In This Issue
- I share my thoughts on the state of the market, Binance Mastercard, this week’s NFT scene, new Avalanche transaction high, Dogechain airdrop & my position updates.
- Rekt Capital has the latest technical analysis for you on the market.
- Sam has a report for you on how to get free NFT mints.
- Defi Dad has a tutorial for you on how to earn up to 31% APR with stablecoins on GMX on Arbitrum.
- Jesse has a ton of hot new airdrops for you.
- Hot new token sales.
- Rebecca has all of the latest news for you.
For any crypto related questions please comment on the website.
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What’s On My Mind by Lark
The State of the Market
All eyes are on the Jackson Hole Federal Reserve Meeting this week.
Someday they will tell stories about the time when we all sat around waiting for one man to tell us about what was going to happen next with money and markets. It really makes you appreciate the programmed mathematical certainty of Bitcoin.
What are likely outcomes from the FED meeting? Well, markets are already expecting hawkish vibes from Powell… so probably the market is already pricing in, at least to some extent a hawkish tone from the FED. If however they are more hawkish than expected then more dumping becomes likely. If the FED takes a lighter dovish tone then we may see markets staging a new rally.
This chart is of the DXY, the dollar index, which is currently looking like it could confirm a double top. If this happens then it would be good for risk assets as it would indicate investors being more open to taking on risk and moving out of dollars.
That, of course, depends on the FED though. It wouldn’t take much to see this rally higher and invalidate a double top thesis which would be bearish for stocks and crypto.
Bitcoin, like many coins in the market is hanging on the trendline. Fall here and new lows or at least a retest of previous lows becomes a possibility.
Bounce here and it could be game on! Sad to see so much of the fate of the crypto markets tied to equity markets and what the FED has to say, but that is the state of markets now.
This is the everything crash driven by inflation and macro economic events. No market is being spared.
Binance Mastercard
Binance and Mastercard have teamed up to bring crypto payments to Mastercard’s network of 90 million merchants. WOW! Pretty big news.
Step by step we are moving towards mainstream adoption. Bear markers can make us numb to this kind of news, or make us forge the big picture. But stories like this are how I know for certain, markets will go higher in the future.
All we need as investors is patience. We are standing on the precipice of massive global adoption of crypto tech.
The NFT Scene This Week
Sudoswap, check out Jesse’s review last week, has been getting a lot of attention and a lot of clones! One such clone called Sudorare exit scammed with almost a million dollars worth of Ethereum only hours after launching. Scammers always find ways to make money it seems…
Otherwise the NFT market remains rather muted.
Oh sure, there is the occasional pump like Pudgy Penguins which onboarded…
