Wealth Mastery #72 (Free Members)
The Big Recap by Lark
The market has been pretty turbulent this week!
Like I was saying last week, there is nothing wrong with booking a bit of profits when things are pumping like that. How deep and long the dip lasts is anyone’s guess.
But this is why it is always a good idea to have some dry powder on the sidelines.
You cannot buy the dips if you don’t have any chips.
There is a reason why stablecoins make up around 10% of my portfolio. Having stablecoins allows me to enter highly lucrative farms like Convex Finance and it also lets me have money on hand when dips come. I know it is tempting to be all in all the time, but my time in the market has proven to me that having dry powder is always a good idea!
Crypto.com is the latest crypto company to make a major sports branding deal by buying the LA Lakers arena naming rights. FTX recently of course acquired some major sporting partnerships as well. Even smaller companies and projects like ANKR are sponsoring teams. This is all part of building the coming mania and awareness phase for the market.
The Late Night comedian Jimmy Fallon has bought a Bored Ape as his new profile picture. He also featured top tier NFT artist Beeple on his program. The volume on Open Sea doubled over the weekend after this was announced, with Bored Ape sales seeing a 900% volume surge.
Anyone saying that NFTs are dead is not paying attention.
The reality is that NFTs are going through fast and hard cycles and extreme volatility. Very few collections are liquid enough. It is messy and wild and I love it.
We are now starting to see new platform releases that could drive price appreciation for some of the cryptos that launched late last year or earlier this year. V2 launches, or even V3 launches in the case of older platforms like Aave can really light a fire under a crypto. Assuming of course that the upgrades bring in something meaningful.
Here are a few of my portfolio coins that are doing upgrades (for complete portfolio transparency, consider upgrading to premium):
Ramp is launching on Solana and Polka Dot in the near future.
Ramp 2.0 will also include automatic loan repayments. It is also bringing the rUSD stablecoin to Ethereum. Part of that Ethereum rollout is to bring rUSD into more protocols as part of making it a money lego. There will also be a huge incentive program coming.
Bridge Mutual 2.0 is going to be bringing insurance to Solana.
This will make it the first mover on Solana assuming they can deploy it soon enough. They are also bringing in a suite of new insurance services and there will be a shake up to the token model which will likely drive a lot more value to BMI.
Ethernity is an NFT crypto that has worked with some incredible brands and celebrities like Lionel Messi.
Part of the coming V2 upgrades include a metaverse, NFT lending, cross chain minting, a marketplace, airdrops, NFT staking and more.
This is far from an exhaustive list of even my bags, let alone all of the upcoming protocol upgrades that will be happening across the market. There is a lot happening in crypto, and sometimes those bags that haven’t moved much and seem so boring could be facing some big upcoming price catalysts. So before you sell your “boring” bags check to see what the roadmap has in store!
The insane Kadena pump that saw the asset blast from $2 to $25 in a month has got me thinking that the market might start hunting for other potentially undervalued layer one blockchains.
And yes, I know we have not really talked about Kadena in the newsletter. As I am sure you can appreciate it is near impossible to keep up to date with the thousands of coins trading in this market. And it is not just Kadena that has mooned, lots of other layer 1s have. QAN is one that we saw in the trending coin category a few times, it has since 20Xd in price.
While I was personally not super bullish due to feeling like the layer one space is saturated the market thinks otherwise, so today I wanted to highlight a few coins that you may want to DYOR if you are hunting for lower cap gems:
Rangers is a high-performance blockchain compatible cross chain with Ethereum.
Mainnet launching in 3 weeks. Backed by Pantera, Huobi, and Alameda. The Rangers chain is focused on gaming and metaverse, describing themselves as a virtual worlds blockchain infrastructure.
Cellframe is a quantum-resistant layer 0 blockchain, similar in architecture to Polka Dot, but trading for a dramatically lower market cap.
