WW3 threat causes crypto crash, GCR saves crypto, Bitcoin halving | TS-012
WW3 threat causes crypto crash, GCR saves crypto, Bitcoin halving | TS-012
plus: $PUPS memecoin on BTC, embracing curiosity to win,
it appears ww3 has been cancelled, let the bulla commence… this is top six stories in crypto
TOP SIX STORIES IN CRYPTO
Buy the invasion: WW3 threat causes crypto crash
GCR saves Crypto with one tweet
Bitcoin halving brings Rune Mania
PUPS: the first memecoin on BTC?
Where to trade Runes (memecoins on Bitcoin)
Most things are a ponzi - how knowledge from past cycles holds you back
1. Buy the invasion: WW3 threat causes crypto crash
Earlier this past Saturday, Iran attacked Israel - don’t worry, i’m not about to pivot into geopolitics - but when you’re a market participant, it’s hard to ignore world events because of the impact they have, especially on the market.
When countries decide to go to war, the market usually does this 👇🏼
It’s something we’ve seen time and time again - during times of chaos, markets reflexively contract. It is also one of the best times to buy - the graphic below was widely shared on Twitter on Saturday - “buy the invasion.”
If you had any stablecoins and were waiting for a bloody day, Saturday was it - because 24 hours after Iran attacked, they said they were done - no more attacks. It appears Israel and the US seem to want to de-escalate the situation… so the price is now slowly recovering - the bulla is back on (for now).
2. GCR saves Crypto with one tweet
The night is darkest just before dawn, and in the middle of a massive crypto crash due to the possibility of war, GCR re-emerged.
For those who don’t know, GCR is a crypto twitter (CT) OG - an absolute killer trader, most notably known for shorting Luna shortly before it crashed 99%. His calls on Crypto, trading, and geopolitics have put him into legend status in the annals of crypto twitter. But he decided to hang up the gloves and stopped tweeting from his account almost exactly 1 year ago.
And when CT needed someone most - he dropped a banger tweet, which galvanized everyone and returned the bullish sentiment, effectively reversing billions of dollars of marketcap that was wiped out hours before. Seriously. Don’t believe me? Click the image below and check out the replies - the who’s who in CT, including everyone you know weighed in.
GCR’s message was sound too - either deploy now or survive if you’re already in, it’s a great time to buy. This tweet will likely go down in history along with Cobie’s famous “buy wall” tweet during the Covid crash in March 2020.
Study crypto history.
Study the greats.
3. Bitcoin halving brings Rune Mania
The bitcoin halving (not halvening…) is about 4 days away! Slated for April 19, this will be the first time BTC is sitting close to its previous cycle’s ATH at the halving.
If you don’t know, the halving is when BTC’s supply submission cuts in half, this time going from 6.25 to 3.125 BTC created per block. This supply shock has caused the price of BTC to rip 6-8 months after it. But this time, there’s something new coming: Runes.
Runes are memecoins (shitcoins?) on bitcoin. They are a new protocol launching the day after the halving, which will, for the first time, allow people to mint and create memecoins on Bitcoin. This protocol was invented by Casey, who is also the creator of the Ordinal protocol (think, NFTs on bitcoin).
While the protocol for Runes launches on April 20th, you can trade “Pre-runes” right now on Magic eden - these are Ordinals that will get a specific allocation of that specific Rune after the halving.
You can also trade them as “brc-20s” on Unisat, which is more complicated but has been profitable for many if you bought them months ago.
All eyes are on Bitcoin this week for the halving and the launch of Runes - memecoins are coming to BTC, buckle up!
4. PUPS: the first memecoin on Bitcoin?
With Runes less than a week away, PUPS has taken crypto twitter by storm. It’s a BRC20 token and also an ordinal, based off on Bitcoin Puppets. It’s not by the same artist but embraced by the community nonetheless.
Some people, like Ansem, have been saying PUPS is the first memecoin on Bitcoin, which created a whole debate. Technically, PUPS are not the first memecoin on Bitcoin - there have been others. But is PUPS the first one to reach a cultural zeitgeist? The first one that people outside of small Ordinal circles know about? Absolutely.
You can get PUPS on Solana, on unisat, or buy the Rune Pups ordinals which will get an allocation later this week/early next.
5. Where to trade Runes (memecoins on BTC)
Ok, Runes are launching this week. But where do we trade them? Will they be traded on DEXs like Uniswap? Will CEXs have them?
Well - both. Sort of. We know for sure that Magic Eden is launching their own Runes marketplace - based on the screenshot below, it looks like it’ll be a similar experience to trading Ordinals (i.e. buying an ordinal, waiting for the block to confirm - thus the “buy broadcasted”).
CEXs will also list Runes, like they have PUPS already. There are rumours that the team behind RSICs will be launching a DEX to trade runes, but nothing is confirmed at the moment. We’ll find out next week.
6. Most things are a ponzi - how knowledge from past cycles holds you back
Ending off this week with a long post from my Twitter - how previous cycles knowledge and context will sometimes hold you back, and you’ll end up underperforming (click the image to read it on X).
As always, if you found value please share with a friend or tweet this out. Thank you for your attention.
- atareh
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