SCOOP’S TL;DR

📈 MARKET SENTIMENT

• The sentiment is still super greedy, it’s a strange one because it’s the type of sentiment we would expect when we are further through the cycle than where we are now. It does make us feel that we will see a short-term crash of 20-30% at some point soon. But dips will be eaten thick and fast and should be treated as gifts. Our thoughts are, ‘Be bullish in a bull market’.

🔥 THE TRENDING NARRATIVE

• Wen Alt Season?

🏋️ BARBELL’S WEEKLY PICK

• $CAH - Moontropica

🗞️ TOP STORIES

• Nigeria Crypto Block

• Valkyrie New Offering

• UK Stablecoin Deadline

🏆 WEEKLY WINNER

• Eigen Labs

😡 REKT SECTION

• The SEC

💎 PREMIUM SCOOP

• Here are the top 7 promising & super early AI tokens all below $100M mcap

  

BITBOY BEATS DOWN ‘HarryPotterObamaSonic10Inu’ DEV

Ok so this is hilarious, Influencer BitBoy and the Dev behind $HPOS10 had a ‘Karate Combat’ fight. BitBoy went all in, showing heart & winning the fight, causing the $HPOS10 chart to crash!

The $HPOS10 chart reaction…

• Crypto Total Market Cap $1.96T - 24/hour change 2.44%-

• Crypto 24-hour Total Volume $93.19B - 28.12%+

  • Majors - 24/Hour change

  • BTC - $50,995 - 3.43%-

  • ETH - $2966 - 2.77%-

  • The sentiment is still super greedy, it’s a strange one because it’s the type of sentiment we would expect when we are further through the cycle than where we are now. It does make us feel that we will see a short-term crash of 20-30% at some point soon. But dips will be eaten thick and fast and should be treated as gifts. Our thoughts are, ‘Be bullish in a bull market’

  • Bitcoin is gonna chop here within the range. It is likely we will see it push up and down, within a 5k range, $50k-55K, back down, etc.

  • It has been a common theme over the last few weeks, but we will say it again. We know the direction we are heading in the next 12 months. We can say with the utmost confidence that it is up. So in terms of the short-term price action, it matters much less in a bull market, whether you buy today, buy slightly lower, or slightly higher in reality it doesn’t matter.

  • Bullish times ahead.

  • Bitcoin/dominance

  • Bitcoin’s reign on the market slips lower, to 52.5%, and ALTs are feeling the push. Saddle up.

    Ethereum

  • Ethereum keeps flirting with the $3K mark and has recently been the stronger performer against Bitcoin.

    ALTs

  • As mentioned above, whilst alts look like they have been tearing, the fun is just beginning, we have all the right ingredients brewing for a blown alt season.

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  🔮 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 - (you’re not too good for them)

• - Eigen Layer

• - BTC Defi / BRC20

• - New Layer 1’s

• - Parallelization EVM / Modular Blockchains

• - Solana Killers

  

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🔥 THE TRENDING NARRATIVE

Crypto is a narrative & trend-driven game, where attention goes, the money flows. So what’s hot?

wEn aLt sEaSon?

We have discussed for a few weeks now, ALTS are waking up, and AI tokens are running hardest, the gains seen in AI, actually have people a little shaken, thinking to themselves “Is the top nearly in” “Why aren’t my bags pumping, but others are” “It's over already”

We are here to tell you this isn’t the case and below is a reminder that huge gains are ahead of us. But be warned, it is beginning now, so don’t get left behind.

Alt season is at its fullest when retail is re-mortgaging their houses to APE into ant shitcoin that launches. Data shows us that they are starting to raise their heads, but, this is just the start.

Here is the retail trading volume data from Coinbase, at this point, we are roughly 5X off the all-time high of the last top in terms of trading volume. As we can see, retail entry has begun, but the vast majority aren’t here yet.

The next image shows us the path to alt season. Or as we like to call it, ‘The Shitcoin Waterfall’. It is a great visual example of how money typically flows in Crypto each cycle and so far it is playing out perfectly.

• We must stress though, Phases 1 & 2, take the longest, but Phases 3 & 4 come thick and fast, and if you aren’t prepared the final phases will rip past you like a freight train.

• We expect to have 12 months left of this Crypto Cycle, it’s a long time, dial in now and the next year could change your life.

🏋️ BARBELL’S WEEKLY PICK

In each issue, our Founder ‘Jack Barbell’ delivers a hot rising star crypto asset that is yet to explode.

You can Follow Jack Barbell on X - @thebarbell_

• Moontropica - $CAH

• Gamefi

• Website

• Market cap - $43 Million

• Chain - ETH/BEAM

• Stretch Potential - 100X

• Trade Idea - High risk - Billy or Bust - It’s a fun-style game that could run like hell as retail floods back into the market. When the market decides to run like turbo, the most simple of things moon the hardest.

• This play doesn’t come without risk, allocate a small part of your portfolio if you want to play. If this catches fire like Axie Infinity, we could see it 50-100X from here.

• History doesn’t repeat itself but it often rhymes.

  

  We get it, right now, every AI token is mooning hard, and there’s no doubt that it’s the front-running narrative this cycle. That being said given that gaming is easy for the masses to grasp, for us it has to be a close second. The trend is your friend, but to make it big in crypto, it’s also important to look where others are not.

