Salutations Satoshi Seekers!

You’re reading the Hodl Report, where we unwrap the week’s crypto happenings like a gift you didn’t even know you wanted! 🎁

This week we cover:

• Bull market update 🐂

• Politics in crypto ❎

• Weekly headlines 📰

• DePIN - A real life crypto use case example 👏

Wen Moon, Wen Bull Market? 🚀

We’re all asking the same thing, but Bitcoin’s playing hard to get. 😴

US equities are partying like it’s 1999, Japanese stocks are back in the game, but crypto? Not so much. Bitcoin’s trailing gold, altcoins are lagging behind stocks, and Ethereum’s taking a nap under the table. 😬

Even with rate cuts on the horizon, the Fed’s still keeping things tight, which means Bitcoin’s having a tough time. Altcoins? They’re stuck in a bubble-less bubble, with no earnings to back them up. And Ethereum? It’s got more block space than it knows what to do with - great for users, but not so much for investors. 💸

So, why the slump? Maybe it’s Bitcoin soaking up extra supply, investors choosing gold or the US politics sentiment shifting. Whatever the reason, crypto’s still lagging behind. 🤷‍♂️

While the demand side for Bitcoin is still holding strong and ever increasing, the temporary supply shock is being absorbed by the market and might be what’s keeping Bitcoin stuck in neutral while everything else is revving up. 🚗💨

Bitcoin is trailing gold, and it’s got investors reaching for the shiny stuff instead. 🪙 With global uncertainty on the rise, governments and big players are stockpiling gold, which has that centuries-old reputation as a “safe haven” during turbulent times. With Bitcoin’s market cap only a fraction of that of gold, there’s plenty of room for growth when investors make the switch.

US politics continues to evolve, with the odds on Polymarket shifting, reflecting the changing dynamics. Trump is out ahead again with Harris missing a key opportunity to win over crypto voters, potentially alienating a crucial demographic with her unclear stance on digital assets. Meanwhile, RFK Jr. has dropped out of the presidential race, with speculation swirling that he might throw his support behind Trump - a move that could significantly impact the crypto community. All eyes are on today’s (Aug. 23rd) announcement to see if this speculation becomes reality.

With crypto in the political crosshairs, this election could seriously shake up prices. Trump’s victory might spark a Bitcoin bull run, while a Harris win could keep prices in check. But in the long run, crypto’s unstoppable - no matter who’s in charge. 🚂💨

We’re all itching to know what’ll kickstart the next crypto bull run. 🐂 Last week, we broke down the 4 big reasons that could spark the bull run. If you missed it, don’t worry - we’ve got you covered because these catalysts could be just around the corner:

1. Inflation is cooling off 📉

2. Rate cuts are just around the corner ✂️

3. Fresh liquidity is about to flood the market 💧

4. And with US elections on the horizon, the current administration will ensure the economy is booming before November 📈

1. USDC Tap-to-Pay on iPhone Coming Soon: Circle CEO Jeremy Allaire announced that USDC stablecoin tap-to-pay functionality is on its way to iPhones, following Apple’s decision to open its NFC chip to third-party developers. This move could pave the way for stablecoin payments and Bitcoin-based transactions on Apple devices, marking a significant shift in mobile payment options

2. Tether Launches AED Stablecoin in UAE: Tether has partnered with UAE-based entities to launch a new stablecoin pegged to the Emirati dirham (AED). This initiative marks a significant step in expanding Tether's influence in the Middle East, with the AEDT stablecoin set to facilitate more seamless digital transactions in the region.

3. ETFs Could Soon Surpass Satoshi's BTC Holdings: US Bitcoin ETFs are rapidly accumulating assets and may soon collectively hold more Bitcoin than Satoshi Nakamoto’s estimated 1.1 million BTC stash. With increasing institutional interest, these ETFs are becoming major players in the Bitcoin market, signaling growing mainstream adoption.

4. First Leveraged MicroStrategy ETF Debuts: The US has launched its first leveraged ETF focused on MicroStrategy, allowing investors to amplify their exposure to Bitcoin through the company’s significant BTC holdings. This new product offers a way to bet on Bitcoin’s price movements with added leverage, highlighting growing interest in crypto-related investment options.

5. El Salvador Introduces Bitcoin Certification: El Salvador has launched a Bitcoin certification program for upskilling government employees, aiming to enhance their understanding and use of cryptocurrency. This initiative reflects the country's ongoing commitment to integrating Bitcoin into its financial system, following its adoption as legal tender in 2021.

DePIN

(Decentralized Physical Infrastructure)

The Draft Pick Crypto Adoption’s Been Waiting For! 🏆

Crypto's been full of awesome products that crush it in the crypto space but haven’t quite hit the big leagues of mainstream adoption. Enter DePIN (Decentralized Physical Infrastructure Networks), the up-and-coming use case that’s making waves by getting everyday users participating in the platform without even knowing it runs on blockchain technology…true adoption! 🔗

Two great examples of DePIN that are currently taking off include Hivemapper and Helium.

Hivemapper is like running your own Google Street View car, but with crypto rewards. Users video-map their streets, building a decentralized map of the world - one street at a time, while being rewarded for doing so.

Helium is a decentralized mobile network that pays you to share your 5G bandwidth. Yep, you could make your mobile service cost nada by just being a part of their network!

So, why the hype? These projects are solving real-world problems - like mapping and mobile infrastructure - by using token incentives to get users to build out data and infrastructure in a decentralized manner, at a fraction of the cost.

Now that’s how you go from the minors to the number one draft pick! 🥇🔥