In This Issue
- I share my thoughts on the state of the market, Solana hack, ETH Classic, Cardano Vasil delayed and look out for Synthetix.
- Sam has a report for you on the top NFTs for under 0.5 ETH.
Premium members also get the following:
- My latest portfolio updates
- Rekt Capital has the latest technical analysis for you on the market.
- Rebecca has all of the latest news for you.
- Upcoming NFT drops
- Defi Dad has a tutorial for you on how to earn ETH in a stETH options vault without risking your deposit.
- Jesse has a ton of hot new airdrops for you.
- Hot new token sales.
- Rebecca breaks down this week’s trending coins.
- Jesse has a deep dive for you on Lido DAO.
And much more!
What’s On My Mind by Lark
The State of the Market
Well, it seems that equity markets got a bit spooked this week on the news of Nancy Pelosi’s visit to Taiwan. But then when World War 3 didn’t break out the market calmed down a bit.
Bitcoin is putting in higher highs and higher lows maintaining its uptrend. Assuming we don’t get any macro shocks then we could see the markets maintaining their relief rally for a little while.
Ethereum bounced off of key resistance last weekend, and is currently looking like it will make a second attempt at it. The broader Ethereum Merge narrative continues to lift up coins like LIDO and OP, as the broader Ethereum ecosystem continues to buzz on the anticipation of the launch in 6 weeks.
An exploit has hit the Solana network affecting major wallets Phantom and Slope. Wallets have been drained for millions in the attack. I truly hope you were not affected.
The root cause of the hack was not that Solana failed, or even that there was a problem with Phantom wallet which remains an industry standard. No, it seems that Slope wallet sent people’s seed phrases to external partners that they integrated with.
Any hacks from Phantom wallets or even some Ethereum wallets came from people reusing the same seed phrases they used on their Slope wallet. This is a case of shocking negligence.
Here are three quick tips for keeping your crypto safe in this kind of situation:
- Move your coins into a hardware wallet. I know I keep saying it, but it needs repeating. Store your funds only on a hardware wallet. Hot wallets are fine for playing with a few bucks, but that is it. Here is a link where you can safely buy one if you do not yet have one 👉 https://cryptolark.co/LEDGER
- As soon as you see a story like this taking place don’t sit and wait. If you do not have a hardware wallet then send your funds to a centralized exchange until the dust settles. You may not be able to send every coin, but maybe at least a few of the big ones to reduce risk.
- Revoke access to any dapps you might have used. In the event of a third party app being exploited there can be a situation in which your funds can be drained from your wallet if you have approved the app already. In Phantom wallet click on the gear in the bottom right-hand corner and then click on trusted apps and then click revoke. Although, because this turned out to be a case of leaked keys it would not have helped, but it is a handy trick to remember for the future.
And as a side note, try not to reuse seed phrases. I know it is convenient, but it is also dangerous in the event one of them gets exploited.
With The Merge to proof-of-stake pending for Ethereum, many are starting to turn their attention to Ethereum Classic (ETC).
The narrative is that the miners will need somewhere to go after The Merge and thus ETC should pump hard. That narrative alone may be sufficient for some kind of short-lived price action, but I remain broadly bearish on Ethereum Classic. It is essentially a dead chain.
On average it has 30,000 transactions per day, compared to Ethereum’s 1.2 million, Polygon’s 2.8 million… you get the idea.
There is also basically nothing built on top of Ethereum Classic, and almost zero integration across major defi protocols.
Think of every time you have ever used a defi app, have you ever once seen a “log in with Ethereum Classic” option? I haven’t, and I have used 100 different apps.
The only thing I can see happening with Ethereum Classic is miners mining and dumping this coin.
Miners do not bring users, developers, or any kind of real economic activity.
So don’t fall for the narrative from miners that somehow Ethereum Classic will magically be used when they start mining it.
Cardano Vasil Delayed
Cardano’s highly anticipated Vasil hardfork has been delayed for “a few weeks”.
This is pretty typical for tech. Don’t be surprised by delays on crypto deliveries of major upgrades. The Vasil upgrade is too important to play fast and loose. This is the upgrade that is going to supercharge Cardano for the future and make it a much more robust blockchain. Take your time Charles!
Also, when the final date does get announced I wonder if it will cause a price rally for a “buy the rumor, sell the news” on Cardano? Something to keep an eye on.
Synthetix – One To Watch
Synthetix has been getting a lot of attention in recent weeks.
In case you are not familiar SNX is a synthetic asset protocol that lives on both Ethereum and Optimism. However, it languished for a long due to crushing gas fees on Ethereum, it is now getting a new life on Optimism.
Right now SNX is yielding huge staking rewards, around 100%. Not only that but, when you stake SNX you also get SUSD, which you can stake on curve finance to earn even more.
Their decentralized stablecoin hasn’t exactly become a king of the defi space, but most importantly it has kept its peg. Well, within about a cent on either side of a dollar anyway!
Also worth noting, whales LOVE SNX! It has pretty consistently been a top traded and held coin by the 100 biggest ETH whales. Do they know something we don’t? Also, Jump (a big crypto VC) just got on the SNX train.
To be clear, I am not saying to run out and buy this coin. I am saying, this is noteworthy, perhaps you may want to look into it a bit more. Altcoins remain risky in the current market conditions, don’t forget!
I have entered a small position on this with an eye to riding the momentum of the growing interest in this defi darling. I will cut my bags if I see the market turning.
What is SeedOn Crypto? by Jesse
(Wealth Mastery Premium Article)
SeedOn is a new blockchain-based crowdfunding platform built using the Binance Smart Chain. SeedOn has a goal to revolutionize conventional crowdfunding by aiming to provide transparency to all stakeholders so they remain in control of their investments at all times.
