Jeremy Bates

often windsurfing, understanding world changing technology, but mainly just relaxing

[Bankless @Bankless]

Staking on @CelestiaOrg is gaining popularity, and some people are earning airdr0ps from it

Here's how you can get started 👇

[Delphi Digital @Delphi_Digital]

“We believe @ethereum’s dominant market share is bound to deteriorate. And as the largest and most vibrant non-EVM ecosystem, we expect @solana to be the main recipient of market share normalization.”- 𝐓𝐡𝐞 𝐘𝐞𝐚𝐫 𝐀𝐡𝐞𝐚𝐝 𝐟𝐨𝐫 𝐌𝐚𝐫𝐤𝐞𝐭𝐬 𝟐𝟎𝟐𝟒.

Our Year Ahead for Markets 2024 offers a Rigorous Review covering the following subjects:

𝐊𝐞𝐲 𝐓𝐡𝐞𝐦𝐞 #𝟏: 𝐋𝐢𝐪𝐮𝐢𝐝𝐢𝐭𝐲 𝐓𝐚𝐢𝐥𝐰𝐢𝐧𝐝𝐬 & 𝐂𝐫𝐲𝐩𝐭𝐨 𝐂𝐲𝐜𝐥𝐞𝐬
🔷 Risk Back in Vogue: Rebound in Global Liquidity, Rate Cuts' Impact on Crypto, and Analysis of Bitcoin's Performance.
🔷 Liquidity Upcycles: Key Driver of $BTC and Crypto Bull Markets, Deep-Dive into Bitcoin Dynamics.
🔷 China’s PBOC: Picking Up Global Liquidity Baton.
🔷 Analysis of BTC’s Consolidation Periods.
🔷 Speculative 2024 Timeline: Liquidity Predictions, Spot BTC ETFs, Halving, and Catalysts.

𝐊𝐞𝐲 𝐓𝐡𝐞𝐦𝐞 #𝟐 : 𝐂𝐫𝐲𝐩𝐭𝐨 𝐌𝐚𝐫𝐤𝐞𝐭𝐬 𝐀𝐫𝐞 𝐓𝐫𝐚𝐧𝐬𝐢𝐭𝐢𝐨𝐧𝐢𝐧𝐠 𝐈𝐧𝐭𝐨 𝐀 𝐇𝐢𝐠𝐡 𝐕𝐨𝐥𝐚𝐭𝐢𝐥𝐢𝐭𝐲 𝐑𝐞𝐠𝐢𝐦𝐞
🔷 Thorough Review of Volatility Regimes - The Defining Behavior of Financial Markets.
🔷 Upcoming Organic Volatility Events: BTC Spot ETFs, Bitcoin Halving, and the 2024 Presidential Election.
🔷 Concluding Thoughts on Changing Market Environment.

𝐊𝐞𝐲 𝐓𝐡𝐞𝐦𝐞 #𝟑: 𝐂𝐫𝐲𝐩𝐭𝐨 𝐒𝐩𝐨𝐭 𝐄𝐓𝐅𝐬… 𝐓𝐡𝐞 𝐈𝐧𝐬𝐭𝐢𝐭𝐮𝐭𝐢𝐨𝐧𝐬 𝐀𝐫𝐞 𝐂𝐨𝐦𝐢𝐧𝐠!
🔷 Anticipated Approvals of Bitcoin Spot ETFs in January 2024: Seismic Shift.
🔷 The Role of ETFs in Equity Markets: Comprehensive Analysis of Active vs. Passive Management, ETF Rebalancing Dynamics, and the Institutional Investors’ Approach.
🔷 Gold ETFs: A Historical Precedent & Useful Comparison.
🔷 Concluding Thoughts on Crypto Spot ETFs & Impacts on Market Dynamics.

𝐊𝐞𝐲 𝐓𝐡𝐞𝐦𝐞 #𝟒: 𝐄𝐧𝐝𝐥𝐞𝐬𝐬 (@solana) 𝐒𝐮𝐦𝐦𝐞𝐫
🔷 Mean Reversion: 2024 Predictions for Solana’s Performance supported by a Deep-Dive on Solana’s Reflexivity.
🔷 Market Share Normalization: 2024 Predictions dissecting the Onchain Monopoly EVM, Solana leading EVM alternatives, Flywheel of rising Prices, and Leading Indicators of the Flippening.
🔷 Narrative Shots on Goal: Why Solana will Benefit from more Narratives than any other L1.

