In This Issue
- My latest portfolio updates.
- Jesse has a deep dive for you on the top 5 Avalanche coins.
- I interviewed Neptune Mutual about crypto insurance and protecting against risk.
- Sam has a report for you on PFP NFTs
- Rebecca breaks down this week’s trending coins.
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Buy, trade, and hold 600+ cryptocurrencies on Binance
Lark’s Portfolio
This Week’s Moves
I added a little bit more Bitcoin at $16,750 as previously mentioned.
I received GLMR tokens as part of my venture investment. I sold some of them and staked the rest.
I slightly reduced my EFI position.
I claimed a big chunk of WILD, and unstaked a small amount and sold it for cash. The end result is an overall increase in my WILD since I received 3X in staking rewards more than I unstaked and sold. BTW the staking rewards are locked for a year.
I claimed my ILV rewards from my liquidity provision. These will be unlocked in 12 months. It is important in spite of the bear market to stay up to date with investments.
I also claimed my rewards from HIGH, which will be locked for a year.
I sold a small amount of Kasta, VPAD, and INDIGG from my venture investments which were released after I manually claimed them.
I decided to cut my Guildfi investment since I am well over exposed on gaming guild investments and would rather have the cash for now.
I am writing off my Solice investment and removing it from my disclosures page as it appears they could have been affected by the FTX fallout.
While all of this sounds like I am doing a lot of stuff or dumping a bunch of altcoins. In reality I am just doing a bit of clean up. Claiming things here, reducing positions there, not too much exciting but worth sharing anyway.
Capitulation
Capitulation is usually seen as when we finally bottom.
Has capitulation come? Maybe, maybe not.
The social media rumor mill has a constant stream of theories about who will collapse next and bring the markets into complete Armageddon. If some of these theories play out to be true then the FTX capitulation could have only been an appetizer to the real capitulation.
However such sentiment is so often what comes in near the lows. I remember back in 2018 when Bitcoin hit $3,000 that many people were convinced we would fall to $1,000. Which didn’t happen.
Usually capitulation events are marked by some of the following
- Bankruptcies. FTX would be the big one. But the cascading effect to other players like Blockfi and Liquid has sent ripples through the market. The next ones at the chopping block if the price of Bitcoin stays down here are the Bitcoin miners. Before the FTX drama many mining companies were already on the verge of bankruptcy. We are also seeing loads of layoffs from major crypto companies like Coinbase.
- Sentiment. Unsurprisingly sentiment is in the gutter right now. While we do not have the full numbers a million or more people could have lost everything on FTX. Trust has been destroyed across the crypto market. If you go to social media it is basically all panic and end of times talk….
