In This Issue

• I share my thoughts on the state of the market, everything is a security, Bitcoin NFTs taking off, Altcoin alpha, big partnerships & the Layer Zero airdrop.
• REKT has a TA report on 8 different altcoins.
• Rebecca breaks down the latest news.

Monthly Crypto Alpha Report

Hello, friends!

Quick reminder that the Monthly Crypto Alpha Report has been released!

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• 📉 An overlook of the crypto markets
• 🎈 The top airdrops of the month
• 👀 The top altcoins to watch
• 🧑‍🌾 The best DeFi farms
• 🙊 The most exciting NFT mints

My team and I analyze the crypto markets for countless hours and we put all of our findings from the previous month into THIS report.

Value-packed & exclusive for the Premium Subscribers of the Wealth Mastery Newsletter! 

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What’s On My Mind by Lark

The State of the Market

Higher lows, for now anyway, we are still putting in higher lows for Bitcoin. Macro has still not melted down, although the S&P 500 is hanging right at support now on the 50 day, the 200 day, and the main trend line in orange. 

If the equity markets tumble further then it could be bad news for crypto. I would not like to see us lose those key lines of support. 

Can we still see a retest of 20K? Yes. In fact, I have bids in just in case it does. It would be the exact kind of market BS that would shake and wreck those longing the market and would convince everyone that we are going down to 10k again before ripping higher. 

Keep in mind that loads of mega-companies are entering crypto, China is warming up to crypto, Ethereum Shanghai goes live next month as does zkEVM for Matic, and many other big things. And of course, global liquidity is rising and the FED is likely to stop rate hikes in the next 3 months. There are lots of narratives that the market can hop onto.

My personal opinion is that we could still see a rally to as high as 48k for BTC in 2023 as long as the overall macro scene doesn’t totally go to shit. That move though will not be in a straight line if it happens, because it never is. 

Everything IS A Security…. 

SEC chief Gary Gensler really doesn’t like crypto. He is now trying to argue that literally, everything besides Bitcoin is a security. And thus that every coin listed on US exchanges except for Bitcoin is violating the law, and the exchanges are aiding in this crime. 

Gary has even gone so far as to argue that stablecoins like BUSD are securities, which is absurd. Plus, his Bitcoin-only comment fails to account for other proof-of-work coins like Monero and Litecoin that were fair mined and had no tokens sold to investors. 

Gary is also trying to argue that staking is a security because you receive a reward for doing the work of securing the network. 

This is insanity. The SEC under the leadership of Gensler is trying to draw the USA into the crypto stone age. The USA is missing a massive opportunity, and other countries like the UAE and Hong Kong are stepping in to grab the opportunity. 

That all being said, the industry does need to be regulated and transparent parameters do need to be put in place. But the current SEC seems to have no interest in doing that. 

Bitcoin NFTs Taking Off

Ordinals are getting a new NFT collection, this time from Yuga Labs, the creators of Bored Apes. The collection will be called Twelvefold and is a collection of 300 pieces of generative art. Bitcoin NFTs are taking off in a big way, and as this story shows everyone wants a piece of the pie! 

