Meta's Threads may have launched, but Crypto Twitter is still the place to be — check out the rundown of the hottest topics on CT.
Gm,
It’s getting personal on Crypto Twitter. The games are over. If you missed last week’s gladiator games, now is the time to buckle up and catch up.
Whose Threads Are A Must-Read?
This week’s thread section is short but sweet.
Alex Kruger blessed us with the best macro thread in a long time. No, seriously. He covered it all and explained why now is the time to slowly start getting bullish despite the recession sword of Damocles:
You really should read the entire thread, but here’s a TLDR for the extra-lazy:
- Leading economic indicators are pointing to a recession, but markets and economic actors have front-run it, reducing the probability of it happening.
- Valuations are in the eye of the beholder and the AI revolution is real, which could increase global GDP.
- Liquidity is not the main driver of asset prices but rather, flows: positioning, rates, growth, valuations and expectations.
What’s good to long then? A good narrative that we’ve heard time and again are L2s. Time for an update in the L2 race for dominance, courtesy of BobtheBuildoor:
He covers Arbitrum, Optimism and zkSync and here are the takeaways:
- Arbitrum is currently leading in terms of TVL.
- zkSync has seen an increase in activity due to an airdrop.
- Optimism has seen an increase in activity due to partnerships with Velodrome and Bedrock.
Read also: What Is Narrative Trading in Crypto?
Another promising narrative are real-world assets (RWA). Blockchain has been promising us tokenized trading of everything for a looong time. Slowly but surely, products are emerging and Viktor DeFi covers an overview of the RWA narrative:
Wisdom Of The Week
If you feel like you’re too short at the top or too long at the bottom, you’re not alone:
Elon Building Twitter
Elon took a well-deserved break from trying to, ahem, improve Twitter. Although he now has one more reason to do so, with Mark Zuckerberg releasing his Twitter clone called Threads.
This did not sit well with Elon, or not-Elon for that matter:
The Elon vs Zuck rivalry is starting to heat up, so maybe we will get the promised cage fight after all?
Stay tuned…
Talk of the Town
Phew, it’s been a while since we came so quickly to the crypto section huh?
The drama part on Crypto Twitter took a back seat last week. Maybe it’s because Threads was launched and everyone was scrambling to post their username in case someone fat-fingers the Twitter server.
Also, Twitter led to a temporary meltdown of threador-in-chief Adam Cochran:
But the limit went as quickly as it came, so Adam is happy, moisturized and in his lane again.
Not at all in their lane, however, are NFTs. They have not only been side-tracked but flat out run over in the last few months. One particular case of down bad are the Bored Apes:
The NFT market also saw a liquidation cascade last week. The part where everyone gets bullish clearly hasn’t reached that particular corner of CT yet:
It’s become personal not only between not-Elon and Zuckerberg but also between the Winklevii twins and Barry Silbert. A few months ago, we covered the Grayscale discount in an explainer (down to 26% now!). Barry Silbert, the CEO of the company owning the Grayscale Trust, still owes money to the Winklevii twins, owners of Gemini. They now let him know that the games are over:
This could possibly be settled in the most entertaining, yet most just manner:
But it’s likely to be another lawsuit in crypto’s expanding list of late-bear market lawsuits.
Speaking of lawsuits. The SEC is getting its big kahuna out against DeFi as well:
How decentralized Barnbridge was is up for discussion but clearly, the SEC seems to have an appetite for a few more cases. Which does not bode well for crypto innovation coming from the US:
In better news, Bitcoin’s new CEO Larry Fink, who also has a side hustle as BlackRock CEO, is trying to get everyone to buy into his new project:
One powerful influencer endorsement! And it’s already working because the bullposting has been long and strong on the timeline last week:
If you want a serious TLDR of the entire interview, Ram got you covered:
But BlackRock has firmly shifted gears. So it’s time for everyone to get bullish and start buying Bitcoin, right?
Right. Even the AIs are now on board with Bitcoin:
But not everyone is bullish. There is still one little country trying to stand firm…
Maybe it’s personal between Lukashenko and Bitcoin? If so, they could settle it in the cage.
Our Favorite Coinfession
Now is the time to be bullish cause they’re all laughing at you:
Memes
It’s been a bit less crazy this week, thankfully! But you should keep this cheat sheet handy just in case…
See you all next week!
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