🚀 The Dogening
Doge Wars, Bidding Battles, Drugs Win
May 12th, 2021 | Sign Up
Good Morning. It’s been hard to focus among the Doge madness, pop in the discord to see the crypto-conversation unfold in real-time.
⬆️ Bitcoin: $56,670 ( +1.53%)
⬆️ Ethereum: $4,173 ( +5.77%)
⬇️ Dogecoin: $0.4940 ( -9.60%)
🚀 Yearn Finance: $82,885 ( +32.77%)
🚀 SushiSwap: $17.59 ( +15.27%)
Prices as of 11 PM EST 05/11, data from FTX.com
Markets: Futures fall, with tech leading the selloff. Everyone is bracing for the consumer price index releasing today, which is expected to show record inflation. Ethereum made new highs.
Covid: Three of the NY Yankees coaching staff have tested positive for COVID-19, all of which had already been fully vaccinated. These “breakthrough” come after most of the Yankees and staff received the Johnson & Johnson vaccine on April 7th.
Planatir, maker of analytics tools and software for the defense industry reported earnings yesterday. Other than beating estimates, the CFO said the company was considering adopting the buy-Bitcoin business model
Stimulus payments distributed to Japanese citizens went mostly to savings, instead of degenerate Robinhood gambling like their American counterparts
Job openings hit the highest levels ever in March
Coinbase reaches #1 on the app store for the first time since 2017
The Year of the Doggo 🌔
So. Many. Dogs. (much wow?)
Yes, this is the second newsletter in a row that we’ve spotlighted dog meme coins. The simulation just keeps getting weirder and weirder.
DeFi protocol Yearn Finance decided to capitalize on the dog token hype with core developer Banteg unveiling $WOOFY, a dog token that is pegged to the value of Yearn’s more expensive governance token—$YFI—but priced at 0.09. Shortly after WOOFY’s debut, YFI reached all time highs of over $90,000 per one YFI at its highest point.
Other dog tokens reaching insane levels of volume:
Shiba Inu (SHIB)
Akita Inu (AKITA)
Doge Killer (LEASH)
Kishu Inu (KISHU)
Dogelon Mars (ELON)
Keanu Inu (KEANU)
How many dog tokens changed hands yesterday?
$1.55 billion dollars worth of different dog meme tokens were bought and sold on Tuesday. That’s more volume in one day than Uniswap’s entire first year of existence. 👀 Is this the top—or are cat tokens next? Snek tokens?
Ebay’s NFT Debut 🛍
Yesterday Ebay’s announced it would be getting into the NFT game, allowing the sale and purchase of the digital collectibles. The first traditional e-commerce company to do so.
"In the coming months, eBay will add new capabilities that bring blockchain-driven collectibles to our platform," said Jordan Sweetnam, senior vice president and general manager for eBay's North America market
Just last week, eBay announced that they were “exploring NFT’s” and were open to accepting cryptocurrency in the future. It looks like the future is now, but it will be an uphill battle even a multi-billion dollar company with experience in collectible sales. The company will have to depend on its user-friendly interface to compete with with dozens of crypto native NFT marketplaces already out there. Let the bidding war begin!
Our version of the crossword puzzle, but with emojis and uh, …no crossing.
🐦 + 👏 + ⏮ = ???
🦖 + 👊 + 🦍 = ???
🐃 + 🔥 + 🍗 = ???
🍎 + 💻 + 👆 = ???
🇺🇸 + 🏝 + 🤙 = ???
Psychedelic Medicine Revolution 🍄
The study was the first phase-three clinical trial conducted with psychedelic-assisted therapy. Results from the study find that MDMA alongside counseling brought marked relief to patients with PTSD. This study comes after The New England Journal of Medicine shared the results of a similar study on the benefits of another psychedelic substance—psilocybin, or magic mushrooms.
MDMA’s status as a party drug has long eclipsed its original medical roots. Developed in 1912 by pharmaceutical company Merck, MDMA was briefly used in the 70’s as a psychotherapy treatment, with proponents of the drug saying it “allowed users to strip away habits and perceive the world clearly” and “eliminated the typical fear response and increased communication.”
Unlike conventional prescriptions for mental illness that are taken for years or even a lifetime to continuously see results, MDMA is only administered a few times.
The Future of Medicine
As the scientific community continues to push the boundaries of discovery, global health is within reach—and Zoomer Money is along for the trip!
Thanks for reading! 👋
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