People overreacted to the news that the German gov is moving funds and mt.Gox will also release the long awaited funds.

It’s so funny that something like governments starting to sell always happens when the sentiment is at the bottom. You can’t make this up. However, it’s often a bottom signal.

DeFi Updates

The new campaign called “Methamorphosis” is going to start on Juli 1st and lasts 100 days.

It’s all about the Mantle’s new liquid restaking token cmETH and its gov token COOK. During the campaign, you can earn points called powder, which are convertible to COOK in the end.

As I told you before, mETH will play a central role until cmETH is available. And of course, collecting powder via staking MNT in the Reward Station will also earn you some of that good stuff.

I actually don’t like when teams change the rules in the middle of a campaign, but in this case, I agree that it’s necessary.

The MILK airdrop is delayed. It would have made sense to drop it, if TIA would still been hyped. The price, however, tells a different story and releasing MILK would just result in an instant dump.

Ethereum is scaling?

Gas has been an indicator of the activity on the chain. Not anymore.

Sanctum is doing quite a nice job.

Stella might go through a rebranding to LitLayer (not sure if I like the name).

With it comes a new intent-based leverage trading infrastructure and this will be a solution to the highly fragmented liquidity. It lets you even trade exotic assets and points 👀

The launch is planned in September.

Investing

This is a huge azz number… 1M ETH!!

I don’t expect that a lot of it will be sold immediately, but I also can’t imagine that most of it will find its way back to PTs. 9% fixed APY isn’t enough. So most of it probably will flow into other protocols.

Same applies to my ETH. Most of it will slide over to Mantle.

I could also see that the Pendle price will suffer a bit after that outflows, which could be a good opportunity.

Last week was a good airdrop week for me. I could claim ZK, ZRO and the second season of MAV.

I sold most of my ZK in the $0.26 - $0.22 range. It wasn’t quite what I wanted to sell, but I’d rather bet on other stuff. The rest landed in an ZK/ETH LP.

I’ve never sold an airdrop as fast as ZRO. The project is cool, but the token is useless.

For MAV there was the choice to lock it as veMAV or into a liquid locker and I decided for SpiralDAO.

Macro

My first article on X

Cycle as Usual

We haven’t experienced an increase of global money supply for two years now. Still, crypto is doing pretty well for a “liquidity sponge”. It’s inevitable that this chart will break to the upside and then we’ll really see a bull.

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Stay Sexy!

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