Good morning, frens! ☕️

The vibes are strong this week - markets are moving, plays are brewing, and everyone is feeling the FOMO.

It’s that sweet spot where everything feels up for grabs 👀

Today we’re discussing:

Our W3oF degen porfolio is netting another slight gains this week - nothing too flashy, but progress is progress.

Let’s hope this is just the warm-up before the real fireworks 🤞

Got ideas or just want to chat about the next moves?

Join the conversation in the #Web3-On-Fire chat on Ambire Discord. Let’s keep the grind going together 💬

Let’s get down to it:

Crypto long awaited moon mission is officially here: BTC shattered the $100K barrier, a moment so long awaited and iconic it left the entire crypto space buzzing.

November also saw a monster $10.4 trillion in crypto trading volume, driven by institutional interest and regulatory optimism 🪙

The message is clear: the bull market is alive and kicking.

While Bitcoin takes the headlines, Ethereum is positioning itself for the next wave. Ethereum’s fundamentals are stronger than ever, and Bernstein’s Global Digital Assets Managing Director, Gautam Chhugani, sees the bigger picture 👇

Ethereum’s transaction fees, while reduced by Layer-2 solutions, still serve as a testament to its massive utility 🛠

With 60% of ETH’s transaction fees burned in the past year, the network is consistently deflationary - a feature that adds to its appeal as a store of value.

Combine this with the growing institutional demand for Ethereum-backed ETFs, and you’ve got a recipe for sustained growth.

Layer-2 solutions are another key part of Ethereum’s future.

Networks like Arbitrum, Optimism, and Base are not just scaling Ethereum - they’re reshaping how users interact with the blockchain.

By reducing fees by up to 99% and increasing transaction throughput, these solutions are laying the groundwork for mass adoption. Base recently hit a milestone of over 1 billion transactions, showcasing the growing ecosystem built on Ethereum 🌱

The question on everyone’s mind: can ETH catch up to BTC’s $100K milestone? 💵

While Bitcoin’s scarcity and narrative as a hedge against traditional finance give it a unique edge, Ethereum’s blend of utility, deflationary mechanics, and institutional interest might set the stage for a rally of its own, so, it’s becoming increasingly probable.

Apparently, not everyone’s celebrating the market popping off.

According to Kraken’s latest survey, a shocking 88% of crypto holders feel they’ve missed out on major gains during the market’s wild 2024 rally 🤯

But the stats don’t lie - 81% said their decisions were swayed by FUD, while 84% owned up to chasing pumps out of pure FOMO 🫠

Emotions, not logic, were running the show for many, with 63% confessing that impulsive decisions tanked their portfolio performance.

Sure, the regret is real, but there’s still a silver lining. Despite the losses, 84% are looking forward to making the most of future opportunities. It’s like the crypto market’s unspoken motto: fall down seven times, get up eight 🫡

Crypto is a wild ride, and FOMO is part of the package. But as they say, no risk, no reward - just keep your wits about you.

The clock is ticking… ⏰ and the Ambire Legends launch campaign is just around the corner 👀

If you’ve been keeping an eye on Ambire’s ecosystem, now’s the moment to step up and secure your spot:

The team is gearing up to introduce something fresh to the Web3 landscape, and early adopters have one last chance to join the ranks. All you need is the Ambire Wallet browser extension, accessible here 🔌

Use the W3oF exclusive invite code: 11web3onfire.

This is your ticket to be part of something new in the Web3 space 🤝

Keep an eye on Ambire’s Twitter channel for updates and announcements in the coming days. With Legends about to be minted, this is the moment to secure your place.

Ah, the Hawk Tuah meme - a flash of internet absurdity that somehow resonated with the collective madness of social media 😵

But what makes it worse is how this nonsensical phrase evolved into a crypto project that cost people actual money 🙃

Yes, Hawk Tuah Girl - aka Hailey Welch - took her fleeting meme fame and turned it into a memecoin rug.

When HAWK hit the Solana blockchain, it followed the playbook of every other influencer-driven token 🤡

Big promises? Check. A quirky pitch? Double check. Terms like "Hawkonomics" slapped together to sound vaguely professional but still meme friendly? Oh, absolutely.

Fans flocked to the coin, driving it to a $500 million market cap within hours. The hype was real. And the crash, well, of course it was inevitable 👇

The space isn’t new to influencer driven disasters, but HAWK stands out for its sheer absurdity.

It wasn’t just a bad idea; it was an idea born from a meme that barely made sense in the first place.

Degens who should’ve known better trusted a half-baked meme and paid the price - some quite literally, with users sharing losses in the tens of thousands.

The takeaway is obvious 🤷‍♂

First, not every meme deserves a coin. Second, the crypto community’s willingness to throw money at anything with a catchy tagline is both its strength and its Achilles’ heel.

With the political winds shifting and Trump gearing up for his return to the White House, the space is buzzing the potential appointment of the new SEC Chair 🤔

Let's break down the intrigue, the implications, and why the crypto community is all ears.

First of all, it seems that Trump has finally made up his mind, the next Chair pick is going to be Paul Atkins - a veteran in the financial world with libertarian leanings.

Why does this matter

As if picking a pro-crypto SEC Chair wasn’t bold enough, Trump has also named David Sacks to oversee U.S. policy on artificial intelligence and cryptocurrency. The position that Trump dubbed the “crypto czar” will shape the administration’s strategy on two of the most critical technologies of our time 🧠

With Sacks driving broader crypto policy and Atkins potentially leading the SEC, the U.S. could finally offer the regulatory clarity that the industry has been begging for. Trump’s picks signal a deliberate effort to embrace innovation. Everyone in the industry stands to gain from this, if everything works out 💲

This also aligns with Trump’s campaign promise to make the U.S. the “crypto capital of the planet” 🫢

His administration's early moves - coming just as Bitcoin hits $100K - feel like a statement: it’s time for the U.S. to lead, not stifle, the crypto revolution. And not stifling it would sound great, to be honest, the industry needs a break.

Lessons from the last cycle, from Red Phone Crypto:

More of the same, but by DocXBT:

Summary of the new posts by Vitalik, by Wu Blockchain:

We'll meet in a week! And remember, the market conditions are temporary, but our commitment to building a better DeFi is here to stay. Thanks for joining us, and we look forward to seeing you back next week. Cheers!

Yours, The 🔥 Team

Brought to you by Ambire: The Only Web3 Wallet That You’ll Need!