EVOLUTION-NINJA

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Envelope-to: ds@e24.com.au
Delivery-date: Fri, 26 Mar 2021 01:49:27 +1100
Date: Thu, 25 Mar 2021 14:48:10 +0000
Message-Id: <20210325144810.1.C07437C593950102@cio6690.unboxed.uphold.com>
To: ds@e24.com.au
From: Uphold Unboxed <newsletter@unboxed.uphold.com>
Subject: Hammer Drops, Cryptos Nailed
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*******************************
Crypto in grip of rocky descent
*******************************

MOVERS
------

8am EST 25th March 2021

Crypto: Biggest price rise
FIL3.76%

Equities: Biggest price rise
MA0.71%

Bitcoin
$52,543.14

Crypto: Biggest price loss
IOTA-15.13%

Equities: Biggest price loss
ROKU-4.88%

XRP
$0.49

Crypto: Biggest vol increase*
BTCO818.45%

Equities: Biggest vol increase*
TSLA-0.97%

Tesla
$633.78

Crypto: Biggest price rise
FIL3.76%

Equities: Biggest price rise
MA0.71%

Bitcoin
$52,543.14

Crypto: Biggest price loss
IOTA-15.13%

Equities: Biggest price loss
ROKU-4.88%

XRP
$0.49

Crypto: Biggest vol increase*
BTCO818.45%

Equities: Biggest vol increase*
TSLA-0.97%

Tesla
$633.78

*Volume bought in USD over the past 24 hours on the Uphold platform

WHAT'S UP
-------------

Latest NFT Boom: Venture Capital
--------------------------------

The non-fungible token flashover is truly the stuff of wild fires, with the=
 market experiencing nearly a 3,000% increase in volume just last month =E2=
=80=93 when more than $700 million worth of NFTs were sold.

A convergence of art, auction houses and tokenization technology has stoked=
 a bandwagon brimming with sports, media, music and all varieties of hustle=
s representing a rich range of intellectual property purveyors.

Quartz creating a story as a rare token seems naturally congruous; Time mag=
azine, not quite as much. Either way, the barn door has been blown off of i=
ts hinges.

Into the hay loft now climbs the venture capitalists loaded to the hilt wit=
h bags of seed.

Most recently, A16z, the Menlo Park, Calif.-based firm also known as Andree=
ssen Horowitz, led a $23-million round in OpenSea, the largest NFT marketpl=
ace.

In a Cointelegraph article, "Milking the cash cow," Joseph Young pointed ou=
t how blockchain-startup-backers Moonrock Capital now see NFTs as a horse o=
f a different color.

=E2=80=9CThe technology initially caught our interest a few years ago when =
CryptoKitties famously clogged the Ethereum network," said Simon Dedic, Moo=
nrock's managing partner.

But with this recent surge in popularity, he said, there are "obvious diffe=
rences.=E2=80=9D

WHAT'S DOWN
---------------

Whoa, What Just Happened?
-------------------------

Neither government stimulus nor Musk tweet could stave off a Thursday morni=
ng crypto-bludgeoning.

Bitcoin, as of 9 a.m. (EST), was on the verge of falling below $52,000, dec=
lining 8.5% in 24 hours. Less than one week ago, BTC was challenging a new =
all-time high.

Theta (THETA) seemed due for its comeuppance and news of mainnet launch del=
ays proved to be grounds for dumping, as THETA fell 10%.

Musk couldn't help DeFi either. Despite a cryptic cheek-kiss earlier today =
from the Tesla mogul (Don't defy Defi, he tweeted), the biggest coins conne=
cted with the space, such as Polkadot (DOT) and Uniswap (UNI), are getting =
crushed at the moment.

WHAT'S NEXT
---------------

Long-Term BTC Optimism Rooted In On-Chain Analysis
--------------------------------------------------

Elon Musk appears to have eyes for DeFi ( https://coingape.com/bitcoin-doge=
-elon-musk-set-pump-defi/ ), but, for Tesla's sake, stick to Bitcoin.

Because even though the near-term view may be cloud-obscured, the long-term=
 outlook for BTC seems bright. In their latest newsletter, Decentrader insi=
st BTC's run is hardly running out of steam (Cointelegraph). This optimism =
is rooted in the "HODL Wave" indicator, showing that more and more investor=
s are holding, or hodling, BTC for the long term =E2=80=94 one year or more=
 =E2=80=93 providing a veritable steel-plated floor.

"The 1Yr+ HODL Wave suggests that Bitcoin should comfortably reach the $100=
,000 level during this cycle," Decentrader said.

FOCUS
-----

Range Of Players Bet On Retail Crypto Surge
-------------------------------------------

Whether retail investors rush headlong into crypto remains to be seen, but =
major financial players =E2=80=93 and tennis players, for that matter =E2=
=80=93 are betting on it.

Serena Williams just helped seed Lolli, a Bitcoin-based rewards-platform fo=
r online shoppers. Fidelity Investments, meanwhile, just filed a Bitcoin ET=
F proposal with the SEC.

An expected retail crypto spike in the wake of stimulus has at best had a n=
egligible impact (CryptoBriefing ( https://cryptobriefing.com/fidelity-inve=
stments-files-bitcoin-etf-application/ )).

In an interview with Bloomberg, Ed Tilly, CEO, Cboe Global Markets, parent,=
 Chicago Board Options Exchange, said the CBOE is still interested in crypt=
o despite bailing out on it not too long ago.

The CBOE was first North American exchange to list BTC futures back in late=
 2017. But within a couple of years the product was shelved. "We haven=E2=
=80=99t given up," Tilly said. "We=E2=80=99re keen on building out the enti=
re platform. There=E2=80=99s a lot of demand from retail and institutions, =
andwe need to be there ( https://www.youtube.com/watch?v=3Dsm7flMpKK5Y ).=
=E2=80=9D

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