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GM to all you crypto nuts. Crypto Nutshell #441 feelin’ the heat…  🥵🥜

We're the crypto newsletter that's more adventurous than Indiana Jones dodging traps in ancient temples... 🏺🌄

What we’ve cooked up for you today…

• 🏦 Presidential Bitcoin transaction

• 🍌 It’s really here…

• 🤔 How many wallets?

• 💰 And more…

MARKET WATCH ⚖️

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

PRESIDENTIAL BITCOIN TRANSACTION 🏦

BREAKING: Trump becomes first president to pay in Bitcoin: ‘Very easy’

Yesterday was a historic day. (sorta?)

Donald Trump became the first US president to publicly use Bitcoin.

Appearing at Bitcoin themed bar PubKey, Trump used Bitcoin to pay for some burgers. 🍔

Even calling them “crypto burgers” when handing them out.

Checkout the clip below:

Speaking at the event Trump had this to say:

And when one of the attendees at the event mentioned that they had gifts for him, Trump responded with:

This comes just days after Trump and his team announced the launch of his crypto project - World Liberty Financial.

This crypto project has many rolling their eyes…

And whilst Trump himself didn’t speak about the details, his team did eventually share information on the projects token. (checkout the details here)

But Trump did have this to say:

Continuing on Trump explains:

Trump even mentioned that his son Barron is involved with crypto:

The Republican candidate continues to talk about Bitcoin and crypto.

WHILST launching his own crypto project.

Two thing we definitely didn’t expect to see this election cycle…

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IT’S REALLY HERE… 🍌

The wait is finally over.

Interest rates have been cut.

Liquidity is about to pour back into the system.

The ‘Banana Zone’ has now begun. 🍌

The ‘Banana Zone’ is the point in the crypto cycle in which global liquidity picks up, sending crypto prices parabolic.

In his latest update to investors, macroeconomic expert Raoul Pal broke down why he believes it’s here.

Raoul then poured various charts all pointing to the same conclusion:

The ’Banana Zone’ is here.

The most interesting of which was Bitcoin’s price action in election years:

As you can see, in October, November & December, it’s up only.

All indicators are point towards a huge end of year…

The wait is finally over. 🍌

HOW MANY WALLETS? 🤔

Time for a check-in on Bitcoin’s adoption levels.

To do that we’ll we’ll be taking a look at the number of addresses with a non-zero balance.

It provides a high level overview of the Bitcoin network’s user base/activity.

Keep in mind though, one wallet does not equal one user. A user can have many wallets.

What matters here is the trend of the chart.

• Increasing number of addresses: increasing adoption levels 📈

• Decreasing number of addresses: indicates users are selling their entire balance or consolidating wallets 📉

As of today there are 52,468,671 addresses with a positive balance.

The past month has seen this metric increase by 160,556 wallets.

And so far this year has seen it increase by 747,533 wallets.

That’s a whole lot of new wallets holding at least some Bitcoin…

Basically this metric only ever trends up and to the right. (with some minor dips here and there)

Which only means one thing:

Bitcoin adoption levels have been increasing every single year.

Bullish. 🐂

CRACKING CRYPTO 🥜

New Solana phone branded ‘Seeker’ unveiled with special Genesis Token. Set for a 2025 release, Seeker by Solana Mobile promises enhanced web3 integration and a host of new features.

SEC asks court for four months to produce documents for Coinbase. As part of its enforcement action filed against Coinbase in June 2023, the SEC has requested additional time to satisfy a motion to compel discovery.

Bitcoin's Breakout to New Highs Could Be Near, Past Market Cycles Suggest. The top crypto's current correction from the March peak resembles the action of 2016 and 2020 during the previous bull runs, which resolved in new all-time highs in the latter months of the year.

CFTC pushes appeals court to block election betting amid Kalshi dispute. The CFTC ought to convince a panel of judges to consider its emergency motion for stay a district's previous ruling.

WHAT WE’RE READING 📚

Want to get even smarter? Check these out.

p.s. all completely FREE (one click subscribe link)

• Raremints (link) - Daily crypto news

• Bitcoin Breakdown (link) - Twice weekly Bitcoin news

• Crypto Pragmatist (link) - Actionable alpha 3x a week

• The Hustle (link) - Get Smarter on Business and Tech

• Your Next Breakthrough (link) - Personal growth with Mark Manson

• The Neuron (link) - AI trends and tools to keep you ahead

CAN YOU CRACK THIS NUT? ✍️

Select your answer below and you’ll be redirected to the results page. (answer explanation can be found after “Meme Corner”)

MEME CORNER 😂

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

Trivia Answer: C) Non-Fungible Token 🥳

NFT stands for 'non-fungible token'. Non-fungible means that something is unique and can't be replaced.

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HOW DID WE DO? 🤷

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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.