Stacked Insights Newsletter, 08.12.21 The beginning of Up | Stacked

Stacked Insights Newsletter, 08.12.21

The beginning of Up Only season?
Why crypto doesn't care about congress
Stacked + FTX debut auto compounding returns for lenders

All crypto markets getting SENT

After tense weeks in which crypto was in the crosshairs of US congress and regulators, traders have released a sigh of relief in the form of massive green candles everywhere.

As pointed out in our previous update, BTC firmly broke above the weekly downward line of resistance and is now sailing toward its next test at $48K.

ETH is outperforming BTC by quite some margin at +29% this week. That's well within mooning territory and has much to do with EIP-1559 turning ETH into sound deflationary money. Since the upgrade, nearly 30,000 ETH has been burned from the supply

Want to watch ETH become ultra sound money? Well then look no further than this sleek dashboard —> ultrasound.money

Similarly, DeFi is climbing nonstop & has added $35 billion total value locked since mid July. FWIW, DeFi's all time high is $90B TVL. Right now we're sitting at a solid $80B TVL — we wouldn't bet against a new DeFi ATH incoming this month.

And that all brings us to...the NFT market. Crypto Punk trading volume in the last 7 days alone is $110M+ with Bored Apes, ArtBlocks, and Meebits not too far behind.

All in all, the crypto market is back above $2 trillion and looks primed to climb higher

Why crypto doesn't care what US congress thinks

If Bitcoin rallying above $46K immediately after Senator Shelby of Alabama shot down the crypto amendment didn't quite spell it out, allow us.

Crypto doesn't care about US congress. Why? Because these are decentralized networks, unstoppable assets, and a global community.

We all know the US government is vying for backdoor control of blockchains. The Blockchain Caucus co-chair, US Rep. Bill Foster, said giving the US gov a backdoor is key to acceptance amongst regulators.

Clearly, that isn't going to happen. What's more, it really doesn't matter.

Whether old men in congress approve or not, digital assets will continue trading on uncensorable decentralized exchanges. Developers will continue building decentralized finance protocols and tools that give us what the bankers never could — financial freedom.

So, in this game, the real loser is the US economy shutting its doors to the crypto revolution. We're standing at the forefront of a technological tidal wave. Governments can either ride that wave or fight it, but we all know what happens if you do the latter

Stacked launches auto compounding returns for FTX lenders

If you've been lending on FTX Exchange, you've probably wished for a way to auto compound gains instead of tediously doing so yourself.

At Stacked, we're crypto traders, farmers, and investors too, so we go through the same feels as everybody else — which is why we built the ultimate tool for auto compounding FTX lending returns

All you have to do is connect to FTX Exchange, click the Lending tab in your Stacked Dashboard, then lend from your FTX-connected Stacked account.

From that moment on, your returns start auto compounding while you sleep If you're an FTX.us user, we're launching the same feature for you very soon.

Want to try the auto compound feature out for free right here, right now? Try Stacked for 30 days FREE