WOW! Insane. 114 million votes.

For those unaware. Castle ran for the position as one of three Arbitrum application advisor for the upcoming Long Term Incentive Program.

And we were elected!

Thank you to everyone who voted for us!

We love this space and we are very excited to participate in an official role at the Arbitrum DAO to push this industry forward and help Arbitrum grow.

 👀 What’s to Come in Volume 53

🔑 Key News: Headlines, Exploits, Continued Adoption, DeFi Updates, New Projects & more from CJ

⛓ On-Chain Sleuthing: Machi Accumulating Blur/Blast, Hayes Doubling Down on Perp DEXs feature along with Smart Money Moves from Cl

🔥 Hot Narratives Mount Gox, EigenLayer, AltLayer & Magic Eden Airdrop, from unexployed

📉 HTF Price Action Scenarios: from Vlad

⚔️ A Call to Arms

Think you have what it takes to enter the Castle and contribute to funding and advising projects across the space?

Fill out an application form!

🔑 Key News

Major Headlines

• Solana Mobile unveiled Saga crypto phone v2

• Animoca Brands Anichess Game partners with Magnus Carlsen

• MAS announced BTC ETF cannot be listed in Singapore

• SEC delayed Fidelity Spot Ethereum ETF

• Hong Kong Firm Targets Spot Bitcoin ETF Launch in First Quarter

• Elon Musk introduces X Payments

• Terraform Labs Files for Chapter 11 Bankrupty in Delaware

Project Updates

• Socket/ Bungee Exchange exploited for roughly $3M

• Concentric Fi exploited for $1.7M

• Trezor investigating security incident about customer information leak

• TrueUSD depegs

• Zachxbt exposes SAVM threadors dumping tokens

• Suspicious $MANTA movement exposed by Definalist

• Frame & Jupiter launching on January 31st

• Finschia merging with Klaytn blockchain

• Delphi Labs introduces Asteroid Protocol

• Alt Layer shares their token launch plans and airdrop details

• Frax Finance's Layer 2 Fraxtal to Debut in February & introduces FXB module

• Conflux announced EVM-Compatible Bitcoin L2

• Dymension shared tokenomics

• Eigen Layer eyes new security model

Interesting Projects

• Vector Reserve: LPD protocol using Eigen staked Eth

• Allo: RWA applications utilizing blockchain

• KIP Protocol: Web3 Base Layer for AI

• Variational: Bilateral derivatives on any token

• Eigen Pie: Liquid Restaking SubDAO created by Magpie team

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

⛓ On-Chain Sleuthing

Machi Big Brother Bullish $BLUR & BLAST

The famous NFT degen & BAYC connoisseur, Machi, has been accumulating a big bag of $BLUR over the last few weeks.

To get to this stage, he sold a lot of $APE, $ETH, and various NFTs. The acquired $BLUR has been staked on the platform to accumulate points. He now holds 8 figs in the platform.

But his allegiance does not end there. He has also been depositing millions in the Blast multi-sig. Now over $23 million!!

Arthur Hayes THE Perp DEX Maxi

We know Hayes as one of the biggest $GMX holders. Well, he has been loading up heavily on another perp DEX: $dYdX.

One of the addresses that we marked as associated with Hayes has accumulated a position to be worth between $6 and $8 million in $dYdX.

I think that so far, Castle is the first to cover this on-chain move.

Research and analysis by Cl

🔥 Hot Narratives

Mount Gox Distribution Within 3 Months

• Reddittor breaking the news that Mount Gox is contacting creditors about distribution of their BTC. Original post here.

• Around 200,000 BTC is expected to hit the markets before October of this year (likely earlier).

EigenPie & EigenLayer Alfa

• New SubDAO from Magpie, a yield booster built around prominent goverance tokens: EigenPie.

• Succesful SubDAOs for Pendle, Radiant, PancakeSwap, and now EigenLayer.

• Staking ETH on EigenLayer through EigenPie yields multiple benefits:

  • EigenLayer Points

  • EigenPie Points > $EGP airdrop and $EGP IDO allocation.

  • More details on other multipliers in this tweet.

Right now there are a bunch of protocols building on top of EigenLayer and rewarding users with additional rewards for staking ETH through them (Kelp, Renzo, EtherFi to name a few).

EigenPie is another great example, but if you want to take a little bit more risk and leverage your capital more optimally it may be worth to dive into the Pendle YT/PT strategy outlined in the following thread. NFA:

AltLayer Airdrop Details

• AltLayer announced their airdrop details and its the first to reward EigenLayer Restakers. Find full details in their Medium blog.

Magic Eden Airdrop

• Magic Eden, one of the bigger NFT marketplace projects, recently announced their own rewards program.

• Time to dust off your wallets as they will account for activity dating back to 2021 (yes they have been around for so long).

• Official announcement and more details in this tweet.

Courtesy of unexployed

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💹 Macro Outlook

He will be back…

📈 HTF Price Action Scenarios

Gm frens!

Last week price expanded out of its consolidation range and printed a nice higher high, showing good strength in the market. Since then I have been waiting for price to re-accumulate and start its bullish continuation. Unfortunately price didn’t catch any bids on the lower timeframes and has been dumping ever since.

• Expansion out of consolidation

• Clear higher high

• Deep pullback

The high timeframe is still very bullish, but the lower timeframes are currently bearish. Therefore we wait until these 2 sync up. There is no point trying to catch a knife here, nor is there a point to short this market yet (imho).

I am therefore sidelined until some clear sign of strength shows up on the lower timeframes. Nothing to do, just outperform the market by staying out again.

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

Courtesy of Vlad - trend-based trader and MentFX student

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The Castle

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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.