📺 Dear John Oliver, crypto ain't just gambling

Namaste, this is the doodhwala. We’re the only crypto newsletter that feels like the first drop of rain after the hot summer months. 😍

Here’s the weather report for the day:

• 📺 Is crypto just gambling?

• 🔥 It’s Solana Season, Baby!

• 📈 Gas Guzzlers of Ethereum

• 🛠 WTF is Data Availability?

• 🍼 Solana's Smart Chat

Let it rain!

📺 Dear John Oliver, crypto ain't just gambling

John Oliver.

Yes, I'm talking about that British comedian who looks like Dexter from Dexter's Laboratory, who grew up and chose finance over science. And then started talking in a fake English accent. 🥲

My man John dropped a special episode on Cryptocurrencies. We took a peak 👀

Here's the TLDR:

• Crypto is in trouble AGAIN

• Crypto companies create tokens out of confidence but they have no value

• He broke this ☝️ down using 3 examples :

🌕 Terra – a cryptocurrency

🏦 Celsius – a crypto lender

🤡 FTX – a crypto trading platform

Damn, that ☝️ looks like the best worst Crypto Wrapped 2022 ever. 😭

But seriously his main argument was – crypto is a game of confidence. The dude that has the most confidence wins.

Do Kwon had (cocky) confidence. Sam Bankman had (autistic) confidence. Even Alex Mashinsky (the Celsius dude) had confidence.

And what happened:

🪙 Coins → people bought their coins (LUNA, CEL, and FTT)

🏦 Companies → these coins were used to prop up their companies (Terra, Celisus, and FTX)

🤪 YOLO → they eventually YOLO-ed it all away (Luna was a failed experiment, Celisus loaned it to degen traders, and FTX moved it to Alameda)

While discussing all this ☝️ man dropped some hilarious jokes. John must be reading the doodhwala to know what jokes to avoid. Cuz we always bomb 😢

His conclusion from all of this?

Crypto is still a "badly run casino." 🎰

Anyone can come in, build a company + launch a coin + get people to invest in it.

His mic drop line 🎙️:

Well, that's NOT really true tho is it Johnny boy! 👎

Here's what you can do with crypto right now:

• NFTs – create, distribute, and monetize artwork

• Derviatives – trade doggy coins with 20x leverage

• DAOs – create, monetize, and incentivize communities

• Wallets – send crypto to anyone anywhere in the world

• Lending – take out a loan in a stable currency in minutes

• Exchanges – exchange one crypto for another at anytime

• Staking – earn passive income by securing a blockchains

(subtle 🔌 : and you can read about ☝️ on the doodhwala #subscribe)

🔥 Solana: From Barely Surviving to Thriving

The glass chewers have done it…AGAIN!

Solana, the blockchain that’s LITERALLY named after a beach in California is amping for the summer season. ☀️

And we’re ready for it! 🔥

What’s going on? 🧐

This week a new NFT project, called Mad Lads, was launched on Solana. ⚡️

We wrote about it here.

And just in TWO days, it single-handedly took Solana to the moon. 🚀

Here are two BIG things that happened since the launch: 👇

1️⃣ Solana became the KING of daily active users (DAUs) beating:

• Polygon 🧬

• Ethereum ♢

2️⃣ Mad Lads became the biggest NFT project on Solana

It reached $22 million market cap in less than FOUR days. 🤯

(but that's also because the historically two largest NFT projects on Solana left for Ethereum and Polygon in March so whomp whomp whomp)

Hot damnnn! 🔥

And where is all this NFT volume coming from?

It has to be from the biggest NFT marketplace on Solana, Magic Eden, right?

HELL NAH! ⛔️

It’s coming from another marketplace called → Tensor 🔥

Tensor is a marketplace built for NFT traders.

Wait…where have I heard that line before? 🧐

Yup.

Tensor is like Solana’s version of Blur. 😅

🔵 OpenSea → Magic Eden

🟠 Blur → Tensor

So there is a version of OpenSea vs Blur happening on Solana as well. 🥲

Tensor had a 24-hour trading volume of 108k SOL or $2.4 million.

