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The 57th Hoot
50%+ of Crypto is Dead š
Scatt's Weekly Seeds:
š±Bitcoin ETF Update š¤
š±CoinGeckoās 2023 Highlights š
š±50%+ of Crypto is Dead š
š±Stablecoins are Back š
Meme of The Week
Year-to-Date Performance:
S&P 500: 1.47%
Dow: 0.46%
Nasdaq Comp: 2.00%
Bitcoin: 0.60%
Ethereum: 8.59%
Scatt Capitalās Fortune Strategy: 2.59% (Since Inception (12/22): 47.38%
News Breakdown:
Crypto Market:
7-DAY CRYPTO MARKET CAP CHANGE: $3BN
CRYPTO INVESTMENT PRODUCT FLOW: $1.18BN
BINANCE ATTRACTS $4.6BN INFLOW SINCE IT PAID ITS FINES
BLACKROCK BITCOIN ETF FIRST TO CROSS $1BN
CRYPTO TRADING VOLUME HIT $17.5BN LAST WEEK
HEDGE FUND SKYBRIDGE SAYS BITCOIN $170K BY 2025
LARRY FINK SAYS HE SEES VALUE IN AN ETHEREUM ETF
ETHEREUM HITS 18 MONTH HIGH AT $2.7K
Credit & Debt Markets:
JPM, WELLS, AND MS RAISED $23BN TOTAL THROUGH BOND SALES
10 YEAR TREASURY TOPS 4.15%
DUTCH GOVT. LEND GRID OPERATOR TENNET HOLDING $27.4BN
EMERGING AFRICA INFRASTRUCTURE FUND RAISES $294M DEBT
SWEDISH BATTERY MAKER NORTHVOLT RAISED $5BN DEBT VIA 23 BANKS INCL. EUROPEAN & NORDIC INVESTMENT BANK
RATE CUTS EXPECTED TO START IN MARCH, AND STAND AT ~4% BY YEAR END
This Weekās Economic Calendar:
New Home Sales (Thursday)
Personal Income & Spending (Friday)
PCE Index (Friday)
Pending Home Sales (Friday)
Bitcoin ETF Update š¤
Newsflash: An update on spot Bitcoin ETFsā¦
In the short space of time that the ETFs have been available to tradeā¦
BlackRock was the first to hit $1 billion AUM, and Fidelity 2nd. That is huge!
But hereās 3 impressive points summing it all up:
Total trading volume across all 11 ETFs crossed $10bn in first 3 days
Grayscale, Fidelity, and BlackRock make up 90% of trading volume
Thereās been more than $1bn in trading volume every single day
Long story short: these are impressive numbers, butā¦
Itās crucial to remember that this is a long gameā¦ weāre not investing today to sell for an extra dollar tomorrow.
Crypto is more than investment.
Itās a hedge against the power-hungry individuals running the world.
CoinGeckoās 2023 Highlights š
LAST 2023 recapā¦ I promise.
CoinGecko is the worlds largest crypto data aggregator AKA crypto tracker.
They follow 12,000+ coins on 900+ exchanges. And they just gave their 6 main highlights of 2023 šš¼
Total crypto market cap grew 108.1%
Bitcoin grew 155.2%
Ethereum rose 90.5%
Solana recorded a meteoric rise of 917.3%
NFT trading volume was a mere 44% of 2022ās figure
Crypto trading volume hit $10.3T in Q4 (53.1% rise)
All super, super impressive numbers.
Our favorite is Solana growing almost 1,000% š¤©
50%+ of Crypto is Dead š
If I had a penny every time I heard āCrypto is deadāā¦
Iād be pretty wealthy.
Over the last 10 years, over 24,000 cryptocurrencies have been listed on CoinGecko.
Of thatā¦ 14,039 are officially dead.
AKAā¦ they are no longer living/being traded (in any way).
Majority of these failures are driven by projects made in 2021: 5,724 to be exact š„
After you look past all the negativityā¦ this all just proves one thing:
You gotta watch where your money goes in this space.
This is one of those places where you can double your money or lose it all in the space of 30 seconds.
DO YOUR RESEARCHā¦ PLEASE!
Stablecoins are Back š
Stablecoins are slowly recovering.
Over the last 3 months, the stablecoin market cap has risenā¦
$11 billion since around October & $4 billion in January alone.
This is really important and good to monitor.
Think of stablecoins as: Casino chips of crypto.
The more stablecoins there are, the more people have to spend in the casino.
This is exciting so farā¦ but weāll keep an eye on it.
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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.