ilqdty daily2 min readRead the latest
liquid, a bitcoin sidechain, paused itself after 3,996 bitcoin left the wallet that backs it
that is about $320 million and nobody has said yet where it went.
| Markets | Level | 7d |
|---|---|---|
| $BTC | $79,389 | +1.0% |
| $ETH | $2,488 | +0.9% |
| $SOL | $104.88 | +1.9% |
| F&G | 71 greed |
01Crypto4 stories
- US spot bitcoin ETFs took $986.9 million last week, a third straight week of money coming inthe block
- $ZCAT, a cat memecoin, has paid its holders $2.8 million in zcash by taxing every trade 3%coindesk
- harmony is shutting down its own blockchain and moving its ONE token to ethereum, with $1.37 million set aside for the validatorscoindesk
- whoever drained coldcard wallets ran 45% of the third wave of stolen bitcoin through coinjoin, a mixing servicegalaxy research
02Macro3 stories
- opec+ froze october output after six straight months of raising itcnbc
- brent closed friday at $96.28. it sat near $70 before the war startedal jazeera
- six ships crossed hormuz on wednesday against an average of 13 a day, and the US destroyed or disabled three iranian tankers after missiles targeted one of its carriersal jazeera citing kpler, cnn
03Solana trenches1 story
- pumpfun paid $26.5 million to its token holders over the last 30 days, $0.38 million of that in the last day, running under its own monthly pace. 77% of what it earns now goes to holders, against 29% across its whole life.
04Today3 stories
- US markets are closed for labor day, so crypto trades without stock and bond liquidity behind it
- the fed is in blackout until its september 15 and 16 decision, so no official comment arrives to move rate odds this week
- thursday brings august producer prices at 8:30am, the wholesale read that shows whether the oil move is already in the pipeline, and friday brings consumer prices
05My view
opec+ spent six months adding barrels and stopped this week. that is the story i would tell a friend today, and it lands in the same week the US publishes august consumer prices.
the part that bothers me is that buyers kept adding to bitcoin ETFs while oil was doing that. energy walks straight into an inflation print, and a hot print is the one thing that pushes the fed to hike on september 16 instead of sitting still.
one of those two is early and i cannot tell you which. friday's consumer price number settles it, and the ship count through hormuz gets there before any of it reaches a gasoline price. for now buyers are the ones paying up, and the evidence is the ETF money arriving in a week when oil kept climbing.
happy labor day to everyone off today. if hormuz prints under six ships again this week, i'll post it.