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We’re the crypto newsletter that's more inspiring than a story of an underdog boxer getting a shot at the world title... 🥊🏆

Today, we’ll be going over:

• 💎 The SEC concedes against Ripple executives

• 🌊 The secret Tsunami coming for crypto

• 🥲 Altcoins are not holding up

• 🤑 And more…

MARKET WATCH ⚖️

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

THE SEC CONCEDES AGAINST RIPPLE 🥳 

BREAKING: SEC drops charges against Ripple executives

Ripples’s Brad Garlinghouse and Chris Larsen are in the clear. But, Ripple and the SEC still have to settle the institutional XRP sale violations.

In an October 19 press release, the SEC agreed to drop charges against the two Ripple executives.

CEO Brad Garlinghouse and executive chair Chris Larsen were charged with aiding and abetting Ripple’s institutional sale of XRP.

Garlinghouse had this to say:

Off the back of this victory, XRP’s price exploded rising more than 5.5% in the last 24 hours. 🚀

Keep in mind this dismissal does not fully conclude the SEC’s case against Ripple. The SEC still has an ongoing case against Ripple as a corporation.

Back in July Ripple received a major victory when a judge ruled that the sale of XRP on exchanges did NOT violate securities laws.

In August the SEC tried to appeal this decision but a judge rejected it.

However the original ruling determined that the sale of XRP to institutional investors DOES count as a security. This is what Ripple and the SEC have to settle on.

Ripple: 3
SEC: 0

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THE SECRET TSUNAMI COMING FOR

CRYPTO 🤫

There’s a major tailwind coming for crypto that few are aware of.

Today, twitter macro analyst @rektdiomedes posted a fascinating chart.

A record breaking 25.9% of all household wealth is now held by Americans aged 70+.

With household wealth at $154.3 trillion, this represents ~$40 trillion dollars.

Which leaves a glaring question:

What happens to all this Boomer money over the next 2 decades?

Our answer? Crypto.

Here’s why:

This is the breakdown of crypto ownership by age bracket:

• 18-29: 27%

• 30-44: 22%

• 45-54: 11%

• 55-64: 5%

• 65+: 3%

Almost nobody over the age of 70 owns crypto. Which makes sense.

They grew up the least digitally-native. The scepticism surrounding digital money is understandable.

The younger a generation is, the more digitally native they grew up. They are much more inclined to use & invest in crypto. 👾 

Over the next 2 decades, trillions of dollars is going to trickle down from Boomers via inheritance.

Younger generations aren't big fans of legacy investments like gold or bonds. The money won't find its way to these assets.

But a large portion of it will find a home in crypto. 🌊

ALTCOINS ARE NOT HOLDING UP 🥲

Bitcoin’s dominance has been on a tear recently.

We’ve just seen it reach a yearly high of 52.28% 😲

What do we mean by Bitcoin dominance?

Bitcoin dominance measures Bitcoin’s share of the total crypto market. It’s calculated by taking the market cap of Bitcoin and dividing by the total crypto market cap.

• Increasing BTC Dominance: Bitcoin is outperforming altcoins 📈

• Decreasing BTC Dominance: Altcoins are outperforming Bitcoin 📉

On a YTD basis, the top altcoins have been underperforming relative to Bitcoin.

• Ethereum: down 24% against Bitcoin

• Cardano: down 43% against Bitcoin

• BNB: down 50% against Bitcoin

• XRP: down 17% against Bitcoin

• Dogecoin: down 52% against Bitcoin

Now for all you people out there invested in some of the coins mentioned above. This isn’t necessarily anything to be too worried about. In fact it’s normal for this to happen during bear markets.

During bear markets, people tend to de-risk their investments. This means putting their money back into Bitcoin. 

Once we enter the bull market, then people start to invest in riskier assets. This means money starts flowing back into Ethereum and then other altcoins.

For example, during April 2021, Bitcoin’s Dominance fell by 10% over the course of the month. This was peak altcoin season.

Bottom Line: Right now in the bear market, investors are deciding to stick with Bitcoin. The looming ETF approvals & Bitcoin halving are also undoubtedly playing a role in this increasing dominance.

CRACKING CRYPTO 🥜

WHAT WE’RE READING ✍️

Want to get even smarter? Check these out.

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CAN YOU CRACK THIS NUT? ✍️

What was the ticker symbol for the U.S.’s first Bitcoin futures ETF, launched in 2021?

• A) HODL

• B) BTCF

• C) BITO

• D) BTFE

Find out the answer at the bottom of “Meme Corner” below 😀

MEME CORNER 😂

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

Trivia Answer: C) BITO 🥳 

ProShares launched the first U.S Bitcoin futures ETF, BITO, on October 19 2021.

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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.