🫂 The Soon-To-Be Biggest Niche In Crypto

Gm this is the doodhwala, the only crypto newsletter that gives you the same feeling as watching cartoons on a Saturday morning in your pajamas. 😍

Ahh, those were the days!

Here’s what we got for you today:

• 🫂 SoFi > DeFi: The soon-to-be biggest niche in crypto

• 🇬🇧 No Crypto Innit?: UK’s Financial Authority Comes For Crypto

• 📈 Cheese and Charts: This Woke Up When September Ended

• 🛠️ Resourcewala: Vitalik's Excited For What?

• 🍼 Doodhshots: Pokemon Cards NFT Frenzy

🤯 SocialFi Is Unstoppable

In Crypto, there are pumps.

There are trends.

There are 💩-coins that don't lead to anything. 😵

But there are few sectors of crypto that come in and leave a mark for a looooooooong time in the industry.

And one such industry right now is SocialFi. 📈

Think of it right now as the beginning of how NFTs exploded. 🤔

SocialFi as a sector now is almost unstoppable, now that there are multiple applications on multiple blockchains. 🙅‍♂️

What are these new clones? And why are they unstoppable? 💪

1️⃣ Friend.tech - But on Avalanche

There's a new kid on the block, and he's here to take over. Say Hello to Stars Arena. It's basically Friend tech…But on Avalanche. 😮😮😮

That's it.

Stars Arena is here to take over SocialFi and has already started to make an impact on everyone.

Not just that, it's now got so many users that the Avalanche token is now up over 10%. 🤭

The new kid in the block could be a huge addition to the SocialFi ecosystem. But also a huge competitor for Friend Tech. 👊

Not so friendly now huh? 😈

2️⃣ Stars Arena - Bringing Avalanche out from the dead

Let's be honest.

Avalanche is…struggling.

But with Stars Arena coming in, they literally bought Avalanche out from the dead. ⚰️

How?

The usage of Stars Arena had to execute a lot of on-chain activities — Leading to multiple transaction triggers on the blockchain. 🫰

Just look at that spike in transactions in the last week. 👇

3️⃣ Bear Markets? SocialFi does not give a 💩

Okay so now we have 3 giants in the SocialFi space—

• Friend Tech

• Star Shares

• DoodhFi (built on doodh chain)

What’s funny is that this whole industry is functioning independently regardless of how the crypto markets are. 🤷‍♂️

I mean think about all the events that have been affecting crypto this year:

• Companies going bust and big money leaving the system

• FED and Macroeconomic projections hurting the sentiments of the markets

• Gary Gensler being Gary Gensler

And yet, SocialFi does not give a 💩

This prolly means one thing - It’s here to stay. 💪

The future looks quite interesting now that we have enough people to pull the industry up.

Check out this snapshot of how Stars Arena has now taken a huge chunk of transactions compared to other SocialFi apps. 👇

4️⃣ Bonus: Memes 🤣

No good thing in the market becomes big without a bunch of memes to keep it pumpin’.

Here are some that we found—

🇬🇧 Say No To Crypto Ads

A lot is happening in the U.K. crypto scene. 🇬🇧

No, the King (yes they have a King and not a Queen now) is not coming up with his NFT drops. 😂

But if he were, wouldn’t that be some COOL shit? Well, we’ll have to see and we hope he lives long enough for that. 💀

So, what is it really?

Crypto advertisements.

The U.K. is changing some rules about crypto advertising.

Because of these changes, some crypto companies are stopping services in the U.K. 🚫

And here's the main thing:

Only companies that are officially registered with the Financial Conduct Authority (FCA) can approve their own ads in the U.K.

These companies also have to change their websites to tell people about the risks of investing. 🖥️

In fact, two companies:

👉 ByBit

👉 Luno

That aren't registered with the FCA, are stopping some services for people in the U.K.

PayPal is also pausing some of its crypto services until they follow the new rules.

The FCA is giving companies a bit more time, 3 months, to adjust to these new rules.

But they're watching closely, especially companies from other countries. 🌍

A bit more detail 🧐

Any free goodies to get people to invest are now seen as a "financial promotion" by the FCA.

