👀 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

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🔑 Key News

Major Headlines

• CZ steps down as Binance CEO, RichardTeng to replace him

• Bittrex winding down urges customers to withdraw funds

• SEC accuses Kraken of operating an unregistered trading platform

• Sam Altman rejoining OpenAI

• Zipmex halts trading in Thailand

• MexC affiliates have access to user trading data 

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• Equilibria Fi LP compromised, liquidity withdrawn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.

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.

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.

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.

Deus Migration Article

SYMM Docs

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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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.