That’s 47% of the total trading volume of the top five marketplaces on Solana, including Magic Eden. 🤯

And on both the marketplaces, Tensor and Magic Eden, Mad Lads was the primary driving force behind the MAD volume. 🔥

Overall, things are looking up for Solana.

But we have to wait and see if it's a short-lived pump.

Cuz remember $BONK?

The dog-related meme coin on Solana that took the on-chain activity to crazy high levels. 🔺

How long did that go on for? Not that long. 🤦‍♂️

But Mad Lads is not yet another meme project, so let’s hope it lives for MUCH MUCH longer! 🤞

📈 Chaach and Charts: Gas Guzzlers of Ethereum 🚀

Gather 'round, my doodhs! It's time for a little history class! 📖

And trust us, it's more exciting than your grandpa's stories. 🧓

So, let's take a trip down memory lane and explore the gas history of some major exchanges.

Binance + Coinbase have been reigning supreme as the kings of gas expenditure. 👑

🟡 Binance - The Consistent Gas Spender

This powerhouse has been consistently chugging gas since 2017, and it doesn't look like it's gonna stop anytime soon!

🔵 Coinbase - The Gas-Devouring Competitor

Coinbase is giving Binance a run for its money!

The 🇺🇸 exchange has been in the game since 2012 and has emerged as a gas-spending heavyweight in its own right.

Now, the million Gwei 💰 question is:

Will Binance continue to dominate the gas game, or will Coinbase rev up its engines and take the lead?

After all, Coinbase launched a layer-2 blockchain on Ethereum. 🏁

Who do you think will be the next big gas spender?

Hit REPLY and let us know your thoughts on these Ethereum exchange titans! 🗣️

🛠 Resourcewala: WTF is Data Availability? 🤔

Ever wondered why "data availability" is such a hot topic when it comes to blockchain scalability? 🚀

Ethereum's shift to data sharding and the rise of modular blockchains have put data availability in the limelight.

Now, if you're still scratching your head, don't worry, we've got you covered! 🧠

In today's Resourcewala, we'll uncover:

• What exactly is data availability?

• The data availability problem explained

• Why solving this issue is crucial for blockchain scalability

So, let’s jump in! 🚀

🥛Doodhshots: Solana's Smart Chat 🤖

• 📈 Deloitte Digs Crypto: Deloitte on a crypto hiring spree, as LinkedIn job postings reveal a massive talent hunt. Can you smell the crypto fever, job seekers?

• 🤳 MeWe Meets Blockchain: Social media app MeWe to bring Frequency Blockchain's self-sovereign identity to its 20M users. Identity revolution, anyone?

• 🧠 Chatty Solana: Solana Labs' ChatGPT plugin enables AI to fetch blockchain data, making crypto convos more intelligent than ever. Who said robots and blockchains don't mix?

• 🏈 NFT Touchdown: NFL Rivals NFT Mobile Game kicks off, with plans to move to Polkadot for a better gameplay experience. Ready for some pixelated pigskin action?

• 💼 Bitpanda Banks On It: Bitpanda and Raiffeisen Unit partner to offer crypto for banking customers. Coins and cash, side by side? You bet!

🤣 Milky Meme Of The Day

💰 Don’t be dumb, be crypto smart

Look we dunno how to invest in crypto. 🤷‍♂️

So what we do is buy everything in one shot, through something called Coin Sets.

Tf are Coin Sets?

If you want more doodh then, be sure to follow our Twitter, our LinkedIn, and our Instagram.

That’s all for today folks! See ya tomorrow!

Yo! Our legal and financial advisors (aka our good ol’ conscience) have asked us to add this boring disclaimer.None of what you read here is financial advice. We aren’t here to get you to buy or sell a crypto. We’re only here to tell you what’s up in crypto today and make you laugh. So, if you screwed up on a trade, that’s on you G. Stay safe in the markets.