Waver

Keeping tabs on digital assets. Occasionally I'll post captivating art.

[WanderCorp @WanderCorpo]

Introducing $WANDER

The Token of Tomorrow, for the Wanderers of Today.

To get started, claim your galaxy below 👇

[jija 🔮 @jija_eth]

The sole protector of The Aetherwood Chronicles in the Golden Armor...

Guardian of the Ancient knowledge and wisdom...

a Zenturian has been minted after 6 months.

The Glided!!

@ZenAcademy , @Zeneca

[Waver @WaverevaW]

@jija_eth @ZenAcademy @Zeneca 🙌

[Flayer Labs @FlayerLabs]

The doors will open and close within 72 hours.

early entry is limited, then invite only.

Act now, before it's too late.

RTs are guaranteed a spot.

[Waver @WaverevaW]

@FlayerApp wanderers

[NFTX @NFTX_]

@NFTX_ 🤝 @FloorDAO 🤝 @MeritCircle_IO

Can you feel it in the air?

Welcome to P̵r̵o̵j̵e̵c̵t̵ ̵N̵E̵W̵ ̵W̵I̵N̵D̵ ƒlayer, a supercharged protocol for your digital assets

[Waver @WaverevaW]

@_Checkmatey_ Isn't it "world computer"? The decades-out ambition being to facilitate a large fraction of global economic activity, and nearly all economic activity that occurs over the internet. That's my long-term hope for bitcoin too, not just as "digital gold."

[Wanderers @Wanderers]

We are excited to announce that Wanderers is now available for wishlist on @EpicGames

Get ready to die, First Jump begins 5/3

Wishlist now: https://t.co/QkyGd1JpyZ

[Nick Greenawalt @motionbynick]

have a good weekend, wanderers

i have a secret insider source who says shit is about to get real, real soon

[otherguide @otherguidepro]

@Wanderers looks and sounds even better than it did last time.

💽 The new UI updates and RAM terminals make choosing your builds even easier.

🎧 The bosses were hard but the beat drop went way harder.

[Wanderers @Wanderers]

Steer clear of Vesna’s bee swarm 🐝

[Hayden Adams 🦄 @haydenzadams]

Today @Uniswap Labs received a Wells notice from the SEC.

I’m not surprised. Just annoyed, disappointed, and ready to fight.

I am confident that the products we offer are legal and that our work is on the right side of history. But it’s been clear for a while that rather than working to create clear, informed rules, the SEC has decided to focus on attacking long-time good actors like Uniswap and Coinbase. All while letting bad actors like FTX slip by.

When I first set out to build Uniswap, the goal wasn’t to reimagine finance.

It was an experiment in radically decentralized, fully automated onchain markets. I didn’t know if it would work or if anyone would use it.

Fast forward to today, the Uniswap Protocol has processed over $2 trillion in volume. Many thousands of teams and developers have forked our code or built on top of it. We built entirely new financial infrastructure that is transparent, fair, secure, and accessible powering an entire industry.

The team at @Uniswap did all of this in the US from our office in New York City.

People often ask me why we stay in the US and my answer is simple: I believe that blockchain is incredibly powerful technology. Like the Internet, it’s here to stay. So someone needs to figure it out, and it might as well be us.

And that when you build technology that improves people’s lives – you don’t need to hide.

The @SEC’s mission is “protecting investors, maintaining fair, orderly, and efficient markets, and facilitating capital formation.” This is a noble mission. I would argue @Uniswap does a far better job of this today than the SEC.

Yes, I'm frustrated that the SEC seems to be more concerned with protecting opaque systems than protecting consumers. And that we'll have to fight a US government agency to protect our company and our industry.

This fight will take years, may go all the way to the Supreme Court, and the future of financial technology and our industry hangs in the balance. If we stand together we can win.

I think freedom is worth fighting for. I think DeFi is worth fighting for.

And of course, we won’t stop shipping. Stay tuned

🦄💜

[Wanderers @Wanderers]

Double-hand Wanderers, your time has come...

Complete the Quest to unlock a Key 👇

[Wanderers @Wanderers]

KEY BURN 4/20 🔥

On 4/20, all Keys (both spent and unspent) will be burned for XP, and Bundle upgrading ENDS.

Spent Keys will receive more XP than unspent Keys - so spend them all 👇

[Waver @WaverevaW]

@verse_works @TaborRobak Waver

[JERES @heyjeres]

delighted to announce Panic Blooms minted out late last night, here's #100, fittingly a very pleasant golden sunset vibe ✨🧡💚

[Waver @WaverevaW]

@bitkhan1996 @_Checkmatey_ I think this is right, but for me it wasn't until the court ruled in August and solidified it.

[Waver @WaverevaW]

@dcinvestor Check the top OS charts in years pre-2021 on the web archive. During the big NFT bull in mid-2021, almost all of those collections bled out. I think it's the right hunch for the next one too.

