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- The Alt season Kick off!
The Alt season Kick off!
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SCOOPāS TL;DR
š MARKET SENTIMENT
Friday was explosive. Bitcoin pushed past the ATH mark taking us just over $70K. We are in unprecedented times for the crypto markets. Pushing past the previous all-time high ahead of the halving is simply unbelievable.
šļø BARBELLāS WEEKLY PICK
$NAKA - NAKAMOTO GAMES
šļø TOP STORIES
Revolut Ramp
Binance Perfume
SafePal Venture
š WEEKLY WINNER
$JUP
š” REKT SECTION
609.SOL
š PREMIUM SCOOP
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Crypto Total Market Cap $2.6T - 24/hour change +2%
Majors - 24/Hour change
BTC - $68,333 - +1.65%
ETH - $3898 - +0.50%
Friday was explosive. Bitcoin pushed past the ATH mark taking us just over $70K. We are in unprecedented times for the crypto markets. Pushing past the previous all-time high ahead of the halving is simply unbelievable.
We would like to see Bitcoin range here for a while, but donāt be surprised if it smashes past $70K next week.
But this cycle, we have institutional inflows, so is this surprising? We have had a floodgate of capital open to Bitcoin, and we believe the majority are underestimating its effect on the market.
The reason we say this is because, many analysts believe we are going too high too quickly, resulting in an accelerated, shortened cycle.
We are wary of this being the case but on the contrary. Letās keep it simple. we have the biggest capital inflows into Bitcoin we have ever seen & the infrastructure in place to facilitate it. The capital inflows have only just started to ramp up and we have a supply shock ahead of us with the halving. So why would the market just pack up and leave so soon?
We believe the real meat of the cycle is still to go. It is wild times, and the longer Bitcoin holds/ranges at these levels the more explosive a full-blown Alt season will be when BTC dominance drops.
ETH edging closer to the elusive 4k mark, currently hovering at 3942. SOL showed impressive gains this week, nearly hitting 150 and now resting at 146. The outlook remains bullish on all three of these coins. If you prefer a hands-off approach, simply holding onto these positions and riding out the volatility might be the easiest strategy for now. Memecoins saw a slight dip on Thursday but bounced back hard on Friday with PEPE, WIF, DOGE, BONK, and SHIB all showing gains of about 25-35%. Memecoin activity typically picks up over the weekend, fueled by increased leisure time for traders and the absence of ETF-related BTC volatility. Thursday saw an influx of nearly $500 million in ETF inflows, contributing to the ongoing market momentum.
Bitcoin dominance still sitting just below 54%, not quite as low as we would expect for a full-blown ALT season, but that being said ALTs, especially in Memes, AI & Gaming are starting to show fierce momentum. More of this to come.
Ethereum
Bitcoin has shown its hand, and in the last week, it has been ETHās turn to party. The asset is so close to breaching 4K you can taste it. We expect to see ETH begin to outperform BTC significantly. What goes next? The Alts.
ALTs
ALTs are beginning to lead the dance with AI & gaming coins waking up today & choosing violence. If Bitcoin can continue this range for a few days. Expect to see aggressive price action to the upside.
š® NARRATIVES TO FOCUS ON IN 2024
- AI Infrastructure / Autonomous agents
- GPU / Cloud Computing
- Gaming / Game-fi
- DEPIN (Decentralised Infrastructure)
- RWA - Real-World Asset tokens
- Memes - (youāre not too good for them)
- BTC Defi / BRC20
- New Layer 1ās
- Parallelization EVM / Modular Blockchains
- Solana Killers
Be the envy of friendsā¦
šļø BARBELLāS WEEKLY PICK
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In each issue, our Founder āJack Barbellā delivers a hot rising star crypto asset that is yet to explode.
You can Follow Jack Barbell on X - @thebarbell_
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Chain - Polygon
Marketcap - $196M (Premium subs got this at $36M)
Tokenomics - 40% diluted
Risk - 6/10
Where to buy? - BINGX/ KUCOIN / MEXC
Scoopās take
Last week, we discussed our increased interest & conviction in AI with the upcoming NVIDIA conference. On top of that, we shared our conviction in how gaming is ripe for disruption through crypto & web3.
