Blockcast

Yield farms, airdrops, project research and more

[Blockcast @0xBlockcast]

1) @nektarnetwork did a surprise launch for their $NET token. Initially, there weren't much details provided. Over the past few days, more details were shared, so let's delve in... 🧵

[Nektar Network @nektarnetwork]

The wait is over—NET token is live!

The NET token has officially been launched, marking a major milestone for Nektar and its ecosystem.

If you're eligible for NET, you’ll be able to start claiming your tokens later today.

Follow us on X and Discord for the latest updates and instructions on how to claim.

[Freedom Factory @FreedomFactory]

The second oldest ETH token on the market is airdropping 0.5% of the supply to the airdrop pool 👀

@currencycoineth is only claimable on the dGEN1 when we open the claim in the next OTA!🪙🪙���

[Culgin.eth | Justmy2.gwei @CryptoCulgin]

One less talked about effect of having more stablecoins onchain is that it will likely lower borrowing cost (i.e. cost for onchain leverage). This is beneficial to the market regardless whether those stables are going to be immediately buying the dip or not

[Culgin.eth | Justmy2.gwei @CryptoCulgin]

1.8M $ETH in reserve to 2.96M in less than 3 weeks. 5M should be coming pretty soon

[Culgin.eth | Justmy2.gwei @CryptoCulgin]

On 3 Jan 2009, the genesis block on the Bitcoin network was mined. 10 years later, $BTC was trading at ~$3.6k.

On 30 July 2015, the genesis block on the Ethereum network was mined. Interestingly, $ETH is also currently trading at ~$3.6k.

[Elixir @elixir]

Elixir is excited to announce that @Hamilton_Lane SCOPE will hold deUSD, at 5% of the fund's total AUM

Elixir's network will enable 24/7 default atomic liquidity for the fund

[Culgin.eth | Justmy2.gwei @CryptoCulgin]

There's no reason why $ETH can't be a trillion dollars asset

[Culgin.eth | Justmy2.gwei @CryptoCulgin]

2 of the top 5 gas guzzlers on $ETH mainnet are stablecoin contracts and people still don't know why the proliferation of stablecoins through GENIUS Act is going to benefit $ETH.

[Culgin.eth | Justmy2.gwei @CryptoCulgin]

More Bitcoin mining companies will realize that the sector they're in is a red ocean.

Pivoting to $ETH is an easy transition and it's still early.

[Culgin.eth | Justmy2.gwei @CryptoCulgin]

$eth will be at ATH if $ethbtc ratio just mean revert to around 0.04

[RYAN SΞAN ADAMS @RyanSAdams]

The ETH Report for Q2 just dropped and its bullish.

10 Insights 👇

1) Stablecoin Dominance

Stablecoin supply on L1 hit $137B —51% of stablecoins and growing.

BUILD (Blackrock): +56%
PYUSD (PayPal): +19%

@fundstrat calls this cryptos ChatGPT movement.

All on Ethereum.

[Blockcast @0xBlockcast]

Hitting the jackpot 😁

[Crypto Rover @cryptorover]

💥BREAKING:

A BITCOIN MINER JUST SOLO-MINED AN ENTIRE BLOCK, EARNING $348,900 IN A SINGLE DAY.

[vitalik.eth @VitalikButerin]

Ethereum L1 is the world ledger.

[sassal.eth/acc 🦇🔊 @sassal0x]

Long-term potential: $706,000 per ETH

https://t.co/bkiEDjVGKU

[Culgin.eth | Justmy2.gwei @CryptoCulgin]

Keeping either $sUSD and $SNX on @infinex_app is going to yield you weekly rewards plus a chance to win the Patron NFT and other prices.

[Napier @NapierFinance]

Napier Points Program Upgraded

→ Max Napier Points supply set — no further dilution
→ Napier Point APY — points now tied to real numbers
→ PT lending now eligible for Napier Point rewards
→ Continued growth ahead for Napier

https://t.co/RwMKMDvVqf

[Culgin.eth | Justmy2.gwei @CryptoCulgin]

@synthetix 420 pool improves capital efficiency and brings deeper liquidity.

@snaxchain brings better execution for Perps v4.

@infinex_app integrating Snaxchain on day 1.

All this coming together to provide a seamless UI/UX rivaling Hyperliquid.

Is the ticker $SNX?

[Culgin.eth | Justmy2.gwei @CryptoCulgin]

Earlier, I said that apps with a large volume of transactions (e.g., games, social, or DePINs) will benefit most from @SonicLabs' FeeM reward mechanism.

Indeed, the current top earner of FeeM rewards is a game called @sacra_fi. I haven’t tried it, but the website is interesting. Maybe a fun way to pass time during the down market? 😅

[Culgin.eth | Justmy2.gwei @CryptoCulgin]

If your product is good, there is no need to time your TGE. This cycle has proven time and again that there is no "good time" to launch a token anyway 😅

[Culgin.eth | Justmy2.gwei @CryptoCulgin]

My timeline suggests much pain, and I feel it too.

$ETH trades near the 300W SMA, entering @benjamincowen's (in)famous regression band (aka "Home"). The 300W SMA held as support back in June 2022 post-Terra-Luna collapse and I think there is a good chance it will hold as support this time as well.

Can it drop more? Certainly, no one knows, but the regression band's mid-line is about $1559 (also the 400W SMA), with a lower bound around $1.1k.

Still, in the longer term, I believe the upside outweighs the potential downside. Zoom out.

[Culgin.eth | Justmy2.gwei @CryptoCulgin]

$ETH price is lackluster, but adoption keeps increasing. Already, 120 high-profile entities are building on Ethereum.

The network effect will only continue to spread.