Exploits, $DYM Airdrop, Bitcoin ETF, Sleuthing & More

The Castle Chronicle: Volume 50

AuthorAuthorAuthorAuthor

0x_Vlad, unex, CJ CJ & C-L.eth
January 03, 2024 • Est. Reading Time: 12 minutes

We did it, guys.

50 Chronicles.

Shoutout to our audience and writers & thank you for making the Chronicle what it is today.

We can’t wait for 2024. The foundation is laid for crypto to break through in ways we have not seen before.

Gaming, DeFi, infrastructure, mainstream adoption, everything seems to make more and more sense, and we love to share this journey with you!

On to 50 more Chronicles packed with info, news, and alpha. Only the best.

💪💪💪💪💪LFG💪💪💪💪💪

 👀 What’s to Come in Volume 50

🔑 Key News & more from CJ

⛓ On-Chain Sleuthing: Celsius Dumpoorrr Wallet, GCR Likes Memecoins, $PRIME feature along with Smart Money Moves from Cl

🔥 Hot Narratives Bitcoin ETF & TIA Airdrops 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?

🔑 Key News

Major Headlines

  • Reports emerge suggesting Mt. Gox creditors are receiving repayments

  • Microstrategy buys more Bitcoin

  • India bans 9 CEXs

  • Vitalik Buterin shares updated 2024 roadmap for Ethereum

Project Updates

Interesting Projects

  • Hypertensor: L1 P2P network hosting LLMs and custom models incentivized and secured by a blockchain

  • Cannon: Deployment automation & development multi-tool for any EVM chain

  • Lambda Protocol: L1 protocol bringing smart contracts to Bitcoin

  • EMC Protocol: Bridging computing power network and AI Dapps

  • Readme: Decentralized encyclopedia

  • Peach: L2 built on OP stack powered by Celestia

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

⛓ On-Chain Sleuthing

The Celsius Dump Wallet

The following wallet is associated with Celsius liquidators and it has been selling millions of $ETH daily, killing the PA. Recently, it has stopped or paused selling, and a pump followed.

The last major sale was on the 22nd of December. Maybe the liquidators are on leave until New Year’s?

Celsius Wallet [subscribe to see]

Ethersole Buying $PRIME

One of the wallets associated with well-known CT influencoorrr Ethersole has been accumulating $PRIME. It is one of the leading projects for blockchain gaming and has been around for years now.

Ethersole holds a $190k position in $PRIME and is anticipating a gaming focused trend to occur.

Ethersole Wallet [visible for subscribers]

GCR-associated Wallet Bidding Memes

A wallet that is rumored to be associated with one of the smartest traders on CT, GCR, has been building positions in memecoins on different chains.

His positions:

It seems that this address is betting big on memecoins as a winning segment within crypto. Perhaps with the thesis of more retail coming in and money flowing to memecoins.

GCR Wallet [visible for subscribers]

 

Research and analysis by Cl

🔥 Hot Narratives

Bitcoin ETF Fever Has Caught The Markets

The suspense is rising with regards to the potential approval of a Bitcoin ETF this month. Last year, the SEC postponed their decision on many of the applications of a spot Bitcoin ETF, but on the 10th a final deadline for the SEC is set and there is a high likely hood we will see the first approval (of many).

On the infamous Polymarket, users can place their bets on whether a Bitcoin ETF is approved by January 15th. The current price is 87 cents implying the market agrees on 87% chance of approval.

The overall consensus of CT seems to anticipate a dump after the approval. Be aware that most of the time the most likely outcome is the most entertaining one and might be max pain to the upside.

Back in December of last year a memecoin with the ticker $IBIT was created resembling the anticipated ticker for the Blackrock ETF. Since then, the coin has pulled multiples and is a good temperature check for potential other ETF memecoins that arise during the whole process. Not necessarily new tickers, but other events that may produce a good meme. As always it is better to bet on the first mover ($IBIT) than on beta plays.

The $DYM Airdrop

Dymension is a project that offers Rollups-as-a-Service and allows anyone to easily spin up a rollup using their platform. On their testnet they eventually had over 980 rollups going.

We are off to a good start as they announced their token airdrop yesterday. Similar to Celestia, any unclaimed tokens will be distributed to everyone that claimed them. So you better get checking!

TIA stakers are cooking with this one as all wallets that have staked before December 19th receive 200 $DYM at a minimum and you only had to stake 1 TIA to be eligible (those damn insidooorrr sybils).

Other eligible parties are Cosmos stakers, Ethereum wallets, and holders of select NFT collections (including Pudgy Penguins).

If you have a bunch of old wallets on Ethereum, there is a high chance you are eligible for some DYM tokens (around 20-80). It may be worth digging up some old seed phrases and checking some wallets you have used.

This is the first (real) airdrop to TIA stakers, something that we anticipated and highlighted in the Chronicle a few months ago. If you have not staked some yet, it is recommended to do so immediately if you want to increase your airdrop chances. Around 10-30 per wallet would be sufficient. The 1 TIA threshold will likely get gamed and disregarded by other projects.

To give a glimpse into other projects that are building on top of Celestia or are affiliated with them (full ecosystem overview here):

  • Eclipse: $15mln raised at <unknown> valuation.

    • An Ethereum L2 powered by the Solana Virtual Machine.

  • Berachain: $42mln raised at $420mln valuation.

  • Movement Labs: $3.4mln raised at <unknown> valuation.

    +++ plenty more 👀 👀 👀 

Courtesy of unexployed

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💹 Macro Outlook

Unfortunately, no macro outlook this week. Come back next week!

📈 HTF Price Action Scenarios

Gm frens!

Last week we waited for more directional clues. The HTFs are generally bullish, but the 4h-ish was consolidating. The plan was to wait for price to break through the most recently formed supply and start watching for longs again.

  • Re-accumulation

  • Price breaking out of consolidation

  • Longs are favorable

Although I would have liked to see a stronger break out of the consolidation area, I think this is good enough to look for some longs already. My expectation therefore is for this trend to continue. Should prices break down I will by no means start shorting this, rather I’d sit on the sideline and wait for the price to sync up with the bullish HTFs again.

Overall I’d say we’re headed into 2024 with a rather bullish bias and I’m excited.

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

Courtesy of Vlad - trend-based trader and MentFX student

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Virtually yours,

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.

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