Cosmic Universe Magic
$MAGIC
4 Results
Following large intraday swings yesterday after Jerome Powell's speech at the Economic Club of DC, traditional indices have picked a direction, with the SPY 8.90% (-1.07%) and QQQ (-1.72%) both falling today. BTC -2.68% (-1.30%) and ETH -2.16% (-1.36%) continue to trade around $23k and $1.65k as many altcoins are cooling off following impressive gains over the past month. Popular Arbitrum tokens GMX -5.25% and MAGIC -9.86% are down 9.05% and 13.83%, respectively. The Sandbox...
REALIZED CAP HIGHLIGHTS CONTINUED OUTFLOWS Realized capitalization is an important metric we have frequently referenced in prior notes. It values the network based on the price at which each bitcoin was last exchanged. It is a way to calculate the overall cost basis of all BTC -2.68% holders and, consequently, is a useful measure of flows into and out of the bitcoin network. As one might expect, this year has witnessed...
FIGURE: FARMER PEPE JADED FROM BEING OVEREXPOSED TO TERRA WHILST SIMULTANEOUSLY RUGGED BY MILADIES, AS HE CONTEMPLATES HURLING IN HIS LAST BAG OF SEEDS TO ONE MORE FARM Source: Fundstrat Fellow DeFi Enthusiasts, We hope this week’s DeFi Digest finds you well. Evidently, these market (weather) conditions have shown to be inconducive to the strategies (crops) we’ve cultivated throughout the last 18 months. Like farmers adapting to changing seasons, we...
