US Freeway Friday Update — 9 September 2022

Sadie Hutton

Published in

Freeway

10 min readSep 9, 2022

See what is happening in the non-US Freeway ecosystem with the video update below from the global platform.

Click to hear from Sadie and get all the latest from Freeway world.

Freeway global is celebrating its 100th Weekly Update, with news of a new crypto project buying Superchargers and the chance to win $100 in USD Superchargers.

Hey #FreewayFam,

Freeway global’s 100th Weekly Update!

Today feels special for everyone at Freeway, and our totally awesome FreewayFam community, as we share our 100th weekly update! (#38 for Freeway US.)

It’s a cliché to say that we couldn’t do it without you, but it’s absolutely true.

Freeway wouldn’t succeed without an active, vibrant and engaged community, which is why I love keeping you updated every week and sharing all our progress as Freeway continues to grow.

So this week, as well as looking back at the best of 100 weekly updates in our video, we’re also looking forward to the next 100, together with the ‘Fam.

We want to know what ideas you might have that could help to make Freeway’s weekly community updates even better.

And to show our appreciation, you could win $100 in USD Superchargers just for sharing your ideas with us.

See what other treats we have in store this week in our 100th episode…

PS: Since writing our 100th update, I heard the news of Her Majesty, Queen Elizabeth II passing. Her life, lessons and leadership have been hugely inspiring for me personally, and I’d like to end with one of my favourite quotes from the Queen, ‘It’s worth remembering that it is often the small steps, not the giant leaps, that bring about the most lasting change’. It’s something I remind myself about every day and try to bring to Freeway. RIP Elizabeth II.

You could win $100 in Superchargers

We’re always up for new ideas at Freeway, and often we find some of the best ones come from our community.

So here’s the deal, if you have an idea for a feature or content that you’d love to see included in future weekly updates from Freeway, drop a comment on our 100th competition post with hashtag #Freeway100.

We’ll add you into our prize draw, where 10 winners picked at random will each receive $100 in USD Superchargers. All entrants must have an existing Freeway account, of course.

The question is, what do you want to see more of in the weekly update? All suggestions are welcome and will earn you a place in our draw.

Here’s a couple of starter suggestions, to get your creative juices flowing. It could be a regular interview slot with me (Sadie) and a special guest. Or it could be a different feature each week about a new idea in crypto.

Now, over to the ‘Fam for more ideas, and good luck!

Freeway Welcomes MDB (Make DeFi Better)

A new crypto project joined us this week, and I’m delighted to welcome MDB to Freeway.

MDB (Make DeFi Better) is an innovative DeFi ecosystem of four tokens, staking, farming and NFTs on the BSC network, designed to build long-term, perpetual growth for holders.

Long-term growth is what we specialise in at Freeway, so we’re perfectly aligned with our new friends at MDB.

Freeway’s Latest Growth Stats

MDB weren’t the only ones buying Freeway Superchargers this week, so let’s look at Freeway’s latest corporate growth figures for the US…

US Freeway users = 6,079
US total Supercharger simulations = $34,966,490
US closed-loop FWT staked = 690,424,361

Tech updates: Faster KYC & onboarding

And there’s more good news from our tech team this week as Freeway completed a major new upgrade.

We’ve streamlined the onboarding process for individuals and business accounts by integrating with a global leader in KYC automation and user verification technology.

Here’s a few screenies of our slick new KYC process below.

Guerrilla of the Week: The Crypto Cab

Telegram: @thecryptocab Twitter: @TheCryptoCab

The Crypto Cab has been amongst the FreewayFam for a long time now. Quiet within the Telegram rooms, but ever present across the socials.

We see you Tweeting, we see your TikToks, and we wanted to show our appreciation for your passion towards Freeway.

Thank you for putting in the time and effort that you have. And thank you for being such an enthusiastic member of the FreewayFam!

Congratulations on this week’s GOTW!

Agent Alpha on: It’s $ Top Out Time

Agent Alpha’s statements are solely his own opinions and market commentary, are for entertainment, and are neither endorsed by, nor represent the views of Freeway. You should always do your own research and seek independent expert financial advice.

RIP Her Majesty Queen Elizabeth II. A titan of history, the definition of that most wonderful of generations & the definition of the word ‘Queen’. God rest ‘maam’

Back to business and ‘that’s it folks’. It’s $ top out time with peak global hawkishness from the world’s central banks. The latest data from China confirms my call here, as the latest PPI and CPI prints for August puke lower (PPI) and remain benign (CPI).

