Welcome to Issue #59 of Wealth Mastery
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In this issue:
I share some thoughts on flipping altcoins.
Rekt Capital has updates on altcoin trades to watch.
Jesse has a report on the new defi platform Tokemak.
The team from Ecomi join us to discuss their NFT platform.
Defi Dad has a tutorial for you on how to earn big rewards using your Ethereum on Terra.
A quick reminder that all research and market analysis is provided for educational and informational purposes, and should not be considered as financial advice. You are ultimately responsible for your investments and trades, and they should only ever be entered by those who understand the risks, are willing to lose their entire investment, and properly understand how to manage their risk.
Also, every issue will contain more information, tips, hints, and analysis than you can make use of. Wealth Mastery is a tool, you are the craftsman. We are not a signal or pump group, we are a tool shop, you decide what information shared here has value to you or not.
As always, feel free to reach out to me by responding to this email with your comments or questions.
The Big Recap
Many coins are hitting new all-time highs this week! The market has been super bullish for the last few weeks. Pretty incredible. Which makes the current correction for the major coins BTC and ETH something to be expected. Some altcoins are continuing to pop hard here. I am looking for better entries.
Solana “season” is here according to social media, and yes, SOL has hit a new all time high which is great. But at 2.2 billion total value locked Solana is still well behind other platforms. But if you are looking for some interesting defi to try on Solana then check out Mercurial Finance, Port Finance, and Raydium. The wallet you need to use Solana is called Sollet. Have fun!
The US Infrastructure bill fight is now moving onto the House of Representatives. The Treasury department has come out and said that they do not intend for the legislation to expand the meaning of what a broker is beyond the existing tax code, but hopefully they actually make that very clear in the legislation.
NFTs are still a strong trend, but trading volumes across key NFTs have fallen quite a bit in the last week. NFTs are not going anywhere, but the hype cycle could stop pretty quickly. From what I see a lot of people are hunting for the next big thing instead of spending a few million to buy a Crypto Punk. Although these big NFTs like Punks that have “made it” should store value long term. That being said, many NFTs will crash and burn just like most altcoins do. The majority of price action is from speculators flipping NFTs between themselves.
That being said, I continue to be fascinated by NFTs, here are a few collections to watch.
Stoner Cats is actually a pretty surprising collection because it has Vitalik Buterin, Mila Kunis, Ashton Kutcher, Chris Rock, and Seth MacFarlane all involved! Seriously, that is an all-star cast! The current price floor is barely above the initial NFT sale.
Solana’s Degenerate Ape Academy which is a new avatar NFT project which you can pick up on SolanaArt. The next big thing in NFT is potentially the expansion of NFTs onto other blockchains and the hype that follows. Solana is already seeing a lot of NFT hype.
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