In This Issue
- I share my thoughts on the state of the market, CPI data is in, Solana NFTs, ETH POW & So many upgrades.
- Rekt Capital has the latest technical analysis for you on the market.
- Sam has a report for you on 3 innovative NFT projects.
- Defi Dad has a tutorial for you on how to earn up to 70% APY lending ETH during The Merge.
- Jesse has a ton of hot new airdrops for you.
- Hot new token sales.
- Rebecca has all of the latest news for you.
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Buy, trade, and hold 600+ cryptocurrencies on Binance
What’s On My Mind by Lark
The State of the Market
Another rocky week for the markets. We faced cross the board rejections on the news that the US inflation numbers hadn’t come down as much as expected. More on that in a moment.
Bitcoin is once again trading under $20,000. The rally was quite short lived this time. Just a short pre-inflation release pump. These kinds of short rallies followed by big dumps are so typical of a bear market.
Analysts at the big banks are still calling for more downside for the stock markets, and that likely means more downside for crypto. I don’t love that we track so closely with equity markets now, but that is indeed the case for crypto.
We remain deep in bear market territory. I would love to see a change soon, but that is only wishful thinking.
We have significant macro head winds still including
- EU Energy Crisis
- Inflation
- Recession Fears For USA, UK, and EU
- Cooling Housing Markets Globally
- Ukraine
- Taiwan – in particular, proposed US sanctions on China
- Ongoing Supply Chain Disruptions
- Growing Civil Unrest
And like a dozen more things. There is not much to be bullish about in the short term. Bear market rules remain in effect which means preserve capital, optimise for survival, and go slow.
CPI Data Is In…
The US inflation data has come in, and it has gone down again from 8.5% to 8.3%. The market had been expecting 8.1%, so while it did go down the market freaked out over it not going down enough.
To be clear 8.3% inflation is bad. The target from the FED is 2%, and we are far from that number. Expect markets to remain bad until we get some real downward pressure on inflation.
Solana NFTs Taking Flight
Solana NFTs continue to be the talk of the crypto town. Solana mints hit a new all time daily high the other day at more than 300,000 NFTs minted.
Trading volumes continue to close in on Ethereum with one day last week seeing Ethereum trading volume at 8.5 million to Solana’s 6.5 million. Although that has fallen back a few million as of today the trend seems to be more and more people doing the NFT thing on Solana. And it makes sense the NFTs are dirt cheap to mint and trade on Solana.
Solana NFTs, if you are into NFTs, are definitely not something to ignore!
ETH POW FORK COIN
Remember that there is an Ethereum Proof of Work fork coin to claim! If you had your ETH on an exchange like Binance this will be automatically debited to your account. Full transparency this is what I did because I am lazy and slightly paranoid.
If you had your ETH on a wallet like your Ledger then you will need to manually claim it. At the…
