Today’s edition is brought to you by Crypto.com

Start earning up to 5% back on all your spending! No annual fees. Sign up for the Crypto.com Visa Card today to receive your instant $25 bonus!

GM to all 64,612 of you. Crypto Nutshell #348 rollin’ in... 🛼 🥜

We’re the crypto newsletter more thrilling than escaping a deadly game of survival... 🏹🔥

What we’ve cooked up for you today…

• 🏦 VanEck raises prediction

• 🕰️ Times are changing

• 🤔 Where are we in the cycle?

• 💰 And more…

MARKET WATCH ⚖️

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

VANECK RAISES PREDICTION 🏦

BREAKING: VanEck predicts Ethereum will hit $22,000 per token by 2030

VanEck believes Ethereum will hit $22,000 by 2030. 🤯

That’s a 487% return from todays price and a compound annual growth rate (CAGR) of 37.8%

This price target is based on Ethereum’s significant user base and economic activity:

• 20 million monthly active users

• Facilitates $4 trillion in annual settlement value

• Overseas $308 billion in digital assets

According to VanEck, the launch of the Ethereum ETFs is arguably the most important step:

Continuing on, the report explains:

But $22,000 is only VanEck’s “base case”.

They also included price targets for their bull and bear cases by 2030:

• Bull case: $154,000

• Base case: $22,000

• Bear case: $360

($360 - $154,000 that’s quite the range they’ve got there…)

VanEck also notes that Ethereum’s user base has been increasing at a rapid rate.

Did you also know that Ethereum has has higher revenue per user than most Web2 businesses?

$22,000 does feel a little conservative…

But if $22,000 by 2030 is the case, you can’t really complain about a compound annual growth rate of 37.8%

As a reminder, the Ethereum ETFs have only been approved. They haven’t launched yet. 🚀

If you’re interested, checkout the full report here.

TOGETHER WITH CRYPTO.COM 💳

Stop right there.

You still don’t have a crypto card?

If you haven’t got a crypto card yet, you’re living in the past.

With a Crypto.com Visa Card you can spend your crypto anywhere you want.

The benefits are insane.

Not only is there NO monthly or annual fee, you also get up to 5% back on every transaction.

With your Crypto.com Visa Card you can:

• Earn up to 5% back in CRO rewards on every transaction. 💳

• Enjoy 100% cashback on Spotify, Netflix, and Amazon as a new customer. 🍿

• Get complimentary access to airport lounges and elevate your travel experience. ✈️

• Flaunt your style with the sleek and stylish metal card 🌟

Here’s how to get your $25 bonus and start earning up to 5% back:

1. Click here to Download the Crypto.com App

2. Sign Up: Use our referral code - Nutty - for your instant $25 bonus.

3. Get Your Crypto.com Visa Card: Start making transactions, earning rewards, and enjoying the perks!

Start making every transaction count - the future is here.

P.S - We heard your feedback. The crypto.com Visa card is available in the U.S, Canada, U.K, Australia and many more!

Disclaimer: Terms and conditions apply. Offer valid for new users. Crypto investments involve risks; please do your research.

TIMES ARE CHANGING 🕰️

This catalyst will take the crypto market to new all-time highs.

And no ones paying attention…

That’s the latest message out from Matt Hougan.

Matt Hougan is the Chief Investment Officer at Bitwise, one of the Bitcoin ETF issuers.

According to Hougan, there’s been a significant change in Washington’s attitude towards crypto over the past month.

And who can forget Elizabeth Warren’s plans to “build an anti-crypto army” last March.

But times are changing…

The past month has seen 3 key moments signalling a political shift:

• May 8: 21 Democrats voted alongside a number of republicans to repeal SAB 121 - an SEC rule that prevented large banks from custodying crypto

• May 20: 71 Democrats joined 208 republicans to vote for FIT21 - legislation that grants crypto regulatory oversight to the CFTC

• May 23: The SEC led by Democrat-appointed chair Gary Gensler approved spot Ethereum ETFs (which no one expected)

Now although all of this political talk can get a little boring… 🥱

It’s extremely important for the future of crypto.

But Matt explains that no one seems to really care. (yet…)

Once people begin to understand just how significant this political shift is, that’s when we hit new all-time highs. 📈

Soon. ⌛

WHERE ARE WE IN THE CYCLE? 🤔

Today we’ll be taking a look at the MVRV Z-Score.

This metric simply compares the market value to the realized value.

• Market Value (Market cap): current price of Bitcoin multiplied by the circulating supply

• Realized Value: the value of all coins at the price they were last moved

A market top (red zone) is categorised by market value being significantly higher than the realized value.

A market bottom (green zone) is categorised by market value being significantly lower than the realized value. (also the best time to scoop up cheap Bitcoin)

The easiest way to use this metric is to think about it as a gauge of where we currently are in the cycle.

Since the cycle bottom in November 2022, MVRV has been rallying. With some dips along the way of course.

Currently it’s at 2.55 (Two weeks ago it was at 2.48)

That puts MVRV in-between the green and red zones.

Meaning we’re roughly in the middle of the cycle.

We’ve still got a long way to go before Bitcoin’s deemed “overvalued” by this metric.

Quick reminder that we’re also only just entering the “banana zone”…

Expect this metric to drastically rise over the next few months. 🍌

CRACKING CRYPTO 🥜

Gensler slams crypto exchanges for unsavory practices, says spot Ethereum ETFs will 'take some time'. SEC Chair Gary Gensler said spot Ethereum ETFs will "take some time" to launch despite approving the associated 19-4b filings last month.

Bitcoin ETFs notch nearly $500M inflows despite nobody searching for it. U.S. spot Bitcoin ETFs saw joint inflows reach $488 million with Google Trends data showing related search interest is still down from a 2021 peak.

Advocacy Group 'Stand With Crypto' Says It's Exceeded 1 Million Signups. The organization, backed by crypto exchange Coinbase, signed a million online members, raised millions in donations and started a U.S. campaign fund in less than a year.

Coinbase Debuts Smart Wallet, Gunning to Bring 1 Billion Users to Crypto. Coinbase rolls out its Smart Wallet, an offering it says will make the DeFi space more accessible for new crypto users.

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

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

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

• Wild Golf (link) - Twice weekly Golf insights & tips

• 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: A) Keys 🥳 

Bitcoin wallets store keys

GET IN FRONT OF 64,000+ CRYPTO INVESTORS

Advertise with Crypto Nutshell to get your product or brand in front of the crème de la crème of crypto investors. Crypto Nutshell readers are high-income earners who are always looking for unique or interesting offers.

Get in touch today. 😎

HOW DID WE DO? 🤷

We read every comment submitted in this poll and love to hear what you guys have to say. 😁 (bonus points for suggestions 🍪)

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.