Buckle up. We are running this back turbo

SCOOP’S TL;DR

📈 MARKET SENTIMENT

  • Well, Buckle up folks. We are here. It’s what we’ve all been waiting for. Bull season. Bitcoin has had a Monstrous run and hit nearly 64K. Just 8% off Breaking ATH this year. ETFs are scooping up over 10X more Bitcoin a day than is being produced, and after April, this supply of new Bitcoin being produced is half. Boomers are buying our bags.

🔥 THE TRENDING NARRATIVE

  • When Alt Season Part 2

🏋️ BARBELL’S WEEKLY PICK

  • $KUJI - KUJIRA

🗞️ TOP STORIES

  • Gemini Refund

  • U.S Government Transfer

  • New Uniswap Tool

🏆 WEEKLY WINNER

  • Coinbase

😡 REKT SECTION

  • Nigeria

💎 PREMIUM SCOOP

PNG. Line Break - Triple Scoop
  • Crypto Total Market Cap $2.4T - 24/hour change 1.1%-

  • Crypto 24-hour Total Volume $111B - 11%-

    • Majors - 24/Hour change

    • BTC - $61,995 - 0.1%-

    • ETH - $3454 - 0.2%-

    • Well, Buckle up folks. We are here. It’s what we’ve all been waiting for. Bull season. Bitcoin has had a Monstrous run and hit nearly 64K. Just 8% off Breaking ATH this year. ETFs are scooping up over 10X more Bitcoin a day than is being produced, and after April, this supply of new Bitcoin being produced is half. Boomers are buying our bags. The Crypto industry has gone from a basement dweller’s experiment to becoming Wall Street’s favorite asset.

    • As The Bull Market unfolds, try not to fuck with your bags too much, chasing green candles is never a good strategy. Attention ebbs and flows in the crypto market. Your bag may not be pumping now, but if it has solid fundamentals, team, tokenomics, and sits within a trending narrative, exercise some patience.

    • If you haven’t already, make an effort to align your bags into AI, Gaming, & Depin. Oh and of course memes.

    • Given the ETF inflow, Bitcoin could easily still run from here, though we hope it decides to cool down from now, and let ALTs run. We are already seeing signs of this, AI coins & MEMEs are the talk of the town right now. New OG memes and old are mooning hard.
      Given the attention on Memes right now, we do imagine this being a local top signal before a retracement, shaving profits here is not a bad move. Whilst we believe we have the meat of the cycle left.. (It’s crazy that we are still pre-halving levels)…it is likely a pullback & flush will come. Remember though they will happen fast & get swallowed up quickly.

    • Bitcoin/dominance

    • Bitcoin’s had a crazy week, it had crypto Twitter on the edge of its seat, with most thinking we are about to blast through ATH. Given the inflows seen in ETFs, It is likely we could see a $BTC ATH before halving. In terms of dominance & how it affects ALT season, It feels like a slight push-up more with dominance, and once that drop comes the real ALT season will take hold.

      Ethereum

    • The success of the Bitcoin ETFs is certainly going to paint a bright picture ahead for the upcoming ETH ETF decision. Approval or not

      ALTs

    • More of the same, 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.

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

wEn aLt sEaSon? - PART 2

“Bitcoin is sucking all the liquidity, Bro, I’m worried ALT season won’t happen…this time it’s different cuz of the ETFs”

Well, yes, it is kinda a different this time, the fact that Bitcoin is pushing all-time highs before halving and the crypto world has a shiny new toy called an ETF which has opened the floodgates for capital to flow into Bitcoin specifically.

You may have noticed recently that some crypto folk have become concerned that ALTs won’t receive the same capital flows as previous cycles because capital is tied up in ETF’s.

Below is how we see the biggest Alt season of our lives taking shape and it goes something like this…

So we’ve got this new Bitcoin ETF stealing the spotlight, but guess what? The market's mojo remains intact, scoop family.

Now, here's the scoop: While some degens think every Bitcoin move is thanks to the ETF, they forget about the activity taking place on the exchanges. Yep, exchange activity is heating up and still makes up for a large portion of the Bitcoin held, bought & trading volumes, it is not just the ETF folks playing the game.

Regular degenerate Investors outside of the ETF’s flows jump on the Bitcoin bandwagon, riding that wave until they've had their fill. But when Bitcoin's party starts winding down, naturally like every other cycle, those altcoins are like they're the last slice of pizza at a party.

And guess what? After Bitcoin breaks its old ATH record, it's like a starting pistol for the altcoin marathon. We're talking about a big shift in dominance. More capital will start flowing into those altcoins faster than you can say, "Moonshot!"

But wait… You’ve seen Dumb Money right? If you haven’t, watch it.

Cue the drove of retail. Once Bitcoin skyrockets past ATH, you know what's coming – a media frenzy! Suddenly, every news outlet is hailing Bitcoin as the next big thing since sliced bread and retail investors are lapping it up like there's no tomorrow.

But here's the kicker: Instead of chasing Bitcoin's meteoric rise, these retail traders start playing a different game. They aren’t interested in owning 0.01 BTC, they start tossing their hard-earned cash into every low-value project they can find, dreaming of hitting the jackpot with every penny they've got.

Remember those conversations from 2021?

"Hey, bro, bought 5M BONK with 500 bucks! I'm gonna be a millionaire when it hits a dollar!" Yeah, those conversations will make a comeback.

And let's not forget the golden rule: Retail investors might talk a big game, but it's the market makers pulling the strings behind the scenes. They're the puppet masters, luring in the unsuspecting with promises of riches beyond their wildest dreams.

So, buckle up and grab your popcorn because the altcoin circus is about to begin! It's a wild ride filled with twists, turns, and more drama than MTV. So sit back, relax, and enjoy the spectacle unfold.

