In This Issue

• I share my thoughts on the state of the market, Ethereum Shadow Fork, class of 2022 ATHs, Solana the comeback kid, Injective injects money, & Vela airdrop.
• Rebecca breaks down the latest news.
• REKT has a TA report covering Altcoin Dominance.

Crypto Alpha Report Release

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Friends,

Before letting you off to read this jam-packed letter, I just wanted to remind you that on the 30th of January is the release of the Monthly Crypto Alpha Report.

This is a resource released once a month where my team and I give you an overview of the crypto market and put the best airdrops, altcoins, NFTs & DeFi farms on your radar!

This report will give you everything you need to stay on top of the opportunities that constantly occur in the markets!

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What’s On My Mind by Lark

The State of the Market

I love it when the markets are exciting. Things have been so good in January that we can almost forget that some of our bags are still 70-90% down.

Sentiment wise this is the most excitement the market has seen in what feels like a very very long time. If this is a 2019 style bear market rally then we could see some real price movement. Like I have said my prediction is BTC up to 48k in 2023. That is just a guess, and IF it does play out it will not happen in a straight line. 

Up to this point the market has been showing strength in January. Let us hope that can continue for the months ahead. Just be careful chasing hype. 

In other news the FED is meeting on Monday next week. It is widely expected that they will raise interest rates by 0.25%. The market should welcome such a move. If they raise by 0.5% I can’t see the market looking at that very favorably. The FED pivot narrative is the hope that market participants are clinging to now. 

That being said Microsoft came out and issued a warning for investors to expect growth to slow in 2023 even quicker than it did in 2022. So basically no growth for tech this year.

That would fit in line with expectations of a recession in the USA. 

That would fit in line with a bear market rally thesis. 

Ethereum Shadow Fork 

Ethereum is now one step closer to its Shanghai Upgrade which will most importantly unlock staking rewards. That step closer is the so-called shadow fork. Basically, this is a dress rehearsal for the real deal which is still scheduled to happen in March. Big things ahead for Ethereum this year! 

Class of 2022 ATHs

Believe it or not some coins are actually going into price discovery. For example Ethereum layer two optimism just hit a new all-time high this week. Aptos also hit a new all-time high this week. I made a video discussing Aptos and that I would like to buy at lower prices when it was about $3.50. Well… looks like the market had other ideas, lol. Onto the next one. 

But this does underline something very important happening in the market. Money is chasing new narratives. New chains that launched in the bear market are finally catching some bids. Keep an eye out for money to keep moving into these areas. 

But not all coins have benefitted, some promising networks like GLMR and IMX have not seen these kinds of price moves. Perhaps too many got burned by their overhyped listings? I still have strong hopes for my GLMR bag though. 

Solana The Comeback Kid

The below chart shows that Solana NFT volumes exploded in January. And the month as I am sure you know is not yet finished. It is no secret that I had some serious misgivings about Solana in the wake of the FTX collapse, but Solana appears to be the comeback kid on this rally. SOL has performed very well, but also we must credit BONK for a lot here. It brought users back to Solana and to the Solana NFT scene. It was the spark that Solana needed. Question now is can it build on that success? 

Injective Injects Money

Injective has launched a 150 million dollar ecosystem building fund. Which is a big throw down in a bear market. It is backed by a lot of big familiar names like Pantera, Jump, and Kraken. Launching such a fund at this time is a show of strength. While others are going bankrupt or contracting and laying off, Injective is making bold expansion moves. I like it. Oh, and the total market cap of Injective? 170 million. Yes, you read all of this right, they are launching an ecosystem fund almost as big as the coin’s entire market cap. 

Vela Airdrop 

A new perpetual swap exchange called Vela is going to do an airdrop. They are opening a public beta to early testers who will be getting an airdrop. 

You need to register for beta access https://www.vela.exchange/beta 

Once registered and you get access you will of course need to use Vela in order to be eligible for rewards. Testing starts on the 31st. It is not yet apparent how rewards will be distributed. But likely frequent use will give you the best chance for rewards. 

Disclaimer: Risks of testing new platforms are real and should not be ignored. What if anything you get is uncertain and it may end up being worth little to nothing? Perpetual swap products carry higher risk and should only be used by those who understand the risks. 

In Case You Missed It by Rebecca

Crypto market news

El Salvador President, Nayib Bukele has announced the country has paid back an $800M maturing bond with interest. Source

Coinbase has announced it’s terminating its operations in Japan and after February 17, the remaining crypto assets held by customers will be converted into Japanese Yen. Source

21Shares has launched its Crypto Staking Basket Index ETP, making it the first of its kind. Source

Genesis has filed for Chapter 11 bankruptcy as it’s been unable to raise capital amid its liquidity crisis. Source

Peter Thiel’s fund cashed out of crypto in March 2022 with $1.8B in profits after holding it for 8 years, then backed Bitcoin at the Miami Bitcoin Conference a month later. Source

1 in 3 members of US Congress has received money from FTX since 2021. Source

Nexo has agreed to pay $45M in penalties to the US SEC and NASAA and cease its earn product to US investors. Source

Bitcoin miner, Cleanspark, is expanding its operations in the US state of Georgia. Source

JP Morgan CEO, Jamie Dimon, appeared on CNBC and said Bitcoin won’t really be capped at 21M coins. Source

Crypto-friendly bank, Signature Bank, will no longer support transactions to or from exchanges of less than $100k, according to Binance. Source

Coinbase has reportedly expanded its partnership with German soccer team, Borussia Dortmund, making them a Premium Partner of the club until June 2023. Source

Gemini is reportedly cutting another 10% of its workforce after getting caught up in the DCG bankruptcy. Source

Coins and Projects

Bitcoin’s that have been bridged to Avalanche have surpassed the number of bitcoins locked up in the Lightning Network. Source

