Todays Top Stories

Editor: @PhoenixxDown

Bybit, BOB, and Bear Market Fears: This Week’s Highlights

For the 8th installment of XO Weekly, we had the pleasure of hosting Zhixi (Nikki) from BOB, who took us deep into one of the most promising Bitcoin Layer 2s in the space!

Nikki was a phenomenal guest, answering every question with precision and insight. Her foresight on why Bitcoin DeFi is primed for an imminent breakout was compelling—there’s no doubt BOB is set to play a major role in that future.

We also had a surprise last-minute addition: Null Ptr. And what an addition it was. He walked us through some of his trading strategies, shared insights on how he incorporates moon cycles into his trading, and had a great back-and-forth with Landy about the market’s current state and where we might be headed next.

If you couldn’t make it live, catch up on everything here.

And for those who did show up—it literally paid to be there. Attendees received an extra allocation for BOB’s airdrop, on top of the one all XO holders get!

If you’re not tuning in yet, make sure you’re there next week!

And now, here’s a quick round up of the weeks headlines:

Monday: Bybit Hack Exposes Major Flaw

Bybit was rocked by a massive $1.4 billion hack, exposing vulnerabilities in its multisig wallet system. Attackers exploited malware to manipulate the transaction interface, fooling Bybit’s security team into approving the theft of 401,000 ETH.

This breach highlights the importance of verifying transactions, using hardware wallets, and remaining cautious against phishing attempts.

Tuesday: Crypto Market Faces Extreme Fear

The crypto market experienced a dramatic plunge, with Bitcoin falling below $90,000 and altcoins crashing by up to 30%. The Fear & Greed Index hit "Extreme Fear," echoing the panic from past crashes like the 2022 FTX collapse.

Despite the chaos, veteran traders urged patience, reminding investors that market downturns often signal the best buying opportunities.

Wednesday: Black Eyes Mint Defies Odds

Ordinal Maxi Biz's "Black Eyes" collection minted out successfully, raising over $7 million despite a tough market environment.

Despite concerns about liquidity and market sentiment, the collection saw strong secondary market activity, with prices rising and trades surging. This demonstrated that top-tier Ordinals projects can thrive even amid broader market turbulence.

Thursday: Lunar Cycles: Market Mood Shifts

The influence of moon cycles on financial markets was explored, with discussions on how lunar phases might correlate with market sentiment.

Data suggests that full moons tend to bring market volatility, while new moons may offer buying opportunities. Traders are keeping an eye on the upcoming full moon on March 14, which coincides with Mercury retrograde and could signal increased volatility.

Friday: BOB Brings BTC to DeFi

BOB, a Bitcoin Layer 2 solution, continues to gain attention for its ability to bring Bitcoin into DeFi without sacrificing security.

With over $250 million in TVL and the launch of the "BOB Rise" incentive program, Bitcoin holders can now earn yield on their BTC. BOB’s integration with Ethereum’s DeFi ecosystem positions it as a game-changing innovation in the crypto space.

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Todays Markets

Catch up with Landy in yesterday’s Friday Wrap-Up:

Ordinals

Volume on OMB remains strong, even several days after the Black Eyes mint, with nearly 4 BTC traded in the past 24 hours. While they've dipped slightly below 0.03 BTC, they haven't gone much lower than 0.026 BTC even right after the mint. This seems to be a solid floor for the collection until more news or speculation kicks in.

Based Angels has moved into 5th place today, with 36 sales and a 10% increase. However, it still struggles way below the 0.01 BTC range. If the market sentiment continues to improve, we could see some rapid movement here.

Similarly, Natcats is seeing a similar pattern, but staying close to 0.01 BTC and frequently mirroring Based Angels in terms of activity. It would be interesting to know how many wallets co-own these collections—much like you can check on Ethereum. Who's building this?

Runes (Bitcoin Memecoins)

Today, the spotlight goes to OdinFun—and for good reason! The price action on this platform is crazy right now, with OdinDog surpassing a $20 million market cap. Huge congratulations to the early buyers in XO who were all over this. Meanwhile, OdinCat, the beta play, is already touching a $4 million market cap.

There are many other tokens vying to ascend, and it looks like OdinFun could be the place to be for the forseeable—providing there are no major shocks in the wider market.

With OdinFun doing so well, the spotlight has shifted away from the OG Runes. Is there an opportunity here?

According to XO Scout, Glatczar, yes. He shared his thoughts in The Inner Circle earlier today, and I completely agree. While OdinFun dominates the current attention, there are bargains to be had with the long-established Runes.

If OdinFun continues its strong performance, it's likely to bring more focus back to this entire ecosystem. A rising tide lifts all boats, after all.

$CYPHER is also seeing a strong performance today, up 32%. As we mentioned a few days ago, it reached levels that seemed unimaginable, and savvy buyers have capitalized on that opportunity.

Which Runes do you think are undervalued and poised to recover next? Let us know your thoughts on X.

Todays Opportunities

Giveaways

There are currently no raffles taking place today, but check back tomorrow for what’s next so you don’t miss out.