🌶️ WalletConnect airdrop is around the corner

We pumped, we pumped hard finally. It’s most likely related to the expected Fed rate cut. Everyone is bullish that new money is going to hit the market. However, I would still be cautious because we could see unexpected red candles if the Fed cuts rates by less than expected. Or fast pump and even faster dump — traders will use this optimism for short-term trade.

Also, we got more bullish news today. Crypto adoption grows, and institutions join it one after another. I mean, how this could be a bear market?

By the way, this email arrived a bit late due to some issues with service providers. It’s all good now!

And here is what you’ll find in today’s edition:

• WalletConnect to launch a token

• S&P 500 new all-time high

• Hamster Kombat snapshot

• A positive day for Bitcoin ETFs

• and more…

📰 Crypto & Finance News

• The Federal Reserve is expected to cut interest rates by 25 bps, according to a CNBC Fed survey.

• The S&P 500 reaches a new all-time high of $5,670.

• Deutsche Digital Assets’ new macro Bitcoin ETP launches trading today.

• The US government highlights Caroline Ellison’s ‘extraordinary cooperation’ ahead of her sentencing.

🪂 Airdrops & Opportunities

• WalletConnect announces upcoming airdrop. 185 million tokens called $WCT to be distributed. More details soon.

• Hamster Kombat snapshot to be taken on September 20th, 6 pm UTC.

• Free crypto-related merch on Coinbase shop. You have to get an NFT that unlocks the merch in the first place. US only.

🤡 Degen Section

• Wintermute's decentralized prediction market will feature TRUMP and HARRIS tokens, providing an alternative to Polymarket. These elections became a sports event.

• Gemini Exchange lists $WIF for spot trading.

• Will Trump appear on the “Hawk Tuah” podcast? Yup, that’s a real bet on Polymarket.

🔒 Security

• The SEC charges 3 individuals and 5 companies for running pig butchering scams.

• The FBI seizes websites connected to cryptocurrency recovery fraud.

🦁 Alpha & Insights

• Singapore’s DBS Bank (one of the biggest in the country) is set to launch Bitcoin and Ethereum options trading.

• Phantom, probably the most popular Solana wallet, has introduced usernames. It makes sending crypto easier and quicker.

• DYDX is set to enter the prediction market sector, allowing users to place leveraged bets on event outcomes.

• SUI Network is integrating native USDC to boost liquidity and improve transaction efficiency across its platform.

• Key Opinion Leaders (KOLs) are bad for the crypto industry? Could never have thought.

📈 Other Metrics & Numbers

• A monthly number of active Solana wallets hits an all-time high. However, if you check the previous edition of SpicyBlock, you’ll find a post on X where the possibility of a huge number of bots could increase these stats drastically.

• Bitcoin ETF flows yesterday were positive, totaling $12.8 million.

• Coinbase's Base Layer 2 breaks transaction records, surpassing 4.5 million in a single day.

🐋 What Whales Do

• Ceffu deposited 28,865 ETH ($66.74 million) and 450 BTC ($26.5 million) to Binance in the last 24 hours.

😶‍🌫️ To Cheer You Up

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Disclaimer: The content of this newsletter is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are highly volatile and can involve significant risk. Always conduct your own research and consult with a qualified financial advisor before making any investment decisions. The opinions and information provided here are not a guarantee of future performance and should be considered carefully in the context of your personal financial situation.