📢 BIG News: We’re Launching Something

Namaskar This is the doodhwala, your crypto newsletter that’s as reliable as a Maruti Suzuki 800. Oh! what a car that was 🥲

IT'S MERGE DAY! 🥳🥳🥳

Keep an eye on our Twitter to receive all the live updates from the merge!

Here’s what we got for you today!

• The trader betting $7 million against LUNC

• DogeChain starts then stops

• Chaach and Charts

• Taaza Tweet of the day

The trader betting $7 million against Do and LUNA

Remember Big Daddy Do?

The dude who went from “Your size is not size” to “I bet big and I think I lost.”

Yeah, this dude.

He’s now facing an actual actual arrest by the South Korean authorities.

And not like a social media arrest where they stop you from shitposting on Twitter. Seriously, he’s been at it and he’s still promoting LUNA.

But only basic 🐝 talk about the plain-vanilla arrest.

We’re your degen doodhwala. And we got a degen LUNA-tale for you.

See, back when everyone was talking about $LUNA to the moon, one dude stood up like Dharmendra in Sholay and said, “Yeh LUNATics ke samne math nachna”

A trader by the name — Algod (dope name tbh) — basically said, ‘F this, Terra is a ponzi scheme, and I bet $1 million that $LUNA’s price will be lower a year from now than it is today.’

Another trader — GCR — agreed and raised the stakes to $10 million.

Do Kwon bit, and accepted both bets.

This was back in March 2022, when LUNA was $90.

Now, it’s $0.0002996.

For Do to win the bet, Luna has to go up 30 million % in less than 8 months.

The only thing is, there ain’t no Luna anymore. At least not the one that was there in March.

Terra Luna split into:

• Terra Classic or $LUNC — original blockchain

• Terra or $LUNA — new blockchain

Now, some say LUNA or LUNC still has value. We don’t really give a 💩

What we’re looking at is another big bet on Terra, specifically Terra Classic or LUNC.

And it’s by the GCR, the same dude who bet $10 million on the OG LUNA crashing. And one btw.

Yep. He’s accumulated over 22 billion LUNC worth $7 million, and he’s short-selling it.

What’s short selling?

His target? A big FAT shunya 0️⃣.

Man’s got big ⚽️ we gotta give him that.

Doodhwala’s take: See, we believe in track records. If someone builds a $40 billion crypto project on hype and hype alone it goes to 0, we’re not on board with their next thang. And if a trader bets $10 million, wins, and is betting another $7 million, they’re likely right! Call us crazy! 

BIG NEWS: Find meetups the doodhwala way

Ya’ll know we love us some web3 meetups 🤌

There’s just one problem — it’s always hard to know when and where it’s happening.

And which’s got the free merch? 👀

So, we’re making it easier for yas.

(just finding the events, not free merch smh)

PRESENTING meetupswala.xyz a place for you to:

• Find web3 events

• Filter by preference: For Devs, Doodh drinkers only, Conferences, IRL meetups, and more

• List web3 events

• Meet the doodhwala

For all you filthy animals who wanna attend, organize, or shoot your shot head over to meetupswala.xyz and get crackalackin.

A BIGG shoutout to Rohan and Vijay who run KryptoKoders for whipping this up in a week.

A WEEK!

Check them out and let them know the doodhwala sent ya 👋

Dogechain starts and then stops! 

Last month, a new L2 chain dropped into the world.

And people started asking:

"Does it have a new use case that is revolutionary?" Umm...

"Does it at least have a good base of developers building great protocols on it?" Kinda...

"Wait...is it meme-related? 😒" HELLS YEAH!

We are talking about the great and powerful DOGECHAIN.

It's a pseudo-L2 based on Polygon (which is an L2 itself). Hence pseudo

Dogechain was launched last month to build a full-fledged DeFi ecosystem for all DOGE believers.

And this month...it was stopped. For several hours.

A bug was found on their bridge network over the weekend and the Dogechain team decided to halt the block creation until the issue was resolved.

The bug allowed exploiters to freely mint wDOGE (wrapped DOGE).

The Dogechain team claimed that no funds were compromised but an independent researcher hinted that $316k worth of funds might have been exploited. 

Dogechain is now up and running again but this event casts doubt on the credibility of the network.

It is currently a PoA (Proof-Of-Authority) chain but the team is planning to transition to a PoS (Proof-Of-Stake) model in the near future.

Can't wait for the DOGE MERGE! 😬

Wouldn't that be something?

Chaach and Charts

Ya’ll can trade BTC in 2 ways — on the spot market or the futures market.

And in the past month, the spot volume has surged compared to the futures volume.

Typically, the sports market is 20% of the futures market by trading volume, but in September, the spot: futures volume is 🚀

Just look at this:

(looks like the opposite of my portfolio) 🥲

Milky Meme Of The Day

If you want more doodh then, be sure to follow our Twitter (@DoodhwalaDaily)

That’s all for today bhaiyo aur bheno! Naale Sigona!

Aakash "Dahi Cheeni" Athawasya & Arvind "Doodh Peda" Krishna

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.