Todays Top Stories

Editor: @GreenCandleJack

Tether FUD is Back

Yesterday, the infamous Tether FUD made a temporary return to the crypto drama series as a guest star. It’s a familiar sight for any seasoned crypto investor, bringing with it a small but recognizable flash crash. How things change, yet stay the same.

It all started with the news featured in this tweet—take note of the timing.

Of course, this isn’t the first source of such news, and insiders usually hold the biggest bags. So, take a look at the chart below and the timing. A wonderful coincidence, right? It’s good to have you back, Tether FUD.

Luckily, it soon turned out to be exactly that—just FUD, according to Tether’s founder, Paolo Ardoino.

So, for now, we can all rest assured that Tether is back in the box. But we’ll see you next time, I’m sure.

Did you know Paolo Ardoino is a fan of OP_CAT, by the way?

Daily Alpha | $ZAAR Launch Nuked

The much-anticipated $ZAAR launch yesterday did not go as many had hoped. The token dumped shortly after its release. What made it more painful was that many people were unable to claim their tokens because the claim site got overloaded. While there were allegations that the team might have been selling, there are many other reasons why a new token might dump upon its listing.

This pattern is, unfortunately, common with tokens that undergo massive pre-launch farming campaigns. While I can’t say for certain if that’s the case here, it’s well-known that professional farming groups often operate on an industrial scale with the sole intent of selling immediately upon release.

Furthermore, while being listed on a centralised exchange (CEX) is often seen as bullish, it’s speculated—and in some cases proven—that CEXs sell newly listed tokens to fund their own operations.

And, of course, with so many recent unsuccessful launches, listing dumps have become a self-fulfilling prophecy in an industry that lacks trust and conviction that prices will see positive action in the first weeks or months. As a result, many regular holders rush to claim their tokens (as evidenced by the broken claim page), just to be sure they can sell if things go south. This creates a domino effect, where the moment some sell, the avalanche begins.

These theories surrounding $ZAAR are not proven, but are based on my experience as a professional tokenomics and ecosystem designer. The truth will likely come to light when blockchain detectives investigate. Regardless of the reasons for the dump, it’s essential that the team uses the $2M they raised in their seed round to build a successful business, with a strong revenue model and a tokenomics system capable of capturing (some of) the value it creates.

Let’s hope they succeed in this endeavor.

Daily Alpha | The amazing “disappearing” Satoshi statue was unveiled in Switzerland.

Earlier this morning at the 3rd Annual Lugano Plan B Forum in Switzerland, the Plan B Initiative—a partnership between Tether and the city of Lugano—unveiled a statue paying tribute to the anonymous creator of Bitcoin.

The Plan B Forum also hosted an amazing Drone Show last night of the Lugano nights sky.

Daily Alpha | “Can devs Vitalik do Someting?”

Daily Alpha | Gizbot v1.01 loading…

But what does it mean!?

Daily Bites

Todays Markets

Chart of the Day by @CryptoLandy

WATCH: Friday Wrap-Up: Bitcoin TA -Are We There Yet? 10/25/2024

Ordinals

After topping the chart yesterday, Insurgence by Debauchery saw a 72% drop in volume—a typical dip for the third day post-mint. On the bright side, the floor remains steady and has even climbed 15%. Once we’re out of this current lull, this collection has a solid chance not only of sticking around but of rising sharply, as those involved with the project continue to work hard and have built a strong community.

Elsewhere, the usual suspects hold steady at the top, with Based Angels clinging to third place.

A new mint, Pooka the Dog, has entered the fray in sixth place. This collection is a spin-off of the Rune, which launched earlier this month, stirring debate within the OMB community on whether it’s “legitimate” or not. Time will tell on that one.

Quantum Cats, OMB, and Bitcoin Frogs are among the top 10 as usual, while the older collection Full Moon Ordinals has broken in—perhaps one to keep an eye on.

Runes

A mixed bag today for the top 5: Pooka, BDC, and Gizmo all make slight gains in an uncertain market, while DOG drops slightly. However, it’s nothing too worrying for holders after a solid recent run-up.

The real story is Runes’ first AI coin, Cypher Genesis, which suffered the most this Saturday, dropping 28.5% and going under the 2 sats mark. This decline has left many minters in the red. While some of the drop could be due to poor market conditions, it wasn’t helped by the launch of a Solana shitcoin at the behest of its recommendation. That didn’t seem to go down well with holders.

The bottom half of the top 10 shows less excitement, as four of the five collections remain relatively stable, keeping pace with the rest of the market. As noted earlier in the newsletter, Ordzaar faced challenges with their launch; however, with a market cap of $6.62 million, it could be much worse when compared to recent launches, and there’s a real team behind it so the story is far from over here.

With only a bit of “Uptober” left, does the market still have gas in the tank?

Todays Opportunities

ExtraOrdinals Whitelisted mints this week

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

Giveaways

Currently, there are no active raffles ongoing. However, more giveaways are expected soon, so join the Discord below and make sure you have notifications on so you don’t miss out when the next ones go live!