What the chart below shows is the relation between Chinese PPI and US CPI, the former being a leading indicator. Should this hold true, what we’ll soon witness is a rapid cooling in US CPI, way ahead of current expectations from the FED and markets.

The next chart shows that ‘King Dollar’ has peaked and that inflection point I have been highlighting, has topped out.

CNBC: Cathie Wood’s calls for a significant Fed policy pivot in 3 to 6 months, suggest deflation looms — she is right.

Interesting commentary from ECB’s President Lagarde yesterday (who hiked Euro Area base rate by 75bps ), who said the ‘ECB hiking cycle will finish somewhere between 2 to 5 more meetings ahead’. If we take that at face value, it implies that, at most, the cycle finishes in Q1 2023. Of course it will be far earlier than that, because I am expecting CUTS from the ECB in early ’23 as deflationary pulses really start to get a grip, confounding so many.

Then if we look to FED Chair Powell in his CATO Institute Q&A yesterday, who was certainly at pains to follow up from his 8-minute, uber-hawkish Jackson Hole speech, by sticking to the script that the FED would see the job through by getting inflation firmly back to 2%.

What I noticed (as usual from Powell when he talks too much!), was that the longer he spoke, the more the caveats seeped in, not least the full admission that economies are evolving all the time, and that the FED is constantly monitoring them and trying to keep up. Now, while not for a minute do I try to claim this as dovish speak, it provides more confidence that the FED can, and will, U-TURN FAST as the forthcoming data in the months ahead (CPI & GDP) pukes.

See the latest Atlanta GDP tracking data, for example, revised lower to 1.3% recently vs 2.4%….heading rapidly into the negative realm for Q3 (following negative Q1 and Q2 prints), which the White House insists is most definitely NOT recessionary! This is going to be a really interesting one, right into those US midterms!!!

Look at how high the short positioning out there is?

Which leads me to liquidity — and the global M supply metric is ticking back HIGHER towards $98 Trillion.

You see, GLOBAL liquidity moves are countering the FED (Japanese QE infinity, Chinese turning on the taps etc), who will pull back from their QT program in ’23. The point being that the CHINESE with such DEFLATIONARY data have ample room to go a lot further on monetary policy, and when you look at risk markets vs global liquidity now, we have the widest gap vs liquidity for years. It is going to close……..with risk kicking back HIGHER (as I see it).

And I do like this, because if this gap between global risk aka the S&P vs liquidity is going to close, that chart above implies the S&P will kick higher towards c. 4400, which seems quite reasonable. So how about we look at what the S&P chart itself says away from the liquidity comparable? This brings me nicely to that inverted H&S pattern regular alpha readers will be familiar with, because at what area is the all-important technical neckline?

You guessed it folks…….c. 4400.

The evidence is stacking up.

Inflection points are starting to play out. Not least in the DXY, which is a function of peak hawk from the global central banks, even if most of the major central bankers do not even realise it themselves yet — but hey what’s new on them being so far behind the curve!

The CHINESE deflationary backdrop is a critical factor (obviously), and the latest datasets (PPI/CPI) provide the Chinese with ample room to put the hammer down on stimulus, both fiscal and monetary.

Investors should appreciate the leading indicator nature of Chinese PPI to US CPI, and in my view, the latter will start to demonstrate it is coming off at pace in the months ahead, at a trajectory that could completely wrong-foot bearish positioning.

Bearish positioning is at extremes and the setup (should this logic outlined prove sound), is potentially explosive.

On crypto, to conclude, I thought it was a significant positive yesterday when SEC Chair Gensler conceded that the commodities regulator (CFTC) should be given oversight for crypto.

As Bitcoin ‘pops’ > $20k today, keep your eye firmly fixed on that 50-day MAV of $21500 area. A close above, with a $25k n/t target back play, would provide us with evidence of how the underlying risk environment land lies.

Until next time,

Alpha

Wednesday’s AMA on Telegram

Once a week on a Tuesday at 6pm UTC, Freeway holds an internal AMA in the Freeway Telegram channel that gives the community a chance to ask direct questions with core team members.

You can find the transcript from last Wednesday’s AMA session here.

Click below to join the official Freeway Telegram group.

If you’d like to participate in the next AMA on Tuesday at 6pm UTC, where you can ask Graham anything, join the Freeway Official Telegram group here.

As always, we love hearing from you, so please join us on Telegram, follow us on socials, and if you want to hear from us and you want to hear it first, sign up for the newsletter.

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Until next week,

Sadie Hutton

Co-Founder and CEO

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