🏋️ 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_

Project - Kujira - $KUJI

Chain - Cosmos

Marketcap - $530M

Tokenomics - 70% diluted

Risk - 5/10

Where to buy? - MEXC centralised exchange.

Strategy - $KUJI has been consolidating for some time, but is on the verge of a major breakout. With Total Value Locked at all-time highs and nearly hitting 250M dollars, this token feels undervalued. It is a safe play for the portfolio with an active community.

Scoop’s take

Kujira, is a layer 1 ecosystem on Cosmos, just like our good friend Injective. The project prides itself on providing products & services that support beginners to become proficient crypto players. The name Kujira is "whale" in Japanese, which mirrors their mission to nurture and empower newcomers. Cosmos is gathering serious attention & Layer1’s are known typically to do well in bull cycles.

Kujira already has a thriving ecosystem, offering a diverse range of revenue-generating products, channeling proceeds back to $KUJI stakers. Smart contracts are launched through a governance-backed process, ensuring a semi-permissioned environment.

Why are we bullish on the $KUJI token?

  • Robust Growth in Total Value Locked (TVL): $KUJI has Witnessed a surge from $12 million to a peak of $220 million now, indicating a strong influx of liquidity and heightened interest.

  • Expanding Community: with over 80,000+ addresses within the ecosystem, it indicates a growing community. The recently introduced the user-friendly Sonar wallet which encourages users to shift from exchanges to allow for staking, which helps in reducing selling pressure.

  • Diverse DeFi Products: Kujira's ecosystem encompasses a wide range of DeFi products, showcasing a comprehensive and interconnected platform.

  • Strong Tokenomics: With a maximum non-inflationary supply of 122.4 million and 62.8 million staked, there's potential for significant price appreciation.

  • Innovative "Revenue Sharing": This feature adds attraction for holders of the $KUJI token, as the ecosystem grows, holders directly benefit from its growth.

  • Under the radar - $KUJI is yet to be launched on popular exchanges, so right now it isn't available to the masses.

  • New token - The Token has only been live since early 2022, which again means there is not a tonne of bag holders who are underwater waiting to dump on you.

🌐 TOP STORIES

Gemini Refund - A Victory For Customers

At a glance 🔎
  • Crypto exchange, Gemini, has agreed to return $1.1bn to customers of the Gemini Earn Program through the Genesis Bankruptcy proceedings.

  • Earn users are set to recover 100% of their assets plus appreciation on top.

  • 97% of the assets should be recoverable within 2 months.

🕵️ Scoops take:

A huge W for the Earn customers who almost accepted their fate.

What is hugely important to take from this is that the funds being returned are actually in the $1.8bn valuation which is $700m more than when Genesis halted payments due to the current value.

Another massive positive is that back in October, when Gemini sued Genesis and it appeared the average Joe was on the backburner for any returned sums.

With the backburner only lasting 4 months, it’s power to the people!

U.S Government Transfer - Suspicious to say the least

At a glance 🔎
  • Wallets holding Bitcoin seized by the U.S Government from the Bitifinex hack have become active.

  • Almost $1bn has been transferred from wallets in the case to unidentified addresses.

  • The motive or purpose is unknown.

🕵️ Scoops take: 

Legitimate law enforcement activity or the Government wanting to get in on the gains?

As we saw with the Nigerian government last week, there needs to be some concern over how the Governments operate, especially as the space grows.

Whilst the bull is out here making Degen millionaires, the Government wont want to sit back and miss out on the action.

It just goes to show we are doing things right, no-one wants to miss out.

PNG. Line Break - Triple Scoop

New Uniswap Tool - The customers keep winning.

At a glance 🔎
  • Uniswap has launched three new tools with the purpose of facilitating easier Crypto transfers.

  • The first is Uniswap Extension, which is a wallet extension inside a browser sidebar that streamlines swapping digital assets, signing transactions and trading crypto.

  • The second is limit orders, which will automatically execute a transaction when a token / coin reaches a certain price.

  • The last is Data & Insight pages displaying charts, data, transaction logs and other stats for traders.

  • Limit orders and Data & insight launched this week.

  • To get involved, users must join the Uniswap extension waitlist by claiming a uni.eth username and then access will be provided in 4 to 6 weeks.

    🕵️ Scoops take:

As night follows day, the bigger we get the better for everyone.

Providers are continuing to increase their output to users to ensure they retain the market share of the custom.

The main winners here are of course the customers where it feels like Halloween with all the free candy being dished out.

There are now so many options for all things regarding crypto services, it is almost getting to the stage where there is too much choice.

This is never a bad thing just make sure you tailor your needs to the right provider.

PNG. Line Break - Triple Scoop

🏆 WEEKLY WINNER🏆

Coinbase

Just like we said above Retail is coming and fast.

There is no better example of this than this week’s winner Coinbase who are reeling in the benefits of the retail investors like a fishing rod with unlimited bait.

Their ranking on the App Store has rocketed as follows:

February 25th: 445

February 26th: 422

February 27th: 345

February 28th: 252

February 29th: 128

Just watch out because there is going to be money flying in all sorts of directions into any pretty much anything and everything.

An easy W for Coinbase who will love the media frenzy.

😡 THE REKT SECTION 😡

Nigeria

Fresh out the station with the crypto block, Nigeria has continued with it’s barbaric crypto view.

Nigeria has detained Binance executives as it continues to investigate the exchange.

Two executives were pinched by Nigerian officials and had their passports seized upon landing in the country.

This all leads to Binance not having permission to operate in the country.

No charges have been made yet but there is rumours that the two will face allegations of currency manipulation, tax evasion and illegal operations.

It is safe to say Nigeria will not be a crypto hub of the world.

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