Sup, nerds!

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

• 💅 This is cool: We are ready for a new system…

• 🔎 This seems important: 2x your money in a weekend? Sure, why not

• 🤝 Partner: Get exclusive access to this $2.1 trillion investment banking secret​

• 🔪 Let's dissect this: Floki takes the “burn n’ earn” route

Terms used in this edition (click for an explanation, or ask Web(GPT)3!):
Bull Run, Meme Coin, Tokenomics.

💅 This is cool:

“We Are Ready for a New System“ - Ethereum Co-Founder / Our Mate Greg

In one sentence: Our mate Greg lost out on ~$17k worth of crypto gains cause he had to argue with his bank for 7 days before they’d let him move his funds to a crypto exchange.

You know the four stages of the crypto bull run that we covered last week?

Yeah, well — this is peak stage two commentary. Ethereum co-founder Joe Lubin gave his two cents on the industry at ETH Denver this past weekend, saying:

Which — ok, of course he’s going to say that — he’s a crypto founder, at a crypto conference, in the middle of a bull run.

But this past weekend, we had a conversation with our buddy Greg about the most mundane subject, and (if we weren’t already) this conversation well and truly sold us on crypto creating ‘a new system’ for the world.

The subject of the conversation was money transfers…

And it went something like this:

[For context, Greg’s Australian]

Money transfers aren’t the sexiest ‘killer use case’ — but our chat with Greg made it clear:

We’re ready for a “new system” of banking.

🥇 Want the news before anyone else?

🔎 This seems important:

2x Your Money in a Weekend? Sure, Why Not…

In one sentence: SHIB and WIF moved 60%, while PEPE damn near doubled in price — so much of the ‘mania’ we’re experiencing right now feels very ‘late stage’ bull run.

We have this app on our phone that sends push notifications for each days’ ‘biggest movers’ in crypto.

And all weekend it was just meme coin after meme coin.

Shiba Inu (SHIB) moved 60%.
Dogwifhat (WIF) moved the same.
Pepe (PEPE) — oh man — PEPE damn near doubled in price.

And all along the way, folks were shorting these tokens (aka betting they’d go down), only to get wrecked and pay back a cumulative $50M to these projects.

(Which only pushed the price higher).

Our takeaway:

This bull run is weird. So much of the ‘mania’ that we’re experiencing right now feels…not out of place exactly, but…early.

Meme coin run ups are more of a ‘late stage’ bull run phenomenon.

As long as we’re not seeing a left-translated cycle, we’re happy.

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🔪 Let's dissect this:

FLOKI Takes the “Burn N’ Earn” Route

In one sentence: FLOKI doubled in price after the approval of a 2% token supply burn.

Meme coins are exactly like they sound:

Tokens created off the back of memes.

People usually buy into them for fun, but a ton of these tokens have created some pretty strong communities around them.

(Uhhhh, hello Doge Father).  

Which brings us here:

FLOKI, a dog related meme coin, recently approved a proposal to burn 2% of the token’s supply ($11M value at the time).

“Cool, cool, so what does that mean?”

Burning coins removes tokens from circulation forever and usually causes the price to go up.

(The less supply we have of something, the more we tend to value it).

Which means for healthier tokenomics. 

And it sure seems to be the case as of right now. The FLOKI token saw a rapid 100% increase in price over 24 hours.

Not bad!

What is FLOKI?