On The Pulse - Edition #018
Welcome to On The Pulse, with Maui.

Hey everyone, welcome back to this week's edition of 'On The Pulse.' Thanks as ever to all who have subscribed and are reading this via email. If you're currently browsing, please consider subscribing! If you find today's newsletter valuable, please recommend it to a friend and feel free to suggest topics or ask questions on my Twitter @jordymaui.

🎓 Lesson of the Week: “What’s a DAO?”

In the world of crypto, Decentralised Autonomous Organisations (DAOs) are emerging as innovative models for governance, collaboration, and decision-making. But what exactly are DAOs, and how do they function in the crypto space?

🤝 What are DAOs? 
DAOs are entities governed by code and executed on a blockchain, aiming to operate autonomously without centralised control. They are built on the principles of decentralisation, transparency, and consensus, allowing members to collectively make decisions, manage assets, and govern the organisation's activities.

🌐 How do DAOs Work? 
DAOs typically operate through smart contracts deployed on blockchain networks, such as Ethereum. These smart contracts encode the rules and protocols governing the DAO's operations, including membership, voting mechanisms, and asset management. Members interact with the DAO through decentralised applications (dApps), participating in governance proposals, voting on decisions, and contributing to the organisation's activities.

🗳️ Governance in DAOs 
One of the key features of DAOs is decentralised governance, where decisions are made collectively by the community of members. Governance proposals can cover a wide range of topics, including protocol upgrades, resource allocation, strategic direction, and community initiatives. Members participate in the decision-making process by voting on proposals using their stake or voting power within the DAO.

💼 Use Cases of DAOs 
DAOs have diverse use cases across various industries and sectors, including decentralised finance (DeFi), gaming, social platforms, and governance. In DeFi, DAOs play a crucial role in managing decentralised protocols, liquidity pools, and decentralised exchanges (DEXs). They also enable community-driven initiatives, funding mechanisms, and project development in the crypto ecosystem.

🌱 Challenges and Opportunities 
While DAOs offer promising opportunities for decentralised governance and collaboration, they also face challenges such as scalability, security, regulatory compliance, and community coordination. Overcoming these challenges requires continuous innovation, community engagement, and experimentation with new governance models and technologies.

In conclusion, DAOs represent a paradigm shift in organisational design, enabling decentralised governance, collaboration, and decision-making in the crypto ecosystem. By understanding how DAOs work and their potential applications, individuals and communities can harness the power of decentralisation to shape the future of governance and innovation in the digital age. Explore DAOs, participate in governance, and contribute to the evolution of decentralised communities in the vibrant world of cryptocurrencies!

Major Headlines: "The Weekly Roundup"

🏛 Circle, USDC Stablecoin Issuer, Plans Redomiciliation and IPO:

Circle, the company behind the USDC stablecoin, is planning to redomicile to the United States and pursue an initial public offering (IPO). This move signifies a significant step for the stablecoin issuer, potentially increasing transparency and regulatory oversight. As the USDC stablecoin continues to gain prominence in the crypto market, Circle's decision to redomicile and go public could have far-reaching implications. Dive deeper here.

🟣 Ethereum could be labelled a security next week:

The Securities and Exchange Commission (SEC) appears unlikely to approve a spot exchange-traded fund (ETF) for Ethereum due to concerns over its security status. This development follows a string of rejections and delays for crypto ETFs, highlighting regulatory hurdles facing the industry. Dive into the details of the SEC's stance on Ethereum and its potential implications for the broader crypto market. Read more here.

 🌋 El Salvador Mines Bitcoin Using Volcanic Energy:

El Salvador is harnessing its abundant geothermal energy from volcanic activity to mine Bitcoin. The country's president announced plans to build mining infrastructure around a volcano, taking advantage of its renewable energy source. This initiative aligns with El Salvador's broader efforts to embrace Bitcoin as legal tender and leverage its natural resources for economic development. Read more about this innovative approach to Bitcoin mining here.

