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  • Crypto Alpha - 20 November 2024

Crypto Alpha - 20 November 2024

Daily Alpha on All Things Crypto, Web3 and Blockchain

TL;DR

  • Tether’s Billion-Dollar Morning Brew

  • Michael Saylor Meets Microsoft: Bitcoin Pitch Incoming

  • ai16z ELIZA Airdrop: It’s Raining Tokens

  • Grayscale: Tomorrow’s Mini BTC Party Awaits

  • DOGE Gets Serious with Tax Filing App?

  • Upbit’s Double Feature: JASMY and NCT

  • Bitcoin ETF Nets $815M: Bullish or Boring?

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Alpha of the Day

Tether’s Billion-Dollar Morning Brew

Tether is at it again, firing up its virtual money printer to churn out an extra 1 billion USDT on Ethereum. Early risers might call it breakfast for the blockchain. While critics argue about centralization risks, crypto fans seem unbothered, as long as the liquidity keeps flowing. This move could mean big plans for Tether, or maybe they’re just prepping for another wave of DeFi action. Either way, this freshly minted stash is now part of the Ethereum ecosystem, ready to fuel trades, swaps, and maybe a few midnight degens.

Michael Saylor Meets Microsoft: Bitcoin Pitch Incoming

In what might be the PowerPoint presentation of the century, Michael Saylor is set to advise Microsoft’s board on how to dive deeper into Bitcoin. Imagine Satya Nadella nodding along as Saylor lays out a strategy that sounds less like corporate finance and more like crypto evangelism. If MicroStrategy’s Bitcoin obsession wasn’t enough of a flex, Saylor pitching to Microsoft is next-level. Will Microsoft soon announce a treasury of Bitcoin or just a Surface device made for crypto mining? Stay tuned!

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ai16z ELIZA Airdrop: It’s Raining Tokens

ai16z partner Shaw dropped the mic—or rather, the tokens—announcing the official launch of the ELIZA airdrop for lucky ai16zeliza holders. This isn’t just any airdrop; it’s like getting an extra dessert you didn’t order. For token holders, it’s Christmas in November, and for the rest of us, it’s FOMO on steroids. As crypto Twitter scrambles to figure out what ELIZA does, the holders are busy counting their newfound blessings—or profits.

Grayscale: Tomorrow’s Mini BTC Party Awaits

Grayscale is upping its game by rolling out options trading for GBTC and mini BTC. This is the financial equivalent of adding hot sauce to your crypto portfolio. Now traders can play with leverage and hedge like Wall Street pros, only with way more volatility. Whether this brings more liquidity or more chaos is anyone’s guess, but one thing is clear: Grayscale is determined to keep the crypto markets spicy.

DOGE Gets Serious with Tax Filing App?

Yes, you heard that right. Sources claim the Department of Government Efficiency (DOGE) is considering a mobile app for tax filing. Is this efficiency or irony? DOGE, which sounds more like a meme coin than a government department, might just revolutionize how you file your taxes—no paper forms, just swipes and clicks. If this app becomes a reality, will refunds come in DOGEcoin? Probably not, but we can dream.

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Upbit’s Double Feature: JASMY and NCT

Upbit is adding two new stars to its lineup: JASMY and NCT. This move signals another step forward for the platform, keeping its users entertained with fresh trading options. While JASMY brings IoT vibes and NCT focuses on AI-powered tools, the real excitement is in watching traders scramble to get in early. Upbit’s expanding repertoire shows it’s not just keeping up with the competition—it’s dancing circles around them.

Bitcoin ETF Nets $815M: Bullish or Boring?

The U.S. spot Bitcoin ETF saw a whopping $815 million in net inflows yesterday, proving that institutional interest is alive and well. Some might call it a bullish signal; others might say it’s just a Monday. Either way, it’s a massive injection of capital into crypto’s favorite ETF, and it has traders buzzing. Whether this means more stability or just more room for whales to splash around, one thing is for sure: the Bitcoin ETF isn’t just a fad.

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