This is why I hold mainly ETH, as I told you in previous Reports.

I was hoping for ETH ETF or trust to kick off the ETH narrative. As I told you, I expected that ETH won’t stay behind BTC for long. However, I'm surprised this came so early.

Everyone is so focused on the BTC ETF and often the first gold ETFs are used as an example of what will happen.

I believe the first American traded gold ETF in 2004 just had a small impact on the price. And the run up was mainly caused by the 2008 financial crisis.

Of course, it flew before. But the trend was already there and it looks similar to the movement in ‘77.

In other words ETFs are just a vehicle, a psychological trigger for something that would happen anyway, especially with the upcoming financial crisis… ups spoiler.

And the same applies to BTC. It would run similar without an ETF. It just happens faster with the ETF.

On-Chain Look

This is a picture we want to see. Stable inflows and TVL rising.

CEX 7D net Flows:
BTC -23k (-1.15%) flew out of exchanges.
ETH with some inflows today +88k, which makes -62k (-0.43%) less on CEXs

Chain 7D Flows:
Arbitrum with the most inflows of ~$44m, which is not surprising with ARB STIP in full swing.
OP with $15.5m on second and Gnosis on third place with ~$13m.

DeFi Updates

Another Oath eco project launched, Digit.

It’s basically a yield optimizer with some extra features.

If you haven’t yet, you should definitely dig more into the Oath eco-system. V2 launching soon and the first Oath Chapter AureliusFi will also be deployed on Mantle in the near future.

You know I’m a big fan of CDPs and another interesting one is about to launch.

For some reason Arbitrum is pretty poor in such kind of protocols, so it’s even more pleasant that Seneca launches.

Seneca has raised 150 ETH in its fair launch and $SEN is currently trading around $0.45

I didn’t participate in the launch, neither did I buy yet. I’m just not a fan of buying a project without a fully and properly launched product.

Don’t miss out on $TIME + $ARB incentives!

Borrowing $ARB brings you 68% rewards atm. Lend your borrowed $ARB again and you can make another 47% on top.

Another Airdrop. Check if you’re eligible…

The SOL eco might be a good place to position.

The DeFiChain MetaChain is launching soon. After they fumbled the dToken system, I’m not so sure about it, but lets observe what will happen.

It’s very centralized, because most is running through Bake. But this could also be a strength. It very appealing for non-crypto people.

Investing

The only utility of a token people care about is making you money. Find strong projects that share profit with holders and you know what people want to hold.

Macro

China and Japan started to drop some stim-packs.

China:
• over $100 billi into the lending market
• rate cuts on mortgages

While Germany is already in a full recession, China could kick it off for the US as well. Not that it needs China for that, but it’s a good indicator to pull out before shit hits the fan.

As I’ve mentioned before, the yield curve inversion is a solid indicator for predicting a recession. There’re just different time horizons until it hits.

When it arrives the FED has to print, but historically a pivot also caused a drop in the markets first.

Stay Sexy!

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