In This Issue
- I share my thoughts on the state of the market, Genesis trading, Black Friday Ledger sale, FTX hacker dumping, Cardano’s new privacy coin, Metamask airdrop & Arbitrum on fire.
- Rekt Capital has the latest technical analysis for you on the market.
- Erik has a report for you on proof of reserves.
- Defi Dad has a tutorial for you on how to earn a 29% max APR with chicken bonds by Liquity.
- 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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Buy, trade, and hold 600+ cryptocurrencies on Binance
What’s On My Mind by Lark
The State of the Market
New yearly lows have hit for Bitcoin! And many altcoins. But not for Ethereum…
ETH continues to be a strong coin in the market. The reasons are simple
- Staking rewards, and locked supply from staking
- Raging defi and NFT scene
- Increasing demand as layer twos like Arbitrum keep sucking up ETH.
- ETH literally being deflationary, and less ETH being dumped because block rewards dropped by 90%.
That being said, FTX and the resulting contagion has been a punch in the gut for markets. The fear, panic, and depression are very real. Many people lost everything on FTX. This has been a tragedy for our industry. And, the secondary market effects could still be months away from being fully realized.
Just keep in mind that we will have some spectacular market rallies during this bear market, but that we are a long way from being out of the woods.
In other news, the FOMC Meeting notes came out today. Long story short, the FED sees the terminal rate being higher than expected, but they also anticipate slowing the pace of hikes soon. The markets generally liked this news.
We also have Bitcoin Miners who are dumping their coins. In fact, the selling was the biggest from miners since late 2015. At the current price, most miners will be unprofitable. It will be a great washout for miners. Meaning that they will be forced to sell their coins.
Genesis Trading
This has been the wild card worrying markets all week. What will happen to Genesis Trading which is/was Bitcoin’s biggest OTC desk and major crypto lender. What will the implications be for parent company Digital Currency Group which is invested in over 200 companies across crypto. And what does this mean for The Grayscale Bitcoin and Ethereum Trusts? The nuclear scenario is that the trusts are unwound and 635,000 Bitcoin and 3 million Ethereum are dumped into the market.Sadly, at the time of writing I have no indication on how this all resolves.
Speculation is running rampant, however the only ones who can really give us definitive answers are DCG and Genesis. And that is the one thing they have not done yet. But it is definitely THE BIG STORY right now in crypto. I will keep you posted.
Black Friday Ledger Sale
We all know how important self-custody is for your coins, and this year has proved that beyond the shadow of a doubt. So now more than ever is the perfect time to get yourself a hardware wallet to keep your coins safe because Ledger is…
Hi! My name is Lark Davis!
I’m a cryptocurrency investor with years of experience and I’ve been making consistent profits in the crypto space.
I’m passionate about helping others do the same, so I run multiple educational channels on crypto investing.
