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How BlackRock's Bitcoin Move Is Rewriting the Media Script 🖊️
will stauner
July 13, 2023
The Phenom Update
Welcome to the Phenom Crypto Update, your all-in-one source for staying ahead of the curve in the world of cryptocurrencies. We bring you the latest news, cutting-edge trends, and exclusive alpha alerts from the dynamic world of digital currencies curated by our elite Phenom Analysts..
Hey Phenoms,
Thanks for reading our 3rd Phenom Weekly Update! We are just getting started and we are excited that you are here with us! Our sole mission is to provide you value through market updates, interested trends and actionable incites. If you ever have any feedback we’d love to hear your thoughts. Simply reply to this email and tell us what you like, don’t like or just say hey.
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Protocol Preview
🟡 Y2K Finance
Sector: Derivatives
Fully Diluted Value (FDV): $20.7M
Ticker: Y2K
What is it:
Y2K Finance offers a platform where crypto traders can either safeguard against or bet on the chance that a certain asset might diverge from its supposed "fair implied value." To break it down, Y2K Finance has established a marketplace that provides insurance coverage for depegs. This offers anyone the opportunity to buy insurance against a depeg or sell insurance to generate premiums from traders.
Just select the stablecoin or liquid staking derivative for which you wish to offer or obtain insurance, then choose a maturity and strike price that suits your strategy. Be aware though, if you select a strike price that's further away from the underlying peg, it might be cheaper, but it also lessens your chances of receiving a payout!
Why it may be successful:
Y2K Finance's investment appeal really came into its own following the financial turmoil in March. When stablecoins like USDC and DAI deviated from their pegs, Y2K Finance's offerings started to provide payouts, and the importance of the protocol became evident.
Investing in protocols that flourish in tumultuous market conditions can add diversity to your portfolio and offer a degree of solace during the worst market downturns.
The BlackRock Effect
Remember when all the news outlets were screaming about how terrible Bitcoin mining was for the environment? Well the powers that be are reversing narrative. Since BlackRock filed for it’s Bitcoin ETF we are quickly seeing a change in the mainstream news narrative surrounding bitcoin.
In one week we’ve seen 4 different Forbes articles promoting bitcoin.
The quick reversal in narrative after all the disingenuous BS that was spewed for years once TradFi decides to show up to the party is frustrating but we will take all the positive promotion we can. Keep building your bags. Welcome to the winning side.
Meme of the Week
The Twitterverse
0/ 95 THESES for the second half of 2023.
I'm writing a comprehensive, mid-year check-in in a single day, 280 characters at a time. All day.
A lot happened in the first half of the year, and I have never been more bullish on crypto than I am now.
It's gonna be a big H2’23.
— Ryan Selkis 🪳 (@twobitidiot)
11:20 AM • Jul 11, 2023
Standard Chartered, an $820b multinational bank, has boosted its #bitcoin price forecast to $120,000 by the end of 2024.
They're also targeting $50k $BTC by the end of this year.
— Miles Deutscher (@milesdeutscher)
7:26 PM • Jul 10, 2023
Instead of quitting crypto during the bear market...
I made it my mission to double down on research and find the best DeFi projects.
Here is the culmination of 500+ hours of my analysis over the last 7 months.
Bullish shortlist for 2023 and beyond.
🐮 🧵
— Jake Pahor (@jake_pahor)
7:03 AM • Jul 11, 2023
Closing the ledger for now, but the crypto revolution continues. Stay curious, stay bold, and keep chasing those blockchain gains!
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