GM and welcome to The Crypto Nutshell! 🫶 🥜 

The crypto newsletter that might make you feel as hopeful as carving a tunnel through prison walls for years...🔨⛓️

Today, we’ll discuss:

• Recapping the last 24 hours in the world of crypto 🌏

• These 5 reasons are why Bitcoin is the answer 🤑

• Taking a closer look at Bitcoin’s dormant supply💰

• And more…

MARKET WATCH ⚖️

BTC Dominance is currently at 50.32% and the current crypto market cap is $1.16T ▼0.36%

Biggest Winners of The Day 🤑

• Shiba Inu (SHIB) ▲9.09%

• Dogecoin (DOGE) ▲2.38%

• Chainlink (LINK) ▲1.14%

Biggest Losers of The Day 😭

• XRP (XRP) ▼4.67%

• TRON (TRX) ▼1.14%

• Avalanche (AVAX) ▼1.12%

Only the top 20 coins measured by market cap feature in this section

JUST IN: Coinbase to file order seeking dismissal of SEC lawsuit.

During Coinbase’s Q2 2023 earnings call, chief legal officer Paul Grewel has stepped up and asserted that they would win their court battle against the SEC.

Oh and by the way here are some key figures from the earnings report:

• $663 million in net revenue

• $335.4 million from subscriptions and services

• $327 million in transaction volume

All price data as of 7:55am ET

EXPERT OF THE DAY 💰

This expert is more bullish than ever on Bitcoin for 5 main reasons.

Todays expert of the day is the undisputed King of Bitcoin himself, Michael Saylor - “I’ve never been more Bullish”

Saylor, just today in an interview with Natalie Brunell, laid out 5 specific reasons as to why he has never been more bullish on Bitcoin than ever before.

1. Larry Fink, the man at the helm of BlackRock, has come out on public television multiple times in the last month endorsing Bitcoin and calling it a safeguard against currency debasement.

2. Multiple U.S Presidential candidates have come out openly supporting Bitcoin. This includes Ron De Santis who is extremely pro-bitcoin as well as Robert F. Kennedy, the 3rd favourite candidate.

3. Regulators are endorsing Bitcoin, both the CFTC and SEC have made it clear that Bitcoin is a commodity and no negatives moves have been made against it.

4. The tone of mainstream media has radically shifted. If you look at how Bitcoin is now being treated across all major MSM’s - Fox, CNBC, Bloomberg, The Wall Street Journal and the Times, it has moved from suspicion & fear to respect and acceptance.

5. Finally - the largest asset managers in the world, BlackRock & Fidelity filing for a spot Bitcoin ETF, with it now pegged at 65% chance at approval.

Based off all of this, Saylor says we are at an inflexion point.

We are at the point in which you have the most information available to you to conclude that Bitcoin is a unique asset that is the best bet for safeguarding your wealth against currency debasement.

Yet there is a large pool of capital that would love to be in the space but they can’t easily do it…Until the spot Bitcoin ETF.

Saylor’s interview in a nutshell?

We are in for an extremely exciting 12 months ahead.😁

Nutty's takeaway: Here's the meaning of auspicious in case your vocab isn't as diverse and deep as Saylors 😉 

Auspicious: conducive to success, favorable.

ON CHAIN DATA DIVE 📊

Can you believe that 68.5% of the total Bitcoin supply hasn’t moved in over a year? That’s pretty insane. To put that into more context, the current circulating supply as of August 4th is 19,448,100. That means ~13,321,948.5 Bitcoin haven’t moved in over a year. Wow. 😲

Taking a look at the chart below you’ll notice an obvious pattern. The blue area represents the inactive supply and the orange area represents the price of Bitcoin. The inactive supply always dips when Bitcoin reaches a new high.

Pretty obvious right? The pressure to sell increases as the price of Bitcoin also increases. The inactive supply is continuing to grow… Investors must be pretty convinced that the future of Bitcoin is bright. 😎

Digging even deeper:

• Coins inactive for 2+ years: 55.7%

• Coins inactive for 3+ years: 40.1%

• Coins inactive for 5+ years: 29.1%

All across the board, members of the Bitcoin community are holding. Despite the notorious volatility of the crypto market clearly the majority of investors are in it for the long run.

Nutty’s Takeaway: The HODLing strategy that most Bitcoin investors adopt actually has a significant impact on the price. We’ve said it before and will say it again, it all comes down to simple supply and demand. With a majority of the coins being inactive, the supply is reduced. This increased scarcity mixed with growing demand (the institutions are coming) can provide the rocket fuel necessary for upward price pressure. 🚀

CRACKING CRYPTO 🥜

TRIVIA TIME ✍️

Which of the following Cryptocurrency Exchange’s has the highest daily volume?

• A) Binance

• B) Kraken

• C) OKX

• D) Coinbase

Find out the answer at the bottom of this newsletter 😀

MEME CORNER 😂

Because what would the crypto world be without its share of memes?

Trivia Answer: A) Binance 🎉

Binance currently ranks number one in terms of daily volume with ~5.69 billion.

NUTCASE REVIEW OF THE DAY 🔍

DISCLAIMER: The content of this newsletter is not financial advice. This newsletter is strictly educational and is not investment advice. Please be careful and do your own research.