
One Of The Biggest Comebacks Ever—Yes, Really 🥊
OVERVIEW
One Of The Biggest Comebacks Ever—Yes, Really 🥊

Source: Giphy
Before we dive in, here’s today’s crypto market heatmap:
And here’s a look at crypto’s total market and altcoin market cap charts:
TECHNICAL ANALYSIS
Legit Historical Moves 😲
It’s 3:00 PM EST, and as I write this section of the Litepaper, we’re witnessing some extraordinary recoveries across the crypto market. No one can predict what will happen between now and the end of the day, but these are already shaping up to be among the biggest bullish daily retracements on record. 🤯
Algorand
If it closes today at its current price of $0.307, it will mark the largest bullish recovery from the daily low in ALGO’s history.
Cardano
If ADA closes today at the opening price of $0.805, this will be its second-largest bullish daily retracement ever. If it goes slightly higher and closes at $0.81, that would be its biggest daily retracement in history (+59.64%).
Chainlink
Currently around $21.28, LINK is on track to record its third-largest daily retracement ever—and the largest since June 28, 2019. This is especially notable because the largest retracements for LINK occurred when it was trading around $2.
Ethereum
If ETH closes today near its opening price, it will mark the seventh-largest bullish daily recovery in its history, and the biggest since March 2017, when ETH was in the $40 range.
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NEWS IN THREE SENTENCES
Crypto News 📰
💱 Kraken and Coinbase Target Euro and UK Domination
Kraken snagged a MiFID license in the EU, so advanced traders can get derivatives without regulators screaming foul. Meanwhile, Coinbase bagged a UK VASP registration, letting them mingle crypto and fiat smoothly across the pond. The Block.
🟠 MicroStrategy Hits Pause on BTC Binge
Michael Saylor just admitted that MicroStrategy hasn’t sold more shares to grab extra Bitcoin this week, marking the first break in a 12-week buying spree. They’re currently sitting on 471,107 BTC—worth over $30 billion—and apparently feeling like that’s enough for a moment. Cointelegraph.
🏦 UBS Trials ZKsync Validium For “UBS Gold”
The Swiss bank did a proof-of-concept to see if ZKsync Validium could handle fractional gold investments with privacy and scale. They basically want cheaper, faster cross-chain gold deals. If the results are good, you might soon see “UBS Gold” bridging your gold bars to Ethereum. Zksync blog.
⚡ Circle Paymaster: Pay ETH Gas With USDC
Tired of juggling ETH just to cover fees? Now you can use Circle Paymaster. They sponsor gas fees in exchange for an EIP-2612 permit signature. That means you do everything in USDC land—no more multiple wallets or tokens. They’ve got it live on Arbitrum and Base – more coming ‘soon’. Circle blog.
🤖 Injective’s AI Index Mashes TradFi With Crypto
AIX slaps together Nvidia and Taiwan Semi with Bittensor and AI16Z, giving you a single on-chain basket of AI hype. No more toggling between centralized broker accounts and shady altcoin DEXs. If you think AI is the future, they’ve basically built you a moon rocket and are holding the door open. Injective Protocol blog.
🏦 Tokenized Assets Soar Past $17.1B ATH
Real-world assets on-chain now top $17.1B, driven by tokenized private debt and U.S. Treasury bonds that let you mix old-school finance with digital swagger. As Bitcoin hovers around $96k, institutions are eyeing RWAs for stable returns, fueling predictions of a $30T behemoth by 2030. It’s not a war on BTC—it’s a reminder that DeFi can tokenize the world and still leave room for everyone’s favorite orange coin. Crypto-Economy.
⚖️ Chainlink SVR: DeFi Protocols Reclaiming Liquidation MEV
Chainlink rolled out Smart Value Recapture to capture the liquidation MEV that usually goes to outside arbitrageurs. The gist: DeFi protocols can auction off the liquidation rights, recapturing more value for themselves. The big question is how to handle delayed oracle updates (and the risk of bigger price moves). If protocols adjust liquidation bonuses or LTV properly, it’s a big profit potential without adding big risk. Chainlink blog. Chainlink blog.
ON-CHAIN ANALYTICS
Liquidation Station 🌊
Leveraged crypto positions over the weekend hit the ground like a trash bag full of vegetable soup dropped from the top of a 100 story building. 😱
As of this morning, in the past 24 hours, nearly three-quarters of a million traders (741,677) were liquidated for a total of $2.3 billion.
$1.9 billion of those positions lost were on the long side of the market.
Was it worse than $2 billion? 😨
Bybit’s CEO, Ben Zhou says crypto losses might actually be $8-10 billion:
Ouch 🤕
NEWS IN THREE SENTENCES
Metaverse, NFT, & Gaming News 🎮️
💡 Subgraph Magic for Speedy DApps
If your subgraph is crawling, prune your junk data and trim those eth_calls so your users don’t abandon ship. Time-series, immutable entities, and derivedFrom are your new best friends. Just remember that fancy tech doesn’t matter if everyone’s stuck staring at a loading screen. The Graph blog.
🎨 Render Advent Contest 2024
Hundreds of submissions, $40k in USDC prizes, 24 days of creativity. The winners scored up to $1k each. Clearly, the Render community is brimming with talent—and you can bet they’ll be more contests to feed that artistic hunger. If you missed it, keep your eyes open for the next round. Render blog.
NEWS IN THREE SENTENCES
DeFi, DEX, and Lending Protocol News 🏦
🚀 Curve: The TVL That Won’t Budge
Curve’s $2.326B in TVL has barely flinched while everything else is melting. Taiko incentives are dishing out yields that might make you question your sanity until the herd rushes in. And crvUSD stands rock solid, flashing a show of stability that other DeFi projects wish they had. Curve Finance blog.
🦄 Uniswap v4 Arrives in Force
After a $15.5M bug bounty and nine audits, v4 lands on ten chains with “hooks” that let devs go wild. Creating pools is cheaper than your morning latte, and gas savings make your wallet sigh with relief. If you thought DeFi was losing steam, try telling that to the unstoppable Uniswap dev train. Uniswap blog.
💹 1inch PnL & ROI Tracking Simplified
Tired of scribbling a thousand spreadsheets? 1inch now gives you a neat formula for Profit and Loss: PnL = Current Value − Inflow + Outflow. They even generate ROI automatically. So, if you’re Bob, the small-time crypto gambler, you can see you’re up 42.5% without fiddling with decimals. Easy peasy. 1inch blog.
LINKS
Links That Don’t Suck 🔗
🥔 Idaho man bounces table tennis balls with his mouth to break record
🪙 Coinbase files the documentation to list futures on Solana and Hedera
🕹️ BioWare layoffs deal blow to video game industry stabilizing before GDC
💸 The million-dollar mistake: Bad advice can destroy your UAE crypto company
🤖 US firm unveils plan for 100,000-strong humanoid robot army to counter China
💘 ‘Absolute minimum’ of $270,000 price target coming for Bitcoin in 2025, according to PlanB
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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. 📋
