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Are You Afraid of the Pump? $

gm Bankless Nation, Happy Halloween and Happy Birthday Bitcoin!
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Oct 31, 20232 min read
Are You Afraid of the Pump?
Published on Oct 31, 2023
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Sponsor: Kraken — Sign up for an account and see what crypto can be.

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NEED TO KNOW
Happy Birthday Bitcoin
  1. 🎂 Bitcoin turns 15. Satoshi shipped the bitcoin whitepaper on this day in 2008. BTC is celebrating the day well over $34K. Keep your birthday wishes to yourself, Gary.
  2. 👾 Celestia debuts. Modular blockchain Celestia went wide today along with its TIA token. 53% is going to insiders. Cosmos DEX Osmosis slowed to a crawl after a surge in claiming activity.
  3. 🆕 New Vitalik just dropped. Vitalik published "Different types of layer 2s" on his blog today breaking down a weave of L2 tradeoffs.

Prices updated at 4:00 pm ET 24HR
Crypto Market Cap $1.28T ↗ 0.4%
Bitcoin $34,589 ↗ 0.7%
Ethereum $1,812 ↗ 0.7%

📈 Yields up. Japan’s Central Bank is taking drastic action with bond yields to rein in inflation. We're feeling comfy with our ultra sound bonds at 3.2% yield.

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INVESTING
The Bear Take on Bitcoin’s Pump
Bankless Author: Jack Inabinet

This crypto market action is feeling good, a little too good given the macro factors surrounding it...

Today, Jack digs into the challenging macro environment out there, pulling out which aspects of the latest crypto pump feel sustainable and which do not.

Read all of the free alpha on our website 👇


FRIEND & SPONSOR: KRAKEN

Kraken is one of the largest and most secure crypto platforms in the world. They've been in the crypto game for over a decade, and now they're inviting us all on a journey to see what crypto can be.

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ALPHA OF THE WEEK
What We're Doing

Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.

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