[Waver @WaverevaW]

I made this masterpiece using @Wanderers WanderPix https://t.co/jgjkjbSwCr

[Dylan LeClair @DylanLeClair]

General $BTC market outlook update:

Supply distribution has started. Here's what I'm looking at and how it compares to previous cycles, and what might come next:

First off, the biggest story is obviously the ETFs. $IBIT has been the most succesful ETF launch in history by a wide variety of metrics, and just looking at BlackRock + Fidelity alone, they've bought 284k BTC since launch, greater than 1% of total #bitcoin supply that will ever exist.

On a net basis, including $GBTC outflows, ETFs have hoovered up ~160k BTC since launch in early January. Just massive numbers. Demand has surpassed most all initial expectations, with increasing strength into the rally ($788m of inflows from $IBIT alone yesterday amidst a -8% close from ATHs). While the bitcoin market has boomed post ETFs, nothing exists in a vacuum.

For those that have been following since before the ETF, it was clear the ground work for this rally was laid over the past couple years of bear market purgatory.

Various on-chain HODL metrics clearly showed all time levels of supply constraint. From the most simple to understand (i.e. '% of supply last moved in N+ years' most all hitting all time highs) or more advanced quantifications of HODL strength using the UTXO set, despite the +100% bounce from 2022 lows, net accumulation was on-going for much of 2023.

However, as is tradition with the ever-cyclical $BTC market, with the rise to new heights comes the distribution of coins to new entrants from the old guard.

This can clearly be seen by the change in long-term holders over the recent months. For those interested in a deeper dive on the quantification of LTHs, you can take a deeper dive here: https://t.co/9FbZj1JY6M

However, at this stage, I'd say its far from worrisome, nor by any means a red alert for bulls. New distribution (on a 30d change basis) began to occur at ~$1k in 2017 and ~$13k in 2020 during the run up to new highs, and started in early January this time around.

Here's a visual of the distribution that has begun to occur. Below displays the drawdown in supply held by long-term holders from its local two peak as a percent of circulating supply. Just the start, and likely to increase as new highs are set (if current rally is sustained).

A clear takeaway should be just how strong distribution can become during a raging bull market while price is still going parabolic.

As new forms of demand unlock from new classes of investors that realize bitcoin did not indeed die during the previous bear, while fundamentals such as liquidity and adoption have improved, unlocked supply can be overwhelmed by newfound demand for quite a while. A local peak is reached once an increasing overhang of supply exceeds newfound demand at exceedingly high prices, the exchange rate crashes, and we repeat the whole cycle of accumulation all over again.

In terms of catalyst on the horizon I am watching, there are a few obvious ones. First, it's still the early innings of ETF allocations. These passive flows from the world's largest financial institutions will continue, and are likely to grow given the immediate success of the products. Here are some of my thoughts from back in November on the impact of ETFs. All still hold true today, and admittedly my initial expectations have been far surpassed. Crazy bullish.
https://t.co/gshlNVqGtZ

Portfolio managers and financial advisors have zero excuse to ignore the best performing asset in absolute and risk adjusted returns after the BlackRock stamp of approval and subsequent ETF rollout. You especially can't afford to ignore it when your direct industry competitors aren't ( $IBIT is currently +25% above its average volume weighted price ). There will be chasing.

Secondly, the FASB accounting rule change has massive implications that have not begun to be priced in or felt by the market. Post 2020, it was only $MSTR, $SQ, $TSLA, $COIN, and some miners with $BTC exposure in public markets, which was treated as an intangible asset.

It's only a matter of time until CFOs everywhere, with improved accounting standards for $BTC, begin to wake up. Saylor's $MSTR raised another $700m this morning at 0.625% in the convertible debt market. This is on top of already tapping the corporate debt market with a 0% convert and a 6% junk offering previously.

You could've laughed and dismissed it all you wish during the mania of 2021. Laugh they did, yet MicroStrategy is +933% from the point they adopted a bitcoin standard, and every single debt instrument issued and equity sale facility utilized to buy $BTC is in the money. There will be copycats.

While maybe not as ALL IN as Saylor's $MSTR, there WILL be copycats.

Capital markets are still mispricing this transition. Corporate speculative attacks and share dilutions to acquire $BTC will occur with increasing levels of frequency and size. This is not going away. The playbook has been vindicated. After a decade+ of ZIRP financed buybacks that decapitlize corporate balance sheets that created a zombified public sector, the pendalum is going to swing back. $BTC is the new stock buyback, most companies just haven't figured it out yet.

Lastly, Russia being kicked from SWIFT sent a clear signal to any not under the umbrella of USD hegemony. Multiple sovereign are currently mining BTC. Multiple are likely accumulating in secret currently as well.

$BTC is running it back on a global stage, but this time around with pipes built out directly into the heart of TradFi.

In summary, yes, incumbent HODLers have begun to slightly distribute, but they are currently being met by an insatiable wall of money. It's going to be a wild ride ahead.

Finally, if you found any of this interesting or valuable, consider a share. 🧡🫡