Ethereum Layer-2 Optimism has overtaken Arbitrum in transaction volume. Source

Ethereum developers have created a test environment shadow fork for Ethereum withdrawals ahead of the Shanghai upgrade. Source

Ethereum founder, Vitalik Buterin, has put forward an approach for stealth addresses. Source

MakerDAO’s community has approved a proposal to deploy up to $100M in USDC from its reserve on Yearn Finance. Source

Ethereum has been announced as the blockchain of choice for the National Australia Bank’s (NAB) stablecoin which is due to be released in mid-2023. Source

Polygon has launched AI-powered NFTs allowing users to create NFT avatars from text prompts. Source

Fractal, a Web3 gaming platform on Solana, has added support for Polygon. Source

Robinhood has rolled out its hot wallet to 1M users on Polygon, to rival MetaMask. Source

Polkadot has released V3 of its cross-chain messaging format called Cross-Consensus Messaging (XCM). Source

Cardano founder, Charles Hoskinson, has confirmed his interest in acquiring crypto media website, CoinDesk. Source

Cardano suffered a brief node outage which temporarily affected block-producing nodes, but the issue was fixed within minutes. Source

Binance’s Charity Scholar Program will provide over 30,000 Web3 scholarships in 2023. Source

Uniswap holders have voted 80% in favor of deploying its V3 protocol on BNB Chain. Source

Fantom has launched a decentralized ecosystem vault to fund new projects and will receive 10% of all transaction fees to grant to projects. Source

1inch has announced it will launch a multi-chain hardware wallet later this year and is in the final stages of development. Source

SushiSwap has passed a governance proposal to redirect 100% of its trading fees to its treasury for operations and maintenance for one year. Source

Donald Trump’s NFTs surged 133% in 24 hours after he teased a return to Facebook and Twitter. Source

Terra lending protocol, Mars, is to launch its own mainnet and will go live with 16 validators. Source

Tron has announced the upcoming launch of liquid staking, outlined in TIP467. Source

Metis has launched the first infrastructure for its Decentralized Autonomous Company (DAC) called Koris. Source

Macro news

The US Department of Justice announced an enforcement action against Russian exchange, Bitzlato. Source

The Central Bank of Spain has authorized the testing of a digital Euro token called EURM. Source

The US digital dollar project has published an expanded version of its whitepaper called “exploring a US CBDC.” Source

Red Date Technology, a blockchain infrastructure company that’s leading China’s efforts, has launched a SWIFT-style system for bank-issued digital currencies. Source

ECB executive board member, Fabio Panetta, has said the Euro CBDC will “never be programmable.” Source

The EU is planning a digital Euro bill and Metaverse policy for May this year. Source

Swiss Bank, Cite Gestion, has become the first private bank to tokenize its own shares. Source

Australian Financial Minister, Stephen Jones, has said crypto assets could be regulated as financial products. Source

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Market Analysis by Rekt Capital

In today’s Altcoin market update, I will cover Altcoin Dominance to give a broader picture on the Altcoin Market and where it is heading in the short-term and also mid-term.

Also, I’ll share my thoughts and views on a few Altcoins today, including:

• Coti (COTI)
• UniSwap (UNI)
• Polygon (MATIC)
• Dusk Network (DUSK)
• Enjin Coin (ENJ)
• Elrond (EGLD)

Let’s dive right in.

Altcoin Dominance

Altcoin Dominance has broken beyond the orange diagonal multi-month resistance, rallying straight into the red region of resistance.

This red resistance acted as multi-month support throughout 2022.

Seeing as this is the first contact with this area, there could be some rejection.

Some rejection would be welcome and technically merited, as a rejection from here could send ALTDOM to the blue Range Low support which is also confluent with the orange diagonal.

This would be considered a retest attempt and a successful retest would see ALTDOM revisit the red highs here.

Generally, ALTDOM looking positioned for a rejection/dip is also reflected in many of the Altcoin price charts.

Many Altcoins look poised for a healthy dip as part of a retest attempt themselves.

And this ties in with the technicals for Bitcoin Dominance:

Because BTCDOM is in the process of retesting this red level as new support in the short-term, and such a retest here would see BTC.DOM rally up to the black Wedge Top.

BTCDOM could reject at the black Wedge Top but to get there, it would have to increase and as a result caused Altcoin Dominance to drop.

So in a nutshell, the BTCDOM retest could facilitate healthy dips on Altcoin prices.

But once BTCDOM revisits the black Wedge Top, BTCDOM could reject there which would in turn enable successful retests on Altcoin prices.

Let’s now take a look at the 6 Altcoins I have prepared for you today to get a better understanding of this aforementioned theoretical analysis through a more practical perspective.

COTI/USDT — Coti

As a preface, here is an analysis from earlier this month:

Here is today’s update:

Since retesting the green area which is approximately confluent with the black trendline, COTI has rallied +115%.

We discussed the possibility of COTI rallying from green to blue, which indeed took place, and then I shared a continuation to that analysis on Twitter regarding the upcoming retest of the blue level as support which would enable a move to the red diagonal resistance — and this has played out for a +22% move.

Right now, COTI is at the multi-month Lower High resistance and breaking that level would enable a move to the orange Range High resistance above.

Weekly Close above the red diagonal would be great confirmation for further bullish momentum.

COTI already dipped into the blue level for a retest and it was successful so it’s interesting to see how price reacts at this key resistance.

COTI needs to turn the red diagonal into support to move higher and a failure to do that could see COTI drop to the blue level again.

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Final Notes

If you’re planning to buy Bitcoin then make sure to check out my YouTube video: Time To Buy Cheap Bitcoin Running Out? [200 Week MA Explained]

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
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• My Investment Portfolio Updates

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.

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