SCOOP’S TL;DR

📈 MARKET SENTIMENT

• Expect to see some boring sidewise chop for Bitcoin in the coming weeks. The 4th Halving is done! And once again Bitcoin has become ever more scarce. We will likely need to see the dust settle post-Bitcoin Halving for the market to spice up again.

🔥 THE TRENDING NARRATIVE

• CAT Coins.

🔥 BARBELLS WEEKLY PICK

• $SOL & $PEPE

🗞️ TOP STORIES

• Bonkkiller $290 Trilion Market Cap

• Lazarus Group Launders Over $200m

• Trader Loses $70m

• Robinhood Wells Notice

🏆 WEEKLY WINNER

• Phantom

😡 REKT SECTION

• $COOL

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  BREAKING

  THIS IS HUGE! $100B asset manager VanEck launches Memecoin Index!

  

  CRYPTO FEAR & GREED INDEX

• Crypto Total Market Cap $2.29T - 24/hour change 4.82%

• Crypto Market Cap Total Volume $116B - 24/hour Change - 1.3%

  Majors - 24/Hour change

  • BTC - $62,200 - 0.01%

  • ETH - $2989 - 0.01%

  • Yup, it's a choppy time. But try not to overthink it, or stress.

  • The market is going through a brief period of up and down, side to side. The market is going through the motions of “it’s so over” to “We are so back” and back again.

  • But let’s look at it on a wider macro level.

  • We are moving from Crypto Spring into Crypto Summer.

  • How do we know that?..

  • It’s an election year, which means that the US can’t let the economy sink, they will artificially prop the market up in the lead-up to the election. If the S&P500 is propped up, it will also prop up the crypto market.

  • In combination with election year, the M2 money supply has just turned positive, (the amount of liquidity & cash in the system). This is big.

  • Why does this matter? The price of Bitcoin largely follows the M2 money supply. As the M2 money supply expands, the price of Bitcoin & the Crypto market goes up, and the M2 money supply contracts the price of Bitcoin & Crypto market goes down.

    

    M2 Money Supply Flipping Positive

  • On top of that, the market is following the market psychology graph as seen below almost to a tee.

  

  • If you are feeling stressed or anxious with the market right now, be rest assured there are huge reasons & catalysts to be round the corner which will leave the bears licking their paws. Hold tight.

  • Bitcoin/dominance - 54%

  • Bitcoin’s dominance has last it’s positive trend. It is still strong for now, but Alt coins have held up better than expected with the market correction.

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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)

• - 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?

MEMES - IT’S BEEN RAINING CATS. ARE THE DOG DAYS OVER?

The Race is on for the cats to a billion dollars

Over the last few weeks, CAT coins on Solana have leapt out of the charts & challenged the Dogs with gusto. They say history doesn’t repeat itself, but it often rhymes. The last cycle was paved for the Dogs, but is 2024 the year of the Cat?

We have already discussed the success of $POPCAT, it is now a smart money favourite, and it is being discussed heavily on Twitter by KOL’s bullish memes. $POPCAT has been pipped as the current favourite for the first CAT coin to a billion $ market cap. We can’t believe what we are writing this sometimes.

But when a winner rises, challengers come about equally as fast to eat the lunch of the market leader. So far there have been a few. We love to see that our favourite from a few weeks back Shark Cat $SC has risen from the ashes. Fighting off adversity and securing its IP rights, the Shark Cat community has certainly been through the wringer. As we have discussed before meme communities must demonstrate the ability to survive FUD attacks & price crashes. The longer a coin survives the more chance it has at longer-term growth & attention. Shark Cat now holds a healthy market cap of around $180B billion market cap, Which is roughly a third of $POPCAT’s.

Another CAT which is certainly pulling in the mindshare of the market is $MICHI. $MICHI is a top smart money favourite on Solana, it’s a picture of a cute cat, but it is being dubbed as the infinity meme… $MICHI allows the community to infinitely customize pictures of the $MICHI cat which is now being used in community member’s profile pictures, much like what we saw in the NFT craze back in 2021. It is certainly driving attention. $MICHI sits at $100Mcap.

