🥛 Is DePIN crypto’s #1 draft pick? These numbers suggest they are… 🏈
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✍️ Is DePIN crypto’s #1 draft pick?
✍️ Crypto fire sale, ending soon?
🎙️ The Milk Road Show: Are L2 Tokens the Next 10X Opportunity? w/ Kyle Reidhead
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🍪 Tether announces UAE Dirham-Pegged stablecoin
IS DEPIN CRYPTO’S #1 DRAFT PICK? 🏈
Picture two high school quarterbacks, from two rival townships.
One goes on to the NFL, becoming a globally recognized figure in the process…while the other stays in the minors, becoming famous within his local community.
Right now, crypto is made up mostly of ‘hometown heroes’ – killer products/platforms/protocols that serve the tight-nit crypto/web3 community.
…but very few have made the draft (aka: the mass market arena).
Which is why the new signals we’re getting from decentralized physical infrastructure (DePIN) projects, Hivemapper and Helium, are commanding our attention like a DVD wait screen.
🫰 Hey, enough of that – eyes over here 👀 check this out:
1/ From Hivemapper, the crypto app that pays users to video-map their local streets (as if they’re running their own private Google Street View car):
2/ As for Helium (the decentralized mobile network provider that pays folks to share their 5G internet bandwidth with its customers)?
Check out Helium's growth in carrier subscribers!
…now, here’s the kicker: some Helium customers have the potential to make their mobile service a net-zero cost!
And this adoption seems to be reflected in DePIN’s recent performance – it’s the only sector to be flashing positive of late:
Ok, so what’s working here?
Zooming in…
Global physical infrastructure updates, like cell tower installations/upgrades and real-world mapping are logistical nightmares.
Hivemapper and Helium each solve these pain points for legacy tech companies by using token incentives to bootstrap localized data and infrastructure development – something that cannot be achieved without blockchain (boom!)
Zooming out…
The broader winning formula looks something like this:
Instead of creating crypto solutions to solve crypto-centric problems, these two are using blockchain tech to solve real-world problems (for companies with deep pockets).
Now that’s ‘number-one-draft-pick’ behavior if we’ve ever seen it.
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CRYPTO FIRE SALE, ENDING SOON? 🏷️
We’re in a storm. But the skies appear to be clearing…
The $BTC and $ETH markets have been flooded with new supply and increased selling pressure of late – with some of the biggest culprits being:
Grayscale’s $ETHE ETF (its high fees are pushing investors to sell)
Mt. Gox (repaying creditors that lost $BTC in their 2014 collapse)
German Gov. (selling off its seized $BTC)
US Gov. (potentially selling off the $BTC it seized from Silk Road)
A single point of selling pressure can be weathered…two can be painful, but often manageable…three or more? That can be long and grueling (👈 we are here).
The good news is, 124k of the total 227k $BTC to be sold has already been absorbed by the market.👇
We’re not out of the woods yet – and other selling events could pop up in the future – but the current supply overhang for $BTC appears to be drying up.
Which is of particular importance, because:
Bitcoin tends to drive the market long term.
Buyers are less likely to start accumulating when there’s a wall of publicly tracked selling pressure in front of them (those fears are slowly being calmed).
The forecast:
Potential for markets to continue grinding sideways, as the market absorbs the last of this known supply.
Once those clouds part, investor confidence can rebuild.
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Meet Kelp DAO: The liquid restaking protocol making waves in EigenLayer. Want to keep your restaking deposits flexible and still competitive? Dive into our review to find out how it is possible.
Bitcoin’s increasing market share is driving overall crypto market growth. Investors are shifting toward more stable assets amid ongoing economic uncertainty. Long-term holders remain confident, while short-term traders face growing losses.
BlackRock’s Ethereum ETF Leads with Over $1B in Net Inflows. The ETF outperforms other Ethereum-related funds, setting a new standard for institutional crypto products. BlackRock now holds a strong position in the market as Ethereum ETFs face significant net outflows.
Tether Partners with UAE Firms to Launch Dirham Stablecoin. Backed by UAE-based reserves, it offers a stable, cost-effective solution for businesses and individuals alike.
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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.
