At the start of last month, it seemed that the market was trending up! It’s safe to say that most of us were blindsided by the sudden dump Bitcoin took below $50,000. We hope you were not badly affected by it. As it turns out, that dump may have provided a huge opportunity for those who had liquidity to take advantage of the bargain basement prices of all the top tier projects. Let’s hope the markets start to stabilise and trend upwards from here.
There are some bullish catalysts which may move the markets higher.
The US Presidential candidates have crypto front and centre of their campaign topics and this is bringing much needed “eyes” on the industry. A pro-crypto President will definitely see the markets making new All Time Highs by the end of the year.
The US Federal Reserve is expected to begin lowering interest rates in September and the rumours are they intend to start buying back Treasury bonds at 20 billion US dollars per month. This will bring the global liquidity back into the financial markets which is always bullish for crypto.
The liquidators at FTX have indicated that all creditors will receive 118% of the money they lost in the FTX collapse. This money will largely flow back into crypto as most of the creditors are crypto native.
Upcoming AMAs
We are in the final stages of locking in a date for an AMA with Credbull. Stay tuned on our socials for the announcement of the date. Credbull has really shifted gears with the marketing in recent weeks and their social footprint is growing fast. This is a great sign that TGE may be coming relatively soon.
Our Zealy Campaign for SUPRA token giveaway is still active and will continue until TGE or we reach 5000 followers on X, whichever happens first. So please, take part in it and stand to win 3 bags of SUPRA tokens. Here’s where to find all the information about it. SUPRA GIVEAWAY Medium Article (click the link).
Project Pools
As projects in our portfolio start to launch, the monthly distros of our various pools will continue to grow. As discussed in last month’s newsletter, Cornucopia’s File Nodes started earning rewards. The Nodes in our pool have all now been activated and we received the maximum rewards for our pool of 80 File Nodes. Although we can see the rewards in the dashboard, they are not yet claimable. Hopefully by the end of August, when we receive August’s rewards, we will be able to claim both July and August and distro these to our community.
We distro’d rewards for Myria and Entangle Pools. World Mobile and Shrapnel continue to earn rewards, but we have not done rewards distro’s on these two pools. The rewards are accumulating and will be distro’d when price appreciates for Shrapnel and early withdrawal penalties are lifted on World Mobile rewards. For now, you can view the accumulating rewards in the google sheets shared each month in the relevant topic in The Candy Shop.
Launches
CHIRP Network saw the launch of their mobile “move to earn” tracker, which promises great rewards for staying active daily. If you haven’t already, go ahead and download the app onto your phone. Both iOS and Android are supported. Follow the steps on their X thread which guides you through how to install the app and link your wallet to receive the rewards.
Nodeifi News
We are hoping to launch our new platform this month. Just before we launch the platform, we will be hosting an AMA on X to discuss how it all works with our community. When everything is finalised, we will post the date for the AMA and the date of the platform launch on our socials.
Through our OTC desk, we have noticed a resurgence of interest in Redbelly Network. This is largely due to the Real-World Asset (RWA) tokenisation narrative which is the hot new trend of 2024. Redbelly is pioneering the tokenisation of Real-World Assets while being fully compliant with relevant laws around the world. This will allow TradFi to embrace the Web3 innovations of blockchain and hopefully, take crypto mainstream.
A reminder to all our members of The Candy Shop to please subscribe to the Announcements Channel for important updates on raises and wallet address collections. We are currently chasing Supra Starkey wallets from the community. Please send these in as soon as possible.
To find out more about Nodeifi, visit our website.
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