GM and welcome to The Crypto Nutshell 🥜, the newsletter that captures the electrifying essence of the cryptocurrency world in a bite-sized package, delivering all the latest updates and trends straight to your inbox every single day.

Today we’ll cover:

• The US Secret Service has released it’s NFT collection 👀

• Why this Investor is convinced Ethereum is the best investment 🔥

• An interesting trend has emerged with the supply of BTC on exchanges 💰

• And more…

Market Watch

Let's kick off this edition of The Crypto Nutshell with a glimpse into the market's pulse. We'll provide updates on the top cryptocurrencies, market trends, and significant price movements.

From Bitcoin's dominance to altcoin rallies, we'll decode the market's mysteries and help you make sense of it all.

In anticipation of the next halving, Riot Platforms has bolstered their current fleet of crypto miners, splashing a cool $162.9 million on a whopping 33,280 cutting-edge Bitcoin miners.

Set to boost their hashing power by 7.6 exahashes per second, Riot's making a bold bet on the future, positioning themselves to ride the Bitcoin wave all the way to the next halving event in 2024. Buckle up, the crypto race just got more interesting!

Glassnode data reveals a bullish surge for Ethereum as exchange balances plunge to an all-time low, and staking deposits skyrocket. This reduction in readily available tokens, coupled with increased staking, suggests a potential boost in Ether's value.

If buyers can catapult Ether above the $2,000 resistance, we might be seeing a triumphant return to the $3,000 realm.

Expert Opinion of the day - Raoul Pal

Today, we turn our attention to the insights of Raoul Pal, CEO & Co-Founder of Real Vision Group & Global Macro Investor

Raoul Pal in his latest 'Ask Me Anything Livestream' is still as bullish on Ethereum as ever. In fact, he believes over the next cycle, if the wedge pattern he is following plays out, it will 3-5x out-perform Bitcoin.

On Chain Data ⛓️

Turning to on-chain data, last week we saw crypto investment products experience a massive surge in investor interest, with the largest weekly inflows of the year totalling a staggering $199 million. This significant influx is a clear indication of the growing confidence and enthusiasm in the cryptocurrency market. Source.

Interestingly Bitcoin supply on exchanges has been steadily decreasing. Perhaps this is the result of the FTX collapse and people are waking up to the age old saying “Not your keys, not your coins”.

Remember to take control of your Bitcoin with self-custody—no third-party custodians, just you and your private keys, calling the shots. Source.

Cracking Crypto 🥜

The amount of Ethereum staked by investors has now outpaced the ETH held by centralized exchanges, with 19.4% of the current supply now locked in staking.

The U.S. Secret Service's San Francisco Field Office has unveiled its unique collection of non-fungible tokens (NFTs), created not for sale, but to delve deeper into the crypto ecosystem and showcase their commitment to the space.

Bitcoin and other top cryptocurrencies are on the rise, with Fidelity reportedly preparing for a spot Bitcoin ETF application in the U.S, following the footsteps of BlackRock and other asset managers.

Bitcoin Cash, a spin-off from Bitcoin, saw a remarkable increase of over 108% in the past week as investors speculate it might receive commodity categorization from U.S. regulators. However, experts caution that this surge might not persist in the long term, considering Bitcoin Cash and other Bitcoin forks like Bitcoin SV are typically low-volume trades and lack fundamental upgrades for sustainable growth.

Meme Corner 🤣

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