Green Tea & Digital Assets Weekly Round Up (June 5, 2022)

Green Tea & Digital Assets Weekly Round Up (June 5, 2022)

A weekly newsletter on actionable digital asset market insights and practical observations with a smidgen of greentea 🍡 insights

πŸŽ₯πŸ”₯ My Youtube Content πŸŽ₯πŸ”₯

Subscribe πŸ™πŸΌ

πŸ“– Book of the Month πŸ“–

This month lets mix it up a bit with Quiet by Susan Cain. In a world of social media and instant gratification this is a great book about the power of introversion and what we can learn from the habits and behavior of introverted people and leaders. If you are reading along or listening drop me a note on Twitter or email!

Listen to: Quiet For Free with Audible. Link

πŸ’­βœπŸΌ Food For Thought πŸ’­ ✍🏼

Link

The Fed on CBDCs. Basically, it may take five years to build your panopticon - Link

You definitely need to read this entire speech word for word. I read this as the moment the President gives the Fed clearance to take the economy into recession to fight inflation - Link

Coinbase now has a hiring freeze, see below Gemini headcount reduction = official Crypto winter (which we have seen before, all things move in cycles) The real building can happen now that the hype is coming out - Link

πŸ’Έ Companies and Deals I am Watching Closely πŸ’Έ

1. Binance Labs has raised $500 million for a fund that will focus on web3 and blockchain. - Link

2. Β Merge, a crypto payments and API business, raised $9.5 million from Coinbase, Alameda and others - Link

3. Akatsuki, a Japanese gaming and entertainment firm, raised $20 million for a web3 fund that will be called Emoote. - Link

πŸ“– Quote of the Week πŸ“–:

"A dream doesn't become reality through magic; it takes sweat, determination and hard work." - Colin Powell

πŸ“° This Weeks Most Interesting Digital Asset News πŸ“°:

1. Β  Β  Former Employee Of NFT Marketplace Charged In First Ever Digital Asset Insider Trading Scheme - Link

2. Β  Β Gemini to layoff 10% of its staff - Link

3. Β  Β  Fidelity Digital Assets is Expanding Headcount - Link

4. Β  Β  Optimism’s governance token officially goes live - Link

5. Β  Β  Japan Passes Stablecoin Bill That Enshrines Investor Protection - Link

πŸ“ˆ Top 10 Market Movements by Market Cap over the last 7 days πŸ“‰:

Bitcoin: Price OHLC

You can see above that Bitcoin has not broken above the $48k amount in 2022. I continue to remain bearish short term but I am keeping an eye Bitcoin and I think I will be moving my time horizon out to the end of 2022. What I am really looking for is some evidence of a monetary policy shift from the Fed but we are not there yet.

Bitcoin: HODL Wave

The chart shows the bundle of all active supply age bands for Bitcoin, aka HODL waves. Each colored band shows the percentage of Bitcoin in existence that was last moved within the time period denoted in the legend. Β We still have more to go. I personally still think BTC will go back toward $15,000.

Bitcoin: Net Realized Profit/Loss Ratio

Net Realized Profit/Loss Ratio is the ratio between realized profit and realized loss. As you can see above the majority that have sold as at a loss on a "net" basis on the lows this prior week.

Ethereum: Price OHLC

OHLC is the Open, High, Low and Close price. ETH is still chopping around just like Bitcoin above and you can see here it is off the highs of the prior weeks and also down the the year of 2022.

USD Coin: Circulating Supply

USDC continues its trend with a small growth in circulating supply this week. It seems the market is speaking at least from a US KYC perspective that people (in spite of what they say about decentralization) want a single counterparty that can be trusted to hold the peg to cash. Lets see how this plays out over time.

Total Value Locked (USD) in DeFI

TVL continued down an additional 2 Billion to 54 Billion this week.

As a reminder TVL means "Total Value Locked". This refers to people taking ETH based tokens or other tokens and "locking" them in DeFI protocols to lend, generate yields and otherwise earn excess returns.

Products I Personally Use and Support

Green Tea Tidbits:

The scientific name for green tea is Camellia Sinensis.

Disclaimer:

This Newsletter does not provide, and no portion of this content purports to be, individualized or specific investment advice and I do not provide investment advice. Β All information provided herein is general in nature and is made without regard to individual levels of sophistication or investment experience, investment preferences, objectives or risk parameters and without regard to the suitability of the content for individuals or entities who may access it.

No information provided herein, should be construed as an offer to sell, or a solicitation of an offer to buy any security or investment vehicle, nor should it be construed as tailored or specific to you, or any reader or consumer thereof. You understand and agree that the content does not constitute specific recommendations of any particular investment, security, portfolio, transaction or strategy, nor does it recommend any specific course of action is suitable for any specific person or entity or group of persons or entities.

The content herein is based upon information from sources believed to be reliable and I am Β not responsible for errors, inaccuracies or omissions of information; nor is it responsible for the accuracy or authenticity of the information upon which I rely. For informational purposes only. Do your own research.

Some products or services on this newsletter may have affiliate links. This means that I may earn a commission if you click through the link and make a purchase and/or subscribe. I will only provide links to products or services that I genuinely like, use and support.