Monthly Crypto Alpha Report – December 2023
Crypto's back, baby.
The moon math memes are back, and news items such as 'Hong Kong Gaming Company Boyaa wants to Buy $100M in Crypto' induce flashbacks to the summer of 2020.
Not that we're quite there yet in terms of the market cycle - still pre-halving - but the sentiment of anticipation is similar.
Back then it was the hope that lots of companies would follow MicroStrategy's lead and put BTC on their balance sheet. Currently, it's Bitcoin ETF fever.
In the first week of December, BTC broke out of its ascending triangle, topping out (at the time of writing) just above $44k. Only 4k to go to my price target for 2023 of 48k, lol!
But seriously. It's of course quite possible - and it would be healthy - that we see a retracement from here, after 7 green weeks in a row.
Whenever the moon math memes are flooding your X timeline, you know that plenty of smart traders will want to take the counter trade.
To get a reality check, let's look at inflows and on-chain data. One interesting chart is the market cap of all stablecoins combined. This has bottomed.
USDT's market cap has reached new all-time highs. This is money waiting on the sidelines.
And it isn't just that. VC money
Hello, Where can I find an article on how to safely stake ETH step by step?
You can run your own node which requires some technical expertise or just use Lido Finance or Rocket Pool to stake your ETH via a third party
https://thewealthmastery.io/how-to-stake-ethereum-staking-guide/
Hi Lark, have any of you team looked at retik finance. The project looks great. Do you think the token works as an investment?
Never heard of it, sorry