Altcoin Alpha 

• Yearn Finance will soon be launching yETH and veYFI. yETH will be a basket of liquid staked ETH with attractive high yields due to Yearn’s huge Curve voting power. veYFI will bring in profit sharing on platform fees. Yearn also controls 55 million veCRV. Certainly some interesting upcoming catalysts for this DeFi OG. 
• Synthetix just launched their V3 on Ethereum. The upgrade will make Synthetix faster, more efficient, allow for more exotic synthetic assets, and offer simpler staking. This is all big, although it remains to be seen if it will be enough to move the needle for SNX price-wise. 
• Frax Finance DAO has voted to fully collateralize the FRAX stablecoin and remove the algorithmic elements it had been carrying. This means the 1 billion dollar market stablecoin will now be fully backed by collateral like Ethereum. Making it a much stronger competitor to Maker Dao’s DAI, and removing worries about a potential UST-like collapse scenario. 
• Optimism has announced its plan for the Superchain, basically a unified ecosystem of layer two networks but all under a single umbrella network. Coinbase’s BASE layer two network is the first such network. This could be a huge catalyst for Optimism moving forward and shows that the layer two wars are far from over. 
• Litecoin is getting NFTs, following (as usual) in Bitcoin’s footsteps. The recent popularity of Bitcoin Ordinals was seized upon by Litecoin. So yeah, Litecoin NFTs… 
• Avalanche and Cosmos are teaming up. CosmosAVAX is set to launch the first Cosmos-enabled subnet on Avalanche. Cool news for both chains. This means that there will now be native IBC integrations for Avalanche via subnets. 
• Mantle is a layer two protocol for Ethereum, I know, I know… another one… Anyway, this is being launched by Bybit’s Bitdao and will be backed by a 200 million dollar ecosystem fund. No token yet for Mantle, but something to watch out for, and it could have a good catalyst for the BIT token too. 
• Axelar has just announced their Axelar Virtual Machine which intends to allow for massive interoperability. Basically, devs can build a dapp once, and then it can be deployed across all major chains but function as if it were running on one chain. 
• Spool has announced they are integrating with Abritrum and have launched 6 new yield strategies. That could bode well for Spool stakers who receive platform fees. 

Big Partnerships 

At this point hardly a week goes by without a top global company teaming up with some blockchain company. This week it was Meta (Facebook) and Telefonica (One of the biggest telecoms on earth) teaming up with a coin I had never heard of before this announcement Gamium (GMM) which pumped about 600% on the announcement. There are two things that interest me about this partnership. 

1. This is about the 10th major company to announce something like this in the last 2 months. BIG things are happening in crypto right now. It is actually kind of crazy. Could the next bull run be driven by mainstream adoption spurred by big companies? 
2. Could this start a new wave of metaverse hype as Gamium is a metaverse coin and we all also know that Meta is big into metaverse? So big in fact they renamed the company to Meta! 

Layer Zero Airdrop 

Another week, another potential airdrop tutorial! This one is for the omni chain network called Layer Zero. Backed by Coinbase, Binance, and others. 

While it is unclear exactly what if anything will qualify you for a potential future airdrop, here are some things that could give you the best chance. 

Here are the ways you could qualify for a potential Layer Zero Airdrop:

1. Use the Stargate Bridge. Buy a few bucks of STG, stake it, and vote on governance proposals. 
2. Use Pontem Network to do a swap, and enter a pool. You will need to use the Aptos Bridge to get money over there. 
3. Use Euro stablecoin provider Angle. Buy some agEUR on Angle, and then bridge it to another chain and back using the bridge. 
4. I’m not a big Harmony fan, but they are also using a Layer Zero enabled bridge. 
5. Buy some BTC.B on an Avalanche based exchange like Trader Joe. Then bridge it to another network here.  
6. Layer Zero has partnered with a few different protocols including Rage Trade, Hashflow, and Trader Joe. Users of these platforms may be included in a future drop… maybe… 

Disclaimer: Bridges are risky. You could lose all funds bridged. Defi is risky, you could lose all money used on any platform. You might do all of this and get nothing. Even if you do get something it might be worth nothing.

Market Analysis by Rekt Capital

In today’s newsletter, I will cover 8 Altcoins, specifically:

• Aave (AAVE)
• UniSwap (UNI)
• Dusk Network (DUSK)
• Zilliqa (ZIL)
• Coti (COTI)
• Render Token (RNDR)
• Fantom (FTM)
• Cardano (ADA)

Let’s dive in.

Aave — AAVE/USDT

AAVE performed a bullish Monthly Close this past February after successfully retesting the Macro Downtrend (green) as support.

Technically, AAVE is well-positioned for upside beyond this point, having confirmed its breakout.

However, the Macro Downtrend breakout has led price straight into a cluster of resistance that is represented by the red box.

