💎 Ready for Runes

Hey there 👋,

The Bitcoin rune token standard is launching this weekend, and will enable every protocol building on the chain to release their own token, as well as memecoins to flourish.

Even TradFi is watching:

Fungible tokens launched on Ethereum (ERC-20s) in 2021 represented 50% of the market cap of Ethereum. If the same held true with Bitcoin, right now this would unlock $500B of value, which in 2025 (peak bull) could be in the trillions.

Cheers!

Richard (@richardpatey)

DAI PICKS

• BlackRock says Bitcoin is the most widely adopted digital asset in the world (Link)

• Franklin Templeton Digital Assets releases a paper on Bitcoin Runes speculating that the standard can close the fungible token market cap gap that exists between Bitcoin and other L1s (Link)

• Ord.io raises $2M to spearhead its expansion into Runes (Link)

• Magisat releases a first of its kind Mempool Marketplace allowing users to snipe Ordinals transactions in the mempool (Link)

• Coinbase requests appeal in case with the SEC to clarify if a crypto transaction is considered an "investment contract" (Link)

• Crypto trader GCR returns to X, advising those fully invested to "hold your spot positions and do not capitulate" (Link)

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DOMAINS

As hot as things are about to get on the Bitcoin chain, Travis helps us remember that domains are the OG digital assets:

And with domain investing, Lucas lets us know it’s never too late:

MEDIA

Newsletter businesses continue to be hot assets, but let’s not forget that with the right SEO chops, you can make significant capital building and flipping websites:

And talking of newsletters, the Duuce marketplace has been running its first auction:

CRYPTO

Ethereum NFTs continue to tank, and if you never sold anything Yuga airdropped you since minting a mutant ape back in 2021, you’d be down right now:

The top bid on a MAYC on Blur is currently 1.73 ETH:

I’m even happier I sold mine for over 8 ETH at the end of 2021, even though they continued to run to 40 ETH in 2022 before the start of the market collapse.

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Disclaimer: Nothing in this email is financial advice and I am not a professional investment adviser. I send weekly updates on digital asset news and what I'm doing personally - consider it informational and for entertainment purposes only. There are likely affiliate/referral links in this issue, please use them :)