June 25, 2021 / Unchained Daily / Laura Shin
Daily Bits ✍️✍️✍️
What Do You Meme?
What’s Poppin’?
Investing in cryptocurrency companies is poppin’.
Yesterday, Andreessen Horowitz launched a new $2.2B crypto fund. The VC plans to invest in a slew of companies across the blockchain and digital asset space. a16z also announced former Securities and Exchange Director Bill Hinman will join the firm as an advisory partner.
A new $2.2B fund should only accelerate the pace of crypto investments. According to Dove Mountain Data, crypto companies received an influx of $329,450,000 across a series of eight fundraising rounds announced over the past week.
Source: Dove Mountain Data
With that in mind, let’s test your knowledge:
Recommended Reads
- WallStreetBets Dapp is creating a macro hedge exchange-traded product with the help of Balancer labs:
- Everything you need to know about DAOs:
- Nassim Taleb, the author of several well-regarded books on finance, published a paper critiquing Bitcoin, saying “[I]n spite of the hype, bitcoin failed to satisfy the notion of ‘currency without government (it proved to not even be a currency at all).”
You can find the full criticism here.
Nic Carter, co-founder of Castle Island Ventures, gathered a thread of threads, rebutting Taleb’s paper:
On The Pod…
Strong Hands Aren’t Selling Bitcoin. So Who Is?
Will Clemente, author of the BTC by WC3 newsletter, breaks down the current state of Bitcoin’s on-chain activity and explains why he believes the market is in a mid-cycle lull rather than turning bearish. Show highlights:
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why Will is not worried about a bear market
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what indicators make Will believe BTC is in a mid-cycle consolidation
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who is selling and driving the recent market downturn
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why Will thinks the unwinding of derivatives is a significant factor in Bitcoin’s move below $30K
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what Will believe institutions are waiting on before entering the market again
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how Bitcoin cycles can be broken down into mini hype-cycles
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how long-term holders are acting on-chain
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the difference between long-term holders versus short-term holders during bear and bull markets
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why Will is interested in finding data on Latin American Bitcoin users
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how long the consolidation process might take
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what metrics Will has his eyes on for the latter half of 2021
Book Update
My book, The Cryptopians: Idealism, Greed, Lies, and the Making of the First Big Cryptocurrency Craze, is now available for pre-order now.
The book, which is all about Ethereum and the 2017 ICO mania, comes out Nov. 2nd. Pre-order it today!
You can purchase it here: http://bit.ly/cryptopians
Source: https://unchainedpodcast.com/ark-invest-bought-the-dip/
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