When the Market Splats, Stay Humble. Stack Sats.

Despite a 5%+ dip for BTC, crypto is full of action and opportunity.

Heyyo Blockfolians,

The Lede

What can we say? What goes up, must come down. And boy, did it come down yesterday. Bitcoin dipped more than 5% in an hour. Still, the bulls weren’t worried. Morgan Creek CEO Mark Yusko joined CNBC to reiterate the idea that dips are for buying.

For those who are more reassured by math than by marketing, Ceteris Paribus has you covered.

Of course, BTC wasn’t the day’s only story.


Highly Relevant Reading

⚽️Juventus becomes latest football squad to get nifty | In what seems like our umpteenth story about sports-NFT collaborations lately, Italian soccer giant Juventus is working with Paris-based Sorare on collectible digital cards for its global superstars.

🔥Kyber Network token comes to Coinbase Pro | The US exchange announced the listing of the KNC token which is used for paying fees on Kyber’s token swap network. Another nod to growing interest in DeFi.

💸Derebit completes 10% equity sale | Runaway bitcoin options leader Derebit has completed a financing that was earlier in the year speculated to value the company in the 9-figures. I guess these funders are betting on big growth in derivatives?


Community Commentary

Crypto Lawyer Lewis Cohen on the latest action in the SEC vs. Telegram
How does mining concentration impact bitcoin security? The latest in an ongoing debate by Hasu

A Really Big Number You Should Be Paying Attention To

$100,000

That’s the value of the early prizes to be discovered in just launched Decentraland. It may not be everyone’s cup of tea, but we’re excited to see experiments with mass-scale, crypto-powered virtual worlds.


Final Thought

More pro-crypto senators sounds good!