𝐊𝐞𝐲 𝐓𝐡𝐞𝐦𝐞 #𝟓: 𝐄.𝐕.𝐌. – 𝐄𝐯𝐞𝐫𝐲𝐭𝐡𝐢𝐧𝐠’𝐬 𝐕𝐞𝐫𝐲 𝐌𝐞𝐬𝐬𝐲
🔷 Asset Appeal vs. Investability: Ethereum no longer the Clear-Cut Top Choice for L1 investments, Proliferation of L2 solutions, and Concerns around Fragmented Liquidity.
🔷 From Clarity to Complexity: Ethereum’s Evolving Landscape.
🔷 Ethereum: Down, But Not Out - Predictions on ETH/BTC Performance and Potential Future Narratives.
🔷 Concluding Thoughts on Ethereum’s “Laggard” Behavior, the Competitive Landscape, and the Future Outlook.

𝐒𝐮𝐫𝐩𝐫𝐢𝐬𝐞𝐬 𝐅𝐫𝐨𝐦 𝟐𝟎𝟐𝟑
🔷 Surprise #1 - Economic Resilience: A Closer Look at the US Economy & Intertwinement with Financial Markets.
🔷 Surprise #2 - Bitcoin as Outside Money: Analysis of BTC’s Remarkable Strength in 2023
🔷 Surprise #3 - @Injective_’s UpOnly Year: A Deep-Dive on $INJ's Growth, Developer Environment, and Performance.

The report concludes with Futuristic Ideas, Rapid Fire Predictions, and an Executive Conclusion reeling in our thoughts about global liquidity conditions, narratives, and BTC Spot ETFs.

🚨Deadlines for the approval of BTC Spot ETFs are approaching! 🚨

𝐀𝐧 𝐞𝐱𝐜𝐞𝐫𝐩𝐭 𝐟𝐫𝐨𝐦 𝐊𝐞𝐲 𝐓𝐡𝐞𝐦𝐞 #𝟑:
“The approval of a Bitcoin spot ETF is a crucial step in legitimizing cryptocurrencies as an asset class for institutional investors. However, their participation is not guaranteed to be immediate or substantial.”

The expected approval of a Bitcoin spot ETF in January 2024 marks a significant watershed event in the cryptocurrency market, carrying wide-ranging implications. This is not only a milestone for Bitcoin but represents a profound change in the overall structure of the crypto market.

To grasp the full significance of this development, it is essential to comprehend the role of ETFs in traditional equity markets, the ongoing debate between active and passive management driven by ETFs, and the concept of passive drift.

𝐑𝐨𝐥𝐞 𝐨𝐟 𝐄𝐓𝐅𝐬 𝐢𝐧 𝐄𝐪𝐮𝐢𝐭𝐲 𝐌𝐚𝐫𝐤𝐞𝐭𝐬

ETFs have revolutionized investment by blending mutual fund diversification with stock-like liquidity. They offer exposure to market indices or sectors with lower fees and increased flexibility. The gradual shift to passive management, driven by ETF proliferation and low-cost implementation, saw passive funds holding 50% of equity assets by 2020.

The approval of a spot BTC ETF is poised to substantially increase the Total Addressable Market for institutional participants, aligning with the growing trend of assets held in passive funds. This suggests potential growth in BTC ownership as more institutions and funds adopt allocation strategies.

𝐈𝐧𝐬𝐭𝐢𝐭𝐮𝐭𝐢𝐨𝐧𝐚𝐥 𝐈𝐧𝐯𝐞𝐬𝐭𝐨𝐫𝐬’ 𝐀𝐩𝐩𝐫𝐨𝐚𝐜𝐡

The approval of a Bitcoin spot ETF marks a pivotal move in legitimizing cryptocurrencies for institutional investors. Yet, immediate or substantial participation isn't guaranteed, posing a short-term risk factor for markets. Initial flows and demand for the BTC spot ETF will be closely monitored, and disappointing numbers could trigger a “sell the news” response.

