Hello, crypto enthusiasts and STAXX CLUB members! As we wrap up August, we’re diving into the whirlwind of events that have shaped this month in the crypto world, particularly focusing on Bitcoin’s price movements and its role in politics, club news and our exciting $50 giveaway!

Bitcoin Price Movements in August 2024

August has been a rollercoaster for Bitcoin enthusiasts. Starting the month with cautious optimism, Bitcoin saw its price fluctuate significantly. From a peak around $66k, Bitcoin experienced a notable drop to $49k, and will close down from August. This decline reflects broader market sentiments, influenced by global economic factors and shifts in investor confidence. Despite this, the underlying tech and Bitcoin’s potential as a store of value continue to be discussed widely, suggesting a resilient AND volatile asset. This period of consolidation may continue some time as we have mentioned in previous newsletters.

Following the dip to $49k, price action remained relatively flat pressing upwards to the $60k line that appears to be a point of interest.

Political Drama Ongoing: Bitcoin and Crypto in the US Presidential Race

The 2024 U.S. Presidential race has seen an unprecedented integration of cryptocurrency, particularly Bitcoin, into the political discourse, reflecting its growing economic significance and potential to influence policy. Here’s how Bitcoin has shaped the race:

Political Engagement with Crypto:

Both major parties and candidates have recognized the political capital in engaging with the crypto community. Donald Trump has shown a notable shift towards supporting cryptocurrencies, emphasizing its role in economic strategy and energy policy. His engagement with the crypto community, including fundraising events and the appearance at the Bitcoin conference in Nashville has attracted significant figures from the industry. This change indicates a strategic move to capture the votes of the millions of crypto holders in the U.S. The Orange man is now Orange pilled.

Regulatory Stances:

The Biden administration’s approach, initially seen as more regulatory and skeptical towards crypto, has faced pushback from within the Democratic Party and from the crypto community, leading to a more nuanced stance. However, actions like vetoing a bill on cryptocurrency custody by financial firms and the SEC’s regulatory approach under Gary Gensler have been criticized, potentially alienating crypto enthusiasts.

Crypto’s Political Influence:

The crypto industry has not only been a topic of discussion but has actively influenced the election through significant political donations and lobbying efforts. This influence aims at fostering a regulatory environment favorable to cryptocurrencies, showcasing the industry’s political awakening and its desire to shape future policy.

Voter Impact:

With millions of Americans now holding cryptocurrencies, candidates are aware of this new voter demographic. The crypto community’s preference, often leaning towards candidates promising less regulation or more innovation-friendly policies, could sway elections, especially in key swing states where margins are tight.

Market Reactions:

The political landscape’s shifts concerning crypto have directly influenced Bitcoin’s market performance. For instance, positive sentiments towards Trump or other pro-crypto candidates have been associated with increases in Bitcoin’s value, suggesting a market reaction to the possibility of more favorable regulatory environments.

Market Sentiment- The Fear & Greed Index has been volatile, swinging from Extreme Greed to Fear within weeks, indicating the market’s emotional response to price changes and external news.

Future Implications:

The integration of Bitcoin and broader cryptocurrency discussions into the presidential race underscores a broader acceptance and recognition of digital currencies’ role in the future economic landscape. This trend is likely to continue, with candidates needing to address crypto-related policies to remain relevant to a tech-savvy electorate.

Bitcoin is political

The 2024 election’s focus on Bitcoin and cryptocurrency represents a pivotal moment, not just for the crypto industry but for how technology, privacy, innovation and finance intersect with governance. This election cycle will set precedents for how future political campaigns engage with emerging technologies, reflecting a broader societal shift towards digital economies.

NFT markets deflated – Where did all the users go?

As we delve deeper into 2024, the Non-Fungible Token (NFT) market, once hailed as the next big wave in digital assets, finds itself at a crossroads. Despite the initial fervor and the promise of revolutionizing digital ownership, many NFT projects and games are now grappling with a stark reality: a significant lack of users and diminishing income streams.

The Decline in NFT Engagement:

Recent insights from the broader tech and crypto communities, reflected through discussions on platforms like X, paint a picture of widespread disillusionment. The excitement around NFTs, particularly in gaming and art, which peaked in 2021-2022, has notably waned. What happened?

Market Saturation, Wash Trading and Overhyped Projects:

The market has been flooded with projects, many of which promised innovation but delivered little beyond initial hype. This has led to a dilution of interest and trust among potential users and investors. Wash traders artificially inflated prices by cornering small markets, buying and selling their items from multiple wallets.

Lack of Sustainable Models:

Many NFT projects, especially in gaming, relied on initial mint sales and royalties from secondary market transactions. However, without continuous engagement or real utility, these models have proven unsustainable. Projects with potential, now face dwindling relevance due to unclear long-term goals and poor community engagement.

User Fatigue:

There’s a growing sentiment of fatigue among users. The novelty of owning digital art or in-game assets has worn off for many, especially when some of these assets don’t translate into real-world value or engagement beyond the initial purchase.

Regulatory and Market Challenges:

The crypto market’s volatility, coupled with increasing regulatory scrutiny, has made the NFT space riskier for both creators and investors. This environment discourages new entrants and reduces the willingness of existing users to engage further.

Looking Forward:

All is not lost. The NFT market’s evolution might just be in its adolescent phase, facing the typical growing pains from a boom and bust cycle.

