$WIF on Binance, Doginals, Base Chain Season, DA & More

The Castle Chronicle: Volume 59

AuthorAuthorAuthor

unex, CJ CJ & 0x_Vlad
March 06, 2024

🚨 PSA Regarding Sponorships

After careful consideration, we’ve decided to introduce sporadic sponsorships to our newsletter.

Why? Simply put, it is about ensuring the sustainability of the newsletter as we continue to grow. Over the past year, our team of writers has been creating insightful content each week. To continue our growth and keep creating valuable content without charging our readers, we have decided to take on sponsorships.

Rest assured, we will make sure these sponsorships will never compromise the integrity of our content. We remain committed to providing unbiased, honest insights and we will never take on sponsorships of projects we do not believe in.

We conduct sufficient due diligence on our sponsors to ensure they’re trustworthy and legitimate. Apart from an additional small snippet around the middle of the newsletter, nothing will change for you!

Thank you for sticking with us during the bear market, we are immensely grateful for the platform we have built over the past year <3 You are part of our journey! The future is bright.

Sincerely,

The Chronicle team.

 👀 What’s to Come in Volume 59

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

⛓ On-Chain Sleuthing: Doginals & Fake Zhu Back at it Again feature along from unexployed

🔥 Hot Narratives: Base Chain & Data Availability Comeback? 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

Project Updates

Interesting Projects

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

⛓ On-Chain Sleuthing

Average Joe Bullish on Doginals

Twitter persona Average Joe recently posted an extensive thread of his thesis on Doginals. Summarized:

  • Original 10k PFP collection on Dogechain

  • Relatively small market cap: ~$8mln

  • Doge is Elon’s favorite coin, only a matter of time before he starts bull posting

  • OKX and Magic Eden have hinted at Dogechain ordinal integration

His original thread can be found here.

Well, the guy is officially betting very heavy on the succession of Doginals as he purchased the number 1 mini Doge in terms of rarity.

He bought it for around 55k Doge or close to $10k.

While NFTs on Ethereum have been decimated over the course of the last 6 months, ordinals on Bitcoin have been flourishing. Nodemonkees and Puppets even broke the top 15 in terms of market cap only this year.

The existence of Dogechain ordinals is still somewhat flying under the radar, but it’s also unclear whether these will become as popular as Bitcoin ordinals.

Thank you to DoginalDaily for putting this back on my radar. Go follow them if you want to stay up to date on news around Dogechain ordinals.

Fake Zhu Ruining Charts Again

The infamous “Fake Su Zhu” is back at it again. We have covered him here in the past for his FOMO into trending coins and subsequential massive selloff when the coin is no longer popping.

He tends to put in multi 6-figs in, making convictional bets.

On Twitter he is often made fun off, because he tends to quickly cut his bags once tides seem to change and historically has marked the bottom of many of his past holdings.

Of course, the guy has seen massive success as well for example on $NMT, but for the sake of consistency we will cover another banger chart of his.

I present to you the KEX chart, decorated by Fake Zhu’s buys and sells. It is almost a work of art.

Some of the Castle bro’s remain bullish on the project as it essentially combines modularity properties into one Layer 1 blockchain.

As always DYOR, but definitely look into KEX.

Fake Zhu’s Wallet [only visible for free subs]

King of Retardio

If you are into shitcoins, we might have a nice address to track for you. CT persona Larp von Trier has become widely known for his promotion of $RETARDIO very early on.

In fact, so early, that around his first tweets about the coin, the marketcap was barely $10k. The meme found traction and is now sitting at $30mln. That’s why you might want to put the following addresses on your watchlist.

Larp von Trier Wallet 1 [only visible for free subs]
Larp von Trier Wallet 2

Research and analysis by unexplored

Bringing the $600T Interest Rate Derivatives Market to DeFi

Castle is proud to have IPOR on as a sponsor for this weeks’ edition. IPOR is a truly robust and unique DeFi platform bringing a cutting-edge product to the table. Since launch over $4.3bln in interest rate swaps have been carried out on IPOR. This reflects the significance of such a product within DeFi.

IPOR is to DeFi what LIBOR was to TradFi.

The IPOR (Inter Protocol Over-block Rate) protocol is on a mission to de-fragment DeFi money markets and introduce plain vanilla interest rate (and now stake rate) derivatives (IRD and SRS) to decentralized finance. IRD are the second-largest market in TradFi in notional terms, just after Forex, while it’s almost non-existent in DeFi. Yet.

IPOR is positioned to play a critical role in the DeFi transition from a purely speculative industry to one catering to the needs and requirements of institutional players.

Like LIBOR, which served as a benchmark for short-term interest rates, IPOR offers a mid-market interest rate sourced block-over-block from the largest money markets in DeFi. In addition, the Protocol offers the first derivative contracts that reference that rate.

Want to learn more, open your first IPOR swap, and earn some IPOR tokens while doing it? There are two opportunities that you can make use of:

🔥 Hot Narratives

Base Chain Becoming Based

The meme action on Base has been driving massive inflows to the chain. Certain memes made absolute bonkers of ATHs, but now the whole market seems to be correcting and many of the memes are correcting heavily as well.

That being said, the past week may have been a small taste of what is yet to come. Historically, Coinbase has been the gate for massive retail inflows, despite occasional flops such as their NFT marketplace back in the last bull run.

The company has embraced on-chain operations. They are now all-in on-chain and are pushing Base chain hard.

So far they have integrated Base well, but likely will integrate even more including with DeFi there. Recently, CB Ventures acquired Aero, the main DEX. This led to speculation on the acquisition of other DeFi tokens such as Moonwell and potentially in the future IntentX.

One without a token. One to be active on.

Data Availability Round 2

Markets are heating up and so are narratives. Of course, AI is still one of the more trendy topics, but we expect that modularity and DA will find a wave soon again.

Celestia and DYM have been correcting during the run-up, but may have found a bottom here. Both are young projects with no bag holders and no upcoming (short term) token unlocks. Another great DA project, $NOIA, also corrected, but not massively, and has stood its ground.

This market segment is still in its infancy and bears a lot of potential.

You might want to keep tabs on the aforementioned projects and watch for some good dips.

Courtesy of unexployed

Use our referral system to spread the word about the Chronicle!

📈 HTF Price Action Scenarios

Gm frens!

The market keeps on giving which is great to see. After the last marked re-accumulation, I would no longer look for any new entries until the daily chart re-accumulates. If you’re managing profits here you’re golden. If you’re looking for new long entries you’re imho playing with fire.

  • Clear uptrend with multiple re-accumulations

  • Overextended

  • Waiting for bigger re-acc on HTF

During bull runs, old and newly formed resistances are there to create liquidity above those points and eventually break through. However, this process can take some time. Those who were bag-holding from ages ago look to get out at break-even which will ultimately create some sell pressure. We expect this sell pressure in the form of re-accumulation.

After the market goes for a marathon run like it did now, we’d like to see it rest for a bit. And once it’s ready, we jump back on the train again. Until that pause in the market happens though, I won’t be looking for any new positions.

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

Courtesy of Vlad - trend-based trader and MentFX student

The Alpha Assembly

Receive Telegram notifications of our posts and those of our partners! Join the Alpha Assembly Telegram channel today!

The central hub for anything crypto:

Thanks for reading, please give us a follow on Twitter at @Castle__Cap and visit our website to learn more about our services.

Virtually yours,

The Castle

🔔 p.s. You can join the Alpha Assembly Telegram channel to receive notifications of our posts and those of our partners!

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.

Join the conversation

or to participate.