Bitcoin, Ethereum, Algorand & SHIB Are Next in Line For A Crypto Tsunami ($1.2B expires!)

Bitcoin, Ethereum, Algorand & SHIB are next in line for a crypto tsunami ($1.2B expires!)
Bitcoin, Ethereum, Algorand & SHIB Are Next in Line For A Crypto Tsunami ($1.2B expires!)


Bitcoin, Ethereum, Algorand & SHIB are next in line for a crypto tsunami ($1.2B expires!) Yeah. So anytime that liquidity is being taken out of this system, which is what's happening right now, all risk assets will continue to fall, Yes.

Today I want to share with you three main stories. I will talk about Ethereum, over $ 127 billion dollar’s worth of ETH Options, expiring. Valkyrie's chief investment officer shares where he sees bitcoin headed next, as well as algorithm news, polygon news, lower cap, altcoin news, and much more.

Ethereum

First, talking about Ethereum on August 26, $ 127 billion dollars in ETH Options, expire, and data signals that the price is likely to stay pinned under $2,000 until the merge. So let's unpack this. So, bearers have placed their bets that Ethereum's price will be below $600 after the expiry, which happens tomorrow. And bulls have a few different scenarios, but even they aren't betting that

Ethereum is going above $2,000 anytime soon. So nobody's ultra bullish yet. Nobody's ultra bearish. And if we look at the call options versus put options call open interest, which is ie. Bullish, or put open interest, which is bearish, there are more calls than puts.

 Actually, the call put ratio is 1.18. So right now, the bulls are winning. If that still doesn't make sense in a nutshell, here's what that means. Because the price of eating right now is above $1,600, and the bears place their bets mostly below $1,600. If Ethereum's price remains above that number when markets open tomorrow, when the contracts expire, only 95 million put sell options will be available. This difference happens because the right to sell ether at $600 or lower is worthless if ether trades above that level on expiry.

So, again, that tells us that right now, at least, the bulls are winning. Bulls completely dominate the August expiry. Below are the three most likely scenarios for tomorrow based on the current price action. If Ethereum lands between $1,500, puts will be about even. Bulls and bears are distributed equally overall. If the eaves price finishes a little higher, between $1,601 to $1,700 tomorrow, the net result favors the call bull instruments by a slight, slight margin of $150,000,000. And, of course, if we go even slightly more bullish between $1,701 to $1,800, the bull's advantage increases to $290,000,000, which would show that the bulls were right in these calls versus puts, which is a small victory, but a victory for Ethereum nonetheless.

Now, of course, the above potential outcomes are oversimplification, and they do disregard more complex investment strategies. So it does get more complicated. I just kept it simple for today. But again, how does this affect you as an ETH holder or just know as these options expire, which they do every month, traders tend to push the price bullish or bearish and manipulate the price to what they want to what they bet on. Luckily, there's not a huge spread.

So I don't have that much manipulation for the end of this month, but I will see. If you hold Ethereum, give me your thoughts. How much weight do you put into metrics like this?

Bitcoin

What about Bitcoin? It is the market mover. What happens to Bitcoin does tend to affect the whole market. While on Bloomberg, Valkyrie's chief investment Officer gave his opinion, saying as long as the Fed is still hawkish risk-off, assets like Bitcoin will continue to get drained. I do think that bitcoin has a little more to fall from where it is now, he said. We are pretty close to the bottom, and from here, I think in the long run, we are going to be doing just fine. But really, everything depends on macro at the moment, inflation, as well as what risk assets do in a hawkish Fed. Hawkish Fed. I think about the letter that Dan Moored at Pantera wrote to investors. I got it in my inbox today. How will the notion that rates are rising considerably faster than anticipated affect the direction Bitcoin takes next? 

All risky assets will keep declining while the system's liquidity is being removed, as it is at the moment. So Bitcoin, luckily, and also, unfortunately, earlier this year, did fall quite a bit due to some local contagion risk. But Bitcoin is the first asset to go. The rest of the financial markets are still lagging, so we're waiting. By the way, I concur with Dan that we still have a long way to go in terms of rate hikes. By the end of the year, we predict that the Fed's target rate will be between 375 and 400.

Altcoin

The first piece of altcoin news on Uniswap. But again, feel free to check the timestamps. Find the altcoin news that's most relevant to you. It's a go. The Uniswap foundation becomes a reality after receiving 86 million votes in favor. So who is behind this and what is the purpose of this foundation?

