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GM to all you crypto nuts. Crypto Nutshell #392 studyin’ the space... 🛸🥜

We’re the crypto newsletter that's more inspiring than an all-female baseball team making history... ⚾👩

What we’ve cooked up for you today…

• 🚂 Ethereum ETFs next week

• 🤯 Ethereum about to explode

• 🤔 There isn’t any ETH left

• 💰 And more…

MARKET WATCH ⚖️

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

ETHEREUM ETFs NEXT WEEK 🚂 

BREAKING: Five spot Ethereum ETFs, including Fidelity, will launch on July 23

Here we go!

Next week is finally the week we’ve all been waiting for.

The Ethereum ETFs are set to launch on July 23rd! 🥳 

Exchange Cboe posted the following notification:

According to the notice, the following 5 ETFs are scheduled to begin trading next week:

• Fidelity

• Franklin Templeton

• Invesco Galaxy

• VanEck

• 21Shares

This notice by Cboe is standard procedure.

Ahead of new product launches, notices like these are always published.

In case you’re wondering why all the other Ethereum ETFs aren’t mentioned here, it’s because the others are listed on other exchanges.

• Grayscale mini: NYSE

• Bitwise: NYSE

• Grayscale: NYSE

• BlackRock: Nasdaq

Only two more days to go…

In the next section we’ll be breaking down 6 reasons why Ethereum is set to explode. 🚀

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WHY ETHEREUM IS ABOUT TO EXPLODE 🤯 

The launch of the Ethereum ETFs is a game changer.

A supply shock is forming…

It’s the perfect storm…

These are just some of the latest insights from our very own Jamin Currie.

In our latest YouTube video (you should really subscribe if you haven’t already…) Jamin broke down 6 reasons you need Ethereum.

Let’s break them down.

1. What can we learn from prior cycles?

Historically, Ethereum has always outperformed Bitcoin at this point of the cycle.

• 2017 cycle: ETH outperformed BTC by 550%

• 2021 cycle: ETH outperformed BTC by 250%

Now that is only 2 data points, but you can see the trend.

And there’s nothing suggesting that this won’t be the case again.

However, the level of outperformance from Ethereum has been diminishing.

So for this cycle, Jamin is predicting a ~125% outperformance. (over BTC)

As the saying goes: “History doesn’t repeat itself, but it often rhymes”.

2. The Ethereum ETFs are coming

As we mentioned at the start of this Newsletter, the Ethereum ETFs are launching on July 23rd.

And they are going to be MASSIVE.

One of the most underrated aspects of the Ethereum ETF approvals was the classification of Ethereum as a security.

That statement alone just de-risked ETH.

No longer does it have the dark cloud of lawsuits from the SEC looming over it.

But what level of inflows can we expect from them?

Bitwise’s CIO, Matt Hougan, is predicting $15 billion in net inflows for the Ethereum ETFs in their first 18 months.

3. Supply Shock

Ethereum’s supply side dynamics are ridiculous.

For the past ~2 years, Ethereum has been deflationary at a rate of -0.132% per year.

This means no new supply has been created. (in fact the circulating supply has been decreasing).

This is completely different to Bitcoin which currently has an inflation rate of 0.85%. 

But, this gets even better when you consider the amount of Ethereum locked for staking.

Right now ~28.06% of the Ethereum supply is being staked. (effectively taking it off market and into the hands of long-term holders)

AND…

Exchange balances are also hitting all-time lows. (which we’ll dive into in the next section)

That’s an insanely good setup heading into the launch of the Ethereum ETFs.

And those are the first 3 reasons why Ethereum is set to explode.

For the final 3 reasons you’ll need to watch the full video… (sorry we had to do it)

It’s a banger. Trust us.

Plus there’s even a juicy Ethereum price prediction at the end that you’ll not want to miss.

Click here to watch the full video.

THERE ISN’T ANY ETH LEFT 🤔

Well it looks like this newsletter has turned into an Ethereum special edition…

As mentioned in the previous section, let’s jump into the amount of Ethereum available for sale on exchanges.

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 is only 12,207,500 ETH available for sale on exchanges.

That’s ~10.18% of the entire circulating supply. (that’s nuts)

This effectively puts this metric at an all time low. (it’s been pushing all-time lows for the last few weeks now)

In fact, as a percentage, there’s even less Ethereum on exchanges than Bitcoin.

That’s insane, considering Bitcoin’s exchange balances are already exceptionally low.

The Ethereum supply is seriously tight…

As we mentioned earlier:

• For the last two years Ethereum has been deflationary

• 28.06% of the supply is locked for staking

• And now only 10.18% of the supply is available on exchanges

This week, we get the ETFs.

With numbers like those, how can you not be extremely bullish?

We’ve never seen a setup quite so good.

CRACKING CRYPTO 🥜

Binance.US secures court approval to invest $40 million in US Treasury bills. Crypto exchange Binance US cleared to invest $40 million in short-term US Treasury Bills.

South Korea's strict laws on crypto exchanges come into force. South Korea's financial regulator has introduced the "Virtual Asset User Protection Act," which took effect on July 19.

BitForex to Open for Withdrawals Following Chinese Police Investigation. The exchange has been offline since February.

JPMorgan says crypto rebounds ahead unlikely to be sustained. JPMorgan analysts say that any rebound in crypto prices from this point is likely to be tactical rather than sustained.

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

• Seven Point Sunday (link) - Learn to build your career every Sunday

• Bullseye Trades (link) - Daily stock market tips

• Crypto Pragmatist (link) - Actionable alpha 3x a week

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

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

• 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: D) MicroStrategy 🥳

MicroStrategy currently holds 226,331 BTC.

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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.