  Gaming is poised to be bigger and better than last cycle and Moontropica emerges as a formidable contender alongside giants like Axie Infinity. Developed on the $Beam platform (which is poised to be GameFI leader this cycle), Moontropica offers players a captivating gaming experience with elements of adventure, strategy, and community interaction, reminiscent of classic titles from the past.

  Imagine a fusion of Zelda, Animal Crossing, and South Park with a crypto twist – that's the vibe of Moontropica. Players dive into an immersive metaverse where they craft their own adventures, solve puzzles, and interact with a dynamic gaming environment. Moontropica distinguishes itself with its nostalgic charm and simplicity, appealing to a broad demographic with its straightforward yet engaging gameplay.

  Like Axie Infinity, Moontropica has an immersive where players can explore, compete, and collect rare items. Moreover, Moontropica's integration of the $CAH token for in-game purchases adds a layer of financial incentive and investment opportunity for players, akin to Axie Infinity's AXS token. This tokenomics model not only enhances the gaming experience but also incentivizes early adoption and participation.

  Interest is picking up on $CAH, we can see that the number of growing addresses holding Moontropica’s $CAH is increasing rapidly, as we can see from the data provided by ‘DEGAME.

  

  They say to bet on cults & communities, and from what I can see, the growth, discussion & content discussion around Moontropica appear very much organic & not botted across our Twitter screens with fake accounts. Whilst Moontropica may not be the absolute talk of the town right now, we like the community growth that is forming.

  The project is committed to engaging the community with cross-collaboration. The recent community competition to create your own character in collab with AImage is interesting and fans of the game look to be getting stuck in.

  

  Overall it feels like this project is ticking all the right boxes to fuel exciting growth when ALT season and specifically gaming takes hold. Lucky for you guys, it is still a super low market cap and it won’t take much for this to start shifting.

🌐 TOP STORIES

Nigeria Crypto Block - The Government Is Playing With Fire

At a glance 🔎

• The Nigerian Government has reportedly blocked access to Kraken and Binance.

• Coinbase was also rumoured to have been on the block list, however, it appears to still be accessible.

• The Government have chosen to block access to curb the slide of its local currency.

🕵️ Scoops take:

Whether they remain blocked permanently or temporarily, this is nothing short of a disaster.

We should all be concerned that the Government can block these websites which goes against the principles of Decentralized finance.

At a time when we are seeing Cryptocurrency being recognized as a legitimate investment elsewhere in the world, along comes some BS Government control to slow down the movement.

Bumps along the road are normal and as always Crypto shall prevail.

AI tokens are taking crypto by storm right now. They are 2-5X by the day & making people rich overnight, it doesn’t look like the train is slowing down any time soon.

Here are the top 7 promising & super early AI tokens all below $100M mcap.

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Valkyrie New Offering - Another Fund Joins The Ranks

At a glance 🔎

• Valkyrie has launched a new Bitcoin-leveraged product.

• The fund is called the Valkyrie Bitcoin Futures Leveraged Strategy ETF (BTFX) and will operate by investing in Bitcoin futures aiming to provide 2x the daily performance of a Bitcoin futures index.

• CIO of Valkyrie, Steven McClurg, stated that the “fund is designed for those who see beyond the horizon of traditional investments, offering a strategic tool to capitalize on the volatility and growth prospects of Bitcoin”

🕵️ Scoops take: 

A real win-win for investors - we are not only seeing more legitimate funds to stabilize the recognition (despite Nigeria’s best efforts) but there is now an opportunity that caters for the prudent and the adventurous.

Offering higher returns in the bull run is extremely tempting but be aware of the potential volatility before you go wild.

Of course, 2x leverage might be tame for some of the Degen traders but this is a market that is apparently about to become saturated so liquidity is key.

Trade wisely.

UK Stablecoin Deadline - A Pivotal Decision For A “Crypto Hub”

At a glance 🔎

• The UK Government are working extremely hard to pass crypto-specific legislation.

• The country is set to hold an election later in 2024 and with the Labour Party leading in the polls, they hold a much less favourable cyrpto view.

• Users will still be able to use Coinbase Commerce if they have an account with the exchange.

• The Government has set a 6-month deadline for final rules and implementation by early 2025 (which goes against the election prediction)

  🕵️ Scoops take:

This law will have huge ramifications for the rest of the world so whatever is decided is important.

With one of the largest economies in the world and the desire to be a Crypto hub, it is expected that many others will follow suit.

That being said, the UK has been over-promising and severely under-delivering on all things Crypto so far so we aren’t holding our breath for now.

Keep an eye out though as this will shape the future.

🏆 WEEKLY WINNER🏆

Eigen Labs

Eigen Labs, the developer behind restaking protocol EigenLayer, has raised $100m from A16z Crypto.

The process of restaking is where Ethereum tokens that are deposited or staked as security for the main blockchain can be repurposed to secure additional networks and protocols.

EigenLayer has yet to formally launch any of its actively validated services but they are expected to launch later this year.

Bringing in that kind of funding is remarkable given that none of the services have launched.

😡 THE REKT SECTION 😡

The SEC

Top SEC crypto lawyer, Ladan Stewart, has left his role to join a pro-crypto firm.

Like losing your girlfriend to the high-school bully, things just go bad to worse for the SEC.

We can’t say we will lose sleep over this one.

Feast your eyes on the delights, surprises & Alpha below.

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