GM and welcome to The Crypto Nutshell! 😉 🥜 

The crypto newsletter that’s as satisfying as falling asleep to the sound of rain 🌧️

Today, we’ll discuss:

• A recap of the past 24 hours in crypto 💵

• Cathie Wood’s BIG Ethereum bet 🎰

• How has the Ethereum Merge impacted supply? 🤷‍♂️

• And more…

MARKET WATCH ⚖️

BTC Dominance is currently at 51.43% and the current crypto market cap is $1.19T

Biggest Winners of The Day 🤑

• Polygon (MATIC) ▲4.96%

• Litecoin (LTC) ▲4.16%

• Solana (SOL) ▲1.46%

Biggest Losers of The Day 😭

• Cardano (ADA) ▼1.07%

• BNB (BNB) ▼0.69%

• Toncoin (TON) ▼0.61%

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

All data as of 8:15am ET

EXPERT OF THE DAY - CATHIE WOOD 🌲

So a few editions ago we covered Cathie Wood and her firm ARK Invest’s predictions for Bitcoin. 



In case you missed them, revealed in their 2023 Big Ideas research report they have:

• Best Case: Bitcoin goes to ~$650,000 per coin by 2030

• Bull Case: Bitcoin goes to $1.48 Million per coin by 2030

However, we also know that Cathie and her firm are also big believers in the second largest digital asset too - Ethereum.

However they didn’t release a price prediction for ETH. 

😔

Lucky for you, Nutty has done some investigative journalism and found exactly what their price forecasts are for Ethereum. 



Although nothing was forecasted in their 2023 report, if we go back to their 2022 Big Ideas report, revealed inside is the forecast that ARK Invest expects Ethereum to get to a $20 Trillion Market Capitalisation in the next 10 years. 



Now if you divide this by the total outstanding Ethereum at just over 120 Million, this would imply a price per Ethereum of…. wait for it….



🤯 $165,000 per Ether 🤯 

Now this is assuming the supply of Ethereum stays the same.

However with the merge supply cut & the burn mechanism from EIP-1559, the supply of Ethereum will be lower than what it is now, meaning an even higher price. (check out the on-chain data below)



The main argument behind this absolutely insane price is that according to ARK’s research, Ethereum could displace many traditional financial services and its native token, ether, could compete as global money.

ON CHAIN DATA DIVE 📊

It’s been awhile since we last checked in on Ethereum, so today lets take a look at the current Ethereum supply and burn rates.

What you need to know about Ethereum:

• Issuance: The creation of new ETH that did not previously exist, earned through staking rewards

• Burn: To do anything on the Ethereum network you pay a small fee (known as "gas") for a transaction to be successful. This fee gets destroyed during the transaction process, removing it from circulation.

• The Merge: A network update that transitioned Ethereum from proof of work (PoW) to a proof-of-stake (PoS) on September 15, 2022

The merge had a MASSIVE impact on the Ethereum Network: 💻

• 834,348.47 ETH has been burned 🔥

• 543,209.70 new ETH has been issued 🎁

• The total supply of ETH has dropped by 291,138.77 ETH since the merge 📉

Nutty’s Takeaway: This is incredibly positive news for Ethereum. With the supply continuing to shrink and the demand continuing to increase, this can only mean one thing…. The Price of Ethereum HAS to rise. 🤑

It’s simple economics really.

Less Supply + increased Demand  = higher prices. 📈

CRACKING CRYPTO 🥜

TRIVIA TIME ✍️

Smart contracts are executed by the…?

• A) EDP

• B) ECT

• C) ETF

• D) EVM

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: D) EVM 🎉

The Ethereum Virtual Machine (EVM) executes smart contracts on the Ethereum blockchain.

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.