The $74 million plan. The amount of money that was just allocated to this foundation was proposed by two former Uniswap lab execs. The foundation's initial plan calls for streamlining UPG, Uniswap's grant program, and lowering friction in the protocol's governance structure. Former UNSWAP Labs exec Devon Walsh, now serving as executive director of the UNSWAP Foundation, shared the results in a tweet on August 24, noting that the proposal to create the foundation passed its final vote. And they have $74 million now. 

So if you hold a Uniswap token, how are they going to use that? Walsh said that the US. Has already hit the ground running on its top priorities, including interviewing talented, value-aligned candidates to join the team, scaling up the UPG, and reinvigorating governance so that's the news uni swap continues to build. And my only question is, I thought this was what the Dow was supposed to be for. Uniswap has a dow now. They also have a foundation. So what that means is both units are going to be deciding where the money goes. I'm going to keep researching.

Voyager

The next piece of quick news on Voyager. Crypto lender Voyager can pay employees retention bonuses. The US. Judge rules. Judge Michael Wyles also agreed to withhold the names and titles of the employees who may receive the bonuses. So, while you may have not received your money back yet, if you put an invoker, some of their employees are getting bonuses before you. A federal judge ruled that the crypto lender Voyager Digital, which is undergoing bankruptcy proceedings, can pay more than 30 employees a collective $1.6 million as a retention award. 

And Voyager filed for this authorization earlier this month. Now, obviously, a decision like this may anger some people. Like, why did those employees get their money first? Well, in a direct quote from one of Voyager's lawyers, he says, this program does not involve the senior management team, and data about these individuals would typically not exist in the public domain. We see that the motion to seal has not been opposed by any creditors, shareholders, or economic stakeholders. The information has not been withheld from anybody who asked for it. 

And, by the way, Voyager originally filed to pay 38 employees a collective $1.9 million, but some employees have since left. And, of course, last but not least, even though they're paying these employees over a million dollars, Slade said the company plan to implement cost-cutting measures over the next month, which would lead to a $4.6 million annual savings. As more information comes out of this Voyager debacle, I'll keep you updated.

Algorand

But the next piece of news involving Algorand. opulous announces key investment from Algorand Foundation. So layer one blockchain at least the foundation behind it has made a strategic investment. And just as a reminder, what is Opulous? One of the first businesses that allow everyone to invest in music was Opulous. Now, a year later, they're continuing to deliver on this promise, making MFTS (Music Fungible Tokens) power available to musicians everywhere. And in a direct quote on why Algorand chose to invest ditto Music's history, the company behind Opulous as a music disruptor speaks for itself. 

And with Opulous, the team has repeated the feat. Opulous's rapid growth will be made possible via Algorand Scalability. Algorand is committed to sustainability in all aspects of business, including the development of artists and other producers. And we know Populist share this sentiment very cool. To get this quote from the Al Grand Foundation.

Shib

Shib jumps 9% as Token burn Intensifies so, this may sound crazy to you. This sounds crazy to me that Shib is the 12th largest cryptocurrency and has a market cap of over $8 billion and currently trades at fractions of a fraction of a penny. So it's huge, it's a high-cap coin, and why has it been pumping recently? Shib's upwards price action is primarily a result of a spike in the token burn rate earlier this week. And expectations are on the launch of Shibarium, a layer two blockchain to be launched by Shiba Inu so much like ETH has polygon for a layer two. 

Shib, I guess. Has shibarium. Shibarium. Nearly 110,000,000 ship tokens have been burned over the last 24 hours and 40% of the total ship supply has been burned to date. Interesting. What do you think? To me, I would never invest in Shib. I think this is only going out of the top twelve out of the top 20 or 50. I think this is going lower compared to the rest of the market over the long term. But obviously, some people disagree. Time will tell.

Polygon

Polygon founder Sandeep raises $50 million for a Web Three fund. And why is this significant? Well, Sandeep's venture firm Symbolic Capital is backed by cryptocurrency protocols, exchanges, crypto-focused auditing firms,, and other venture capital investors. So some of the creams of the crop and Symbolics Fund have already invested in three blockchain-focused gaming startups blink, Moon, Planet Mojo, and Community Gaming. I've never heard of these, but again, the point is, even though prices are going down, coins are consolidating, the smart money is taking out their positions in Web Three today and thinking about ranking long term.


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