Sahicoin Alpha: Bank of England has restarted the money printer ๐ด๓ ง๓ ข๓ ฅ๓ ฎ๓ ง๓ ฟ ๐ธ
Beginning of Englands Demise?, Could markets get worse?, SAFE airdrop live, some Intriguing Stats and News ๐ฏ, and more!
Welcome to Sahicoin Alpha, your one-stop destination for all Crypto Alpha ๐.
Newsletter Highlights โจ
Market Alpha โจ
Airdrop Alpha ๐ธ
A Few Intriguing Stats and News ๐ฏ
Notable Tweets โ๏ธ
Market Alpha โจ
Bank Of England(BOE) has begun to print money.
The Bank of England right now:
BoE just announced QE or Quantitative Easing, which means more money printing and inflation by the continuation of purchasing government bonds when they were just about to start QT or Quantitative Tightening, which means no money printing and increasing interest rates for loans.
This was the reaction: a sudden pump that was dumped on!
Live look at UK markets:
Hereโs a much better explanation of the topic
When we degen trade, we get liquidated, but when banks degen, the government saves them through a bailoutโฆ๐ฅน
The crazy part is this could spread on to other countries which are facing a similar economic situation.
(YCC means โYield Curve Controlโ)
To my understanding, England's action here is to further sacrifice the currency in order to save other sectors of their economy that were in danger of exploding due to the rising interest rates.
I know itโs too much to take in. Better to be like Cobie!
Things could get much worse:
(SPX is the US stock market index)
Haha, a new Do Kwon meme!
I bet Do Kwon would provide 19.5% interest rates on GBP if he were the head!
(Terraโs Anchor used to give 19.5% interest rates on UST deposits before the LUNA crash)
Meanwhile, in Russia:
US Intelligence already likely picked up Russia's intent to escalate the Russia-Ukraine conflict. Things are not looking pretty.
During volatile times like this, 0% performance is in the top 1% of performance. Know when to sit out. I know itโs difficult whilst young with a trigger finger.
This is precisely why Bitcoin exists, as a hedge against current monetary collapse.
Airdrop Alpha ๐ธ
Gnosis SAFE airdrop live
A Few Intriguing Stats and News ๐ฏ
1/ ChainLink(LINK) just announced they are now also a hedge fund that will own 3-5% of every dapp token supply ๐ฌ.
Well, not exactly, but it's kind of like that!
With the newly announced Chainlink BUILD, projects integrating with Chainlink and providing 3-5% of their token will get custom oracle services. These tokens will be distributed to LINK stakers!
Thread on it:
2/ Over 14 million ETH are now being staked on Ethereum. Thatโs over 11.6% of all circulating ETH. At current prices, that's over $18.8 billion securing Ethereum through Proof of Stake.
Also, at least 23% of Ethereum blocks are complying with US sanctions.
Post Proof of stake transition, Ethereum seems to have a validator censorship problem that is fuelled by monetary incentives.
Running mev-boost to return a higher yield for validators(similar to miners in proof of work), which requires OFAC compliance is insane.
Mev-boost literally provides incentives to censor transactions at the base layer.
DegenSpartan on the topic๐ :
Manifold(FOLD) is trying to fix this exact problem.
Hereโs a thread on MEV Boost if interested:
Pretty sure people only want to know if ETH goes up or down. Lol
3/ CryptoPunk #2924 just sold for 3,330 ETH ($4,451,633). Itโs the 4th largest Cryptopunk sale ever!
This guy sold the exact same punk for $1400 5 years ago, Fuck.
4/ MetaMask launches beta portfolio daap
5/ Skiff Privacy announces that Ethereum users can now use their ENS or MetaMask wallet for private, end-to-end encrypted email!
6/ Ribbon Finance introduces Aevo; on-chain Options exchange similar to the centralized options exchange Deribit.
Notable Tweets โ๏ธ
List of free courses from Harvard for programming
10 Incredible resources for all things ZK Proofs.
Endgame for Chainlink
Huge Immutable X unlock(IMX)
Is Nexo insolvent?
Metis season?
Thatโs enough for today! Hope yall enjoyed reading it!
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