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Health, Wealth, and Happiness

March 1, 2024

"I think bitcoin is on the verge of getting broad acceptance by conventional finance people."

- Elon Musk

Howdy, investors!

• Bitcoin has stayed above $60,000 for the past several days, driven by demand for spot bitcoin ETFs. How high will it go?

• The Uniswap vote is happening today. Here's why we think it's a buying opportunity for UNI, especially in light of this new bull market.

• If you're interested in restaking your crypto to qualify for upcoming airdrops, check out the video below.

Read on to explore more!

The Uniswap (UNI) Buying Opportunity

by John Hargrave

Today, I bring you a buying opportunity.

There’s a vote happening right now on Uniswap that I believe will greatly increase the short-term value of UNI.

Whether it is a good thing for the long-term value of UNI is debatable.

The full proposal is here, and you can watch the live vote here.

The TLDR is that the vote, if approved, will share Uniswap fees with tokenholders who “delegate” their tokens. Think of “staking rewards” that you can earn by staking ETH, and now imagine a similar kind of reward for UNI.

My prediction is this proposal will pass, because UNI token holders will like the idea of making extra money on top of their UNI. (Who wouldn’t?)

Indeed, the price of UNI has already rocketed upward in recent days. I’m predicting it will go even higher.

In today's column, I’ll break down what this proposal is trying to do, what I believe it will actually do, and the new long-term problems that Uniswap will face when (not if) the proposal passes.

Read about the Uniswap Buying Opportunity here >>

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Must Read

Today's most important stories for crypto investors.

How to Qualify for Ethereum (ETH) Airdrops by Restaking (YouTube)

This video from The Defiant highlights how you can use restaking with seven projects that could provide users with extensive airdrop rewards in the coming months. It begins with the most obvious - EigenLayer - and highlights the steps needed to properly restake and qualify for the potential airdrops.

Bitcoin ETFs See Record-High Trading Volumes (CNBC)

Bitcoin ETFs have seen a surge in trade volume, with a number of funds seeing record trading volumes in recent weeks. As BTC passes the $60,000 mark, the rise in ETF trading volume can be seen as a reflection of the growing interest in bitcoin. It's a good thing for us long-term HODLers.

Don't Be Afraid to Dream a Little Bigger (The Knower)

This bull cycle could be different from previous ones, due to the maturation of the crypto space and the increasing interest from institutional investors. This article is an optimistic view of the future of crypto, encouraging us to dream a little bigger when considering the next potential high for the market.

Bitcoin Blasts Past $60,000

+ our 2024 Guide to Cryptocurrency Taxes.

Which Crypto Investments Have the Lowest Risk?

Our Blockchain Risk Scorecard roundup.

Are Crypto Points Worth Your Time?

How crypto points work, and what they’re worth.

Ethereum ETFs: Your Guide to the Next Big Crypto Investment

Should you invest in ETH now, or later?

Airdrops vs. IPOs

Are airdrops worth your time?

Chart of the Day

Bitcoin trade volume over the last 10 years

Courtesy Token Terminal

Since last fall, we've seen a significant uptick in trade volume for bitcoin, though it remains well below levels seen from 2019 through early 2023.

It's likely this increased volume is coming from the recently approved spot bitcoin ETFs, in which case the upward trend may continue. Trade volume could well triple from current levels if we are to surpass the 2021 bull market.

One caveat is that increased trade volume could also lead to increased volatility. The price of bitcoin may yet go higher from here, but as always our approach is to HODL for the long term.

Our approach: HODL for the long term.

(Thanks to _Vincent)

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