As well as AI, it is starting to make serious sense to have exposure to the gaming category ahead of the bull. One project that still pretty low market cap compared to its competitors is Nakamoto games, in-game currency $NAKA, $NAKA tokens act as the primary in-game currency, enabling players to purchase ammunition, weapons, and other essential items within the gaming ecosystem. When players spend $NAKA tokens in-game, a portion of them is systematically burned, while the remaining tokens contribute to funding weekly prize pools for the top-performing gamers.
Nakamoto Games has a fully-fledged working suite of playable games, both free & play to earn. We have tried out the games & whilst we arenāt huge gamers ourselves, it is clear the games, are functional, fun & actually work. This isnāt a promise of future plans, the product is live today.
The $NAKA token serves as a powerful tool to motivate developers to create and introduce new games and features for the Nakamoto Games platform. This incentive structure ensures a continuous flow of fresh and innovative content, enhancing the overall gaming experience for players.
As far as gaming ecosystems go. We love Naka. Strong branding, Functional product, thriving community, and a market cap that has a huge room for growth.
Our recommendation, check them out, visit their site & try the games. This one could be a runner.
š TOP STORIES
Revolut Ramp - Another Simplifier For The Masses
At a glance š
The digital bank has launched Revolut Ramp to make it easier for customers to purchase crypto.
They have teamed up with MetaMask to allow users to add funds to their MetaMask account directly from their Revolut account
The product has launched in the U.K. and European Economic Area.
šµļø Scoops take:
When you see the bullsh*t that has gone on with traditional banks making crypto life a living hell, this is exactly what we want to see.
Progressiveness might not catch on with the āboomer banksā but you know how this goesā¦Open a Revolut account and close the HSBC one.
This will be massively beneficial to users across the continent (with a hopeful global rollout) as gone are the hurdles of maximum deposits / maximum withdrawals / automatic notification to the IRS equivalent of activity and most importantly we can deposit directly into Metamask with fiat currency.
Letās get depositing.
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Binance Perfume - Can you smell that?
At a glance š
Binance has launched a new perfume attempting to attract more women to crypto.
The scent is said to be āblending finance with fragranceā
The move comes ahead of International Womenās Day on the 8th of March
šµļø Scoops take:
You would think that a bunch of misogynistic men have come up with this ideaā¦letās bring women to crypto with perfume. Wrong, it was CMO Rachel Conlan.
In terms of the smell, nailing it may not be accurate - 24-hour care of the portfolio and skipping a shower or three is how this bull is treating us.
We donāt know about you, but the last thing we need is some gender disputes hitting the space, we are all DEGENZ!
If anything, we donāt just want women coming to the space, we want everyone. So, grab the bull by the horns and the wealth will be astronomical for us.
CZ didnāt ādieā for this.
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SafePal Venture - Another Tool for the Community.
At a glance š
Crypto wallet SafePal has launched a USDC Visa card.
Users can open an account and use USDC stablecoin as the default deposit currency.
The company has invested in Swiss bank, Fiat24, to accelerate the bridging.
Users will be able to swap their coin holdings into USDC via Arbitrum. The USDC can then be stored in U.S Dollars, Euros or Swiss Francs to be used in transactions and expenses.
šµļø Scoops take:
Itās just like waiting for the bus, you wait forever for one and then two come along.
The winners, once again, are the consumers.
We are entering a place where the crypto world is becoming so populated, that companies are delivering more and more to win the custom.
Itās like being an influencer without having to influence - enjoy everything that comes your way and find out what works for making your life easier.
Things will only get better from here.
Experience crypto-friendly living for the 1st time! š
š§µ Learn More
ā SafePal - Crypto Wallet (@iSafePal)
8:40 AM ā¢ Mar 7, 2024
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š WEEKLY WINNERš
$JUP
The bull charges on.
The latest to lap it up is Jupiterās token $JUP.
The token has burst through the $1bn market cap and is up 32% in the last 7 days and 46% in the last 30.
Its market rank may be #101 but that is just a testament to how those not at the very top are smashing down $1bn.
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š” THE REKT SECTION š”
609.SOL
Sometimes fumbling the bag is an inconvenience, and other times it is devastating.
In this instance, 609.SOL has laughed it off but it is a major blunder.
He sold his WIF holdings for $800 and if he held on, it would be worth $13,795,900.
The only positive to take is more plays like this can exist in the bull!
Update. The WIF I sold for $800 is now worth $13,795,900 š«”
Unbothered. Moisturized. Happy. In my lane. Focused. Flourishing.
ā 609.sol (@609NFT)
5:19 PM ā¢ Mar 6, 2024
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