Overview
- Banter Arbitrum Odyssey Guide
- Bitcoin’s long-term uptrend.
- The first Web3 mobile device?
- THORChain marks a major milestone.
Arbitrum Odyssey
Arbitrum is a fast-evolving Layer-2 (L2) protocol that has quickly onboarded a large sum of dApps and users. It has attracted major Dapps like Uniswap (UNI), Aave (AAVE), and Balancer (BNT) from the Ethereum mainnet. In addition, Binance, Kucoin, FTX, and Bybit have bridges directly to the network for easy accessibility. From what I hear, Arbitrum even has a blossoming non-fungible tokens (NFT) market. At the moment, Arbitrum lacks a token, but that may be about to change, and we want to prepare you for the eventuality.
How to qualify for Arbitrum’s potential airdrop and receive some NFTs in return.
Arbitrum has put together a program titled Arbitrum Odyssey to help onboard users to the network, rewarding them with NFTs and possibly qualifying them for a future airdrop. Arbitrum, through the program, rewards users for learning. The user will learn to bridge, conduct swaps, buy NFTs, and more. Airdrop plus NFTs?! Considering the bear market, it’s one of the best opportunities in crypto!
The program consists of eight weeks of testing various protocols (one per week). After each successful week, users will be awarded an NFT. By the end of the program, each user could own up to 16 NFTs and qualify for an additional NFT if they collect at least 13.
The Arbitrum Odyssey Guide:
Week 1 – Bridging (~ 15-30 minutes)
All actions come at the user’s risk. Verify protocol links using CoinGecko. There are no guarantees Arbitrum Odyssey will qualify users for the airdrop. Official Arbitrum Odyssey Guide.
To reach Arbitrum:
First off, you’ll need some Ethereum (ETH).
- Purchase/Transfer ETH or AETH. First, purchase Ether (ETH) on any major exchange or use an Arbitrum fiat on-ramp. Then transfer the ETH to your browser wallet. I prefer to use Meta Mask, but there are many options.
- Bridge. If you already own ETH, utilize the bridges/fiat on-ramps to transfer ETH to the Arbitrum network before June 27th, 12:59 pm EST. Be aware that the return trip to the Ethereum network takes one week once ETH is bridged. But once you experience the faster speeds and nominal gas fees on Arbitrum, you may never want to return.
- Claim NFT. That’s it! Week one is complete.
At the end of the week, you can claim your NFT here. To receive an additional NFT, use the bridge protocol with the most ETH volume bridged into Arbitrum during the week. So far, it’s Hop Protocol according to Footprint.network metrics.
Stay on the lookout for Week Two Guide next Friday!
Market update 🌍
“When in doubt, always zoom out. “
BTC/USD 1M
It’s a human tendency to get caught up in the moment and ignore the long term. When investing, it often works against us. Chartists claim the more prolonged the chart’s periods, the more reliable. So, thinking long-term, we can see BTC on the monthly chart has only gone in one direction over time. Up. A steady uptrend with minor-looking dips. This month, BTC is on the cusp of one of its most significant sell-offs in history and nearing a trendline that began in 2013. Moreover, June 2022 ranks as the second-worst month in Bitcoin’s history since 2011, with a decrease of -33.70% as of today. The question is, are you buying the historic dip?
High-resolution chart
SNX/USD 1W
Synthetix Network (SNX), a premiere derivatives liquidity protocol with $338m in Total Value Locked (TVL), is in the process of posting one of its best weeks on record with a gain of +48.72%, backed by an exuberant amount of volume. The team has been steadily building, and with its recent major upgrade, SNX could be priming for a downtrend breakout. Keep an eye on this one.
High-resolution chart
| US markets close | Gain |
| S&P 500 | +0.95% |
| Nasdaq | +1.47% |
| Dow | -2.45% |
| VIX | +0.35% |
| Protocol (Coin) | Price ($) | Gain (%) |
| Polygon (MATIC) | 8.21 | +34 |
| THORChain (THOR) | 2.19 | +20.5% |
| Cosmos Hub (ATOM) | 8.46 | +20 |
| Evmos (EVMOS) | 2.01 | +17 |
| Basic Attention (BASIC) | 0.42 | +14 |
| Tenset (10SET) | 3.48 | +11 |
| Avalanche (AVAX) | 18.42 | +11 |
| Juno (JUNO) | 2.89 | +20 |
| WOO Network (WOO) | 0.21 | +17 |
| IoTeX (IOTX) | 0.029 | +15 |
| Curve Dao (CRV) | 0.82 | +14 |
| Bitcoin Fear and Greed Index | 11 Extreme Fear |
| “Crypto” Google Trends 90d | 21 |
| “Bitcoin” Google Trends 90d | 61 |
Newswatch 📰
Solana cell phones!? Solana Labs treks into the android mobile phone market with a device named “Saga,” set to release in early 2023. The device will run Solana Mobile Stack (SMS), including crypto wallet capabilities, Solana Pay integration, and various Web3 features.
News Tidbits:
- Falcon Network announces $150m Series D
- Bybit enters a settlement agreement with the Ontario Securities Commission.
At the protocol level ⛓
THORChain Mainnet Launch. After four years of building, the decentralized liquidity provider THORChain (THOR) has achieved Mainnet. The Mainnet marks the milestone of a fully functional decentralized protocol. Furthermore, the upgrade will allow the launch of synthetic assets to create the “most efficient liquidity in DeFi”.
Protocol Level Tidbits:
- Ethereum Mainnet shadow fork #7 successful.
- Avalabs announces the release of Core, a free, non-custodial browser extension.
- zkSync V2 upgrade.
- Aleph Zero smart contracts are live.
- Proposal to rebrand Sushi (SUSHI).
- Chainlink (LINK) staking report.
- Harmony One (ONE) cross-chain bridge hit with a $100m attack.
Banter’s take
While bitcoin steadily climbs, altcoins have sprinted out of this week’s bottom. SNX, UNI, and MATIC posted nearly 50% in the previous seven days. Even though Crypto Winter is still in full bloom, this one differs tremendously from the last. Protocols that were non-existent a few years back have emerged and have staked their ground with serious use-cases.
That being said, this week appears to be foreshadowing traders’ willingness to buy altcoins at the worst of times. A missing trait in winter’s past. So when the ice age comes to a close, be prepared, because it’s off to the races they go.
Gabri
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Disclaimer
Good Morning Crypto (issued by Crypto Banter) is a newsletter for entertainment purposes only.
All opinions expressed by the publisher, writers, and chartists should not be construed as financial advice and do not necessarily reflect the views of Crypto Banter. The publisher, writers, and chartists may hold positions in the tokens and assets discussed. Readers are encouraged to do their own research.