The final very small contender is called $MINI. If you remember Banana Cat & Apple Cat coins? Well, it was a variation of a cat known as $MINI, which has now been turned into a coin. The market cap is quite literally mini, sitting at just $8.5M. $Mini is a wild card. and feels quite like a rip-off of $MICHI, given its variation of a cat. But it seems more forced than $MICHI, given it was certainly the second player to market.

So which Cat will reach a billion dollars first? To be honest, the clear winner was $POPCAT at first, but the new contenders are certainly stealing the kitty’s lunch.

We see $POPCAT as somewhat of a cat version of Doge this cycle and whilst the race will be tight. We think $POPCAT will win the race to a billion-dollar market cap.

That being said, Smart money is loving $MICHI, $POPCAT & $SC all at once, so it is likely all three will do well.

As we said earlier, history doesn’t repeat itself but it often rhymes. So will this year, be the year of the Cats? Of course, Dog coins will do well too, but the growth potential & upside for cat coins may surprise many.

🏋️ 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_

This week’s picks are simple and easy and I am fairly confident the assets will deliver a clean 5X multiplier this cycle.

Both projects hold sizeable market caps and have stood the test of time.

Solana

Marketcap - $66 Billion

Narrative - Layer1

Barbell’s Take

The last cycle was centred around the explosion of ETH & the adoption of the chain. Each cycle traders move further and further out of the risk curve. First, we had the parabolic growth of Bitcoin, then we had Ethereum, and this cycle, it’s Solana’s turn. Not only is Solana next in line but it has been chosen by retail as the chain of choice. It is no secret that Memes are a major category this cycle, especially for newcomers. Where is the Meme’s favourite home? Solana.

I believe Solana is an easy 5X multiplier. The chain has proved itself against adversity from the associations with FTX & SBF, and you can be fairly confident that until the bear market comes this beast of a chain will recover from market drawdowns.

$PEPE

Marketcap - $3.1 Billion

Narrative - MEME

Barbell’s Take

A cycle of Memes wouldn't be complete without the King of Frogs. There is going to be a monster meme on ETH despite the favourite meme chain being Solana. $Doge is the king, but the upside growth is capped. Depending on how big the cycle gets, we estimate anywhere from $6 to $9 Trillion, if this is the case, then it is likely we will see multiple memes over $100 Billion market, I am estimating this based on $DOGE hitting $90 Billion last cycle.

$PEPE the Frog is one of the biggest memes in existence. It’s the bedrock of internet culture, So if any meme had a chance at hitting the glorious heights of $DOGE’s previous ATH, then it’s $PEPE.

Yes, that would be a 30X from here, but let’s keep our degens hats on for now. To buy and hold, this thing can easily rip a 5X multiplier.

Bonkkiller $290 Trillion Market Cap - There Is A Catch.

At a glance 🔎

• Solana Memecoin Bonkkiller has reached a marketcap of over $100 Trillion.

• There are only 1000 holders.

• The MC is so high due to the Dev freezing token holders’ accounts and preventing sales.

• For context, the total amount of money in the world is estimated to be around $82 trillion.

🕵️ Scoops take: 

We will save you the DYOR…DO NOT BUY THIS TOKEN

The token cannot be sold and some of the unlucky 1098 holders are in theory sitting on billions of dollars worth of unrealized capital gains.

If you buy this token thinking it’ll unfreeze then good luck to you but do not say you weren’t warned.

This is a classic playbook of a Honeypot Scam.

Lazarus Group Launders Over $200m - On-Chain Investigator Finds.

At a glance 🔎

• Crypto Investigator Guru, ZachXBT carried out the research.

• He found that North Korean hackers, The Lazarus Group, laundered $200m in stolen crypto funds.

• The $200m comes from 25 different Crypto hacks from 2020 to 2023 with the funds being converted to Fiat.

• The group laundered the funds through mixers and exchanges and identified P2P marketplaces where crypto could be cashed for fiat.

• $3.7m remains frozen.

🕵️ Scoops take: 

As we fear, the bigger the space gets the more hacks we will see.

The Lazarus group (active since 2009) has been a stain on the industry for years yet they never seem to go away.

