Sup, nerds!

Here’s what you’re getting in today’s edition:

• 💅 This is cool: The degens are going to love this one…

• 🔎 This seems important: BTC will be $_______ by Sept.

• 🤝 Partner: Explore how emerging technologies help you stay ahead​

• 🔪 Let's dissect this: Why stablecoins are so important

Terms used in this edition (click for an explanation, or ask Web(GPT)3!):
Market capitalization, decentralized exchange, fiat currency, stablecoin.

💅 This is cool:

This Exchange Lets You Bet on the Future Market Cap of Tokens (Before They’ve Even Launched)

In one sentence: The Vega Protocol just introduced a new feature to its platform that allows traders to bet on the future market value of new crypto tokens. 

You know how you’ll alienate your loved ones, by constantly trying to steer a family game in the direction of your personal interests?

Like, instead of charades, you’ll often suggest a good old fashioned game of “guess the cryptocurrency’s future market capitalization.”

(To the point that your dad has threatened to write you out of the will?)

Well, we have good news for you:

You can now shield your family from the brunt of your obsession, while still having an outlet in which to nurture it.

The Vega Protocol just introduced a new feature to its decentralized exchange platform that allows traders to bet on the future market value of new crypto tokens. 

(Before they’ve officially launched).

Do we need to be able to make these kinds of speculative bets?

No.

Do we want to be able to?

(If for no other reason than to stay in the good graces of our family, and therefore, our parent’s will…)

Yes.

🥇 Want the news before anyone else?

🔎 This seems important:

BTC will be $_______ by the end of September

In one sentence: Right now there’s heightened BTC options interest predicting Bitcoin will be anywhere between $75k and $100k by September.

You know those insufferable YouTube thumbnails where the host will be pulling a cartoonish shocked face?

(Á la, Edvard Munch's 'The Scream' ☝️).

They annoy us as much as the next person — but if there were ever a time to use one, it’d be with this prediction…

“Bitcoin will be above $100,000 by September.”

That’s a bold statement.

Especially after Bitcoin spent this past Monday and Tuesday sliding from $65.5k, to $63k…

But that’s the bet Bitcoin options traders are currently making.

Basically, options = the option to buy an asset at a certain price in the future.

And right now, there’s a strange amount of interest in buying the option to purchase Bitcoin for anywhere between $75k and $100k in September.

Meaning — the BTC options market seems to think buying BTC for $75k-$100k in September will be a profitable trade.

Which seems unhinged…

But so did their bets from last year, which wagered we’d see a $70k+ BTC in March 2024 — and they nailed that one!

Here’s hoping they’re right again.

🤝 Partner:

Explore How Emerging Technologies Help You Stay Ahead

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• Presentations and analysis from 20+ blockchain protocols, including ETH & BTC Day and Deep Dive Workshops from XRP Ledger, Solana, Avalanche and more

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• And so much more!

Consensus is crypto’s biggest, longest-running and most influential event.

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🔪 Let's dissect this:

Why Stablecoins Are So Important

In one sentence: Colombia’s largest bank, Bancolombia, has entered the crypto business by launching a crypto exchange and a stablecoin, which got us thinking about the value of stablecoins.

Colombia’s largest bank, Bancolombia, has entered the crypto business by launching a crypto exchange called Wenia.

At the same time, they’ve launched a stablecoin called ‘COPW,’ which is pegged to the Colombian peso.

That news is cool and all, but the important topic it got us thinking about is this:

Lots of people (on both sides of the fence!) seem to think that there’s only room for either crypto or traditional finance, but no room for them to co-exist.

We’re here to tell you that’s bullsh*t.

Take a stablecoin like COPW for example - it literally couldn’t exist without having a fiat currency to be pegged to.

Sure, there are other stablecoins that are pegged to the value of gold and other commodities, but in the end the value of those can fluctuate greatly too, making them difficult to be ‘stable’ stablecoins.

(Not to mention algorithmic stablecoins á la UST 😐)

We’re not sure that crypto will ever be the dominant currency of the world - and that’s not necessarily a bad thing.

But there’s a very important place in the world for stablecoins.

For example, if your country’s fiat currency is experiencing hyperinflation right now, but you have the opportunity to put it on an exchange and convert it for something like USDC; suddenly your currency will only inflate as much as US Dollars inflate - still relatively high, but not catastrophic.

All of this is to say that we love to see a company which is so deeply engrained in the traditional finance space (literally a bank) move into the crypto space with the view to onboard their users into crypto.

Kudos to you, Bancolombia.

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Three Types of Stablecoins Explained