Bitcoin Shortages, FOMO Setting in, ETH Exploding and The Beginning of an ALT Rally?

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I’ve been contemplating a good way to bring back this newsletter that would actually drive new account signups and attention to and with our new site live and a bunch of signup/onboarding options rolling out over the coming weeks/months, it’s finally time to get down and dirty with some marketing. Welcome to a new era of The Daily LEO.

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Market Cap ATHs for Bitcoin

Price is the most used metric for tracking the progress of Bitcoin, but many analysts in the space are saying that we should focus on market cap.

Making headlines over the past week, the market cap ATH for BTC was crossed and we’re currently sustaining and surpassing those ATHs.

While BTC’s ATH was just under $20k in the last bull run, there were only 16.74M BTCs in existence.

Due to mining, there are now 18.53M BTCs today. At current prices and supply levels, this makes BTC’s market cap the highest its ever been.


Bitcoin Shortages

This next one comes from Coindesk where they report on some ideas about why BTC is rallying by Pantera. Pantera believes that the latest rally and continual “dip buying” is by PayPal and Square who routinely purchase BTC to service their customer buying activities.

These two companies are believed to be buying more than 100% of the income BTC supply (BTC being mined — 6.25 BTCs every 10 mins).

With all of this buying comes a possible “BTC shortage” as the rest of the market and institutions are still interested in buying up BTC where they can. The whole “Halving craze” is based primarily on this idea that a decrease in the coins being mined will lead to positive price action over the following year and we may see this accelerated exponentially by these major corporations eating up the already limited supply.


3 Reasons Why Bitcoin Bulls Will Remain In Control

In this post, @taskmaster4450le outlines 3 reasons why BTC bulls will remain in the driver’s seat for the months to come.

  • Number of 1K Bitcoin Wallets on the rise
  • Institutions are buying — Coinbase marked an increase from $6B under custody to now $20B since April of this year
  • Visa is making long-term moves to support digital currencies — CBDCs and possibly other digital currencies

Who or What Will FOMO Into BTC In the Next Cycle?

This next post by @markkujantunen highlights another angle of mass adoption coming to BTC. The previous posts highlighted the institutional money and usage coming into the space, but this post touches on the possibility for central banks to FOMO into BTC as a reserve asset.

This conversation has taken a bit of a backseat as the whole space lasers in on all the institutional attention, but this still plays a central role in future BTC adoption. As FOMO sets in, retail investors won’t be the only ones buying. Institutions are already stepping up and central bankers won’t be far behind.

Altseason looking like it may be about to begin…

@jrcornel talks about the beginning of Altseason as we see BTC cool off and the alts take the stage. This happened in the last major BTC cycle, but will we still see that major 10–100x run in the top ALTS this time around? Time will tell.

The Venezuelan Economic Chaos — Part 1

Many have called Covid the great accelerator. This applies to technological adoption but it also applies to global financial crises. Venezuela has been hit hard even pre-covid with malicious central bank actions and other devaluations to their currency.

This is precisely what BTC aims to solve and it’s more important than ever that we follow what’s happening in other parts of the world as the cadence of BTC’s mission plays out. @juanmolina wrote a great post outlining what’s happening now.

It Wouldn’t Be a Bull Run Without Crypto Scams

@friendlymoose reports on the latest Uniswap scam — a fake Uniswap app posing as the real thing in the Google Play Store.

Now is the most important time to remind and educate everyone to proceed with caution in the space. There’s never a shortage of scammers in crypto but when the bull run hits, there is a massive surge in the amount of scams and malicious activity. Stay vigilant and always beware of what you’re downloading and why.




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