Additionally, institutional investment decisions are guided by factors such as investment mandates, risk assessments, and compliance requirements:

𝟏. 𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐌𝐚𝐧𝐝𝐚𝐭𝐞𝐬: Institutions follow specific mandates dictating investment strategies. Aligning a Bitcoin spot ETF with these mandates may require time, involving amendments to existing mandates, or drafting new ones.

𝟐. 𝐂𝐨𝐦𝐩𝐥𝐢𝐚𝐧𝐜𝐞 𝐚𝐧𝐝 𝐑𝐢𝐬𝐤 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭: Stringent compliance standards bind institutions. The volatile nature of crypto markets poses challenges in risk assessment and management, potentially delaying adoption, especially for assets beyond blue-chip BTC.

𝟑. 𝐌𝐚𝐫𝐤𝐞𝐭 𝐌𝐚𝐭𝐮𝐫𝐢𝐭𝐲: Institutional investors favor stability and maturity. While an ETF provides a regulated way to invest in Bitcoin, overall market maturity and liquidity may prompt institutions to proceed slower than anticipated.

𝐁𝐨𝐭𝐭𝐨𝐦 𝐋𝐢𝐧𝐞: We believe a gradual adoption timeline is reasonable to expect for institutional investors.

𝐆𝐨𝐥𝐝 𝐄𝐓𝐅𝐬: 𝐀 𝐇𝐢𝐬𝐭𝐨𝐫𝐢𝐜𝐚𝐥 𝐏𝐫𝐞𝐜𝐞𝐝𝐞𝐧𝐭

In the early 2000s Gold ETFs were introduced providing a more accessible avenue for investing in gold. This led to increased demand, greater liquidity, and a significant rise in gold prices.

Coincidentally, all of these factors are current impediments standing in the way of more widespread crypto adoption and allocation.

𝟏. 𝐈𝐧𝐢𝐭𝐢𝐚𝐥 𝐅𝐥𝐨𝐰𝐬 𝐚𝐧𝐝 𝐆𝐫𝐨𝐰𝐭𝐡: Gold ETFs experienced substantial interest upon introduction. For instance, the first U.S. gold ETF, SPDR Gold Shares (GLD), launched in 2004 and amassed over $1 billion in assets within three days. By its first year, GLD's assets under management (AUM) surpassed $3 billion.

𝟐. 𝐂𝐮𝐫𝐫𝐞𝐧𝐭 𝐒𝐭𝐚𝐭𝐞 𝐨𝐟 𝐆𝐨𝐥𝐝 𝐄𝐓𝐅𝐬: As of 2023, global gold ETF AUM stands at approximately $150 billion, showcasing the enduring impact of these investment vehicles on the gold market.

Considering similarities and portfolio roles shared by these assets, we may begin to see history start to rhyme.

Lastly, a Snippet from last year’s 2023 Markets Report uncovering emerging opportunities and pointing out trends early 👇

[Jake Pahor @jake_pahor]

The future belongs to modular and scalable blockchains.

Celestia is paving the way with its groundbreaking data availability network.

With a staggering 190% increase in just one month, it's a project you cannot ignore.

Don't miss my December 2023 research report on TIA.

🧵

[John Galt @lurkaroundfind]

1/5 Very likely that @CelestiaOrg currently putting together a $100M+ round.

Celestia Foundation holds $400M liquid TIA.

Round will likely be announced in the next 3 months, and will provide the funds to catapult TIA into the top 20.

[Miles Deutscher @milesdeutscher]

The biggest airdrop season in crypto history is just around the corner.

Many projects that delayed their airdrops are finalising dates now that market conditions have improved.

There is a huge opportunity to capitalise.

🧵: Here are the top 5 airdrops I'm focusing on.👇

[Adam Dorr @adam_dorr]

Episode 12 of the Brighter series is up - with some more thoughts on solving climate change with clean technology and disruption!

