Bitcoin breaks $30K 👀

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GM and happy Tuesday. It’s April. The trees are sprouting. The flowers are blossoming. The air is warming. And mint SZN is upon us.

Today’s specials:

Total Supply Tuesday 📈 – Bitcoin breaks $30K 📈

NFT Power Rankings – Seizon in the top spot🥇

No FOMO – Ethereum’s Shanghai Update 👀

No FOMO – April’s Creator Spotlight 🎨

NFT Power Breaking News - Metamask launches new fiat function

You Raised? – $251 million total last week 💰

Total Supply Tuesday  📈

Bitcoin rallied over $30K Tuesday morning as Ethereum completes its Merge this week, prompting another wave of speculation about the Bitcoin-Ethereum rivalry.

Why is Bitcoin pumping again?

Notorious Bitcoin zealot Pomp might be on to something. He tweeted, “there are more than 2,700,000 bitcoin lost, forgotten, or in the hands of the most disciplined investors in the world.”

With much of Bitcoin stuck in the ethers of forever cryptoland, scarcity will be a major talking point for price pumps.

His analysis continued:

• More than 1 out of every 2 bitcoin in circulation has not moved in the last two years (recently hit a new ATH)

• Almost 29% of all bitcoin in circulation have not moved in the last five years. That is > $150 billion in market cap that hasn't moved in half a decade.

This tells us two things about Bitcoin.

1. A large percentage of holders don’t like trading Bitcoin. They see it as a store of value.

2. According to Merriam-Webster, a currency is something that is in circulation as a medium of exchange. If 30+% of Bitcoin never moves, is it a currency or an asset? 🤔

🔥 NFT Power Rankings 🔥

(Below .25eth)

1. Seizon🥇

2. The Plague🥈

3. Alien Frens🥉

4. Genuine Undead

5. Cryptoon Goonz

6. Meet Nippy

7. ApeReunuon

8. Spaceriders

9. Froggy Friends

10. Roo troop

What’s missing👇

Seizon has taken the market by storm over the last few weeks and currently has more twitter engagement than any project in the space.

With a fresh art reveal and a rabid community, we expect this project to end .25eth soon.

The Plague has had some hiccups since its contract migration, but at the end of the day, this is one of the best communities to be a part of in web3.

With multiple projects about to launch from their frog tank program soon (including Swamp Water, their craft beer sponsored by sappy seals and influencer notthreadguy), we expect this project to find its footing once again and get back to an ATH in the coming weeks.

Alien frens is a classic NFT project and has absolutely no business being this low of a floor price. They just introduced new rewards for burning their incubators, and their marketplace is always sold out, which leads us to believe this project is aggressively undervalued.

If we were you, we would be watching this project for an entry in the coming days/weeks and making sure you have a piece before they reclaim their former glory.

Ethereum’s Shanghai Update 👀

19:27 EST April 12, 2023, marks the completion of “The Merge” and Ethereum’s full transition to a Proof-of-Stake (PoS) network.

The move away from mining has cut ETH’s energy consumption by at least 99.84%, according to some reports. The community response has leaned more negative, pointing to staked ETH unlocking as a potential short-term sell-off.

Short-term bearish, long-term bullish.

🎨 April’s Creator Spotlight 🎨

1. Kloss

Why we like Kloss: His content is refreshingly honest. And Pychedelics is truly a ground-up community making a credible name in the space.

2. Minty

Why we don’t hate Minty: Mans got bars.

3. Jack Butcher

Why Jack tickles our fancy: He’s a renaissance painter living in the year 2050.

4. Rising Star: Thomas Pan

Why Thomas is rising and not risen:

His content is highly informative, and he just accepted a bada$$ (stealthy) role at a prominent L1. Yet he only has 3K followers! Let’s pump that up 📈📈📈

NFT POWER BREAKING NEWS 📰

• MetaMask launches new fiat purchase function for cryptocurrency (Cointelegraph)

• Justice Dept. Seizes Over $112M in Funds Linked to Cryptocurrency Investment Schemes (US GOV)

• Crypto exchange Huobi returns to profitability in Q1 after restructuring (Cointelegraph)

• Majority of US Adults View Crypto as Unsafe, Survey Says (Blockworks)

• Why Crypto Is Watching Ethereum’s ‘Shanghai’ Upgrade (Bloomberg)

• Former FTX US President Reportedly Quit After ‘Protracted Disagreement’ With Bankman-Fried (Coindesk)

• Bill protecting Bitcoin mining rights passes in Arkansas Senate and House (Cointelegraph)

• Crypto Bills Didn’t Die Last Session: Lawmakers Plot Reintroductions (Blockworks)

💰You Raised?💰

• AI-Focused Blockchain CryptoGPT Raises $10M Funding at $250M Valuation (Coindesk)

• Blockchain scaling startup Opside raises $4M to expand its ZK-rollup-as-a-service platform (Cointelegraph)

• LayerZero Locks Down $120M in Fresh Funding for APAC Gaming Push (Blockworks)

Crypto startup fundraising picked up last week with 18 different companies bringing in approximately $251 million total. Here are a few highlights:

Shameless Shill + Alpha

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