A Crazy Year and HUGE Defi Yields

The Big Recap by Lark

Another week of volatility for crypto after Bitcoin faces a harsh rejection at $52,000. And as always altcoins tend to tank right along with old man BTC. Although many segments and narratives are keeping strong such as defi and gaming, it does serve as a reminder of how extreme and persistent the volatility can be in this market. I am reminded of the saying “the market can remain irrational longer than you can remain solvent”. Which is of course why we should strive to build resilient portfolios which are not over exposed to risk and to consistently take profits one speculative coins. 

That being said it has still been a pretty exciting week with Polygon rallying to a new all time high as it votes to integrate Uniswap and LUNA also hitting a new all time high as we continue to see high demand for the UST stablecoin. 

Big Ethereum news this week as Huobi, the 4th biggest exchange globally, has announced that it will support withdrawals and deposits to Ethereum layer two via Arbitrum. Exchanges are the key points of fiat entering and exiting the market and thus it is essential that we see them supporting Ethereum layer 2. High gas fees are the biggest barrier to Ethereum adoption by a wider audience at this point, and layer twos offer dramatically lower fees. So this is good news! 

Over in the USA, Senator Cynthia Lumis has proposed creating a new crypto regulatory body. Source. Will the proposal succeed? Who knows. BUT considering the fragmented approach that US regulators have had to crypto thus far, a dedicated regulatory body “could” actually be a good move. 

In other regulatory news it appears that Turkey is about to reveal a new bill to regulate the industry inside the country. This is big news because Turks are some of the biggest adopters and users of crypto. A positive law could be very beneficial to the industry more broadly, while a highly restrictive bill could be detrimental. I will be keen to see the actual proposal when it is sent to parliament. 

As a final note before we dive into the rest of the newsletter, can I just say what an incredible year this has been for the cryptocurrency markets. It is easy to get lost in the day to day noise, but let’s just take a moment to realize how INSANE 2021 has been. 

  • Tesla bought Bitcoin
  • El Salvador legalized BTC
  • NFTs boomed like mad
  • Dog coins brought in millions of new users
  • Gaming finally has brought in some very high quality and profitable games
  • Defi has continued to grow with protocols like Olympus shaking things up
  • A select group of non-Ethereum chains have seen their number of users soar along with total value locked

And 100 other stories and major events which have happened. When you look at the whole picture it makes you realize how exciting this industry is, as well as appreciating the wild rate of growth. 

Thank you for being here on this journey with me, and I truly hope that 2021 has been a profitable year for you.

Defi updates 

  • Solana’s Raydium has a nice high yield farm for Monkey Ball’s token. HERE
  • Orca has some nice farms like over 400% for Sol Chicks. HERE
  • Sushi Swap has some HUGE yields right now on Ethereum including over 1,000% for the new Open Dao SOS token farm. HERE
  • Rain Maker is live with high APY staking and liquidity farming. HERE
  • High Street has opened Uniswap Liquidity Provider staking with some seriously SICK rates. HERE
  • Paraswap is launching on Polygon with a good incentive program for early liquidity providers. HERE
  • Injective Protocol has gone from 0 to a top 15 decentralized exchange in just a month. Source 
  • DEXes have passed a trillion in trading volume this year. WOW! Source
  • Acala and Moonbeam have announced that the first rewards will be given out to those who backed them in the auctions in January.

Top Trending Coins This Week by Rebecca

Here are my key takeaways from the trends this week, and the festivities have not slowed down the crypto developments nor the crypto community!

1 – Trader JOE is the number one decentralized exchange (DEX) on Avalanche. It is top of the trending coins this week due to the announcement of its listing on Binance, with investors expecting this to push price up.

2 – Ovr have launched a virtual reality (VR) integration with The Three Kingdoms (TTK) game-fi platform, which will create a scavenger hunt for NFT characters using a Pokémon-Go style interface on the TTK platform.

3 – OpenDAO is an NFT ecosystem that surprised everyone with a Christmas Eve airdrop and the native SOS token has since surged more than 1000% in price. They have since announced partnerships with Treasureland and the X Marketplace.

4 – Uno Re is a risk trading insurance and reinsurance platform. They have announced the launch of their first single-side reinsurance pool that enables UNO holders to stake their tokens in return for rewards of up to 100% APR.

5 – Wonderland has had its first governance vote this week, and its motion passed almost unopposed. However, not all good news – price has taken a dump this week, which led to questions from the community on Twitter.

6 – Polygon has been going from strength to strength in recent weeks, and the team have shared plans to support both ERC721 and ERC1155 tokens early next year, rolled out to 8 EVM blockchains. This week holders have also been rewarded with new all-time high prices.

7 – Binance has received approvals this week from both Canada and the Central Bank of Bahrain, to become fully regulated centralized cryptocurrency exchanges.

8 – Fantom have integrated with multi-chain DEX aggregator, Rango Exchange, via SpookySwap – enabling users to swap FTM token across multiple chains, and USDC has been made available on FTM via Allbridge. SpookySwap has also reached $1 billion TVL.

9 – Bitcoin is prompting discussion on social media again this week as it’s been rejected from the $52K mark, meaning we’re still waiting for a confirmed breakout – are we going to see more sideways chop at the $47K mark, down to $42K or retest $52K.

10 – Shiba Inu have announced the release of a new official communications portal to keep the ShibArmy up to date with the project and ecosystem. This will be accessible via ShibaSwap.

11 – Avalanche will be launching the ParaSwap (PSP) token onto the blockchain. No date has been confirmed, but this has got both communities talking on socials.

12 – Axie Infinity have announced this week that users in the US can now use their debit cards to purchase ETH, SLP and Axies via the Ramp Network.

13 – Ethereum whales are loading up on several Ethereum-based gaming altcoins, including one wallet purchasing $45.7 million Chiliz tokens. 

14 – Terra (LUNA) has hit an all-time this week and their UST stablecoin has reached $10 billion in market cap following its recent listing on the Binance exchange. Terra have also announced the public beta launch of Leap Wallet on the Terra blockchain.

15 – Gala games has teamed up with Will Wright, the creator of the legendary game, The Sims to create the VOXverse within the game.  

 

Final Notes

Thank you so much for your support, and I truly hope that today’s issue will give you insights needed to help you master your wealth.

If you are reading this it means you are on the free version of the Wealth Mastery Investor Report, which is great for news and tips on the crypto markets.

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See you next time!

Lark and the Wealth Mastery Team

 

Legal Disclaimer

TCL Publishing ltd (director Lark Davis, owner of Wealth Mastery) is not providing you individually tailored investment advice. Nor is TCL Publishing registered to provide investment advice, is not a financial adviser, and is not a broker-dealer. The material provided is for educational purposes only. TCL Publishing is not responsible for any gains or losses that result from your cryptocurrency investments. Investing in cryptocurrency involves a high degree of risk and should be considered only by persons who can afford to sustain a loss of their entire investment. Investors should consult their financial adviser before investing in cryptocurrency.

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Join the Wealth Mastery Investor Report by Lark Davis

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