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- Bullish at Dawn, By Noon All Gone
Bullish at Dawn, By Noon All Gone
The morning looked impressive with many altcoins up +4%, but afternoon trading wiped out most of the gains
Jonathan Morgan
August 29, 2024
08OVERVIEW
Bullish at Dawn, By Noon All Gone
Before we dive in, here’s today’s crypto market heatmap:
Source: attp.santiment.net
And here’s a look at crypto’s total and altcoin market cap YTD:
Most bullish/bearish symbols on Stocktwits at the close: 📈 $DAI, $ICP, $APT, $SEI, $UNI, 📉 $LINK, $ARB, $MKR, $BIT, and $STX
*If you’re a business and want to access this data via our API, email us.
News In Three Sentences
Bitcoin, Ethereum, And Solana News 🪙
🚀 Renzo Protocol Drops Governance Token on Solana, Wormhole Does the Heavy Lifting
Renzo Protocol just launched its governance token, REZ, on $SOL, and it’s flexing Wormhole’s tech to bridge from Ethereum. The token’s pegged 1:1 with its Ethereum cousin and is primed for DeFi action on Solana—think collateral and liquidity rewards for REZ/SOL and REZ/USDC pairs. And yeah, the community’s getting a piece of the pie through airdrops and liquidity incentives. TheBlock.
📉 Grayscale Bitcoin Trust Bleeds Out Post-ETF Conversion
Grayscale’s $GBTC isn’t having a great time, with over 60% of its holdings out the door since converting to an ETF. BlackRock’s $IBIT has swooped in to steal the crown, now sitting pretty as the top dog in the market. The outflows might be slowing, but the damage is done—Grayscale’s got some serious ground to cover. CryptoBriefing.
News In Three Sentences
Altcoin News 🗞️
🤖 Web3 Airdrops Hijacked: Bots Snatch $2.8 Billion in Rewards
Web3 airdrops are getting hijacked left and right, with bots and airdrop farmers grabbing 70% of the loot in 2024. Companies like HeyMint are scrambling to fix the mess with real user engagement tracking, but it’s an uphill battle. Worldcoin’s ($WLD) got a plan, but honestly, the whole system needs a serious overhaul to keep the bots at bay. DailCoin.
🌍 Binance CEO Fires Back at FUD Over Palestinian Account Censorship
Binance ($BNB) CEO Richard Teng is shutting down claims that the exchange censored Palestinian accounts at Israel’s request. Teng clarified that only fraud-linked accounts were frozen, not innocent users, and denied leaking any data to Israeli forces. Binance is sticking to its guns, balancing international compliance with user privacy—no easy feat. TheCoinRepublic.
⏳ Terraform Labs Gives Terra Classic Users a Final Chance Before the Doors Close
Terraform Labs just reopened its Shuttle Bridge for Terra Classic users to grab their wrapped assets like $LUNC and $USTC before the bankruptcy hammer drops. You’ve got 30 days after the Chapter 11 plan kicks in to salvage what’s left before it all goes up in smoke. This is your last call, folks—don’t miss the boat. Terra on X.
🔒 Monero Stands Strong Despite Exchange Delistings and Selling Pressure
Monero’s ($XMR) taking some heat, with its privacy-focused XMR token down 11% after getting the boot from major exchanges. But even with the pressure, Monero’s doubling down on privacy with new features like Full-Chain Membership Proofs (FCMP++) to keep transactions anonymous. The community’s not backing down—they’re all in on keeping Monero’s privacy game top-notch. NewsBTC.
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News In Three Sentences
Metaverse, NFT, Play-2-Earn News 🗞️
🎮 PGA TOUR Tees Up Web3 Golf Game with Blockchain Perks
The PGA TOUR is taking a swing at Web3 with “PGA TOUR RISE,” a blockchain-infused golf game that mixes sports betting with digital rewards. Players can compete in real-time for some serious bragging rights and crypto prizes. Traditional golf meets blockchain—sounds like a hole-in-one, right? ALTCOINBUZZ.
🚢 Uprising Labs Unveils Web3 Maelstrom with Blockchain Goodies
Uprising Labs just launched the Web3 version of Maelstrom, its epic nautical battle royale game, now powered by the Oasys blockchain. The new version packs blockchain-based rewards and in-game assets, taking the gaming experience to a whole new level. With over $1 million in prizes up for grabs in esports tournaments, Maelstrom is making serious waves. eGamers.
🔗 Sony’s Soneium™ Blockchain Aims to Disrupt Web3 Like a Boss
Sony ($SNE) Block Solutions Labs just dropped Soneium, a layer-2 Ethereum blockchain designed to shake up the Web3 space. Soneium promises to decentralize the internet’s power structures, making Web3 tech as common as cat memes. With optimistic rollups and a “Superchain” integration, Sony’s staking its claim as a Web3 heavyweight. Cointelegraph.
News In Three Sentences
Crypto News 🗞️
💥 South Korean Crypto Drama Turns Violent: Haru Invest CEO Gets Stabbed
A pissed-off investor attacked Haru Invest CEO Hugo Hyungsoo Lee during his trial for allegedly pocketing $826 million from 16,000 users. Lee got stabbed multiple times by one of the many victims still waiting for justice. This just goes to show—mess with people's money, and things can get seriously, um, messy. DailyCoin.
⚖️ Congressman Wiley Nickel Torches SEC Over Crypto Crackdown
Congressman Wiley Nickel tore into the SEC, accusing them of stifling innovation with their "regulation by enforcement" antics. With the SEC throwing shade at everything from Bitcoin to OpenSea, Nickel’s calling for a rulebook that doesn’t crush the crypto industry's spirit. Collaboration over confusion? Sounds like that’s the vibe he’s pushing for. CryptoSlate.
💼 Abra Bows to the SEC Over Unregistered Crypto Product
Abra just settled with the SEC after getting slapped for running an unregistered investment scheme with its Abra Earn product. At its peak, Abra was sitting on $600 million, but the SEC wasn’t impressed with the lack of paperwork. Now, they’re coughing up civil penalties on top of $250,000 they already paid state regulators—ouch. TheDailyHODL.
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Author Disclosure: The author of this newsletter holds positions in XMR, USDC, USDT. 📋
