Today’s Nuggets
It Is Raining Tokens!
GM Resets in the World’s Biggest Car Market
The U.S. PPI Records 2nd Lowest Reading Ever
43% of U.S. Government Spending is Borrowed
Mt Gox Bag on the Move to Bitgo
Bitcoin’s Most Important Metric Review
DePIN is Stilling Winning
ETHE Dumping Faster Than GBTC Did
We will cover the ‘primary metric’, the most important myth in crypto: whether Bitcoin's price follows the hash rate or vice versa.
We will answer that today and show you that the markets are not as bad as you think!
Crypto Market Update:
Bitcoin dominance is 55%.
Bitcoin broke through $60K but we are chopping sideways again.
The Fear and Greed is down around 37.
I always talk about unlocks because they are so important.
Some think unlocks are a nothing-burger. However, they are not, especially when the same names are unlocked every single week. The gaming tokens like the sandbox and yoga games rain every week. This week, we have got AVAX, WLD, ARB, DOT, and NEAR.
In addition, it is important to know what is coming in terms of token unlocks...
This is a post from Milk Road about future unlocks. These are BIG!
The easy way to think about these unlocks is to calculate how many retail investors you need to buy these things to offset the unlock.
What do those who unlock do?
I love this chart and wish I could draw it well. If I could, I would do these all the time.
This is what unlocks become over time for stocks. Of course, we know the curve for Bitcoin went up fast in the early years and then started to flatten out.
The VCs buy at five or ten cents and only have to wait a year for it to be worth around $5. Are they going to hold? If they are half-intelligent, they know
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