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- 🥜 Super cycle coming
🥜 Super cycle coming
PLUS: Ethereum Supply Update
GM to all 45,503 of you. Crypto Nutshell #240 hangin’ out. 🐨 🥜
We’re the Crypto Newsletter that's more magical than discovering a portal to a realm of mythical creatures... 🧚♂️ 🌟
What we’ve cooked up for you today…
😂 Elizabeth Warren’s huge scam
🤔 Super cycle coming?
⚖️ Ethereum exchange balance
💰 And more…
MARKET WATCH ⚖️
Only the top 20 coins measured by market cap feature in this section
ELIZABETH WARREN’S HUGE SCAM 😂
BREAKING: Treasury deals blow to Elizabeth Warren’s anti-crypto crusade
Senator Elizabeth Warren’s anti-crypto crusade just suffered a serious blow.
In October, it was reported that Middle Eastern terrorist groups received over $100 million in crypto payments.
Two weeks later, that number was revised down to just $12 million. Crypto research firm Elliptic claimed that the data had been misinterpreted.
BUT, Elizabeth Warren continued to use the $100 million number as the source of her campaign against crypto…
In a hearing this week, Warren’s claims were debunked:
"We assessed that terrorists still prefer, frankly, to use traditional products and services."
Republican Tom Emmer also commented on this situation:
"For months, lawmakers, business leaders and the American public were persuaded to believe that crypto was a significant fundraising tool for Hamas because the press misinterpreted on-chain data and vastly inflated the figures."
This isn’t even the first time Warren has used misleading and false statistics.
Senator Cynthia Lummis recently tweeted the following:
$900,000 laundered in crypto vs $900,000,000 laundered in cash.
That’s a cash to crypto ratio of 1,000:1
Make no mistake, cash is still the currency of choice for criminals…
“First they ignore you, then they laugh at you, then they fight you. Then you win.”
Why is this false narrative spinning up?
TOGETHER WITH STOCK MARKET RUNDOWN 📈
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SUPER CYCLE COMING? 🤔
Will there be a super cycle?
What price will Bitcoin reach?
Raoul Pal answered those exact questions in a recent interview with Anthony Scaramucci.
For those who don’t know Raoul, he’s the CEO & founder of Real Vision.
Raoul is a veteran in both crypto & financial markets:
First bought Bitcoin 10+ years ago in 2013
Wrote the first ever macro valuation paper on Bitcoin (Valuing it at $1 million per coin in 2013)
Has been writing the research publication ‘Global Macro Investor’ for 20 years. (Global Macro Investor has the best proven track record of any financial research service in existence.)
Here’s his latest thoughts on the crypto cycle:
WILL THERE BE A SUPER CYCLE THIS BULL RUN?
Answering this question Raoul broke it down with percentages:
60% chance: normal crypto cycle
20% chance: short cycle due to front loaded excitement from the ETFs
20% chance: super cycle due to institutional interest and demand
Price Predictions
Here’s Raoul’s price targets for this bull run:
Bitcoin: $250,000 (ETFs playing a big part)
Ethereum: $15,000 - $20,000
Solana: $750 - $1,000
Now if you’re surprised by that Solana prediction, here’s Raoul’s logic:
Bitcoin starts the cycle and outperforms at the start
Then people invest further out on the risk curve - Ethereum picks up
People then go even further out on the risk curve and Solana picks up big time 🚀
“The horse that’s moving faster is coming from a smaller adoption base… Solana moves faster”
Portfolio Breakdown
When answering this question, Raoul didn’t explicitly state his current portfolio.
But to show how strongly he feels about crypto he mentioned that 100% of his liquid net worth is invested into it.
“The fastest horse in the race is crypto. 100% of my liquid net worth is in crypto. And it has been since 2020… We are in a once in a life time wealth accumulation opportunity for everybody, rich or poor.
Crypto is a once in a life time opportunity.
Are you all in? 😎
ETHEREUM EXCHANGE BALANCE ⚖️
Two days ago we took a look at the amount of Bitcoin available for sale on exchanges.
Today, lets check in on Ethereum exchange balances.
As always, here’s how to interpret the chart:
Decreasing exchange balances: Bullish indicator as it signals a shift towards long-term holding 🐂
Increasing exchange balances: Bearish indicator as coins being transferred to exchanges are more likely to be sold 🐻
Currently there are only 13,332,917 Ether available for sale on exchanges.
That’s ~11.13% of the circulating supply.
Even less than Bitcoin’s percentage of coins on exchanges…
That effectively puts this metric at an all time low.
But it get’s even better when you realise that Ethereum is deflationary.
Currently the circulating supply is 119,810,166 ETH.
And the last time we checked in on this metric (two weeks ago) it was 119,845,253 ETH.
That’s a decrease of 35,087 ETH (~$149.5 million).
Ethereum’s supply dynamics are ridiculously good. 😎
CRACKING CRYPTO 🥜
Revolut to launch new crypto exchange amidst reports of listing Solana's BONK memecoin. The U.K.-based digital bank Revolut is preparing to introduce more extensive cryptocurrency exchange services, according to a report from Coindesk on Feb. 16.
Bitcoin mining difficulty surpasses 80 trillion ahead of halving. The upcoming halving will reduce rewards from 6.25 BTC to 3.125 BTC, potentially impacting hash rate and mining difficulty.
What does EIP 4844 mean for Ethereum rollups? Ethereum Dencun will enable transactions to be submitted as blobs, potentially alleviating the costs of posting data on the blockchain.
WHAT WE’RE READING 📚
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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”)
When did Binance's BNB token first launch? |
MEME CORNER 😂
Because what would the crypto world be without its share of memes?
Trivia Answer: D) July 2017 🥳
BNB launched July 2017, which started as an Ethereum token and later moved to Binance Smart Chain (BSC)
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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.
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