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OVERVIEW

Altcoins Are Waking Up ⚡️ 

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

NEWS IN THREE SENTENCES
Crypto News 📰

🏛 Court Docs Reveal US Gov’t “Coordinated Effort” To Halt Crypto Services, Coinbase CLO Calls Foul

Unsealed letters show the FDIC repeatedly pressured banks in 2022–2023 to freeze or curtail a wide range of crypto offerings, from basic BTC buy/sell to stablecoin issuance. Coinbase’s Chief Legal Officer Paul Grewal and others say it’s a 2.0 version of the infamous “Operation Chokepoint,” labeling it an unconstitutional regulatory overreach. Critics vow to demand congressional hearings, warning that these “pause letters” threaten free-market principles and hamper the entire US crypto industry. Ledger Insights.

💯 Litecoin Hits 300 Million TX Milestone, ECB’s “Holy Grail” Found?

Litecoin notched its 300 millionth transaction this week and all while never having the network down or pause in thirteen years. Meanwhile, the European Central Bank is still searching for the “holy grail of cross-border payments” (fast, cheap, inclusive, stable). Litecoin’s fans say, “We’ve already nailed near-instant settlement at sub-cent fees, with universal reach, and no central bank needed!” Now the question is: can LTC’s 2.5-minute blocks and unstoppable track record woo the ECB to ditch their decade-long search? Litecoin blog.

🦊 Vitalik Liquidates $2.5M in Memecoins, Funnels Profits to Kanro Charity

Ethereum co-founder Vitalik Buterin offloaded various memecoins from his public wallet—including DOGE, SHIB, and cult microcaps named after Elon Musk—raking in about $2.5 million in USDC and ETH. The tokens were mostly freebies from memecoin promoters hoping for a Vitalik shoutout, but once again, he’s donating proceeds to philanthropic causes (this time, Kanro). The Block.

💸 Bitcoin Network Settles $19 Trillion in 2024, More Than Doubling Last Year

BTC’s settlement volume rocketed to $19T, dwarfing 2023’s $8.7T and reversing two years of slump since its 2021 peak of $47T. Analysts point to surging hashrates (peaking at 1,000 EH/s in January) and a strong 2024 for Bitcoin—buoyed by a U.S. spot ETF approval, a halving event, and a run to all-time highs near $108,000. Riot Platforms’ research VP says it’s proof Bitcoin can serve as both a store of value and a robust medium of exchange on the global stage. CryptoNews.

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ON CHAIN ANALYTICS
BTC Exchange Balances: The Great Disappearing Act 👻 

BTC Supply On Exchanges – Click to enlarge.

Bitcoin’s supply on exchanges just hit 1.5 million. That’s half of the 3.5 million coins chilling on order books back in March 2020. The sell button must be covered in spiderwebs because no one’s pressing it. 🔘 

HODLers are hoarding like they’ve discovered the secret to immortality, leaving fewer coins available for anyone still shopping.

Some blame price expansions. Whenever Bitcoin soared to a new high, coins on exchanges magically vanished faster than someone picking up the lunch tab. This game’s been going on since December 2018.

Throw in a few halving events slashing block rewards, and it’s no surprise the open market supply looks rattled. Basic economics warns that if folks refuse to sell while demand stays steady, the price chart often points up. 🔼 

Supply Shocks and a Game of Musical Chairs 🎶 

Fewer coins available sets the stage for a supply shock. If a surge of buyers shows up, it’s like discovering there’s only one slice left at a pizza party. Bitcoin’s reputation for volatility is legendary, so watchers are on high alert. One buying spree could send the order books into a full-blown panic. 😱 

If supply keeps heading off into cold storage, get ready for a round of musical chairs. And guess what? The seats are in short supply, so those who show up late might be paying a premium for the privilege of sitting down. 🪑 

TECHNICAL ANALYSIS
The Bulls Are Getting Ready To Charge 🐂

There’s a boat lof altcoins positioned for some major continuation moves to the upside. Let’s take a look at some of them and what levels traders are looking at. 👀 

Solana

SOLUSD Daily Chart – Click to enlarge.

