Today’s Nuggets
If Brazil does this, BTC goes straight to $150K
24/7 Coinbase Futures Land
DeFi Dominance is Now at 88%, SOL is the DeFi Chain
JUP Perping is also back with Ultra Swaps
Kamino Explodes, deBridge Popping
78% of Circle USDC is powered by Solana
Robotaxis are the New Reality
Very Hard to Land a Job Today
In this story, we will review a few key points without dwelling on the obvious and identify some of the volatility triggers that occurred this week.
There are numerous developments in the broader crypto space that we will touch on.
Everything is relatively flat, despite the extreme volatility that is out there - very impressive, I must say.
Solana is down slightly. Bitcoin is up slightly. Ethereum is up 2%. Again, everything is pretty much hanging in there now.
This could be why Bitcoin is up after all the nerves around the global sabre rattling.
The DXY is down, and typically, this means that Bitcoin rises. The dollar is tanking, and nobody wants U.S. treasuries. Nobody wants treasuries in general, as the bond market is changing.
Brazil is potentially set to become the first G20 nation to allocate up to 5% of its reserves into Bitcoin through landmark legislation currently advancing in Congress.
This is different from El Salvador's executive approach. Brazil's bill creates a Strategic Bitcoin Reserve through proper legislative channels, providing robust institutional backing. This move could trigger many other nations to do the same.
Brazil has about $370 billion in reserves. So 5% of this fund is huge. I believe that if they allocated five percent of the reserves to Bitcoin, the price would shoot to $150,000 instantly. This is before any of the other dominoes fall, so it is a crazy, exciting time to be alive again.
There is no such thing as printing
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