Why Chainlink Link will beat Ethereum in the coming bull run (2024) | Alpha Bites episode #21.

For the market update, JJ unpacks explains how macro forces are starting to give #Bitcoin and #crypto a bit of room to breath as last week's bond market sell-off. The terminal rate appears to have topped and has led to a weakened #DXY, the first down week since July. As the market prepares to hear quarterly data (PPI, Jobless Claims, CPI), expectations continue to fall for more rate hikes. This could give Bitcoin much needed support.

Importantly, #BTC options are setting up to rocket Bitcoin much higher if key resistance at $30K and $35K can be broken.

Ben Lilly notes that the market might be getting ahead of itself on T-Bills. And Ray cautions that the macro situation might be changing quickly as energy prices could spike, adding fresh fuel to inflation.

On this weeks' beta play, the team asks and answers whether Chainlink’s Link is a beta play to Ethereum. And for the first time, the entire team argues that an asset will outperform ETH in the next cycle.

Kodi opens with a review of the Network, noting that Chainlink has the largest share of Total Value Secured (TVS) and has secured it's position as primary oracle system across blockchains. He adds that Chainlink's CCIP messaging would be a revolutionary change for blockchains.

On the Monetary Strategy side, Ben Lilly believes the economics are set up for value accrual. While questions remain around total supply, the use of link for staking and paying for oracles create sustainable revenue models. Additionally, credit markets for Link appear to be strong.

Unsurprisingly, price remains a key challenge for Link. JJ notes that Link is down from it's all time high in dollar terms although it appears to be a in bullish accumulation channel. The LINK/ ETH charts shows strength and suggests a bull market catalyst could easily see link outperform ETH.

Ray wraps up the analysis noting a point of caution; while the Network Strength and Monetary Strategy both suggest outsized strength, Link is subject to the whims of the market and without a macro catalyst or a return of the bear market, Link will likely follow other Bitcoin's price patterns (perhaps as a beta?).

The team all agrees that Link will outperform ETH in the coming cycle but suggest the likelihood of it being a "$9 ETH" is low.

Next, Kodi reviews three projects in the Like / Spike Segment:

* Lido dominance within liquid staking prompts warnings by relevant members of ETH community

* SocialFi project Stars Arena suffers two consecutive exploits, leaving smart contract with just $0.051

* SocialFi emerges as a new crypto trend

Lastly, the team is asked "is #SBF and #FTX the greatest Ponzi of all time?" While the team debates the technical definition of a Ponzi, the unanimous vote is the fraud was next level.

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