🧠 Gifting our readers! 'Tis the season

Happy holiday szn Seedphrase 👋 Welcome back to Technical Tuesday, where we explain chart go up & chart go down so simply our grandma gets it.

Today’s Agenda: 📓

• 🔥 Hot off the Press

• 🎁 Amazon Gift Cards for Seedphrase Nation

• 🔬 Elevate your Crypto Knowledge

• 📈 The One Shining Star in Crypto

• 😂 Meme of the Day

🔥 Hot off the Press

Binance.US Will Acquire Voyager’s Assets

Remember Voyager Digital, the crypto lending firm that went bust back in July?

A look back in time:

They discussed Voyager filing bankruptcy & the $500M credit SBF gave to Voyager:

"If SBF is out $500M....that's a real number. But he doesn't seem that worried, Sam. He's confident...if he had a haircut and put on a tie then would he be worried?" - Cramer

Oh, you mean like this Jim?

Back then, SBF "acquired" Voyager's assets for for $51M.

Now, Binance.US has stepped in:

• Paying $20M for the right to acquire Voyager's 3.5M customer accounts

• Funds will be dispersed to Voyager clients to make them whole.

• Then, Binance has to figure out how to keep 3.5M new client accounts on their platform, instead of running for the hills.

We're rooting for Binance's success & the good faith reimbursement of clients, but we're recovering from some FTXD PTSD.

YUGA Labs Gets a New CEO

Yeah... we didn't think the Yuga CEO would look like that either, but hennything can happen in Web3.

Joke aside, Daniel Alegre is a gaming legend. He's an executive that oversaw World of Warcraft, Call of Duty, and Candy Crush. Plus, he worked at Google for 16 years.

This development takes the Otherside metaverse another step closer to becoming the Godzilla of all metaverses.

🎁 Did Someone Say Free Amazon Gift Card?

We did!

In the spirit of giving season, we're giving out two $25 Amazon gift cards to you, our Seedphrase Family.

➡️ To enter:

1. Submit a review of Seedphrase in the box below. Select a rating, then make sure to enter your comments when prompted! (no comments = no submission.)

2. OR Tweet @ us your review of Seedphrase!

3. Do both to be entered twice!

Winners will be announced this Friday, just in time for the holidays. 🎄 🕎

🔬 Elevate Your Crypto Knowledge

If you feel confused by certain terms, concepts, or charts- stop that ya silly goose.

We're releasing a crypto dictionary next week to make this sh*t even easier for you.

Submit your questions here so we can answer them:

Today We Cover:

• BTC and ETH Charts

• Correlation between Bitcoin and the U.S. Dollar.

• BTC Miner Revenue.

• Open Interest & Perpetual Futures Contracts

• Proof of Reserves

Let’s commence.

The Correlation between Bitcoin and the U.S. dollar. 🤝

An inverse relationship between BTC and the U.S. dollar has been consistent over the years.

Meaning they move in opposite directions.

Dollar go up ↑ = BTC go down ↓

BTC moves with equity markets like S&P 500, NASDAQ and, to our surprise, copper.

You must be asking yourself, what's the correlation between BTC and copper?

Good questions. Copper is a metal used for many products, including our friendly BTC miners putting the hash rates on their backs.

Correlation between BTC and ETH.

ETH and BTC have seen a strong pricing relationship and move consistently with each other.

BTC go up ↑ = ETH go up ↑

This can be put in a general context for the crypto market as a whole. If BTC moves in a specific direction, it will impact the rest of the players because it’s a dominating force of liquidity in the market.

BTC miner revenue. ⛏

Mining companies' stock prices fell big time on Monday.

Taking a further hit from stagnant/sideways BTC movement.

BTC's hash rate is falling, meaning mining companies are likely reducing their operation or, worse, going under.

Open Interest & Perpetual Futures Contracts 📝

This is a metric to measure how active traders are.

It tells us the number of open positions (including long/short positions) currently on a derivative exchange's BTC/USD trading pair.

Simply: its how much $$ people owe exchanges (degens and seasoned traders alike).

Perpetual futures contracts are the means people use to open long/short positions.

Binance

ETH: Futures went down by nearly 300 million from last week!BTC: Futures have cut in HALF, from 14,183,097,175 last week to 7,493,690,131 now.

The slowdown of trading at Binance is due to the FUD surrounding their proof of reserves.

Why should you care about trading? Well, Binance owns 60% of the derivatives market. If trading continues to tank on Binance, the crypto ecosystem is in trouble.

Measuring this stat can help us predict before a disaster hits us in the face.

Kraken

ETH: On 12/13, it was 9,668,219, and this week has increased to 13,549,648. BTC: Has not made any significant changes.

The status quo from last week has not seen significant change. Essentially, most are staying out of the markets and are treading water.

Those who stay seem committed to their positions.

Proof of Reserves 🏦

BTC has hit a 4-year low of 2,243,397.552!

Since the end of October, we have seen a steep decline in BTC on exchanges. Distrust of exchanges --> crypto moves OFF the exchange into cold storage. It's not exactly a bad sign, but its not great either.

ETH balance on exchanges has hit a four-year low of 19,337,716.876

Just like Bitcoin, ETH saw a dramatic decrease in mid-October.

Moving off the exchanges means people are HODLING tight to their ETH and BTC, putting it a secure long term cold storage rather than risky exchanges.

Something to be Bullish on 📈

Optimism hits ATH in daily transactions! 😱

Despite the surrounding noise, $OP has been holding it down during the bear market.

Learn why here.

Daily Active Users in Web3 👥

Look at this the next time you feel alone and hopeless, building on the blockchain.

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😂 Meme of the DayEasy entry.

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research