Start your week with the only CT roundup you'll need — from Gainzy-Rollbit drama to CT's reaction to Elon banning Substack links.
Gm,
Wouldn’t it be cool if you could make one tweet and earn hundreds of thousands of dollars with it?
You can! You just have to become a Crypto Twitter influenza.
Yup, there was some juicy drama again last week on Twitter dot com. But you didn’t expect any less, did you?
Whose Threads Are a Must-Read?
Getting the educational resources out of the way first. Since you surely know that the Shanghai Upgrade is coming and have read our Guide to ETH Liquid Staking Derivatives, you feel well-informed about the upcoming Ethereum upgrade.
But you can never be too well-informed, and Thor Hartivgsen put together an updated thread about the ETH LSD narrative:
He covered:
- Hot LSD protocols.
- An update about staked ETH
- A comparative analysis of the market
Since Shanghai is only a week away, you should check that out.
And since Shanghai will probably dominate the news cycle next week, now’s the time to refresh your news trading skills. Good thing, Tree of Alpha covered the art and skill of trading news in his thread:
If you did not make money with the DOGE pump last week, you should give that thread a look. But we’ll get to Dogecoin in a bit…
It can be hard to find credible alpha in the jungle of Crypto Twitter. The bigger the account, the harder it is to know if there is a conflict of interest. Small accounts often have better alpha. But how can you find good small accounts?
Deebs Defi put together a great list of small account threadors in crypto. Even better, he listed their audience size, engagement and publishing schedule. Great work:
Opensea has taken quite a beating in the NFT marketplace war against Blur. Last week, Opensea tried to strike back with the launch of its NFT aggregator, Opensea Pro. But is that enough to regain market share from Blur? Wale.swoosh explains it here in his explainer thread about Opensea:
Last but not least. We haven’t talked about macro in a while, but it’s still there. Bitcoin has been stuck at the $28K resistance. Are we going up or down from here?
That’s what CroesusBTC explains in his 7 most important charts in macro right now:
Now that you learned something, let’s move on to the juicier parts of this round-up. This way please…
Who Is Arguing in Way Too Public a Place?
If you remember last week’s drama between Gainzy, Rollbit and dumping allegations, good job. If you haven’t read it (shame on you), here’s the TLDR:
Gainzy was accused of dumping RLB, which he partnered with, on his followers but half-cleared his name.
Now if that wasn’t enough, Rollbit continues to be the main character protocol of Crypto Twitter right now. First, FatManTerra came out with the classic “protocol pays influencers to shill for them” one-two punch:
Obviously, there was a counter to that coming from Rollbit itself. Here’s the lengthy rebuttal of all the FUD Rollbit has been facing over the last weeks:
And if you don’t fancy reading it, here’s a TLDR:
- Grizzly (the main FUDder) has a shady history with potential scams and NFT rug pulls.
- On top of that, he works for a competitor, so there’s a conflict of interest.
- And then he deleted some old FUD tweets.
Crypto Twitter making Latin American telenovelas look like a dusty old book!
Who’s right and who’s wrong here?
No idea. But you bet there will be a good plot twist in the next episode.
This section was supposed to be this week’s drama pinnacle, but that was before Elon smacked Substack in the face. Here’s the main event…
Elon Building Twitter
In the never-ending saga of “Elon buys Twitter with debt he’d rather not take on and infuriates most of its users by trying to fix it,” we got a brand new episode delivered late Friday evening. Turns out that Twitter and Substack are no longer friends:
Shots fired. Elon went after Substack with the entire might of his free speech banhammer.
The irony was not lost on those who remember:
Unsurprisingly, this caused outrage across all niches on Twitter. But let’s ask a well-respected macro expert what she thinks about this move Elon pulled. Surely, he had a good reason for it?
Pure savagery. But Lyn wasn’t done yet:
A brutal takedown if you’ve ever seen one.
Coming from someone that is known for their measured and objective takes, that says something. Elon’s opinion may or may not be accurately described by this meme:
He eventually did respond to the dumpster fire with this explanation:
More to come for sure in this one.
Wisdom of the Week
Phew. That’s been quite the rollercoaster already. Time to take a breather and remind ourselves that this is the bear market we are in. Imagine how crazy things will get from here. Just stick around and don’t be stupid and you will make it:
Talk of the Town
It’d be cool to say that was all the drama for last week, but nuh-uh, it was not. This one, we won’t even count:
That came before the Substack drama. Look, it’s been a long week. All there is to know about the Doge pump is explained here. And by the way, the logo is back to the bird. For now.
The real drama came with another one-two punch. The shot was Arbitrum trying to govern itself to $1 billion of budget from the Arbitrum DAO:
Who could have guessed this wouldn’t go well? Absolutely no one, of course.
In the end, Arbitrum backtracked on the proposal and came out with an alternative that is up for voting now:
The chaser, however, was Crypto Twitter single-handedly tanking the BTC price by $1K. Popular influencer Cobie tweeted a hashed version of a wrong rumor that CZ is on an Interpol list. An explanation of what happened exactly:
This was, of course, not true. And CZ doesn’t take kindly to FUDs:
Cobie himself was completely oblivious to the fact he just engaged in market manipulation and pissed off half of CT with a liquidation wick.
Good times!
And yes, that’s all the drama for this week. Finally.
Our Favorite Coinfession
The signs are often there, you just have to read them right:
That’s all for this week. Get some rest and get ready for another crazy week soon.
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