AAVE needs to turn the top of this red box into support to begin to gather up steam in its new uptrend.

This is likely the very nascent stage of its new uptrend and having just confirmed it, AAVE simply needs buy-side volume to start slowly coming in to facilitate trend continuation.

UniSwap — UNI/USDT

UNI is mentioned straight after AAVE without coincidence.

Both occupy an important role in DeFi and both have broken and successfully retested their Macro Downtrends as supports.

Both have confirmed their Macro Downtrend breakouts which should precede new macro uptrends for both.

However, as is the case for both, both have broken out straight into major resistance areas.

For UNI in this case, price needs to reclaims the ~$7 level (blue) as support to further position itself for post-breakout trend continuation.

Dusk Network — DUSK/USDT

Since the last update on DUSK, DUSK has indeed dipped via the green path, but not as drastically as it did in early 2021 (i.e. downside wicking below the black horizontal support).

Technically, this could still happen but for the time being DUSK is simply sideway consolidation inside the black-dashed red range.

DUSK appears to be treating this range as one of re-accumulation so to confirm trend continuation, DUSK would need to reclaim the red dashed level as support to enable a move via the orange path to the upside.

However Weekly Closing below the black support would be an invalidation as that would bring DUSK closer to a breakdown which could preceded deeper downside.

For now, consolidation at highs, with no trigger in sight relative to the key levels described.

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In Case You Missed It by Rebecca

Crypto market news

Cash App has integrated crypto tax and accounting software TaxBit into its services to give Bitcoiners a more efficient way of reporting taxes. Source

Coinbase has launched the testnet for its L2 network called Base, that’s built on Ethereum and powered by Optimism. Source

Voyager has started to sell crypto assets on Coinbase and is also facing a stalled acquisition by Binance US. Source

Mastercard is to allow crypto payments via USDC settlements through a partnership with Web3 payment protocol Immersive. Source

Artifact Labs will create NFTs for 5,500 recovered artifacts from the Titanic in a partnership with RMS Titanic (RMST) and Hong Kong-based Venture Smart Financial Holdings. Source

Paypal and Galaxy have co-led a $20M seed funding round for on-chain risk optimizer, Chaos Labs. Source

Reddit co-founder Alexis Ohanian bought 50,000 ETH during its presale in 2014 for $0.30 each. Source

Coinbase beat Q4 earnings estimates but continued to see its transaction volume decline. Source

Spotify has announced a partnership with Overlord, a Web3 gaming system, to start testing token-enabled playlists and Web3 wallet integration. Source

The US SEC has filed an objection to the Binance US $1B bid for Voyager assets. Source

DZ Bank, the second largest bank in Germany by asset size, will fully integrate crypto into its asset management services. Source

BlackRock has launched a Metaverse-themed ETF primarily focused on tech companies including Meta, Apple, and Nvidia. Source

JP Morgan has opened a crypto Lab in Athens to provide research and development services on blockchain, AI, and cryptography to global payments companies. Source

Dapper Labs CEO has confirmed another round of layoffs as the company plans to cut 22% of its staff. Source

US Citizens Trust Bank has partnered with Circle to hold $65M of its reserves in USDC. Source

Block announced a 40% increase in its 2022 profits beating out expectations, despite its declining Bitcoin revenue—its stock price jumped 7% on the results. Source

Robinhood has been subpoenaed by the US SEC over its crypto listings, crypto custody, and platform operations. Source

Mitsubishi, Fujitsu, and other tech companies have teamed up to create the Japanese “Metaverse Economic Zone.” Source

Coins and Projects

Yuga Labs, the parent company behind Bored Ape Yacht Club, is planning to release an NFT collection minted on the Bitcoin-based Ordinals protocol. Source

The Human Rights Foundation (HRF) has granted 2B sats or around $475K from the Bitcoin Development Fund to 10 global projects. Source

Bitcoin core developer Marco Falke has announced he will step down from his role of Core maintainer. Source