Don’t worry, you’ll still get that free merch you love!

So, all messages about crypto that seem like they're trying to get people to invest have to follow these rules.

For crypto companies, this means they have to make some changes to their websites.

They're trying to

• add a 24-hour waiting period for new buyers and

• also check if their products are right for their customers.

All things said, mfesr still gotta gamble. 😉

Some crypto companies, like

👉 Bitstamp

👉 Kraken

That are approved by the FCA, said they will keep operating.

And companies that aren't registered and can't approve their own ads have to stop talking about crypto services to people in the U.K.

The FCA didn't talk about specific companies, but they said they're happy with companies that are doing things right. The FCA also totally and honestly told people to – subscribe to the doodhwala. 🤞

📈 Cheese and Charts: September’s Got All The Money

September's been wild, hasn't it?

Not in the "my crush said yes" kind of way, but in the "look at all this MONEY" kind of way. 🤑

The funding rounds this month were like a buffet, with every category grabbing any amount it wanted.

Let’s see the top-5 niches:

• Data Service - $126.23m 💼

• NFT - $53.30m (Digital art or just expensive jpegs? 🖼)

• Gaming - $43.00m 🎮

• Asset Management - $40.00m (Managing assets or just flexing? 💪)

• Infrastructure - $39.00m 🏗

And also:

• DeFi - $35.75m (Traditional banks? Never heard of 'em 💸)

• Payment - $30.50m 💳

• Oracle - $24.00m (No, not the Matrix kind 🤖)

• DEX - $16.50m (Decentralized exchanges, the future? 🔄)

• L2 - $12.00m (Layer 2 solutions, because speed matters! ⚡)

• Launchpad - $10.00m (Where projects take flight! 🚀)

• Social Network - $9.30m (Because tweeting about crypto is life 🐦)

• Derivatives - $7.10m (Fancy word for fancy trading 📈)

• Audit - $6.00m 🕵️

• MEV - $5.15m 🪓

Shoutouts:

• Base Ecosystem - $4.60m 🌍

• Wallet - $3.50m 💰

• Identity - $3.06m (Proving you're you, but digitally 🆔)

• Insurance - $3.00m (Just in case things go south🛡)

• Trading - $2.70m (Buy low, sell high, right? 🤷)

So, what's the verdict?

Is September the new crypto Christmas? 🎄 

Or just another month for VCs to give free money? 🤪

(REPLY and let us know which category you love the most👇)

🛠️ Resourcewala: Vitalik's Excited For What?

Every crypto bro out there is buzzing about the Ethereum application ecosystem. 🚀

From self-proclaimed geeks to the curious noobs, there’s this constant hum about what's going on with Ethereum’s dApps!

And when Vitalik Buterin himself tells what excites him, you better listen. 🧠

Today’s resource cover:🕵️‍♂️

• Innovations that make him go “Woah!” 🤩

• Areas he believes are untapped goldmines? 🌋

• How Vitalik envisions Ethereum's future? 🔮

Let’s find out what got the crypto prodigy all excited! 🔥

🍼 Doodhshots: Pokemon Cards NFT Frenzy

• 😭 Coinbase Cries Foul?: The SEC doesn’t want to pull out allegations against Coinbase, and says that Coinbase is just crying foul. Bro just put charges on them and called them chicken?

• 🐧 Pokemon Frenzy: Pokemon Cards are picking up a lot of traction on Polygon, and there is a huge possible sale frenzy incoming. Imma SNORLAX my way outta this trend thanks.

• 🤫 Quiet Day: SBFs first day in court went off to a quiet start, with him just taking notes and speaking to his lawyers. Commits fraud. Refuses to answer why. WTF?

• 📈 Ripple Gains: XRP jumped above 5% after they YEETED out the SEC, as well as secured a license in Singapore. HeHeHeHeHe… Gary lost again.

• 📉 Bad Losses: Alameda was losing close to half a million dollars every day until Nishad and Gary Wang joined the company. Wow…And this was the elite trading firm we celebrated?

🤣 Milky Meme Of The Day

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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 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.

Today’s edition was brought to you by Ritik Gupta and Sumanth

Edited by: Arvind Krishna and Aakash Athawasya