WTF should I watch out for this week in Web3 🧐

GM Builders. 🚧 

Welcome back to a fresh Monday edition of the BW3 newsletter, where we give you the parts you really need just like the chocolate filled end of a drumstick ice cream cone 🍦 

Here’s whats in the cement mixer today:

• What happened in Crypto Last Week 🧐 

• What to watch for 👀 

• M&A Monday 🤝 

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WHAT HAPPENED WITHIN THE LAST WEEK 🧐 

Market Movements 📉 📈 

Crypto saw a rollercoaster ride last week. Bitcoin continued its September rally, posting a rare 7.9% gain for the month. But, like any good plot twist, the last session of the month saw a 3.7% drop, reminding everyone that volatility is the name of the game.

Crypto Stocks 🪙 

While Bitcoin soared in September, stocks tied to the crypto space like Coinbase and MicroStrategy had their ups and downs. Coinbase shares fell by 5.5% on Monday morning, while MicroStrategy—known for its love affair with Bitcoin—saw a slight dip after nearly tripling its stock value in 2024.

Investment Inflows 🚰 

On the flip side, money continued pouring into the market with $1.2 billion in inflows into crypto investment products—Bitcoin bags over $1 billion of that! It seems expectations of another Federal Reserve rate cut are fueling confidence in Bitcoin as an investment. Let’s keep our eye on those inflows; they could tell us more about where the big money is moving next.

Sentiment on X:

The vibe across X is shifting towards diversification. Investors are looking beyond just Bitcoin. There's growing attention on large-cap coins like Solana and Sui, while blockchain projects are focusing more on enhancing scalability and privacy.

The narrative here? Adoption and interest in decentralized apps and NFTs are still on the rise, even as market uncertainty keeps traders on their toes.

Election. Global Liquidity rising. China Stock Market/Economy. Middle East. Moo Deng.

ALOT going on out there people 😅 

WTF TO WATCH THIS WEEK 👀 

Token Unlocks Incoming 💰

Buckle up! We’ve got a solid $256M in token unlocks coming at you this week.

Leading the charge is ENA with a massive $157.5M (22.5% of the circulating supply). Next up, IMX at $54.88M (2%), and don’t sleep on NEON, dropping a wild $19.69M (93.4%) into the mix.

Expect some wild price swings and potential market shockwaves.

Macro Data Watch 🧭 

You thought the Fed was done?

Think again!

It’s a big week for macro moves, and they’ll be spilling over into crypto:

• Fed Chair Powell spoke today—many listened closely for his next rate cut vibes. 🧐

• ISM Manufacturing Data hits Tuesday, along with JOLTs Jobs Data—both big market indicators.

• ADP Nonfarm Employment on Wednesday + OPEC Meeting for the energy heads.

• Initial Jobless Claims drop on Thursday, leading us into the grand finale…

• the September Jobs Report on Friday. Expect fireworks! (hopefully no duds)

M&A MONDAY 🤝 

Another week but we only one M&A deal came across the radar over the last 7 days!

(Hit reply and let us know if we missed any 🤙)

So even though we got just one major deal to spotlight, it’s a big one: Kraken has officially closed the acquisition of Coin Meester B.V. (BCM), marking a significant step in Kraken’s European expansion strategy.

Here's the lowdown:

Kraken, one of the crypto OGs, has locked down one of the Netherlands' most respected and oldest crypto brokers, BCM. This move gives Kraken an even stronger grip on the European market ahead of the much-anticipated Markets in Crypto-Assets Regulation (MiCA). With this acquisition, Kraken can now flex its Virtual Asset Service Provider (VASP) status in major markets like Germany, France, Spain, Poland, and beyond.

Why it matters:

• Kraken is beefing up its Euro game, making waves across a fragmented European market that's ripe for consolidation.

• BCM’s integration means Kraken clients will soon access over 200 digital assets, superior security standards, and that 24/7, multi-language support Kraken's known for.

• Kraken’s strategy is clear: dominate Europe with scale, compliance, and a premium client experience.

As Kraken's Managing Director for Europe, Brian Gahan, said: "We’re one of the few in Europe combining global scale with a compliant offering. This acquisition is key in growing our market share in the coming years."

BCM clients, get ready: Kraken’s product suite is coming your way. 🌍

MEME CITY 🏙️ 

Until Wednesday Builders! 🏗️ 

Keep grinding and stay ahead of the wagon. 🚜