Solana, like a good chunk of the altcoin market, is stuck inside the Cloud. Until there’s a clear breakout higher (or lower), expect some sucky trading conditions. But, if bulls can push SOL to a close above $229.51, that’s would confirm an Ideal Bullish Ichimoku Breakout. From there, the road to new all-time highs will likely continue.

VeChain

VETUSD Daily Chart – Click to enlarge.

For VET, an Ideal Bullish Ichimoku Breakout setup will occur if VET closes above $0.058. And unlike a good chunk of the altcoins we’re looking at, at that price level the Chikou Span is above the candlesticks and in open space.

Hedera

HBARUSD Daily Chart – Click to enlarge.

Within the Ichimoku system, there’s one condition missing that would confirm HBAR is setup for a major move higher, and that’s the Chikou Span above the bodies of the candlesticks – putting it into ‘open space’. A close above $0.288 would seal that deal.

Dogecoin

DOGEUSD Daily Chart – Click to enlarge.

Wen moon for DOGE? No idea. It’s stuck in the suck like Solana. But a close above $0.425 would confirm an Ideal Bullish Ichimoku Breakout and put the Chikou Span in open space. If that happens, it might not be long before we see new all time highs for DOGE.

NEWS IN THREE SENTENCES
Metaverse, NFT, & Gaming News 🎮️

🐧 Pudgy Penguins’ PENGU Token Jumps 26%, Surpasses OP in Market Cap

PENGU soared to a $2.8B valuation, overtaking Optimism’s OP, amid speculation that the Pudgy Penguins NFT brand might score a Pokémon collaboration. The rumor alone fueled fresh demand, though some watchers dismiss it as hype aimed at pumping PENGU’s price. Launched last month with a $2.3B market cap, the memecoin tumbled over 50% post-airdrop—only to bounce back on the faintest whispers of a big gaming IP tie-up. CryptoBriefing.

⚔️ Axie Classic S7: New PvE Tower, 35K+ AXS Rewards, and Gearing Up

Axie Classic’s Season 7 is here for four weeks, dishing out 35k AXS prizes, new mini-tournament wins, and the debut of a PvE “Tower Mode” for leveling. Thirty-three fresh Cursed Coliseum cards (like Heart Break, Balloon Pop, Air Force One) join the fray, while a bigger artifact system and new Gear mechanic hint at future expansions. Axie Infinity blog.

NEWS IN THREE SENTENCES
DeFi, DEX, and Lending Protocol News 🏦

🕶 Secret Network Taps New Advisors to Power Privacy-First Blockchain

Secret Network just bolstered its privacy ecosystem by appointing three pseudonymous advisors: “Supdoggie” (a Cosmos-tech wizard behind SNIP52, HEAPS, and StarShell), veteran early contributor Ian Spiegel, and ex-growth lead Tor Bair—each with deep roots in DeFi, privacy, and community building. They’ll help steer Secret’s push into DeCC (Decentralized Confidential Computing) and Confidential AI, accelerating everything from network scalability to developer adoption. Secret Network blog.

🏦 Aave Ends 2024 with $35B in Deposits, Eyes Multi-Chain Domination

Aave soared to a new deposit ATH since 2021, topping $35B, with big expansions to Prime, Scroll, BNB Chain, zkSync, and ether_fi. Meanwhile, up to six new chains—SonicLabs, Mantle, Linea, Bob, Spider Chain, Aptos—could join in 2025 if governance passes. GHO stablecoin also kept a strong peg while preparing more chain launches (Base, Avalanche), and the upcoming v3.3 (Umbrella) upgrade promises to automate risk mitigation. Aave’s X.

LINKS
Links That Don’t Suck 🔗

🔨 ‘75% of Ripple’s open roles are now US-based’ — CEO Brad Garlinghouse

🏎️ The first Tokyo Xtreme Racer in 18 years lands on Steam early access this month

😆 Elon Musk sparks backlash over X algorithm shift to prioritize educational content

👿 ‘Doom’ CAPTCHA turns online security Into a demon-slaying nightmare challenge

🤖 Which platform builds the best AI agents? ChatGPT, Claude, Gemini, and more tested

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