Today’s Narrative - 📈Bullish📈

Macros

• Bitcoin’s bouncing, altcoins are pumping. The Thanksgiving week resilience is a good look.

• Funding metrics are steady—no frothy madness in sight (yet).

• Geopolitics Update: Israel and Lebanon agreed to a ceasefire, dialing down tensions with Hezbollah. Let’s see if this eases broader risk sentiment.

Crpytos

• Ethereum Ecosystem & Base Tokens

  • Ethereum’s crew is flexing—Base ecosystem tokens are moving, and Virtuals on Base are popping off, thanks in part to crypto Twitter taking notice.

  • $ETH’s strength signaling it’s altseason.

• Privacy Coins

  • Tornado Cash is back in the spotlight! A U.S. court ruled sanctions on its smart contract illegal, causing $TORN to skyrocket by over 1000% (and settle around +500%). Could this spark a privacy coin comeback?

• Emerging Tokens

  • $MODE: An ETH L2 dabbling in AI agents with a manageable FDV (~$215m).

  • $CONSENT: A cross-chain experiment launching on Solana and Base, led by Metamask’s co-founder.

• Airdrops & New Projects

  • Movement Foundation's MoveDrop: Register by December 2.

  • WalletConnect’s $WCT airdrop is live—claim and stake now!

  • Flashbots’ BuilderNet: Ethereum’s latest block-building network launched, redistributing MEV and gas fees.

• Big Spenders

  • Arthur Hayes made waves with a $2.8M investment in $ENA, buying 4.91M tokens for 874.9 $ETH.

Our Stance

Our bad for the late drop—technical gremlins got us. But that’s the only bad news today because the market’s got some serious Thanksgiving vibes. Bitcoin’s waking up and altcoins showing signs of life. But we’re riding the bounce but still being cautious, waiting for a clearer range to form before jumping in more with conviction. The resilience of altcoins during a typically slow holiday week is encouraging, especially with Ethereum’s ecosystem flexing its muscles. Tornado Cash’s news could reignite the privacy coin narrative, but let’s not forget the history of exchange delistings. For now, it’s about observing key narratives—like Base’s momentum, Ethereum’s ecosystem growth, and fresh experiments like $MODE and $CONSENT—without rushing to bet the farm.And before we wrap, here’s wishing you a Happy Thanksgiving—may your plates be full, your charts be green, and your trades hit all-time highs. 🦃🚀

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📈Bullish📈

Tornado Cash: From Villain to Victory

It’s rare that crypto wins in court. But Tornado Cash? It just flipped the script. Once the Treasury Department’s punching bag for being a “criminal tool,” this privacy mixer just got a major legal W that could shake up how regulators handle DeFi. Let’s dive into the chaos.I

The Legal Bombshell

• On November 26, 2024, a U.S. court ruled that the Treasury went too far by sanctioning Tornado Cash's smart contracts.

• Why? Because smart contracts aren’t “property.” They’re just lines of code that execute on their own. No hands-on management. No wallets. No criminal mastermind behind the scenes (unless you count the devs… more on that below).

• This decision pulls Tornado Cash out of the regulatory penalty box. For now.

Market Reacts: $TORN Goes Tornado Mode

• After the ruling, Tornado Cash’s token, $TORN, exploded by over 1000%, like it was shot out of a cannon.

• It’s since cooled to around a 500% gain, but privacy coin lovers are officially awake—and probably checking the charts every five minutes.

But don’t get too excited. Exchanges still side-eye privacy tokens, and Tornado Cash isn’t exactly basking in a golden halo just yet.

The Developer Drama

• Remember Tornado Cash developer Alexey Pertsev? Earlier this year, he was sentenced to over five years for laundering $1.2 billion through the platform.

• So while the code might have won its freedom, the people behind it? Still very much in regulators' crosshairs.

What’s Next for Crypto Privacy?

• Exchanges: Will $TORN relist on the big platforms, or will they keep it blacklisted for compliance reasons?

• Regulation: Don’t kid yourself—this ruling doesn’t mean regulators are throwing in the towel. They’ll probably rewrite the playbook.

• Developers: If you’re working on privacy tools, this case might give you hope—but Pertsev’s conviction shows you’re not off the hook.

Our Take

Tornado Cash just gave crypto privacy a glimmer of hope. The ruling shows that decentralization can hold its own in court, but this doesn’t mean the privacy war is over. Regulators are watching, and they don’t like losing. While $TORN holders are celebrating, we’re taking this as a signal to stay sharp. Privacy tokens might get a second wind, but developers and projects are still skating on thin ice.

🧐Analysis🧐

Morpho Lending: A New Era for DeFi Lending

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