🌕 Bitcoin's ETFs are Rocketting!

Happy Monday dear subscribers! In today’s Newsletter, It’s Sometimes Hard to Bet on ETH!

In today's bulletin, we are covering:

• Surfing the Market, with analysis about Bitcoin and FTM

• Don't miss the News about Bitcoin’s ETFs and the James Fickel

• STORY is under the spotlight.

• A short article about Trading Burnout 

• Our selection of the best Gems on X

The downtrend resistance remains strong... More than two months of supression already. The next test will be at $56,500 support. Setting a higher low here while approaching the final squeeze against the downtrend will be really important. Next two weeks will be decisive:

FTM continues consolidating and pushing. The 53 cents resistance is the key level to trigger the bull reversal:

Bitcoin ETFs See Best Inflows in Nearly Two Months, Led by Fidelity and Ark Funds

On Friday, US-based spot Bitcoin ETFs saw their best day of inflows in nearly two months, logging $263.1 million, with the week's total reaching $403.8 million.

Fidelity's FBTC and Ark & 21Shares' ARKB funds led the inflows, while BlackRock's IBIT, the largest ETF by assets, saw outflows.

• Friday's Bitcoin ETF inflows totaled $263.1 million, the highest since July 22.

• Fidelity’s FBTC led with $102.1 million in inflows, followed by Ark & 21Shares' ARKB with $99.3 million.

• BlackRock’s IBIT had $9.1 million in outflows over two weeks.

• Bitcoin price is near $60,000, with traders anticipating a possible interest rate cut by the Federal Reserve.

• Ethereum ETFs saw modest inflows, led by Bitwise's ETHW and BlackRock's ETHA.

Ethereum ETFs had more modest inflows of $1.52 million, with a notable outflow from Grayscale's ETHE.

Crypto Millionaire James Fickel Loses $43 Million Betting on Ethereum

Crypto millionaire James Fickel has suffered losses exceeding $43 million since January 2024 due to a failed bet on Ethereum's price rising against Bitcoin.

His debt on Aave surged to $132 million as Ether underperformed compared to Bitcoin.

• James Fickel lost $43.7 million betting on Ether's price rise against Bitcoin.

• He borrowed $172 million worth of Wrapped Bitcoin (WBTC) on Aave to buy Ethereum, anticipating it would outperform Bitcoin.

• Ether underperformed Bitcoin, leading to a 24% YTD drop in value, further increasing Fickel's debt to $132 million.

• Ether ETFs recorded $581 million in negative net outflows, with Grayscale’s ETF accounting for over $2.7 billion in outflows.

• Fickel is known for his early investment in Ether when it was priced at $0.80.

Additionally, Ether ETFs are experiencing outflows contributing to the cryptocurrency's sluggish performance.

STORY

👆️ THE ORIGINS:

Story is a L1 blockchain built with the purpose of managing and monetizing Intellectual Property (IP) more efficiently that was founded in 2022.

Intellectual property is a category of property that includes intangible creations of the human intellect. There are many types of intellectual property, the best-known types are patents, copyrights, trademarks, trade secrets, and plant varieties.

In the digital age, the management of IP has become both a critical and complex issue, being common to see infringements, misappropriations, and enforcements of IP law.

🎯 THE OPERATIVE:

Story Protocol leverages blockchain technology aiming to establish a transparent and cost efficient system that benefits creators and rights holders. It allows users to register, trade, and enforce their intellectual property through a decentralized network.

The main key processes involved are:

1. Registration: Creators upload their IP details onto the blockchain, including copyright and licensing information.

2. Minting: Intellectual properties are converted into non-fungible tokens (NFTs), each representing a unique asset.

3. Licensing: Users can define and enforce their licensing terms using customizable smart contracts.

4. Trading: The platform facilitates a direct marketplace for buying and selling IP rights.

5. Royalty Distribution: Automated systems ensure that creators receive royalties whenever their work is used, based on the terms of the smart contracts.

Story Protocol uses a universal licensing agreement to on-ramp and off-ramp IP to the blockchain and represent each license term in code, this way each IP can be interpolable. This is possible by using a Programmable IP License (PIL).

IPs by nature are interconnected and can make a complex and entangled web where royalties have to be sent to the original IP that unleashed others, Story aims to simplify and organize it enabling an ecosystem of apps.

💵 SUMMARY & COMPETITORS

Story managed to raise $54M in a funding round led by a16z crypto, part of VC firm Andreessen Horowitz. Other investors include Endeavor, Samsung Next, Hashed, Paris Hilton’s 11:11 Media, and Wattpad co-founder Allen Lau. The project plans to launch its platform in the first half of next year.

In the current landscape of IP tokenization,** several projects stand out for their contributions presenting strong competition for Story. ** For example:

• IBM has partnered with IPwe to create a platform powered by the IBM Blockchain to trade patents as NFTs.

• Acxyn uses blockchain to tokenize gaming IP.

• Molecule is an IP funding platform for scientists and their research projects.

• Sologenic is built on the XRP Ledger offers tokenization of IP and patents.

It’s evident that blockchain and NFT technologies fit perfectly to recording and verifying IP ownership just by their core properties of being decentralized, transparent, and tamper-resistant.

Trading Burnout

Trading is one of the most challenging activities in the world, and with it comes the stress of constant decision-making. Let's explore why we should balance our portfolio along with our life ⚖️

Jesse Livermore, considered one of the best traders in history, said: “There is a time to go long, a time to go short, and a time to go fishing” 🎣 While this phrase refers to times when there is no reason to be invested, we can also associate it with avoiding burnout.

The reality is that we are not machines; our capacity for reasoning and decision-making has a natural limit. It is crucial to identify and respect this limit to protect our mental and physical health, as well as the health of our account.

The worst mistakes in trading often start from fatigue and poor decision-making due to spending too much time in front of the screen 😵‍💫 This is not different from other activities.

Trading is often seen as pressing buttons on an app or website, but what we're actually doing is making decisions. That's why the highest-paid positions in companies are decision-making roles.

Every decision involves a thought process that entails mental fatigue and a lot of prior work. This fatigue accumulates over time, and our performance starts to decline

It's not just about executing trades; even if we're not placing orders, we might be staring at the screen all day, with charts and tickers constantly moving... ⬆️ ⬇️ ⬆️ ⬆️ ⬇️ . These signals we send to our brain also cause mental fatigue, even unconsciously.

That's why I always recommend trying to limit our screen time and decision-making.

This habit will not only bring us better health and well-being but will also be reflected in our account and trades. Knowing when to stop and clear your mind is key to having a fresh perspective and better interpreting market signals 📈 

The secret to the market is to stay in it for the long term, and to do that, we must know when to turn off our minds (as hard as it may be) and go fishing, as Livermore said, or in my case, go surfing 🏄‍♂️

A Bounce in the Market

Venture Capital is Stepping up

Binance Smart Chain is On Top

Don’t sleep on this market, lots of opportunities to come, see you next week!