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- Jae Kwon Fork Cosmos, Trader Joe Total Reached, $AIOZ, $CHOKE & More
Jae Kwon Fork Cosmos, Trader Joe Total Reached, $AIOZ, $CHOKE & More
The Castle Chronicle: Volume 45
👀 What’s to Come in Volume 45
🔑 Key News: Headlines, Exploits, Continued Adoption, DeFi Updates, New Projects & more from CJ
⛓ On-Chain Sleuthing: feature along with Smart Money Moves from Cl
🔥 Hot Narratives from unexployed
📈 Macro Outlook: Simplified Round-up and Implications from Hansolar
📉 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
Useful DeFi Updates
Equilibria Fi LP compromised, liquidity withdrawn
WOO started compensating liquidated users during the previous incident
Heco Chain bridge & HTX exploited for $110M
Kyber Network exploited for $45M, managed to recover $4.7M from front run bots
Teleport DAO exploited
Blur founder revelas new L2 Blast which has some multisig security concerns which were addressed by Pacman
Kinto XYZ announces launch plans Engen
Nexus Mutual proposal to upgrade tokenomics approved
Token Reactor & Membrane Labs announces Tokemak v2
Circle introduces Bridged USDC standard
Stride launching stDYDX and airdropping DYDX liquid stakers
Movement Labs introduces M2 with Celestia underneath
Apecoin proposal to manage ApeChain
Etherscan launches API for GoogleDocs
Traderjoe total supply reached for $JOE
SSV Network proposal to remove current limitation of validator onboarding
Looks Rare announces "Infiltration" to make $LOOKS deflationary
Polkadot to launch Core Jam/Play, remove parachain auctions and more in 6 months
Treasure DAO building a game that will use $MAGIC as gas
Jaekwon declared to fork Cosmos Hub
Vertex, Chainflip & Cambria game live
Interesting Projects
Xebra Trade: Perpetuals dex on Movement Labs
WolfX: Dex on OKX’s new L2
Four Pillars: Web3 reputation platform
Mint Cash: UST fork, backed by Bitcoin
Anchor Sail: Anchor fork
Overpass: IP licensing marketplace.
Courtesy of CJ - check out his telegram channel for daily news, projects updates and new releases
⛓ On-Chain Sleuthing
Condom Adding $AIOZ
In the last Chronicle, we reported that Crypto Condom had been building a large position in $AIOZ.
Well, more has been added! The position now amounts to $280k.
Crypto Condom’s Wallet [only visible for free subs]
Ethersole Bullish on $BLUR
Ethersol has been building a 5 figure position on the $BLUR token since the end of SZN 2.
Ethersole has been building a multi-5 fig position in $BLUR since the end of season 2.
He now holds close to $55k.
Ethersole’s Wallet [only visible for free subs]
The Choke TWAPoooorrrr
This alfa will be visible to any subscriber 🤗
Recently, the Castle team noticed an interesting wallet making some interesting movements on-chain: 0×9c7…a03a8.
The address has been viciously twapping $CHOKE over the last few days. The last buy is now 4 days ago and it seems he has since then stopped buying. His average is around 0.10 cents and holds a >$300k position.
Thereby it became the biggest holder in $CHOKE.
This wallet had been funded by another interesting wallet that leads back to this address on Ethereum: 0xE9CE…2FD1A.
It only became active just over 34 days ago and seems to be used as “bridge” address. All the ETH >2k ($4mln) were transferred from Binance and then siphoned to other wallets.
Most of those wallets have been buying Arbitrum ecosystem tokens among which $CHOKE was the favorite.
We suspect that this address is part of a fund that recently decided to deploy an Arbitrum basket. But this is a hunch and based on nothing.
DigitsDAO Burned on $rDPX
On the 23rd of November Digits invested 35 ETH into $rDPX.
Only to exit his position 4 days later for a 20 ETH loss.
