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Daily Brief

Wall Street Whisperer?

gm Bankless Nation, Crypto's oldest asset manager is shipping like it's bull market season. Where are they placing their bets?
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Aug 22, 2024 β€’ 3 min read
Wall Street Whisperer?
Published on Aug 22, 2024
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NEED TO KNOW
Trump's DeFi Play
  1. πŸ“£ Donald Trump Pitches Sons' 'Digital Real Estate' Project. Trump looks to onboard his Truth Social followers to 'The DeFiant Ones' crypto project.
  2. πŸ’° Magic Eden Makes $ME Token Announcement. The NFT marketplace goes where OpenSea hasn't gone yet.
  3. πŸ”οΈ Grayscale Unveils AVAX Trust. Avalanche lands its own Grayscale Trust product.
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MARKET VIBES
Sixty Thousand Slump

πŸ“Έ Daily Market Snapshot: BTC is continuing in its weeks-long journey to crack $62K. The asset started the month with a grim slide from $70K to $50K, but its rapid recovery has languished in frustratingly consistent middling price action for the past two weeks, leaving investors wondering what the next big catalyst could be.

Prices as of 5pm ET 24hr 7d
Crypto $2.14T β†˜ 0.8% β†— 5.9%
BTC $60,438 β†˜ 0.9% β†— 6.4%
ETH $2,622 β†˜ 0.7% β†— 2.9%
KMNO $0.044 β†— 4.0% β†˜ 6.6%

πŸ’«
New Token Rating: Kamino TVL may be approaching all-time highs in dollar terms, yet token price remains 60% off its ATH. Is it finally time for KMNO to play catchup?
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ANALYSIS
Grayscale’s Bull Market Bets
Bankless Author: Jun

OG crypto asset manager Grayscale has been awfully busy lately.

When Grayscale announces a new Trust for a particular asset, the market often reacts with a mix of excitement and skepticism. It's a bit like a double-edged sword: a signal of saturation for some and a beacon of hope for others.

What assets have caught their attention lately? Let's find out. πŸ‘‡


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GO BANKLESS
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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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