Spencer Ventures Daily Newsletter - August 3rd, 4th, & 5th

Daily Market Movers

News & Current Events

• US Stock Market Loses $2 Trillion Of Value In One Day

  US stocks lose more value in one day than the entire crypto market is worth

• Crypto Majors Fall 20% Over The Weekend

  ETH touches $2,100 while SOL sees more than a 40% drop in a week

• S&P Volatility Index Hits Highest Level Since ‘08 Crash & Peak Covid

  $VIX jumps over 100% in 24 hours, reaching historic levels over 65

• $1.2B Gets Liquidated From Crypto Markets Over 24-Hour Period

  300K crypto traders experience liquidations as leveraged positions unwind

• Crypto Sees Slight Rebound After US Markets Open On Monday

  SOL goes from $110 to over $135 while ETH bounces to over $2,500

• Polymarket Odds For Emergency Rate Cut Spike To Over 50%

  Prediction markets start pricing in emergency rate cuts after recent events

• Europe’s 4th Largest Hedge Fund Holds $500M Worth Of Bitcoin ETFs

  Capula Management recently reveals they hold $500M of spot BTC ETFs

• Jump Crypto Unstakes $400M ETH And Sends Funds To Exchanges

  Crypto firm faces insolvent rumors after selling massive amounts of ETH

• Abstract Chain Previews Feature For Gas-Free Transactions

  Upcoming layer 2 shows off new feature where gas fees are free for users

• Numerous Trading Platforms Go Down As Global Markets Break

  Schwab, TD Ameritrade, Robinhood, & more all go down while markets dump

• Blast $USDB Momentarily Depegs To $0.95

  USD on Blast fell below $0.95 as major liquidations hit across markets

Mints, Claims, Events, & More

• Username Registration Now Open For Pudgy Penguin Trading Cards

  Orange Cap Games opens name registration for virtual trading card game

• Pacmoon Burns 50% Of Supply Before Upcoming Bridge

  Blast’s top memecoin burns half of supply with more announcements soon

• Jupiter Exchange Approves Proposal For 30% Cut In Token Supply

  Supply of JUP tokens will now be reduced after recent cut in team allocation

• Floor Protocol Enables Micro-Token Upgrades

  Users of uBAYC and uPPG can now upgrades their assets to V2 tokens

• Sandbox Now Allowing $SAND To Be Bridged To Other Chains

  Sandbox uses LayerZero to bring $SAND to Base, Polygon, & BNB Chain

• $PAIN Memecoin Rumored To Be Coming Soon

  New account for $PAIN gets created and followed by Memeland CEO