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GM to all 42,794 of you. Crypto Nutshell #229 stampedin’ past. 🦬 🥜 

The crypto newsletter that's more comforting than finding a friendly extraterrestrial stranded on Earth... 👽🚲

What we’ve cooked up for you today…

• 😴 Solana experiences network outage

• 🌕 Why Bitcoin will 100x from here

• 🤑 Bitcoin’s profitability

• 💰 And more…

MARKET WATCH ⚖️

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

SOLANA NETWORK GOES OFFLINE 😴

BREAKING: Solana back online following major 5 hour outage

Solana, the fifth largest cryptocurrency, experienced a network outage early Tuesday morning.

Twitter users soon noticed that the Solana blockchain stopped producing new blocks…

Which is a HUGE problem for a blockchain…

It took validators ~5 hours to update Solana’s source code before the network came online once again.

And this isn’t the first time Solana has gone offline either…

According to a report from The Chainsaw, Solana has experienced a total of 10 network outages since 2021.

Although Solana’s price did dip ~5% during the outage, it has since recovered.

Maybe it’s time to update the Solana logo? 😂 🤔 

Click here for more details.

TOGETHER WITH ANIMUS 👾

Over the past year, the crypto market has been on fire. 🔥

12-months ago, Bitcoin was trading at $20,000 and Ethereum was trading at $1,500. 

But where will prices go now?

Will there be a sell-off before the Bitcoin halving?

Or will there be a move up in anticipation?

Truth is - timing the market is extremely difficult. 

But what if we could use the power of A.I to help us.

That’s where Animus Technologies comes in.

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They’ve developed data-driven trading strategies to out-perform the market without the need to add any excess risk. 

Developed over 6+ years, their track record is incredible:

• Uses cutting-edge artificial intelligence and sentiment analysis to out-return Bitcoin on an outright & risk adjusted basis ✅

• Animus Technologies has crushed it, returning +345.57% vs Bitcoin +119.05% 📈

• Won Bitcoin Magazines ‘Bitcoin Alpha Competition’, receiving $1 million in seed capital 🌱

Animus is looking at taking on a limited number of new clients.

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WHY BITCOIN WILL 100X FROM HERE 🌕 

Yesterday, MicroStrategy had their Q4 2023 earnings call.

Let’s break down some of the highlights.

First things first, MicroStrategy purchased even more Bitcoin. (no surprise here)

During January, MicroStrategy acquired an additional 850 Bitcoin for $37.2 million.

This brings their total holdings to 190,000 Bitcoin - worth over $8.1 billion.

By the way, that’s 0.9% of Bitcoin’s maximum supply…

Next, Michael Saylor shared some interesting charts.

MicroStrategy began buying Bitcoin back in 2020.

Since then the company’s share price has increased by 305%.

Comparatively, major tech stocks such as Microsoft have only increased by 97% within the same timeframe.

But here’s the real crazy part.

Since 2020, MicroStrategy stock has also outperformed Bitcoin…

Clearly their Bitcoin strategy is working.

Saylor then made an interesting comparison between MicroStrategy and the Bitcoin ETFs.

The table below raises a strong argument for investing in MicroStrategy over a Bitcoin ETF.

The biggest differences being MicroStrategy has no management fee and is leveraged.

Saylor also praised the launch of the Bitcoin ETFs, saying:

Saylor argues that the ETFs strengthen Bitcoin’s claim as a store of value:

Oh and in case anyone had any doubt.,,

Saylor closed out the call by stating that MicroStrategy will continue to purchase Bitcoin going forward.

BITCOIN’S PROFITABILITY 🤑

Today we’ll be taking a look at the profitability of the Bitcoin Network.

To do this, we’ll be using the Adjusted Spent Output Profit Ratio (aSOPR) metric.

Although this metric may sound a little confusing, really it’s quite simple. It tracks the sale of every coin and determines whether it was in profit or not.

This is done by comparing the fiat value of a coin when it is first purchased to the fiat value when it is sold.

• aSOPR >1: on average, coins are being sold at a profit 🐂

• aSOPR < 1: on average, coins are being sold at a loss 🐻

• aSOPR = 1: on average, coins are being sold at breakeven 😐

But the neat thing about aSOPR is that coin volume is not considered in the calculation.

This means that whales can’t heavily skew this data by locking in huge profits or losses. Think coins being sold from 2013, etc.

All we’re looking at here is if the transactions was in profit or loss.

Today, aSOPR is at 1.022. (it’s been positive since October 2023)

Indicating that on average, Bitcoiners have been realising profits.

aSOPR tends to trend higher and higher as we progress through the bull market.

However, eventually selling from long-term holders overwhelms new demand. And that’s how we get a market peak (spikes in aSOPR).

Glassnode points out that this is just one of the many metrics that indicates healthy market conditions.

As it stands, profits are being realised but demand is sufficient in absorbing these sales.

Bull run - here we come. 🐂 

CRACKING CRYPTO 🥜

Binance's delisting move sends Monero and Multichain values tumbling 20%. Binance said it was delisting Monero and Multichain because they no longer meet its listing criteria, according to a Feb. 6 statement.

Court orders Ripple to disclose financial statements to SEC. Ripple has until Feb. 13 to produce financial statements from 2022 to 2023 and contracts governing “institutional sales” to the U.S. Securities and Exchange Commission.

Solana’s DeFi users mostly unbothered by network outage. Solana DeFi users appear unphased by an apparent bug that caused Solana to experience five hours of downtime Tuesday morning.

WHAT WE’RE READING 📚

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p.s. all completely FREE

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: B) Blocks 🥳

A blockchain is a distributed database that maintains a continuously growing list of ordered records, called blocks.

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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