Innovation in Utility:

Projects that pivot towards providing real utility, whether through enhanced gaming experiences, exclusive access, or tangible benefits, might see a resurgence. The integration of NFTs into broader ecosystems where they serve a purpose beyond mere ownership could reignite interest.

Community and Engagement:

Success in the NFT industry increasingly depends on community building and continuous engagement. Projects that foster genuine communities, offer ongoing value, real world products, and those that can adapt to feedback are more likely to thrive.

Regulatory Clarity:

As regulations become more clear the market could stabilize, reducing the risk perception and encouraging users to return to support their favorite games and projects.

Cross-Industry Collaborations:

Collaborations with traditional industries like collectibles, sports, entertainment, art, music, and fashion could bridge the gap between digital and physical, potentially broadening the appeal of NFTs.

We aren’t going anywhere

The current landscape for NFT projects and games might seem bleak, but it’s also a period of necessary correction. The market is learning, adapting, and hopefully, maturing. For those still passionate about NFTs, this might be the time to innovate, not just in technology but enhancing business models, fun community engagement, and real-world applications.

Stay tuned as we continue to monitor projects and games in the crypto, NFT and blockchain multi-verse. We will be bringing you insights on the NFT world and how it might reinvent itself in the face of these challenges.

– Get your NEAR wallets ready as we plan something special with the super addictive blockchain game PUMPOPLY.COM !!!

Staxx Racing Looking ahead…

September Action at TRC Night Meet – Orlando Speed World! September 28th!

Put this one on the calendar and join us for what will be another mind blowing event September 28th! More information to follow as we approach cooler weather in Florida and #staxxracing gets back to the track!

Link for tickets: https://tickets.thefoat.com/TRC/The+TRC+Night+Meet+at+OSW/tickets/id-8vnMX9JqqFCB/

STAXX Club NFT Holder Perks: August 2024

All holders of the STAXX.CLUB NFT are receiving perks as decided on by the community.
(as of January 31 2022 )

For more info go here : https://goldmannstaxx.com/staxx-club-hologram-nft-blend/

ITS A CELEBRATION!

To celebrate making history at the 2024 Bitcoin Conference we are doing something special for our followers! Make sure to follow us and read the info on our Twitter X account, for your chance to with $50 worth of Bitcoin – $BTC, $WAX or $WUF courtesy of Goldmannstaxx and the STAXX CLUB!!!

LINK: https://x.com/GoldmannStaxx/status/1828864138753519970

AUGUST AIRDROP: DUSTRAVAGANZA

We set up an airdrop of $DUST tokens we have accumulated in our telegram chat room to share with our CLUB NFT holders!

60,000 $DUST will be distributed evenly amongst all eligible STAXX CLUB NFT holders who sign up.

For more information on how to get the link visit our Discord VIP room or ask in our Telegram.

MAGIC DUST ON WAX TWITTER X LINK AND INFO

WUF TRACKING

The Staxx Club – WUF Airdrop was completed 5-6-24.

• All eligible members received 10 million $WUF valued ~ $5 USD at the time of airdrop.
• $WUF project info: https://www.wuffi.io
• We were happy to learn about its integration with Coinbase L2 BASE, opening up new possibilities for DEX (decentralized) coin swaps in the US.

– WUF has been in a downward trend in the month of August, bottoming out at 8600 and the 10000 price support is being tested.

– We will continue to monitor price action as well as information from the WUF communities.

– Tracking the price of 10 million WUF is just for fun and not an indicator of past or future performance, we watched the price increase to over 100%.

– As of 8/31/24, 10 million WUF ~ $8 still up 60%, not bad!

Join the Conversation!

Stay connected with us on all our social media platforms to keep up with the latest news, events, and special offers. We’re building a vibrant community, and we want you to be a part of it.

If you’re not already a member of the Goldmannstaxx STAXX CLUB, now is the perfect time to join. Our community is made up of passionate individuals who share a common interest in Bitcoin, cryptocurrencies, and the future of finance. As a member, you’ll gain access to exclusive events, educational resources, and a supportive network of like-minded individuals.

Visit our Link Tree: https://linktr.ee/goldmannstaxx

We look forward to bringing you more exciting updates next month!

Stay Staxxy!

The Goldmann Staxx Team

PLANS

– Website 3.0 and product development
– #STAXXRACING Events and content
– STAXX.CLUB Tutorials, events and information
– Tons more content from the markets, metaverse, and beyond!

– We keep it real

– We provide real analysis based on facts and information available. Adding value to our clients, supporters and club members at the same time, its a beautiful thing.

– Supporting our organization does not require any money at all, just hit some buttons!

– Every button press helps!

– We have exposed countless people to bitcoin and crypto in a non threatening way.

– We have given out thousands of NFTs, cryptos and schwag to people all over the world!!!

CANT STOP – WONT STOP

Join us on Telegram, Facebook, Twitter X, Youtube, TikTok, Discord, Instagram, and/ or Twitch!!!

Please hit the buttons on the socials!

Want to support the club and get in on the NFT perks!?

Staxx Club NFTs are available for purchase on WAX blockchain secondary markets.
NFTs for sale are STAXX CLUB MEMBER owned.

Buy a STAXX.CLUB NFT HERE:
CLUB NFT MARKET LINK

OR

Collect 10 HOLOSTAXX promotion NFTS to blend for your STAXX.CLUB official hologram NFT and rewards!

NEFTY BLOCKS NFT STORE LINK