Welcome to the Beluga Brief, where we deliver data-driven insights to your inbox every day of the week, spending our time in the crypto trenches and combing through thousands of crypto news feeds so you don’t have to.

What happened today?

Token2049 is coming to a close, but conference season is not over yet. Solana’s Breakpoint conference, also in Singapore, is starting this Friday 9/20 and will feature some of the largest projects and names in the Solana market. Interestingly, pop star Iggy Azalea was supposed to speak at Breakpoint this year however she has now backed out, stating that the conference wouldn’t allow her to bring a mob of dancers on stage to twerk during her debate. I don’t know about you guys but that seems like a pretty reasonable request to me considering this is supposed to be a professional conference (or at least professional for crypto).

Reports from Singapore say the vibes are feeling positive especially after the US Fed decided to cut rates by 50 bps yesterday, sending the crypto market and Bitcoin over $62,000. As we mentioned in the newsletter on Tuesday, increased attention on the AI sector due to OpenAI and others making headlines once again seems to have translated into crypto AI tokens pumping. Bittensor (TAO), one of the largest AI tokens, currently sits up over 12% in the last 24 hours and looks to be breaking out of its range. While I’m bullish on the market myself, seeing trader sentiment shift to bullish so quickly makes me think we are likely due for some kind of correction in the near future. With that said there have been short positions staking up on the major coins for months now, which could turn into pump fuel if the bulls maintain control.

Biggest Headlines

The Beluga intern has been hard at work gathering all the most important crypto news stories so you have them in one place!

The Majors

• Trump buys fans burgers and pays with Bitcoin at New York bar

• Hong Kong may approve Ethereum staking for local spot ETFs this year, says Blockdaemon executive

Regulatory

• Binance executive: US election will not have much impact on global crypto regulations

• Some crypto advocates working to move Harris away from Gensler, says Anthony Scaramucci

Alt Coins

• Dogecoin records bump in transaction activity, points to bullishness for DOGE

• Foresight Ventures announces multimillion-dollar investment in Aptos to accelerate ecosystem growth

New Launches

• Solana Saga crypto phone successor emerges from stealth as ‘Seeker,’ surpassing 140,000 presales

Miscellaneous 

• Stablecoins are becoming systemically important, Bernstein says

Tweet of the Day

I’ve been seeing a lot of crazy PNL screenshots on twitter, but this small trader here might have my favorite so far. $0.027 to $11 for a 407x.

Recent Beluga Content

Check out our list of some of the most exciting tokens presenting at Breakpoint 2024, and what they might discuss there:

The content on this site is for informational purposes only and should not be construed as investment advice. While Beluga strives to ensure the accuracy and timeliness of information, there may be discrepancies when comparing our data to that of financial institutions, service providers, or specific product websites. Always consult with a professional before making any financial decisions.

Will McKinnon is the Head of Content for Beluga and has spent every day for many years trading coins. For that reason there are too many to name, however his largest holdings by a significant margin are Ethereum and Bitcoin. NFA DYOR