Current problems in traditional crowdfunding include undelivered products, leaked private information, lack of communication, and stolen capital. SeedOn feels they can manage this process much better than is currently being executed. By having an in-house research team to verify and conduct a thorough vetting process, they can eliminate many of the current problems plaguing crowdfunding platforms.
SeedOn will use several key points of focus to obtain a safe and reliable platform for users. The screening process will include all details of a project including copyrights, CEO visibility, and data privacy. Once completed, the SeedOn team will provide PR and marketing assistance for the project and assist in the rest of the crowdfunding process. Anyone who uses the SeedOn platform will be required to provide all necessary personal information to verify their identity and investor intent.
If you’re looking to launch a project on SeedOn, you will need to follow a special 7-Step Plan in order to open an Entrepreneur Account.
Top NFTs under 0.5 ETH by Sam
After several months of running round goblin town being savaged by bears, there are plenty of NFT bargains to be found.
While there are no guarantees about what will happen when the market picks up (and the crypto landscape is looking a little brighter as we head into August), here are some assets that can be acquired for less than 0.5 ETH.
Image credits: BBRC Studios
This project is a high-quality production by a well-known fashion designer, Aaron Chang. The sense I get with Ivy Boys is that had it launched earlier, it would have been a huge mint, but because it dropped when the market was turning bearish it was at a disadvantage.
Still though, without having really exploded, it minted out and has increased in value, with the current floor around 0.25 ETH. It’s stylish, professional and always active, and has the potential to grow significantly as a web3 fashion-focused brand, especially when enthusiasm returns to the market.
Image credits: The Hundreds
Adam Bomb Squad (ABS) is the web3 extension of The Hundreds, a well known streetwear brand and media platform established in 2003. Supply was large at 25,000, but ABS minted out in 40 minutes back in the heady days of August 2021, with each NFT costing 0.1 ETH.
Floor prices went as high as 1.45 ETH in February 2022, but are now at 0.3 ETH. ABS looks like a decent hold because it’s attached to a forward-looking brand that fully comprehends the cultural transitions into web3 and the metaverse that may be coming. Also, the ABS drop was a memorable part of 2021’s wild NFT ride, and the collection has some historical significance.
Image credits: Ledger
One of the biggest names in crypto hardware is Ledger, whose hardware wallets are popular and secure. Now Ledger is bringing security to the NFT space with Ledger Market, a platform for safely minting and distributing NFTs.
This month’s first drop on Ledger Market was its own Ledger Market Pass Genesis Edition, which minted out quickly. It’s a utility NFT connected to a major crypto player, gives access to future drops and collaborations (plans include working with RTFKT, TAG Heuer, and Deadfellaz), and will allow holders to redeem a limited edition, all black Ledger Nano X.
At the time of writing, Market Pass prices are hovering around 0.5 ETH as interest in the project has grown.
Image credits: Sneakerheads
Another project that has not benefited from the timing of its launch (it minted in June, when crypto and NFT sentiment was rock bottom), Sneakerheads was allowlist only and minted out all 5,000 assets despite the poor market sentiment.
It’s a visually impressive, highly-detailed project revolving around sneaker culture, created by talented artist Ali Dawood, and with plans to integrate web3 and fashion. Currently sitting at a floor of 0.2 ETH, if it continues to build out a brand then it could easily pick up interest as wider conditions improve.
Image credits: Daniel Isles
This is the work of artist Daniel Isles, known as Dirty Robot.
Holders of The Art of Seasons (TAOS) NFTs were airdropped Renga Black Box NFTs in June, whereupon TAOS dropped in price, with the value transferring over to the Renga NFTs. Renga is by the same artist, but is a still-unrevealed character/PFP style collection.
The case for TAOS NFTs being undervalued is that along with being works of art in themselves, they could potentially have future utility in the TAOS/Renga ecosystem. And if Renga takes off, then TAOS–in a way the original collection–might gain value again in a space where well-made art is central.
Keep in mind that Dirty Robot/TAOS/Renga have excellent engagement and are well-respected.
Image credits: Karafuru
For some time this eye-catching drop looked like a big project. It accumulated a huge following, partnered with Atmos (a Japanese sneaker chain) and Hypebeast (the fashion and culture platform), and generally looked well on track.
However, Karafuru then seemed to get hit particularly hard by the bear market, and the floor has dropped from a high approaching 3 ETH back in April, to just over 0.3 ETH now. Momentum has been lost, but crypto can turn around quickly, and Karafuru still has a good base from which to develop as a web3 brand.
Image credits: Solsunsets
A Solana project dating back to November 2021 that always seems just on the edge of achieving wider recognition. It features deeply nostalgic pixel art, no pretensions, and its NFTs–which are all about visuals and vibes–each come in square and banner format, with the banners being particularly impressive.
Solsunsets have quietly maintained value through market ups and downs without ever wildly taking off, and if you like the style, they could be worth picking up at a current floor price of around 0.8 SOL.
Other Projects to Look at
Image credits: Goopdoods
There are many other inexpensive collections that have character and upbeat communities.
No-one can say for sure which, if any, will survive or thrive, but some have the potential to either build out brands, or just go on a nostalgia-fuelled future tear that you can sell into. Take a look at Cryptomories, Alien Frens, 3Landers, Goopdoods, and Cosmodinos.
Over on Cardano, Zombits is an OG project that seemed down-and-out, transferred ownership, and recently came back from the dead with plans for a game. Pavia is Cardano’s major metaverse project, and its land and native token are both relatively cheap while development has been ongoing.
Also, check Metapxlz, the side collection from Deadpxlz, one of the top projects on Cardano. If Deadpxlz goes on a run, then Metapxlz will head upwards too.
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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See you next time!
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.