GM 👋 this is Seedphrase, we’re like your crypto coach year-round, giving you the stories and information to win every day like its a game. Go ahead All star.

📓 Today’s Agenda:

• 🔥 Hot Headlines

• 📈 Macro overview: Crypto Gigasend?

• 🔊 ETH Me out

• 🐕 Shiba Dump

• 🪙 Coin of the Week

📉 Crypto & The Markets:

• Belgium is set to require all cryptocurrency ads to state, “the only guarantee in crypto is a risk." - Learn More

• Microsoft Edge will soon provide a built-in crypto swap feature between ETH, DAI, UNI, USDC, and USDT - See How

• Polygon announces the launch of an upcoming zkEVM MATIC staked chain in partnership with Immutable - Learn More

• Ark Invest’s Yassine Elmandjra states that cryptocurrency is a safe haven in the face of the U.S. and European banking crises - Learn More

🖼️ NFTs:

• 76 BAYC are under threat of triggering a BendDAO auction slide if the floor goes 10% lower (i.e., to 56.9 ETH) - Learn More

• OpenSea’s user base has dropped 60% since the launch of Blur, likely off the back of airdrop incentives - See How

• Bitcoin Ordinals reach over half a million Inscriptions, with 40% of inscriptions being text-based - Learn More

• Pudgy Penguins announce Pudgy NYC, an immersive and interactive Pudgy Penguins experience at The Lightbox - Check it Out

📈 CRYPTO GIGA SEND

What’s happening: Over the weekend, BTC and ETH hit a relative high of $28.5K and $1.85K, respectively. This was the highest green daily candle close for Bitcoin since June 2022.

Dont worry; you aren’t the only one who continues to fade generational wealth.

Many believe this pump came from the developing narrative of distrust in the traditional banking system. So logically, the next best place to store your wealth is in magically internet money!

Why you should care: Besides the casual banking system collapse, there is a growing narrative that most of this pump is because of Wednesday's upcoming Federal Open Market Committee (FOMC) rate hike decision.

The expectation? A rate hike decision of 25bps.

If true, this would be the second 25bps hike in a row. Many traders believe this hike is currently priced in, which could result in a sell-the-news event.

The TLDR: Decreased trading volume leading up to the Fed meeting supports the theory of a sell-the-news event. What could possibly go wrong? If the rates are hiked more than expected could cause a sell-off across the board.

Never be afraid to take profits, and don’t be the sucker that turns into exit liquidity!

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🔊 ETH ME OUT

Ethereum’s total supply change since the ETH 2.0 merge is -67,026 ETH. When writing, that equals $116M in ETH burned.

This is a rare occasion where down only is a good thing!

1️⃣ Ethereum’s price change is +4.55% over the last seven days. That makes ETH the third top performer within the top 10 behind Bitcoin and Solana, which are both up double digits on the week.

2️⃣ Total ETH staked in the ETH 2.0 contracts reaches a high of 17.7M ETH, equalling $31 Billion in total USD staked. (Someone tell Vitalik to share the wealth?)

3️⃣ Ethereum Active Addresses is now hovering around the 400,000 mark. The address count seems to move with the price of $ETH, which explains the recent rebound in activity as ETH nears $1,800

🐕 SHIBA DUMP!?

What’s happening? Shiba Inu's $SHIB price fell 10% in 24 hours due to drama surrounding the codebase of the upcoming Shibarium blockchain.

If you didn’t know: The Shibarium Blockchain is an upcoming L2 for the Shiba Inu ecosystem.

The main complaints stemmed from a community member calling out the Shibarium beta testnet for using the same Chain ID as the Rinia testnet.

What does this mean? The Developers copied Rinia’s homework but changed a few words so it wouldn't be noticeable.

Why you should care: The meme coin community highly anticipated the launch of the Shibarium blockchain. However, the concerns around the copied Chain ID halted its excitement, as shown by the price action of SHIB, BONE, and LEASH.

Honestly, we never thought of the Shiba Ina community as very tech-savvy (to say the least). However, this highlights the importance of proper blockchain development and the potential risks of launching a project in Crypto/Web3.

Seedphrase Take: This is a testament to the growing standards in the Web3 community. Remember that you will almost always be sniffed and exposed if you take the easy way out, especially in this space!

🪙 COIN OF THE WEEK ($STX)

Yup, we’re covering this again because it’s up 50% since we covered it 3 weeks ago!

What is Stacks?: Stacks enables the use of smart contracts and decentralized applications on the Bitcoin network.

Stacks blocks are secured 100% by Bitcoin hash power thanks to their Proof of transfer consensus mechanism.

Fun Fact: An attacker would have to reorganize Bitcoin to re-order blocks/transactions on Stacks (AKA - Impossible).

If you want a more technical deep dive, Check this out.

Why did it pump?: Stacks is this week's best performer within the top 50 cryptocurrencies, up 50% at the time of writing.

A lot of attention has been on Bitcoin over the last week because of reasons explained in the previous segment. However, with the recent rise of Bitcoin Ordinals, Bitcoin has earned itself an entirely new set of eyeballs.

FYI: A recently hyped Bitcoin Ordinals drop was BTC DeGods, which raised over $4.5 Million in 1 day. Check them out

Whos the Team?: Stacks was founded by a man name Muneeb in 2017. Muneeb graduated with a Ph.D. in distributed systems from Prinsten, where he released the original Stacks whitepaper AND raised $50M

Then there is me, just trying to make it through college chemistry!

🟢 Current Price: $1.21
🟠 Market Cap: $1,660,045,106
🔴 24hr Volume: $550,051,165
➡️ Where to buy: Binance, Coinbase, KuCoin, Kraken, Huobi

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😂 Meme of the day:

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.