It is positive that $3.7m has been frozen for the hopeful safe return, however, this resembles only 1.85% of the stolen sum.

Annoyingly, as soon as the Crypto becomes Fiat, tracing it then becomes almost impossible.

You can check out the report here.

Trader Loses $70m - The Ultimate Scam

At a glance 🔎

• A Crypto Trader lost $70m from an address poisoning scam.

• A spoof account was created for the funds to be sent to the fake addresses.

• Blockchain security firm, CertiK, confirmed the transfer of $69.3m Bitcoin to an address linked with address poisoning.

• The victim’s wallet now shows a loss of 97% of its assets and is currently worth $1.6m

• The stolen funds were traded for 23,000 ETH and then transferred again with no sign of reimbursement (at the time of writing)

  🕵️ Scoops take:

With scams, $4bn was the total cost to investors last year, and that number looks like an unfortunate benchmark that could be reached again.

There are only so many times you can take a warning before becoming a statistic.

It gets to the stage where common sense needs to prevail and if it doesn’t just apply the mantra of trustring no one!

With retail investors coming in their numbers, expect plenty of more scams on the horizon.

Bonkkiller $290 Trillion Market Cap - There Is A Catch.

At a glance 🔎

• Solana Memecoin Bonkkiller has reached a marketcap of over $100 Trillion.

• There are only 1000 holders.

• The MC is so high due to the Dev freezing token holders’ accounts and preventing sales.

• For context, the total amount of money in the world is estimated to be around $82 trillion.

🕵️ Scoops take: 

We will save you the DYOR…DO NOT BUY THIS TOKEN

The token cannot be sold and some of the unlucky 1098 holders are in theory sitting on billions of dollars worth of unrealized capital gains.

If you buy this token thinking it’ll unfreeze then good luck to you but do not say you weren’t warned.

This is a classic playbook of a Honeypot Scam.

Lazarus Group Launders Over $200m - On-Chain Investigator Finds.

At a glance 🔎

• Crypto Investigator Guru, ZachXBT carried out the research.

• He found that North Korean hackers, The Lazarus Group, laundered $200m in stolen crypto funds.

• The $200m comes from 25 different Crypto hacks from 2020 to 2023 with the funds being converted to Fiat.

• The group laundered the funds through mixers and exchanges and identified P2P marketplaces where crypto could be cashed for fiat.

• $3.7m remains frozen.

🕵️ Scoops take: 

As we fear, the bigger the space gets the more hacks we will see.

The Lazarus group (active since 2009) has been a stain on the industry for years yet they never seem to go away.

It is positive that $3.7m has been frozen for the hopeful safe return, however, this resembles only 1.85% of the stolen sum.

Annoyingly, as soon as the Crypto becomes Fiat, tracing it then becomes almost impossible.

You can check out the report here.

Robinhood Wells Notice - SEC Are Busy Again

At a glance 🔎

• The trading platform, Robinhood, has been served with an enforcement notice from the SEC.

• The notice is related to crypto tokens traded on the platform.

• Wells Notices are sent when the SEC is planning to bring action against them.

  🕵️ Scoops take:

First things first, this does not mean that Robinhood is guilty of anything.

All they are guilty of is the removal last year of Solana, Cardano and Polygon from the platform…sh*t decision if you ask us!

Anyway, the SEC don’t seem to be going away with their heavy-handed approach so it is good to see Robinhood have said they will contest all potential charges and go all the way.

Regardless if you are a user, there is only one side of this fight you need to be on.

Power to Crypto.

🏆 WEEKLY WINNER🏆

Phantom

The Crypto wallet has reached a very impressive milestone.

They just hit 7m monthly active users.

For context, this is a 118% increase from 3.2m monthly active users in January 2024 and a 600% increase from 1m monthly active users in early 2023.

An amazing achievement and a worthy winner!

😡 THE REKT SECTION 😡

$COOL

A very controversial token launch from the Coolman’s Universe team has been riddled with fraudulent activity.

Lookonchain has identified a “sniper/insider” who has dumped tokens on unsuspecting investors.

The insider managed to pocked over $1.68m in just over an hour, keeping hold of a huge portion of the token which, at the peak, was worth over $20m.

Check out the full details below.

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