✋ Kamala Harris Want Some of This Crypto Thing

Happy Monday dear subscribers! In today’s Newsletter, Kamala Harris getting involved in Crypto

In today's bulletin, we are covering:

• Surfing the Market, with analysis about the AI Index and TAO

• Don't miss the News about Kamala Harris and Trump

• AIOZ Network is under the spotlight.

• A short article about Rational and Irrational Market?

• Our selection of the best Gems on X

Let's start focusing on the AI Index, which started the weekend with another bounce on the local support and continues approaching to the main downtrend resistance. Primed setup with great risk/reward:

TAO not giving up and pushing nicely over the local resistance on the $355 range. Breakout here would trigger the local bull reversal:

Kamala Harris's Team Reaches Out to Crypto Firms to Mend Ties

In a move to improve relations with the cryptocurrency sector, Vice President Kamala Harris’s advisers have contacted major crypto companies like Coinbase, Circle, and Ripple Labs.

• Harris’s team contacted major crypto companies including Coinbase, Circle, and Ripple Labs.

• The initiative aims to foster a more constructive dialogue and create a regulatory framework conducive to the industry's growth.

• This move follows criticism of the Biden administration’s stance on digital assets.

• Democratic members and 2024 candidates urged the party to reconsider its approach to the digital asset industry.

• The outreach is not driven by a desire for electoral contributions but to build a positive relationship with the industry.

• Harris's campaign aims to counter the perception that Democrats are anti-business.

• Trump has gained substantial backing from the crypto community, becoming an important source of campaign funding.

• Pro-crypto super PAC Fairshake has raised over $200 million from prominent backers, and Trump’s campaign has received approximately $3 million in cryptocurrency donations.

This effort aims to establish a more constructive dialogue and develop a regulatory framework beneficial to the industry's growth, amid increasing support for her rival, Donald Trump, from the crypto community.

Trump Pledges to Reform SEC for Crypto-Friendly Future

Donald Trump vowed to replace SEC Chair Gary Gensler at a Bitcoin conference in Nashville, aiming to boost the crypto industry. Trump's plan includes appointing a pro-industry SEC chair to enhance America's position as a global crypto leader. However, significant regulatory changes are needed alongside leadership changes.

• Trump promises to oust SEC Chair Gary Gensler for a pro-crypto replacement.

• Web3 needs investor protection and oversight, which the SEC provides.

• The new SEC chair should focus on five key goals:

• Enable Ether funds to start staking by creating regulatory carveouts.

• Embrace on-chain compliance solutions for securities markets.

• Upgrade KYC and custody rules to include self-custody elements.

• Regulate Decentralized Exchanges (DEXs) by clarifying token classifications and setting registration paths.

• Promote onchain dollarization with USD-backed real-world assets (RWAs) fully leveraging blockchain capabilities.

Trump's proposed reforms aim to strengthen the crypto industry while ensuring proper regulation, making the U.S. a leader in the digital economy.

AIOZ Network

The AIOZ Network is an infrastructure solution that aims to provide a decentralized alternative to centralized content delivery networks (CDNs). 

The project falls into the L1, AI, DePIN and RWA narratives and aims to be a comprehensive infrastructure solution for web3 storage, decentralized AI computation, live streaming and video on demand (VOD), powered by people.

By using Blockchain the AIOZ network has been created with the objective of improving the way content is distributed and consumed. A more efficient, scalable, and cost-effective content delivery would be possible utilizing idle bandwidth and storage from a global network of nodes.

The AIOZ Network has 4 major web3 services:

• Storage Service (W3S): Users can store and access their data across multiple regions in the cloud.

• Pinning Service (W3IPFS): InterPlanetary File System is an open-source file-sharing system (P2P).

• Video Streaming Service (W3Stream): Provides the necessary tools, technologies, and support to deliver high-quality video content globally.

• AI Computing Service (W3AI): AI models executed locally on user devices through AIOZ Nodes.

The token of the project is $AIOZ; it serves an integral function within the AIOZ Network ecosystem. It has a 1.11B token supply (all in circulation) with a current market cap of $707M. It has a burning mechanism and an inflation schedule where tokens will be decreased by 1% each year on December 25th, for a total of 4 years. This means a total of 4% reduction and a resting inflation rate of 5% by 2026.

The AIOZ Network project managed to raise a total of $1.35M in various funding rounds. 

AIOZ Network's top competitors include Parameta, Validation Cloud, and META ERA, but as it has multiple services there are a large number of projects working in similar solutions.

Rational or Irrational Market?

John Maynard Keynes famously said that “markets can remain irrational longer than you can remain solvent”. Let's explore why the market tends to be irrational, as Keynes suggests.

One thing is certain: markets are not linear. They don't rise in a straight line, nor do they fall in a single move. It is much more complex than that, and this complexity makes analyzing and predicting market movements one of the most challenging activities in the world.

This complexity arises because the market is composed of billions of decisions that together form the prices we see on screen and the patterns in each chart. Therefore, we are not just analyzing a number but the millions of decisions behind that number. Overwhelming, right?

Often, we read analysts or traders complaining about the market's irrationality, about movements that are not consistent with reality and that cause them to lose money. 

Keynes' phrase is a great truth and is often repeated throughout history, from senseless downturns to FOMO rises that seem to have no ceiling, where in both cases the rational trader is left out or loses money.

But the reality is that while the market does exhibit irrational behaviors, these tend to occur in very short periods of time, meaning they are confined to the short term.

In the long term, all markets are rational. By rational, I mean they adjust to the reality of the asset in question and its supply/demand. Here, the saying that in the long term, the chances of success increase holds true.

But this is partially true because if we choose the wrong asset, the passage of time alone will not give us returns. And citing Keynes again, “in the long term, we are all dead” lol.

Therefore, the important thing when analyzing a market is to know that it often behaves irrationally, although in the long run, this irrationality tends to rationalize, and this is where the fundamentals of the asset in question come into play.

The key is not to seek rationality when what we see is irrational, but rather to adapt to this irrationality to know how to coexist with it, operate it, and reap the most benefit from it.

A New Dashboard For Arkham

Arbitrum is growing big

Whales are Whaling!

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