The Big Recap by Lark
As we near the end of the year I wanted to take some time to reflect on what has been a busy, and I truly hope for you a profitable year in the markets. So often we are just running day to day, from one thing to the next that we forget to actually sit back and take a look at our portfolios and ask ourselves “how are things going”? So that is exactly what I want you to do today. Answer the following questions for yourself and I hope that in the process you may understand a bit better if you have been reaching your goals, and if you haven’t been why?
- What was your best investment this year? Why was it your best investment? Even though it was your best investment how could you have done even better with this coin?
- What was your worst investment this year? Did you sell at a loss? If so, are you aware of tax loss harvesting? Why was this your worst investment? Was the coin just bad? Did you not DYOR? Did you fomo buy the top?
- On what coins did you take profits this year? Did you take profits when the market was in a state of greed or fear? Did you exit your entire position or did you ladder out of it? Did you keep a moon bag?
- What passive income streams have you established? Maybe staking coins like Cardano? Maybe you are lending on a centralized service like Celsius? Maybe you are using decentralized options like Anchor? Maybe you are more adventurous and are doing yield farming? (Remember Defi Dad does a weekly step by step tutorial on these so you can feel confident in using these platforms.) If you do not have any passive income in crypto, then why not? What is stopping you? Because staking and yield farming are some of the highest earning areas of the market.
- If there was one thing you could change about your portfolio what would it be? For example having more stablecoins or more Bitcoin. What will your plan be to achieve this change?
- How are your non-crypto investments looking? Do you have non-crypto investments? Are you considering getting some? There are some pretty cool stocks to buy, and things like property never go out of style.
- What is one thing you want to challenge yourself to do next year? Maybe start farming, flip NFTs, or try to trade more?
Please do take the time to answer these questions for yourself, and I hope that by doing so you will find areas where you can make your portfolio even more successful in 2022.
In other news, the Bored Ape Yacht Club NFT collection has flipped Crypto Punks. At least the prices of the cheapest ones, the floor apes versus the floor punks. In terms of top prices Crypto Punks are still the winners. It is nevertheless quite interesting to see this taking place since it really brings into question what is a “blue chip” NFT, if we can even use such a term so early on in the NFT journey. But the Apes teach us a few important lessons.
- People want to own their IP. Larva Labs the creators of Crypto Punks have been rather unkind with their IP, because if you own a Punk then you don’t own any of the rights to that image, just the image. Whereas with Apes you own the image rights and can use it for basically whatever you want.
- People also value utility. Ape holders have received multiple airdrops of new NFTs worth literally tens of thousands of dollars. Plus Apes have more fringe benefits like access to parties than Punks.
Over in Ethereum land it was announced that a new ETH 2.0 testnet has been pushed out. This is the first major testnet for the coming Merge which will turn off proof of work forever and turn Ethereum into a fully functioning proof of stake blockchain. The launch of the testnet is very significant because it indicates that we are now much closer to the reality of ETH 2.0 going live.
Polka Dot parachains are officially live!!! Acala Network, Moonbeam, Parallel Finance, Astar, and Clover are all now live on Polka Dot. This is a major moment for the network with Polka Dot finally being fully functional after years of waiting. Now the question becomes will users flock into these new networks and bring their money with them and start using Dot based defi? I think that they will. Exciting time to be a DOT enthusiast. The second round of parachain auctions will start soon, with major players like Efinity gunning for position.
- It has been confirmed that Uniswap will launch on Polygon.
- Solar Beam still has some good pools with low triple digit APRs on Moon River chain.
- Solana’s Port Finance has launched fixed rate USDC lending. Rates are not “crazy”, but for a fixed stake option it is ok… assuming you are willing to look up liquidity.
- Abracadabra allows you to use UST to borrow MIM stablecoins, which means you can leverage the power of your stablecoin stack with “lower” risk of liquidations unless UST loses its peg.
- Yearn Finance has started buying back YFI tokens with the protocol profits which considering the massively low supply could be a major price catalyst.
- Ethereum Vega pool on Sushi Swap still around 200% APY. HERE
- Use Paralell Finance to support Efinity in the second round of parachain auctions and get a 30% bonus. HERE
- Terra Luna has surged to become the 2nd biggest chain by total value locked after Ethereum. Source
- Wilder World has released staking and liquidity farming with APYs in the high triple digits. HERE
Top Trending Coins This Week by Rebecca
Here are my key takeaways from the trends this week, and they include a lot of familiar names!
1 – Ovr, a decentralized metaverse that creates geolocalized AR experiences has announced a partnership with Threedium, allowing users to build 3D objects in Ovr’s metaverse.
2 – YIELD App describes itself as DeFi banking in your pocket, earning you yield on your crypto from using the platform. This week they have announced the launch of version 2 of their platform to priority user groups.
3 – Wonderland is back on the list. They have integrated with Gnosis Safe, who will now provide their users with multi-signature wallets. This gives users the ability to require approval from more than one person before a transaction can be sent.
4 – Terra Luna has stayed strong throughout the market dip, and its recent surge in price has pushed Luna into second place, behind Ethereum, in terms of total value locked (TVL) on the chain with $17.1 billion.
5 – Avalanche are at it again with lots of development and platform improvements. This week USDC is newly supported on the blockchain, and BitGo now supports the native AVAX token across its custody and hot wallet products.
6 – Polygon have confirmed that the Uniswap community has officially given the go ahead to deploy v3. The deployment will happen on the Polygon network over the next few days. Polygon will also invest $200 million in decentralized social media.
7 – Binance Coin and the Binance Smart Chain continue to onboard projects on mass, and have been found to be the most active chain at present in terms of volume of transactions.
8 – DeFi Kingdoms is a game that is growing in popularity and this week has grown in TVL massively, going through the $500 and $600 million milestones. They have also received a $1million grant from the Harmony protocol to continue its development.
9 – Olympus is going through the process of migrating its platform from v1 to v2. This will introduce staking bonds, a new front end and cross-chain functionality through the gOHM initiative.
10 – Bitcoin is prompting discussion on social media this week as we try to figure out which way price action is going to go – more sideways chop at the $47K mark, down to $42K or moon to $53K.
11 – Solana is likely trending due to the launch of the Katana mainnet on the blockchain. Katana is a new yield generation protocol for Solana. This is in addition to confirmation of the launch of the highly anticipated Fractal project.
12 – Harmony, in addition to the partnership announced with DeFi Kingdoms, they have the launch of the Immortl IDO on the Artemis Protocol which is generating a lot of interest.
13 – The Sandbox have launched LP Staking with Matic, a partnership with NBA star Stephen Curry and a partnership with Uniqly to bring physical products into the metaverse. There has also been more Snoopverse land sales.
14 – Star Atlas have launched SCORE, the first playable browser-based game that enables players to earn in-game currency ATLAS. After one day’s gameplay, there is already over $57 million TVL.
15 – Ethereum has dropped the Kintsugi testnet live for the next month. This is for users to help in the efforts to test proof-of-work (PoW) switch off ahead of ETH 2.0. One of its Layer 2 solutions, Optimism has also enabled permissionless deployments.
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.
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Lark and the Wealth Mastery Team
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.