Ethereum has successfully completed its Shapella upgrade on the Sepolia testnet. Source

Ethereum core developers are planning a new testnet called Holli with the aim to improve testing environments and supply challenges. Source

Arbitrum-based asset management protocol FactorDAO has launched its staking service. Source

USDC issuer Circle is to increase its headcount by up to 25% despite the current layoff season. Source

Arbitrum has surpassed Ethereum in daily transactions, jumping from 159,919 on 1 Jan to 1.1M in February. Source

DeFi Liquidity protocol Synthetix has deployed v3 on the Ethereum mainnet. Source

Binance has partnered with Ingenico to pilot in-store crypto payments in France. Source

BUSD stablecoin temporarily lost its peg and plunged to $0.20 on Binance. Source

Coinbase will stop trading on BUSD tickers from March 13 due to “listing standards.” Source

BNB Chain’s second largest DeFi protocol Venus is going to accept Floki tokens as lending collateral. Source

Binance Australia Derivatives has reportedly closed accounts and positions for some users after abrupt notifications were sent out. Source

Google Cloud is to become a validator on the Tezos network. Source

Solana will close its Solana-themed storefronts in New York City and Miami by the end of the month and will rebrand as DRiP, an NFT distribution platform. Source

The Solana network is back up and running again on the second attempt, after suffering a network incident from its latest hark fork. Source

Polygonscan went down amid online rumors that the Polygon network had suffered an outage. Source

Aptos and Outlier Ventures have teamed up for a California-based accelerator program. Source

Algorand wallet MyAlgo has advised users to withdraw funds after a $9.6M exploit affecting 25 wallets. Source

Fetch.ai has partnered with German industrial giant, Bosch, to create the Fetch.ai Foundation and a $100M grants program for Web3, AI, and the IoT. Source

Tencent has announced Web3 strategic partnerships with Ankr, Avalanche, Scroll, and Sui. Source

Oasis Network has worked with a whitehat hacking group to recover $140M in stolen funds from Wormhole in its most recent $325M exploit on 2 February. Source

Gamium, a metaverse project, saw its GMM token rise 340% after a partnership was announced with Meta and Telefonica. Source

Kill-to-earn zombie game called Undead Blocks has launched on ImmutableX, created by an ex-Goldman Sachs analyst. Source

Macro news

The Fed released the minutes from its January meeting which indicates interest rates may stay higher for longer. Source

The Bank for International Settlements (BIS) general manager Agustín Carstens has declared fiat has won the battle with crypto. Source

Hong Kong is backing Web3 by allocating $6.4M of its annual budget to developing an ecosystem. Source

The Iraq central bank announced this week it will allow trade from China to be settled directly in yuan. Source

Australia’s Finance regulator has opened a review into Binance’s derivatives business after users’ positions and accounts were suddenly closed. Source

The G20 has announced the IMF and the Bank for International Settlements (BIS) will deliver recommendations for a global crypto regulatory framework, for publication In July. Source

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Final Notes

The SEC dropped a crypto bombshell!!! If you’re holding Bitcoin then this is a must watch. 👇

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.

If you really want to take advantage of fastest growing asset class EVER, I highly recommend you join us in the Premium Investor Report.

You’ll immediately get access to:

• Deep dive Altcoin report & The Trending Coin Report
• Technical Analysis on the crypto large caps and overall market
• Token sales, Airdrops and DeFi Tutorials
• Updates on the NFT Ecosystem and new mints
• My Investment Portfolio Updates

See you next time!

Lark and the Wealth Mastery Team

Legal Disclaimer

Wealth Mastery (Lark Davis, and the Wealth Mastery writing team) are not providing you individually tailored investment advice. Nor is Wealth Mastery registered to provide investment advice, is not a financial adviser, and is not a broker-dealer. The material provided is for educational purposes only. Wealth Mastery 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.

You can find a full disclosure of all my crypto & venture investments here.