The Insider #111

Daily Headlines & Deep Dives

Ascend
March 04, 2024

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Flamingo DAO goes on a shopping spree; spends 376 ETH (1.3M$) on 3 CryptoPunks, 34 Meebits and 19 Chromie Squiggles. They now hold over 26K ETH worth of NFTs. Flamingo DAO has been collecting since 2020 and have a very solid long term investing strategy. (source)
Cryptocurrency traders are flocking into Bitcoin. Over 8.000 wallets traded last Friday which is an all time high for 2024 for and increase of over 3x from February lows. Due to the increased interest in Bitcoin and the bullish narrative surrounding it, Ordinals will rise with Bitcoin. The correlation in volume is undeniable. I expect new Bitcoin investors to start getting into NFTs by buying ordinals. Future seems bullish for Bitcoin and everything built on top of it. NodeMonkes as an example, which seems to be the CryptoPunks of Bitcoin, broke 550.000.000$ market cap. (source)

FlamingoDAO Spends 376 ETH To Buy BlueChip NFTs

Total global cryptocurrency market cap surpasses 2.500.000.000.000$. We have seen a tremendous increase in volume since the approval of the Spot Bitcoin ETF. It’s daily trading volumes are breaking records daily. I expect Bitcoin the entire crypto market to go up with small corrections over the next 2 years. Other expected ETFs such as ETH’s and Bitcoin halving will only contribute to this positive volume and liquidity inflow. (source)
Chinese investors say they are seeking stability in cryptocurrencies’ “safe haven”. The notion of Bitcoin being the digital gold and cryptocurrencies being a safe haven amidst increasing inflation all over the world is strengthening with every passing day. (source)

Chinese Investors Seek Stability In Crypto’s “Safe Haven”

CNBC says United States national debt increases by 1.000.000.000.000$ approximately every 100 days. (source)

US National Debt Increases Exponentially

Crypto & NFT prices by Ascend

We hope this daily Web3 recap helps you in your Crypto and NFT journey !

These insights are inspired by Carlitos' daily news.

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