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OVERVIEW

Adding Zeros To BTC, Is There A Pattern? 🤔 

Before we dive in, here’s today’s crypto market heatmap:

Source: Santiment

And here’s a look at crypto’s total and altcoin market cap YTD:

Source: TradingView

New In Three Sentences
Crypto News 📰

🌀 Coin Center: Tornado Cash Is Code, Not Property. Got It?

Coin Center’s lawyers are back, appealing the Northern Florida district court’s ruling that essentially treats Tornado Cash as property subject to OFAC sanctions. They argue that the software isn’t property because no one owns or controls it—it’s just lines of code. Meanwhile, the government is still insisting that Tornado Cash’s token price and withdrawal fees prove it provides financial benefits to its creators. Cointelegraph.

👨‍⚖️ Gary Wang: From FTX Co-Founder to “Good Samaritan”

Gary Wang, FTX’s co-founder, dodged prison time after spilling the beans on Sam Bankman-Fried’s epic fraud. Wang, who helped prosecutors with damning testimony and built fraud-detection tools, was sentenced to time served and three years of supervised release. Judge Kaplan praised his cooperation, calling it one of the biggest fraud assists in U.S. history, while Wang apologized for his role, saying, “There are so many things I could have done.” Decrypt.

🪙 Meme Coins on Pump.fun: Where Dreams Go to Die

Over 60% of traders on Pump.fun lose money, but hey, at least the platform itself is making bank. Viral FOMO stories—like a 13-year-old cashing out $30K—keep speculative investments flowing into pump-and-dump coins, leaving most traders holding the bag. Pump.fun is now gearing up to drop a native token and pro-trading terminal because, apparently, the house always wins. BeInCrypto.

🏀 Shaq’s $11M NFT Foul: Astrals Settlement Ends Legal Dribble

Shaq just settled for $11 million over allegations he pushed unregistered securities via the Astrals NFT project. The Solana-based venture, heavily promoted by the basketball legend, tanked, leaving investors empty-handed. This wraps up a year-long lawsuit, but Shaq’s not off the hook yet—his FTX promotion lawsuit is still lurking in the wings. DailyCoin.

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BITCOIN
Waiting, And Waiting, And Wating… ⌚️ 

Another new all-time high was made today, just shy of $95k! 🫢 

BTCUSD Daily chart – Click to enlarge.

Bitcoin still hasn’t hit the coveted $100,000 mark. But let’s not forget—$100,000 isn’t just a milestone; it’s a whole new digit for BTC. So, when was the last time that happened? 🤔 

Adding Zeros To Bitcoin – Is There A Pattern?

Does the time it’s taken for Bitcoin to ‘add a zero’ ($100 to $1,000, $1,000 to $10,000, etc) have a pattern?

Let’s break it down.

Time Between Milestones

• $10 to $100: 7 months

• $100 to $1,000: 2 years and 6 months

• $1,000 to $10,000: 4 years

• $10,000 to $100,000 (Projected): ???

This progression suggests the time required to hit the next milestone grows exponentially—or at least in a stretched linear fashion when plotted on a logarithmic scale. ➗ 

Using a trend line based on historical data, the next logarithmic jump is projected to take:

6.46 years from the $10,000 milestone (November 28, 2017).

Adding 6.46 years places the date at May 13, 2024. But that didn’t happen. Why? The Halving Effect might be the reason. 👉️ 

The Halving Effect Needs Time

Bitcoin has never peaked immediately after a halving. The pattern is clear:

• 2012 Halving: Peak 12 months later.

• 2016 Halving: Peak 18 months later.

• 2020 Halving: Peak 18 months later.

If history holds, the 2024 halving’s peak won’t fully materialize until at least April 2025. 

$100k in November 2024? Extremely, and at this point, highly likely.

