POKKET: Today’s Market Commentary (January 29)

Bitcoin & ETH are up ~10%, $33500 & $1345. Movers are SNM +69%, 1INCH +28%, HOT +21%, BAL +20%, SUSHI COMP +18%, and the rest of the Pokket universe is up as well.

Ray Dalio has given Bitcoin his blessing, and has called it ‘one hell of an invention’ (insert obligatory ‘one of us’ meme here…) and is saying his fund have not bought any YET.

Doge coin is up 140% as r/SatoshiStreetBets sends the coin in their version of $GME.

Coinbase is going to directly list shares instead of going through a traditional IPO.

Miami’s municipal website has uploaded the Bitcoin whitepaper – mayor Francis Suarez is en fuego🔥.

DeFi TVL continues to tick up, touching new levels now $26.7B; Antonopolos put out a fitting tweet, “DeFi > BoomerFi”.

In traditional markets, SPX +0.9%, FAANGs -0.8%, GME closes -44%, but is back up +60% post-markets🔥. Robinhood made more enemies today as it haulted buying in GME, while simultaneously unwinding some accounts who bought on margin. They have reversed course due to pressure. Everyone knows by now Robinhood’s flows are sold to Citadel, who also simultaneously bailed out Melvin Capital this week. Fintwit looking more like Cryptwit as Portnoy vs. Cohen, Musk vs. Shorters, People vs. Yellen, etc. Chapman Albin (law firm protecting investors from BoomerFi) is filing a class action lawsuit against Robinhood. Beyond this chaos, DXY is quietly creeping up to 90.5, USDJPY 104.25. Gold? zzzzzzzzz

Check out today’s interest rates at POKKET.


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