Maui’s Weekly Analysis of Charts

Dive into the pulse of the crypto market with me for a quick overview. If there are elements you don’t understand here, don’t worry – feel free to ask me questions on Twitter. Interested in a specific chart analysis? Let me know! I’ll also be holding weekly polls based on your suggestions. Anyway, here are this week’s charts:

₿ BTC (Bitcoin):

• Recent Price Action: Over the last 7 Days, $BTC is up 3% and trading above $64,000 again!

• Weekly Forecast: CPI data came in great today and we are already seeing an instant reaction on BTC, reclaiming $64k and aiming to hit mid-range levels once again.
  
  A very positive statement from BTC price action and i’ll be hoping for a continuation of this higher high and look to challenge new ATH’s. If we cannot break through these mid ranges however, the range will continue to chop sideways.

♦ ETH (Ethereum):

• Over the past 7 days, Ethereum is down 1.5% and struggling to reclaim $3,000.

• Weekly Forecast: Over the past week, $ETH has been hovering just below it’s $3,000 area with little to no price action. The chop and bleed has been relentless.

  
  I’ll be focusing on BTC for the time being and not interested in this sort of price action from ETH!

Bitcoin Dominance (BTC.D) as mentioned last week - could break out its range highs again. It definitely has! Probably a rough time for alts to be making major runs but after the positive CPI results, the majority of the market is moving however be cautious, alt season will come once the king makes its major move.

As always, i’ll mention this: BTC.D up = Money is in Bitcoin, alts bleed or stay stagnant. BTC.D down = Money flowing into alternative coins & bitcoin ranges or bleeds out.

Now, let’s give an update on the altcoins we’re still looking at each week.

(same notice as last week) For now, I will be accumulating at whatever DCA prices and aiming for our same targets in the future. I will keep this section of the newsletter in order for you all to track what I’m buying (regardless of how low it goes) but not updating weekly areas until things bottom out and recover!

/ AVAX (Target of $50+)

/ SOLANA (Target of $180+)

/ INJ (Target of $54+)

/ SEI (Target of $1.30+)

/ MAVIA (Target of $12+)

/ RNDR (Target of $12+)

/ LINK (Target of $24+)

/ MATIC (Target of $1.50)

/ NEAR (Target of $10+)

/ TIA (Target of $24+)

/ FET (Targets of $4+)

/ TAO (Targets of $850+)

/ WIF (Targets of $10+)

/ APT (Targets of $30+)

If you would like me to take a look at any specific charts or go deeper into anything, please feel free to reach out to me on twitter or email!

📰 The Summary: From Crypto Trends to NFT Buzz

Each week, we will end the newsletter with a really brief TLDR (Too Long, Didn’t Read) assessment of what’s been going on this week across Crypto and NFTs. I hope this section provides additional value for those who read!

Crypto:

• 🚀 Market Trends: Up & Away we go! Thanks to CPI of course...

• 📈 US ETF sees inflows again: Led by Fidelity, the US BTC ETC market has once again seen a net inflow - helping move BTC further up.

• 🏦 Wells Fargo buys BTC ETF: After previously dismissing the BTC ETF, Wells Fargo has pivoted and bought it.

• 🇮🇳 Binance & Kucoin win India Licensing: Just these two of the nine major exchanges have been granted access to operating in India.

• 🪙 BTC bounce driven by spot buying: After huge bounces due to CPI news - Spot purchasing is leading the way for BTC.

NFTs:

• 🐧 Pudgy Penguin Toys available in Gamestop: Right on cue with major news around $GME pudgies announce toy drop in stores!

• 🃏 Fantasy Top volume continues: Before their latest tournament, Fantasy top has seen over $5m in volume again.

• 🤑 Pump . Fun outdoes Solana revenue over 24hrs: They achieved $1.2m in revenue over 24 hours beating SOL by $450,000!

• 🎮 Roaring Kitty returns - $GME memecoin runs: The oldschool Gamestop solana memecoin has returned pumping after RK tweets.

• 🐸 PEPE hits all time highs: After several memes begin to run, $PEPE leads the way breaking all time highs.

And with that, we’re wrapped up for another week. If you have any suggestions for lesson of the week, please let me know! If you enjoyed this weeks newsletter, please feel free to support by following me on twitter @jordymaui

Until next time!