Bitcoin ETF Awakes the Market
Market sentiments as ETF draws near
The crypto world never sleeps, and neither do we! Let's dive into the 40th edition of the Gems Corner with updates on ETFs and Airdrops.
Institutional interest in cryptocurrency will remain high regardless of the SEC's decision on the BTC-ETF. - Kevin O'Leary
The most ‘anticipated’ year in crypto is finally here - 2024. It’s a bullish year for crypto for so many reasons, but here are some of the vital ones:
Bitcoin & Ether spot ETF is in view
Bitcoin halving is around the corner (in about 90 days)
Presidential elections in about 40 countries (mixed sentiments)
Institutions are coming
Chinese meta is re-surfacing
Stablecoins payments are becoming a norm
Let’s briefly talk about Bitcoin spot ETF. If you’ve been following my newsletter for a while, you know why I’m bullish about Bitcoin ETFs. It’s simple, it will unlock institutional money into the crypto industry and facilitate mass adoption.
The first wave of approvals of Bitcoin ETF filings was supposed to have taken place last December, but it was delayed to January 10, 2024 (5 days from today).
Speculations are high, and there are rumors that multiple (BlackRock inclusive) Bitcoin ETF filings will be approved at the same time. In speculation of the approvals, some fresh wallets were seen buying the dip of $BTC yesterday. Are you well positioned?
Bitcoin Ecosystem Bubble
Still in anticipation of Bitcoin ETF, the Bitcoin ecosystem has been experiencing an increasing wave of volumes and highs. From Bitcoin DeFi to Ordinals, the bubble is touching them all.
As of writing, Bitcoin flipped Ethereum in fees in 24-hour, 7 days, & 30 days volume, which is quite strange historically. Additionally, the BRC-20 token category, which is the default category for Bitcoin ecosystem tokens did a whopping 74.9% increase, with several of its tokens hitting back-to-back ATHs.
That’s not even all. A Bitcoin ordinal collection usually likened to Bored Apes called NodeMonkes started trading recently at a floor price of 0.28 $BTC. First time in a while we are seeing an ordinal collection at such a floor price, indeed the grounds are shifting.
An easy way of gaining exposure to the Bitcoin ecosystem is through staking. You can do this by staking STX, the native token of Stacks on StackingDAO. This platform is giving us early Jito vibes and might likely do a huge airdrop as they already have a pointing system.
Stake on Stacking DAO here
It’s Raining Airdrops
As the market rebounds, many projects are gearing up to launch their token in Q1 2024, to benefit from the market. As part of the launch, most projects will be airdropping their early supporters with their native tokens.
We have started seeing a rain of airdrops already as Dimension, Xai Games, and Saga have already announced their airdrops. To enable you to take advantage of the subsequent ones, I’ll list some of the top airdrops I’m farming in the next section (some have my ref links).
Alpha Bites and Tweets
Join the Quest for Embylist - link
Trade or Lp on HyperLiquid - link
Restake on Renzo for EigenLayer points - link
Deposit on Manta Network using any of the links - 1, 2, 3, 4, 5, 6, 7 & 8
Stake TIA, OSMO, ATOM, and INJ on Keplr - link
Trade and create positions on Ekubo - link
and much more.
That’s a wrap.
Thanks for reading!
Until next Friday,
Viktor DeFi.
PS: I’d love to hear your feedback and comments.
VIKTOR, why did it take you so long to write this article? Don't you write this regularly?
I liked your writing so I kept waiting. I was curious because you've been active on Twitter but not on substack.