[Beth Kindig @Beth_Kindig]

Here are the top ten tech stocks with >$1B in revenues that are forecast to grow at the quickest rate in 2023:

Nvidia $NVDA: +59% growth
Grab $GRAB: +58%
Zscaler $ZS: +46%
Maxeon Solar $MAXN: +42%
StoneCo $STNE: +39%
Paylocity $PCTY: +37%
Robinhood $HOOD: +36%
CrowdStrike $CRWD: +35%
Adtran $ADTN: +33%
SolarEdge $SEDG: +33%

[Jared Friedman @snowmaker]

Yesterday we hosted 400 top university students at the YC Summer Conference - a fun day of talks about startups.  Talking to the students afterwards, I found myself giving a lot of the same advice. So in case it's useful to others, here is my startup advice for students.

[web3kc.eth @kingscounselxyz]

Parliament will debate a new report tomorrow.

The subject: Making the UK a global hub for cryptocurrency and fintech innovation.

Momentum behind UK crypto regulation is gathering pace.

For those wish to stay ahead of the legal curve, the TLDR👇

[Dirty Texas Hedge @HedgeDirty]

A GENTLEMAN’S PRIMER ON SHORTING INSOLVENT SHITCOS

So you’ve found a ShitCo. It’s such an ugly zombie it couldn’t be an extra in season 19 of The Walking Dead
But it’s still got a $185m cap
And you want to be the one to mung the last rancid, putrefying drops out of that corpse

[hugh hendry | acid capitalist @hendry_hugh]

Another Guerrilla Acid Capitalist Special...

Today, we hijacked the airwaves of the wonderful Bloomberg studios in New York

And commandeered / held hostage for ransom, the unflappable @adsteel

[Jelle Prins @jelleprins]

🔥 If you read one thing about AI this week, let it be Google’s leaked doc

“We have no moat, and neither does OpenAI”

[Sully @SullyOmarr]

Stability just released their new LLM.

It's open-source, has 7bparameters, and its entirely free to use commercially.

And its a MASSIVE deal, that has the potential to change up everything in AI

Here's why:

[Misha @mishadavinci]

In 2023, the SMART move is to learn technology.

Here's a list of 27 top resources to get up to speed (for free):

[Crypto Andrii @Crypt0_Andrii]

LSD season is upon us and everyone tries to play it accordingly to its preferences 🤔

Risk-averse prefer $LDO or $RPL, more degen - $SWISE, $SD, $FIS, full degen - $SGT, $HORD

My pick is $BNC and now I will argue my reasoning behind it 🤓

Mini-thread 🧵⬇️

[👃 @0xBeaky]

Narrative pumps come and go in Crypto, being ready for them can be very profitable

Having a basket of projects you are watching from each narrative is a recipe for success 🧠

Lets take a look at the narratives to watch out for and some of the strongest protocols 🧵

[Lennart 🎢🟩 @Lennartup]

The 5 best DeFi actions you can take in the $DOT ecosystem on Parallel Finance:

Included assets:

$DOT ( up to 79%)

$USDT (up to 80%)

$ACA (up to 20%)

$iBTC (up to 49%)

$GLMR (up to 14%)

A small thread that lets you earn more 🧵 (0/6)
Not financial advice.

[Nicolas Cole 🚢👻 @Nicolascole77]

Every Digital Writer should have 4 revenue streams:

1. Digital Products
2. Premium Services
3. Strategy/Advising
4. Newsletter (Free or Paid)

If you have 1 of these, you are likely on the path to financial freedom.

If you have all 4, you are recession-proof.

[hoeem @hooeem]

You can be an on-chain WIZARD if you can become a crypto data analyst.

YOU can query blockchain data and get excellent visuals to accompany it with Dune (@DuneAnalytics).

4 steps to become a pro crypto data analyst.

[Jeremy Bates @JeremyBates64]

Looks encouraging

[Csaint02 👑 🐂⭕️ @csaint02]

I’ve heard a lot of FUD surrounding @Polkadot

Some is genuine curiosity like this post below, but many takes are just lazy with little to no DD

Let’s clear up a few things, see where $DOT is now, and look to where #Polkadot aims to be within the _real_ #web3

…🧵