It seems that $rDPX remains cursed and the v2 promises are worth nothing.
DigitsDAO’s Wallet [only visible for free subs]
Addy: 0x0c1a3e4e1c3da4c89582dfa1afa87a1853d7f78f
Research and analysis by Cl
🔥 Hot Narratives
Most FREE Airdrop Farm
Okay, this section is more and more looking like weekly airdrop alfa, but trust me this is a good one.
I recently learned that one of the projects I had been eying for a very long time, Wynd Network, launched a product back in July that was open for anyone to join.
Their product called GetGrass allows users to “sell” their unused bandwidth with others through a browser extension.
To earn points you don’t need to download any programs. You don’t need to connect your wallet or do any transactions. You just download the Chrome extension and do what you normally would do.
Chrome Extension can be found here.
I think the idea of reselling unused internet resources is quite clever and fits in the infra-marketplace category within crypto. Which always tends to perform well.
I do want to point out that by installing and using this browser extension your IP address is exposed to a certain extent. The team says they have taken all the measures to protect the privacy of your IP address, but this is the internet and we all know how sensitive that is.
So, be aware of the risks here.
Other than that, Wynd has been an incubation project of New Order DAO. These are the same guys behind Redacted Cartel and are led by 0xSami.
Intent Based Narrative
One of the upcoming narratives is around a new term called “Intents”; A new fancy term for limit orders or customized on-chain requests, let it be in transactions (“I want this transaction to happen when gwei is at 15”) or in orders (“Exchange 100 $KNIGHT for atleas 1 $ETH”).
There are a few projects building on this narrative right now and one of them is the notorious DEUS team, native from Fantom. They have been in the news quite negatively in the past because their stablecoin broke peg.
However, besides having a stablecoin, they also built the back-end infrastructure for DEX perpetuals. They franchise the front-end to anyone, but the back-end fees go toward $SYMM token holders.
Currently, a big migration event is happening where holders of $DEUS can choose for $DEUS, $SYMM, or a combination of both.
If you are interested in intents then this might be a nice opportunity. Although, DYOR as always.
Courtesy of unexployed
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💹 Macro Outlook
Please note that if certain technical jargon or concepts mentioned in this text are unclear, you can refer to investopedia.com for detailed explanations and definitions. Additionally, for a comprehensive overview of macroeconomic events, you can explore the event calendar on investing.com/economic-calendar/.
BTC, ETH, and Macro
Bitcoin is showing some slowing momentum with about 40 days until the ‘fair’ spot ETF deadline on the 10th of Jan 2024. However macro conditions are still positive for risk.
China hard pivots towards playing nice with global powers in order to restart foreign investments and access to semiconductors.
Global liquidity continues to increase
US Bond yields continue to fall
Gold continues an upward march
CME now consistently ranks as the largest exchange in terms of futures open interest and is starting to affect prices on expiries. Currently, BTC and ETH are both trading at a high premium signaling the bullishness of institutions towards the spot ETF approval.
Macro Schedule
Wed 29-Nov : GDP 2nd estimate(Q3)
Thurs 30-Nov : PCE, US Jobless Claims
Fri 1-Dec : ISM Manu, Powell Speech
Option markets
Monthly vols took large hits as BTC got rejected off of 38k. The options market looks to be taking a breather after continued upward pressure, yet long term skews continue to stay bullish.
Courtesy of Hansolar - check out his telegram chat for all things options, crypto and DeFi
📈 HTF Price Action Scenarios
Gm frens!
Last week price started liquidating some lows for what I anticipate to be a re-accumulation. The plan therefore was to wait for that to stop and for price to go back to liquidating highs again, which is exactly what is happening right now
Clear uptrend with multiple re-accumulations
Sideways correction
Expecting consolidation before continuation
Highs being liquidated again
Price can do a lot of different things right now, but I believe longs are favorable here. If price continues sideways here or breaks down we will once again wait on the sideline for momentum to show up.
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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