September 15, 2024
The A, B, C, D and E of Crypto This Week
Dear Subscriber,
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| By Dawn Pennington |
If you had crypto on your bingo card for Tuesday’s Harris-Trump debate, you didn’t get to stamp out that square.
Neither candidate touched on the future of digital currencies.
This wasn’t unexpected. Polymarket bets showed that only about 17% and 13% of users thought Trump or Harris, respectively, would bring them up.
Meanwhile, the debate sent Polymarket election-betting activity to all-time highs.
No wonder Interactive Brokers plans to launch a platform this coming Monday where U.S. users can finally get in on the election-betting game.
The debate also moved crypto markets themselves.
That direction was about 3% lower during the televised event, though Bitcoin is up for the week.
Of course, any pullbacks between now and November shouldn’t be a surprise to Weiss Crypto Daily readers.
After all, Juan Villaverde’s Crypto Timing Model signaled last week that a major cycle low is coming our way on or around Election Day.
This tells us that, no matter who won the debate or who wins the election, crypto traders and investors will be winners either way.
Especially if you master the strategies our crypto experts outlined for you in the meantime.
I call those this week’s A, B, C, D and E of crypto.
That sums up our top five topics: amazing alts, Drift's Binance moment, community-building, developing markets’ crypto innovation, and Ethereum’s error.
I’ll give you all the details below.
What’s Going on with Ethereum?
In Friday’s edition, Juan examined Ethereum’s relative underperformance to Bitcoin since the 2022 “Merge” that was supposed to set it up to compete more directly against the oldest and biggest crypto by market cap.
3 Amazing Altcoins Ready for a Rebound
With Ethereum out of the running for the “amazing” moniker, Dr. Bruce Ng featured three “alts” performing as well as, or even better than, Bitcoin. Those include memecoin DogWifHat (WIF, “D-”), DeFi lending platform Aave (AAVE, “C+”) and Layer-1 platform SUI ( SUI, Not Yet Rated).
Crypto Projects That Generate High, Real Revenue
Marija Matic dived deeper into Aave and how it redistributes excess revenue to holders. And she made the case for perpetual payouts via something called Perp DEXes. Jupiter’s JLP pool is one of her favorites, though Banana Gun (BANANA, Not Yet Rated) and Rollbit (RLB, Not Yet Rated) show how “bananas” it is how many options there are to generate revenue.
A ‘Binance Moment’ for DeFi Derivatives
Adding to the case for Solana (and against Ethereum), DeFi projects like Drift (DRIFT, Not Yet Rated) are gravitating to Solana’s low fees, high speeds and ever-improving infrastructure. Mark Gough makes an equally compelling case for why people are flocking to Drift, the Decentralized Derivative Exchange (DEX) that’s just gotten a big cash infusion from a venture capital firm.
These Developing Markets are Reshaping the Crypto Landscape
While most of the crypto activity around the world is straight-up trading, developing nations are using it for innovation. Jurica Dujmovic does a deep dive into how people all over the world are using crypto to build communities, bring financial services to unbanked populations, and preserve wealth amid government restrictions and currency instability.
To your health and wealth,
Dawn Pennington
Editorial Director
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