The mainnet will be coming next month for this one. Most of the coins have entered into the circulating supply too, so there shouldn’t be any big dumps coming. No particularly good VCs behind it.
Is it too late for coins like QAN? Well, not necessarily.
Even though QAN has seen big gains, the total cap is still only around 100 million. It is being heavily shilled on Twitter, and had a big price spike earlier this week. Testnet coming soon, no mainnet until 2022. Is it overvalued for a coin that isn’t even on testnet yet? Probably. Does the market care? Nah. Do we need quantum resistance now or in the near future? Nah, but it is mooning anyway.
Defi Updates
A new farm called Angle is paying high triple digit yields for providing liquidity into Sushi swap for their Euro based stablecoins.
SushiSwap is offering over 200% APY on the MIM/MOVR pool on Moon River.
A report on defi governance tokens has shown up what we all kind of knew already that people just want free money. They looked at Compound Finance farming. 93/100 addresses sell all their farming rewards. 7/100 hold onto their coins. 1/100 actually participates in governance. Read more here
Defi swapping protocol Paraswap has done an airdrop to early users.
However, it seems only a tiny fraction of users actually got the airdrop leading to outrage online from users who have been using the platform for a long time but did not qualify for the very strict parameters. Of the 1.3 million wallets that have used Paraswap, only like 20,000 actually qualified.
Probably the worst airdrop of all time in terms of screwing the vast majority of their users.
Still though, if you used Paraswap in the past you should check if you have anything to claim. HERE
Get the premium report and learn why we are bullish on metaverse coin High Street, the latest token sales and airdrops, my newest high yield defi farm in my portfolio, how to earn 1,315% APY in with a Fiat Dao, and much more.
Deals of the Week
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🤖 NFTs are a mega hot trend, and Unstoppable domains have been one of the hottest NFT collections. You can either flip hot domains like beer.crypto or pay.bitcoin or you can just reserve your personal name for payments like johnsmith.crypto. You can now mint domains for free on Polygon. Use this link to get yours ►► https://cryptolark.co/UNSTOPPABLE
In Case You Missed It by Rebecca
Crypto market news
The Bitcoin network successfully activated the Taproot soft fork upgrade, in its first major upgrade since August 2017. Source
Kevin O’Leary says his crypto holdings have increased to 10% of his entire portfolio, up from just 3% at the beginning of the year. Source
Ethereum-based holdings among institutions are up 19% in Q3, according to U.S SEC filings. Source
Marathon Digital is looking to raise $500 million in debt to buy Bitcoin and set up new Bitcoin miners. Source
Coinbase NFT Platform sees more than 1 million people sign up to the waitlist, making it more popular than OpenSea over the past 30 days. Source
Voyager Digital hits 1 million funded accounts, which they say is driven by the success of their loyalty program. Source
The NBA’s Houston Rockets have partnered with NYDIG, who will become the franchise’s official Bitcoin services partner, through a sponsorship deal paid in Bitcoin. Source
AMC Theaters now accepts online payments in Bitcoin, Ethereum, Bitcoin Cash and Litecoin, with Dogecoin coming next. Source
Indian Crypto Exchange WazirX says user base has grown tenfold in 2021, recording trading volume of $38 billion. Source
Paradigm co-founder, Matt Huang, announces a $2.5B crypto fund – the largest ever for a crypto firm, and he thinks the next era for crypto will be focused on consumers. Source
Twitter is launching a dedicated cryptocurrency team as it continues to support the adoption of digital assets and decentralized apps. Source
Apple CEO, Tim Cook, says he owns – personally owns – cryptocurrency and has been ‘interested in it for a while’ but dismisses suggestions that Apple will embrace it. Source
Chinese crypto exchange Huobi Global will close the accounts of all Singapore-based users by March 31 2022, to comply with local regulation. Source
Bitfarms purchases 24MW hydro-powered mining facility in Washington State, USA, to add 620 petahash of mining power, at a cost of $26 million. Source