Bitcoin is a measly $5k away from $100k. 👍️ 

News In Three Sentences
Metaverse, NFT, & Gaming News 🎮️

📺 FanTV x Sui: Fixing the Broken Creator Economy, One Token at a Time

FanTV is flipping the script on content creation by putting creators and fans in charge. With token-based earnings from the first view and tools powered by Sui’s slick blockchain tech, FanTV is dragging monetization out of the Stone Age. TL;DR: Say goodbye to the 1% hogging all the revenue. Sui blog.

💎 Aleph Zero’s Ike: Liquid Staking With a Side of DeFi Action

Aleph Zero just unleashed Ike, a liquid staking protocol that turns your staked tokens into yield-generating, DeFi-ready assets. Forget locking your liquidity for weeks—this is staking for people who want rewards and flexibility. Bonus: it’s backed by blockchain security pros, so no sleepless nights. Aleph Zero blog.

🔍 Solana Verifiable Builds: No More Mystery Meat Code
Solana just dropped Verifiable Builds because, apparently, transparency is a thing now. Developers can prove their onchain programs actually match the source code, and users finally get apps they can trust. About time someone in crypto prioritized honesty over hype. Solana blog.

News In Three Sentences
DeFi, DEX, and Lending Protocol News 🏦

🪙 Bitfinity Network Launches Bitcoin L2 with $12M Backing

Bitfinity Network just secured $12 million to slap some Ethereum-like functionality onto Bitcoin with ICP’s Chain Fusion tech. Backed by Polychain, ParaFi, and $5 million worth of grassroots enthusiasm, this Bitcoin layer-2 isn’t here to play small ball. Between EVM compatibility and plans to host DeFi DApps, Bitcoin’s days as “just a store of value” might be numbered. Cointelegraph.

📈 Ethena Scores $1B as Crypto Yields Go Bonkers

Bitcoin’s ripping higher, and Ethena’s USDe token is cashing in with a fat 29% annualized yield. The token’s market cap just cracked $3.44 billion, and integrations with Aave plus revenue-sharing plans are on deck. TL;DR: DeFi’s back, and Ethena’s making everyone else look lazy. Coindesk.

🌟 Radix Ecosystem Fund: Revamped and Ready for 2025

Radix is done playing nice with mediocre dApps. Their $250M fund has already dished out 67 grants and now shifts focus to projects that actually generate demand, revenue, and innovation. Builders, bring your A-game, or don’t bother showing up. Radix blog.

ON-CHAIN ANALYSIS
Burnt Bag Briefing 🔥 

Want to know whether the bulls or bears are feeling the most pain today? Well, this is the place to look. 👀

24-Hour Liquidation Heat Map – Source: Coinglass – Click to enlarge.

In the past 24 hours, 159,593 traders were liquidated, with total liquidations reaching $416 million.

The largest single liquidation occurred on Bybit, a BTCUSDT pair valued at $4.92 million.

Longs lost $308.27 million, while shorts were hit for $107.06 million. 🤕 

SOCIAL ANALYTICS
What’s Trending 🥓

Most bullish/bearish symbols on Stocktwits at the close: 📈 $ADA, $XLM, $CRO, 📉 $IMX, $HBAR, and $UNI

Trending crypto tickers across social media: $BTC, $QNT, $LTC, $ETH, and $SOL.X

Top trending crypto buzzwords across social media: retail, coins, meme, USD, meta, memes, $100k, chillguy, solana, ath, liq, age USD, bitcoin, time, eth, saylot, Michael, billion, market, stock, cap, high,m str, btc, ltc, chill, tiktok, and bon

LINKS
Links That Don’t Suck 🔗

🤯 Trump Team mulls creating first-ever White House crypto role

🙄 Logan Paul under fire: New BBC investigation uncovers crypto promotion allegations

🥷 Crypto wallet Phantom outranks WhatsApp and Instagram among top free iPhone apps

👀 Microstrategy’s Saylor eyes Microsoft and Rumble BTC initiation

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Author Disclosure: The author of this newsletter holds positions in ADA, WMT, COPI, MIN, AGIX, ALGO, DOGE, ZEC, AVAX, XLM, XTZ, and NEAR. 📋