Meet Me in Miami
Happy Friday. Wanna go to Disneyland? Well, get in line (the slow one). Those eager to eat sixteen-dollar mac n’ cheese again were put in a virtual waiting room for several hours when tickets went on sale yesterday morning. Still easier than finding a PS5…
🖼 Love em’ or hate em’— NFTs are here to stay
🐕 Every doge has its day
⚡️ ThorChain steals the thunder, saves universe from Thanos (too much?)
Quick Bites 🍣
The world’s youngest crypto YouTuber, Lily Knight, interviewed Bitcoin superfan and $MSTR founder Michael Saylor. Lily’s video explaining Bitcoin with Skittles is what initially took the three-year old toddler hodler viral, garnering reactions from Mr. Saylor and a Winklevoss twin.
Miami nightclub E11even is set to re-open as the first nightclub to accept Bitcoin, checking another box on Miami’s master plan to attract next-gen Fintech. Crypto-thirsty Miami has already allowed government pay in Bitcoin, named the Heat’s arena after a crypto exchange (FTX Arena), and passed a resolution for Miami-Dade residents to pay taxes in crypto. Is this what Cryptopia looks like?
SushiSwap, a decentralized cryptocurrency exchange known for its robust yield farming, donated $50,000 USD worth of Ethereum to the charity No Kid Hungry.
Hollywood Goes Non-Fungible 🎥
Clerks filmmaker Kevin Smith is poised to enter the NFT history books by selling his latest horror film as an NFT, titled Killroy Was Here. The winner of the auction will receive the rights to exhibit, stream, or distribute the film. Last time something like this happened we lost a WuTang double album to pharma-bro fraudster Martin Shkreli.
"I’ve earned money off of Jay and Silent Bob for years now, so it’s nice to provide a licensed place where others can do the same.” — Smith
The film, centering around an antique WWII era viral meme, stars Ryan O'Nan, Azita Ghanizada and pro-wrestler Chris Jericho working within a tight budget of “less than a million.” The movie drops (kind of) April 21st. (Seems like there was a missed opportunity with that date.)
The real horror here is that no one kills off Jay and Silent Bob.
Other Notable Celeb NFT Endeavors
Who Let The $DOGE Out 📈
Elon Musk’s favorite thing to talk about has risen 300% in a week as of yesterday, topping out at an all time high of .29 cents. Much wow.
Some Dogecoin stats to make you cry:
YTD gains on DOGE are over 5000%
DOGE is up more than 12,000% since the Coronavirus dip last march
Some big names surpassed by DOGE today include Uniswap, Chainlink and Litecoin
Some reasons on why Dogecoin has had the run it’s had in the past year: from the affectionate hype, to celebrities like Elon Musk making it their favorite talking point, to 70 IQ “smooth brain” trades being a self-aware trend.
But we wanna know really why.
Like the stock market, the crypto market is mostly moved by “whales” (people or entities who have a ton of money and can cause big moves on their own) and a lot of these whales are quant funds that analyze the price action of Bitcoin to a T, then pile into alt-coins when they look cheap compared to Bitcoin. This strategy has been perfected over time, and is all based on the recent price action, even if nothing has fundamentally changed about the token. That’s why coins like DOGE that have no real utility will pump right after Bitcoin finishes it’s pump, and vice-versa. This phenomenon, Elon’s tweets, and Slim Jim changing their marketing strategy to “talk about Dogecoin”, were a perfect storm for DOGE to go on an absolute tear. Can the doggo keep it up?
No Plans to Die Today ⚡️
Perhaps the second-biggest event in crypto this week went a little under the radar ‘cause—well you already know, that Coinbase thing that you couldn’t not hear about if you tried. That didn’t stop ThorChain ($RUNE) from smashing through all-time highs on the announcement of its release this past Tuesday. RUNE is up 14733.4% in the past year.
Why is $RUNE a Big Deal?
Remember last edition when we said that we’re rooting for Decentralized Exchanges here at Zoomer Money? Thorchain is one of them! (You did open our last edition, right?)
You’ve probably heard of Uniswap and Sushiswap, the two biggest decentralized exchanges which already have dApps that you can use to trade ERC-20 (Ethereum Network) tokens on, and provide liquidity. However, Thorchain is different because it allows users to trade tokens on a decentralized exchange across different blockchains, without the need for bridging or wrapping—this is a big deal!
Let’s break it down. UniSwap and SushiSwap only support the trading of Ethereum-based (ERC-20 protocol) tokens. For example, if you wanted to trade your $ETH for Binance’s $BNB (for some reason) you couldn’t do that on a decentralized exchange before Thorchain launched, because $BNB is not an ERC-20 token, and therefore not on UniSwap or SushiSwap. Being able to trade natively across blockchains is a huge leap because it un-fragments liquidity, benefitting traders as well as liquidity providers.