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**MACRO** - Nothing to really add here with markets closed. Note we have payrolls again on Friday so data kicks off
**CRYPTO** - Majors saw some strength over the weekend but are starting the week lower with BTC back down to 69.5k and ETH at 3540. I'm not really sure why we're lower tbh; before you could always assign it to funding but funding is pretty low right now although it did tick up a little over the weekend. It does look like there have been $200m in liquidations over the last 24H so perhaps that could explain it. It may also be because someone has some inside knowledge of ETF flows today or for the week. I suspect today to be quiet wrt that as it's still holiday szn a bit, so personally not expecting any fireworks. A lot of the focus this weekend was on memecoins with multiple new launches reaching 100s of millions of dollars of market cap while $WIF hit a new ATH almost hitting a whopping $5bn market cap. The latter is certainly crazy with a tonne of spot buying going on there and of course the rumour is a coinbase listing. it's an interesting one; $SHIB got listed by Coinbase in Sep 2021 at a $3bn market cap, after which it went on to hit $40bn in the weeks after. Makes you wonder if some of the larger players are orchestrating such an event...perhaps it's bag bias but I don't believe for a second that the aggressive buying that added $2.5bn of mkt cap last week is purely a coincidence.
**NFTs** - The meta here right now seems to be finding NFT projects which have not yet dropped tokens to get a free airdrop. In the past few days we saw mfers, Doodles and Capsule House all drop tokens while Azuki also announced their token. NFT prices are somewhat mixed in the past few sessions but in general it feels like a lot of capital is leaving NFTs to chase memecoins and I'm not sure what changes this. We need to bring back the collecting/flex feel to NFTs and I do think people may roll some hard-earned profits to sport luxury digital goods on their profiles in months to come but we are simply not there yet.
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GL This Week!
The information in this message does not represent any financial or investment advice. They're just random thoughts in my head.