Mastercard outlines a strategy to support the growing crypto community, focusing on network access, security and services. Source
Disney becomes the latest company to announce metaverse plans. Source
Barbados is preparing to launch the world’s first metaverse embassy, a move that is set to break new ground in diplomatic spaces. Source
Coins and Projects
MyEtherWallet launched its first NFT collection called ETH Blocks – tokenizing individual blocks on the Ethereum blockchain. Source
Web browser Brave is replacing its extension-based cryptocurrency wallet with a browser-native one, in a bid to combat fake extensions. Source
SundaeSwap has integrated with the Yoroi Wallet and performed the first transaction using the Yoroi dApp Connector on the Cardano network. Source
Polkadot DeFi platform Acala has gathered over $600 million in funding so far, and is likely to win the first parachain auction beginning this Thursday. Source
Tether’s USDT is now going live on Avalanche, following its integration with the DeFi platform. This comes after launches on Polkadot and Solana. Source
Ripple launches Liquidity Hub for enterprise clients with support for Bitcoin, Ethereum, and more. Source
Polygon deploys fiat on-ramps via Alchemy Pay, enabling direct fiat payments for De-Fi. Source
Moonriver hits 5 million transactions and continues to be the most widely adopted parachain on Kusama, with 60+ live integrations, 173k+ wallets, 2k+ ERC-20 tokens. Source
The Graph announce that they are preparing to integrate with Cosmos network, which is being led by the Figment.io team. Source
pSTAKE has raised $10M in a strategic funding round, to bootstrap its growing liquid staking protocol. Source
Yield farming on Curve is taking over the DeFi space, offering 100 times many rates offered in traditional markets. Source
Cambridge University is developing a blockchain-based market using Tezos, for trading carbon credits that will support reforestation projects to preserve biodiversity. Source
Discord has been forced to drop plans to integrate with Ethereum NFTs after strong backlash from its user base. Source
Axie Infinity guild, CGU, launches scholarships to help players enter the fantasy play-to-earn NFT game. Source
The New England Patriots are partnering with Socios in a deal that could lead to the National Football League’s first fan token. Source
Major crypto players Andreessen Horowitz (a16z), Cosmos, Polygon Studios and Solana Ventures go heavy into blockchain gaming platform Forte, investing $725 million. Source
Automated market maker, Saddle raises $7.5M with the aim of reducing slippage in DeFi trading for stablecoins. Source
Terra community passes proposal to burn LUNA tokens worth roughly $4.5 billion and mint 4-5 million terraUSD stablecoins. Source
Zebec Protocol launches on Solana, offering flexible payroll and enabling workers to be paid by the second, with USDC or other stablecoins. Source
Circle’s new VC fund backs a $4.4 million funding round for investment into Japanese stablecoin JPYC, which is pegged to the Japanese Yen. Source
Wilder World has received $3.5 million investment from Metapurse to develop a landmark in Wiami that will house Beeple’s “The First 5,000 Days” NFT collection. Source
DeFi derivatives project Injective Protocol launches its mainnet along with a $120M Incentive Program. Source
Iota Foundation announces the upcoming launch of a staging network, Shimmer which will deliver smart contracts, full decentralization and sharding. Source
Macro news
President Biden signs infrastructure bill into law in the U.S, mandating broker reporting requirements. Source
Every Miami resident with a digital wallet will be eligible to receive a Bitcoin dividend as yields exceed $21 million for the city. Source
U.S. consumer prices jump to 6.2% in October, the biggest inflation surge in more than 30 years. Source
VanEck Bitcoin futures ETF to launch on Nov. 16 after the U.S. SEC rejected their spot ETF application. Source
Blackrock has “no current plans” to launch a crypto ETF until there is regulatory clarity in the U.S. Source
Indonesia’s religious leaders declare crypto is illegal for Muslims. Source
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Final Notes
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.
Do let me know if you have any questions or feedback, or any topics you’d like to see covered in future issues.
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.
