens. There are opportunities to make money everywhere. Hope you are catching them as they come. Tweet at us to send us coins, projects or potential gems that are on your watchlist!